Oncologists Industry Profile

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Excerpt from 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 17 million new cancer cases and about 9.5 million cancer-related deaths were reported in 2018, according to the World Health Organization.

About 20,000 oncologists practice in the US, according to the American Society of Clinical Oncology.


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.


Oncologists diagnose and treat tumors, perform surgery, tracking remission patients, provide medical support to terminally ill patients, and performing researches. In addition to revenue from diagnosis and disease management, a significant portion of industry revenue comes from the sale of pharmaceuticals. Revenue is also generated from laboratory and image testing fees.

Within the general practice of oncology, the industry is segmented into subspecialties based on treatment ...

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