Ovarian Cancer Market Report and Forecast 2024-2032

Ovarian Cancer Market Size

The ovarian cancer market was valued at USD 3.6 billion in 2023, driven by the increasing prevalence of ovarian cancer across the 8 major markets. The market is expected to grow at a CAGR of 6.6% during the forecast period of 2024-2032, with the values likely to reach USD 6.4 billion by 2032.

Ovarian Cancer Market Outlook

• The rising burden of ovarian cancer is driving the market demand for advanced treatment options.

• The shift towards personalized medicine and increased focus on early detection of ovarian cancer are significant market trends.

• Increased investment in oncology research and development, rising adoption of combination therapies, and a supportive regulatory environment are impacting the market landscape.

Ovarian Cancer Market Overview

Ovarian cancer refers to cancerous growth in the ovaries. It usually develops in women aged 50 or above. Ovarian cancer often shows no symptoms during the early stages. The rising incidence of ovarian cancer is driving the development of advanced treatment options. Improvements in diagnostic technologies are facilitating early and accurate detection of ovarian cancer, which is likely to aid market growth. The growing research into new targeted therapies and combination treatments is expected to expand the treatment alternatives available for ovarian cancer patients, further boosting the market demand. Heightened awareness about ovarian cancer, increasing investment in oncology research and development, and advancement in healthcare infrastructure, particularly in developing countries, are some of the factors influencing the market dynamics.

Ovarian Cancer Market Growth Drivers

Increasing Prevalence of Ovarian Cancer to Bolster Market Growth

Ov arian cancer ranks as the fifth leading cause of cancer-related mortality among women. It is reported as the 11th most common cancer among women, accounting for 2.5% of cancers in women. According to the American Cancer Society, around 19,680 new cases of ovarian cancer are estimated to be diagnosed in 2024 and about 12,740 women are predicted to die of this cancer in the United States. The increasing burden of ovarian cancer is a primary driver of the market, propelling the demand for safe and effective therapies.

Ovarian Cancer Market Trends

The market is witnessing several trends and developments to improve the current scenario across the 8 major markets. Some of the notable trends are as follows:

Improvements in Diagnostic Technologies to Affect the Market Landscape Significantly 

One of the significant market trends is the rising improvements in diagnostic technologies, especially in genetic testing and imaging, which are leading to early and accurate detection of ovarian cancer. The introduction of advanced diagnostic tools like BRCA gene testing and transvaginal ultrasound are facilitating timely intervention as well as increases the chances of successful treatment.

 
Increasing Investment to Advance Treatment Options Set to Elevate the Ovarian Cancer Market Value

In August 2024 , United States-based PhotonPharma, an immune-oncology company, announced that it had secured USD 2.5 million in seed funding to support the Phase I clinical trial of its innovative ovarian cancer treatment called Innocell™. The FDA greenlit the initiation of the clinical development of Innocell in February 2024 and the Phase I trial is anticipated to enroll its first patient in the fourth quarter of 2024. Such significant investments to accelerate the development of advanced ovarian cancer therapies are projected to elevate the market value in the forecast period.

Rise in Strategic Partnerships Poised to Augment Ovarian Cancer Market Demand

In May 2024 , Anixa Biosciences, Inc., a biotechnology company specializing in developing vaccines and therapies for cancer, inked a joint development agreement with Ohio-based Cleveland Clinic with the aim to develop novel vaccines for different cancer types. Cleveland Clinic’s ovarian cancer vaccine is currently undergoing pre-clinical development. The rise in such strategic partnerships is poised to expedite the market entry of ovarian cancer vaccines and also contribute to market growth.

Growing Adoption of Combination Therapies Likely to Boost Ovarian Cancer Market Size

A major market trend is the growing adoption of combination therapies, which include using multiple treatment methods such as surgery, chemotherapy, and targeted therapy. The combination treatment approach is showing improved efficacy in treating ovarian cancer, particularly in advanced stages or recurrent cases. Moreover, pharmaceutical companies are actively focused on developing combination therapies, which is anticipated to boost the market size in the coming years.

