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In 2024, the oncology drug market remained at the core of the global pharmaceutical industry, reaching new sales milestones and demonstrating unprecedented growth potential. As precision medicine and immuno-oncology continue to advance, innovative drugs such as targeted therapies and immune checkpoint inhibitors have achieved remarkable commercial success worldwide. Leading cancer drugs not only continue to climb in sales but also drive technological innovation in cancer treatment, benefiting countless patients. By analyzing the top 10 oncology products ranked by 2024 sales, we can explore how these drugs are shaping the future of cancer treatment and their significance to pharmaceutical companies and the broader healthcare system.
The chart below shows the 2024 global sales and year-on-year changes of the top 10 oncology products.
Market Analysis: Keytruda continued its reign as the top-selling drug, approaching $30 billion in global sales. As a Pipeline-in-a-pill (PIP) drug, similar to the former blockbuster Humira, it continues to gain new approvals. It was approved for use as a neoadjuvant/adjuvant therapy for resectable NSCLC and in combination with Padcev (enfortumab vedotin) and chemotherapy for other cancers. Patent protection expires in 2028, with peak sales expected by 2027.
Market Analysis: Transformed treatment of multiple myeloma by targeting CD38. The subcutaneous form (Darzalex Faspro) improves patient compliance. Sales growth continues with strong market positioning.
Market Analysis: Continued growth with new FDA approvals. Subcutaneous version (Opdivo Qvantig) leads innovation ahead of competitors.
Market Analysis: Third-generation EGFR TKI with high specificity and efficacy in EGFR-mutant NSCLC, including T790M resistance mutations.
Market Analysis: Despite declining sales, Imbruvica remains a key oncology asset targeting BTK in malignant B cells.
Market Analysis: Approved across multiple stages of prostate cancer, Xtandi continues to grow with strong patent protection through 2027.
Market Analysis: Long-time frontline therapy for multiple myeloma, now facing generic competition post-2022.
Market Analysis: High selectivity for CDK4, shows strong efficacy and tolerability in HR+ HER2- breast cancer. Rapid sales growth.
Market Analysis: First PARP inhibitor with wide applicability in BRCA-mutated cancers. Sales continue to grow with expanded indications.
Market Analysis: Expanded indications and combination therapies drive adoption. Imfinzi plays an increasing role in multi-cancer treatment.
From the comparison chart of modality quantities (Figure 2), it can be seen that small molecules have a slight advantage in the top ten oncology products. Among the top ten oncology products, there are 6 small molecule drugs and 4 monoclonal antibodies. Other modalities, including cell and gene therapies, have not yet entered the top ten rankings. Moreover, these 6 small molecule drugs are strictly considered small molecules, excluding peptides and oligonucleotides.
Although small molecules have a slight advantage in quantity, the top three products in the rankings are all monoclonal antibodies, with sales nearing or exceeding 10 billion USD. The highest-selling small molecule oncology product, Tagrisso, has sales of 6.6 billion USD, which is less than a quarter of the top-selling Keytruda's sales.
From a total sales perspective, the small molecule drugs in the top ten have a total sales of 35.1 billion USD in 2024, while the monoclonal antibody drugs have a total sales of 55.2 billion USD (Figure 3).
From the perspective of tumor classification based on indications (Figure 4), the vast majority of the top ten products target solid tumors (7). There are 3 blood cancer products: the second-ranked Darzalex (for multiple myeloma, 11.7 billion USD), the fifth-ranked Imbruvica (for chronic lymphocytic leukemia, 6.4 billion USD), and the seventh-ranked Revlimid (for multiple myeloma, 5.8 billion USD).
From a total sales perspective (Figure 5), the total sales of solid tumor drugs in the top ten oncology products for 2024 reach 66.4 billion USD, nearly three times the total sales of blood cancer products (23.9 billion USD).
Looking at the situation where Darzalex has overtaken Opdivo to become the second-highest-selling oncology product, as well as the significant sales advantage in solid tumor products, it can be inferred that the blood cancer market presents a substantial unmet need and clear development potential. In the future, more cell and gene therapies may enter this field and play an increasingly important role.
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