UK Oncology Therapeutics Market Analysis

UK Oncology Therapeutics Market Analysis Summary

By 2030, it is anticipated that the UK Oncology Therapeutics Market will reach a value of $7.7 Bn from $4.7 Bn in 2022, growing at a CAGR of 6.4% during 2022-30.

The UK is a high-income, developed island country spanning an archipelago including Great Britain, located in Western Europe comprising England, Scotland, Wales, and Northern Ireland. There are around 375,000 new cancer cases in the UK every year, that is around 1,000 every day (2016-2018). Breast, prostate, lung, and bowel cancers together accounted for over half (53 %) of all new cancer cases in the UK in 2016-2018. There are around 167,000 cancer deaths in the UK every year, that is nearly 460 every day (2017-2019).

Around a fifth of all cancer deaths are from lung cancer. In England and Wales, half (50%) of people diagnosed with cancer live for ten years or longer. Smoking is the largest cause of cancer in the UK, accounting for 15 % of all cancer cases. the 100,000 Genomes Project has helped improve the analysis of cancer for better patient treatment. UK's government spent 12 % of its GDP on healthcare in 2020.

Market Dynamics

Market Growth Drivers Analysis

England meets the national standard for the %age of patients seen by a specialist within two weeks of receiving an urgent GP referral for suspected cancer. As part of their primary cancer treatment, 45 % of patients diagnosed with cancer in England in 2013-2014 underwent tumour removal surgery. 27 % of patients diagnosed with cancer in England during 2013-2014 had curative or palliative radiotherapy, as part of their primary cancer treatment. Almost half (46 %) of all cancer cases were diagnosed at stages 3 & 4 in England in 2018 – that is more than 118,000 cases.

The UK government plays a significant role in the cancer drug market through the National Health Service (NHS) which funds the majority of cancer drug spending in the UK and by implementing policies that promote the development and use of new cancer treatments. Overall, most cancer patients in England report positive experiences of cancer care. These aspects could boost UK Oncology Therapeutics Market.

Market restraints

The number of cancer medications being created and released onto the market has significantly increased in the UK in recent years. As a result, the environment for UK-based pharmaceutical firms has become more competitive. Cancer patients may find it difficult to afford the expensive medications they require because of this. Additionally, the high cost of cancer medications can make it difficult for healthcare providers to afford to provide them, straining healthcare budgets. For businesses looking to market new cancer medications, the regulatory approval process for those medications can be time-consuming and expensive. These factors may deter new entrants into the UK Oncology Therapeutics Market.

Competitive Landscape

Key Players

• AstraZeneca: AstraZeneca is a British-Swedish multinational pharmaceutical company that specializes in the development and production of a wide range of cancer therapeutics, including chemotherapy drugs, targeted therapies, and immunotherapies
• GlaxoSmithKline (GSK): GSK is a British multinational pharmaceutical company that develops and produces a range of cancer therapeutics, including chemotherapy drugs and targeted therapies
• Oxford BioMedica: Oxford BioMedica is a British biopharmaceutical company that focuses on the development of gene and cell therapies for the treatment of cancer
• Scancell: Scancell is a British biotechnology company that specializes in the development of novel immunotherapies for the treatment of cancer. The company is currently developing several cancer vaccines and immunotherapies for a range of cancer types

Notable Recent Deals

January 2023: BioNTech SE has signed a deal with the UK government to enrol up to 10,000 patients in clinical trials by the end of 2030 for personalised cancer therapies. The multi-year collaboration is focused on cancer immunotherapies based on mRNA or other drug classes, infectious disease vaccines, and investments in expanding the company's footprint in the UK.

November 2022: The Biomedical Catalyst (BMC) programme at Innovate UK is launching a new $ 37 Mn fund to advance life-changing cancer therapeutics. This initiative aims to unleash business-led innovation from the UK’s vibrant research base in immuno-oncology, treatments that guide the patient’s own immune system to target their cancer cells. In addition, this fund will support innovative projects that address unmet medical needs in treating childhood cancers, a leading cause of death between the ages of 0 to 14 in the UK.

Healthcare Policies and Reimbursement Scenarios

The UK currently participates in a centralized process for drug licensing, managed by the European Medicines Agency (EMA). New therapeutics are issued through licenses that are granted by the Medicines and Healthcare Products Regulatory Agency (MHRA). The Cancer Therapeutics Fund (CDF) is a source of funding for cancer Therapeutics in England. The CDF is a scheme in the UK that provides additional funding for cancer drugs that are not routinely available on the NHS. In 2016, a new approach to the appraisal and funding of cancer Therapeutics in England began operating. Once cancer therapeutic has been approved by the MHRA, it may be available for use in both the National Health Service (NHS) and private healthcare sectors.