Ovarian Cancer Market Segmentation

Market Breakup by Treatment Type

• Chemotherapy

• Immunotherapy

• Surgery

• Radiation Therapy

• Targeted Drug Therapy

• Others

Market Breakup by Cancer Type

• Epithelial Tumor

• Germ Cell Tumor

• Stromal Cell Tumor

• Others

Market Breakup by Route of Administration

• Oral

• Parenteral

• Others

Market Breakup by End User

• Hospitals & Clinics

• Diagnostic Centers

• Research Laboratories

• Others

Market Breakup by Region

• United States

• EU-4 and the United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom

• Japan

• India

Ovarian Cancer Market Share

Market Segmentation Based on Treatment Type Holds a Significant Market Share

Based on the treatment type, the market is segmented into chemotherapy, immunotherapy, surgery, radiation therapy, targeted drug therapy, and others. Chemotherapy is one of the most common treatment options for ovarian cancer which involves the use of medications to kill or slow the growth of cancer cells. The targeted drug therapy segment is expected to hold a significant market share in the forecast period due to its ability to target cancer cells while reducing damage to healthy tissues. The rising advancements in molecular biology and the growing demand for personalized medicine are likely to bolster the growth of this segment in the forecast period.

Ovarian Cancer Market Analysis by Region

Based on the region, the market includes the United States, EU-4 (Germany, France, Italy, Spain), and the United Kingdom, Japan, and India. The United States represents a major share of the market owing to the high healthcare expenditure and the presence of key pharmaceutical companies. Robust research efforts and government initiatives to support cancer research are some of the factors aiding the market growth in the region. Further, the market in India is expected to expand rapidly due to growing healthcare awareness and improvement in medical infrastructure. The rising prevalence of ovarian cancer and the increasing adoption of advanced treatments are likely to further boost the market growth in the country.

Leading Players in the Ovarian Cancer Market

The key features of the market report comprise patent analysis, clinical trials analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading key players. The major companies in the market are as follows:

AstraZeneca

AstraZeneca plc, headquartered in England, United Kingdom, is a British-Swedish multinational pharmaceutical and biotechnology company with a prominent presence in the market. The company's key product Lynparza  is a PARP (poly ADP ribose polymerase) inhibitor prescribed for the treatment of advanced ovarian cancer in adults.

Pfizer, Inc.

Pfizer, Inc., an American multinational pharmaceutical industry company, is one of the leading players in the market. The company has a robust oncology pipeline, with several ongoing clinical trials aimed at expanding the use of its drugs in ovarian cancer and other cancers.

 
Novartis AG

Swiss multinational pharmaceutical corporation Novartis AG is significantly contributing to the market growth by making strategic investments in targeted therapies and immuno-oncology. The company is engaged in exploring drug combinations and next-generation therapies that could effectively treat ovarian cancer. Novartis is also involved in acquisitions and partnerships to expand its oncology portfolio.

Other key players in the market include Amgen Inc., Bristol-Myers Squibb Company, Boston Scientific Corporation, F. Hoffmann-La Roche Ltd., AbbVie Inc., and GSK plc., among others.

Key Highlights of the Report

Key Questions Answered in the Ovarian Cancer Market Report

• What was the ovarian cancer market value in 2023?
• What is the ovarian cancer market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is market segmentation based on treatment type?
• What is the market breakup based on cancer type?
• What is the market breakup by route of administration?
• Who are the major end users in the market?
• What are the major factors aiding the ovarian cancer market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• How do the prevalence and incidence of ovarian cancer affect the market landscape?
• What are the major ovarian cancer market trends?
• How does the rise in healthcare expenditure impact the market size?
• Which treatment type will dominate the market share? 
• Which cancer type is expected to have a high market value in the coming years?
• Which route of administration will experience the highest demand in the market segment?
• Which end user is projected to contribute to the highest market growth?
• Who are the key players involved in the ovarian cancer market?
• What is the patent landscape of the market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers and acquisitions among the key market players shaping the market dynamics?