What’s driving growth in India’s oncology market?

One notable development is the use of gold nanoparticles in cancer diagnostics.

The increasing prevalence of cancer and a trend towards research and development (R&D) are driving India’s oncology market, which is projected to rise by $1.49b at a compound annual growth rate of 17.43%, said Technavio.

The sector is witnessing significant investments in R&D. One development includes the use of gold nanoparticles in cancer diagnostics.

“This approach combines a therapeutic agent and a diagnostic agent with gold nanoparticles, enabling effective tumour monitoring and a better understanding of cancer drug effectiveness,” the report said.

Meanwhile, advancements in the post-genomic era, such as DNA sequencing, biomarker discovery, and drug delivery methods, have contributed to early diagnosis and treatment.

The market is expanding particularly in areas such as lung cancer, breast cancer, colorectal cancer, prostate cancer, and various forms of leukaemia and lymphoma.

Partnerships between the medical devices industry and oncology solutions providers are driving innovation in the sector, with key trends including targeted therapies, personalised medicine, and immuno-oncology.

“The lung cancer segment is a major focus,” the report added.