Oncologists Industry Profile

Physicians in this industry engage in the medical practice of diagnosing and treating cancer. Major US companies include Dana-Farber Cancer Institute, Johns Hopkins, Mayo Clinic, MD Anderson Cancer Center, and Memorial Sloan-Kettering Cancer Center. Leading providers of cancer treatment outside the US include Institut Gustave-Roussy (based in France), the Princess Margaret Hospital (Canada), the Royal Marsden Hospital (the UK), and Sun Yat-Sen University Cancer Center (China).

Cancer rates, as well as death from the disease, continue to increase worldwide. About 20 million new cancer cases and about 10 million cancer deaths were reported in 2022, according to the International Agency for Research on Cancer (IARC).

About 13,000 oncologists practice in the US, according to the American Society of Clinical Oncology (ASCO). Office of physicians, including Oncologists, has about 210,000 establishments with an annual revenue of about $470 billion.

COMPETITIVE LANDSCAPE

Demand for oncologists is driven by the number of people being treated for cancer. Profitability depends on patient volume, insurance reimbursement, reputation, and operational efficiency. Large organizations have economies of scale in purchasing and administration. Small clinics can compete by treating specific types of cancer or patient groups, such as children.

PRODUCTS, OPERATIONS & TECHNOLOGY

Oncologists diagnose and treat tumors, perform surgery, tracking remission patients, provide medical support to terminally ill patients, and performing researches. Oncologists are included in the industry of physicians, which take majority of its revenue from patient care that accounts for about 97%. Other ...