WHY CANCER IS THE NEW CARDIOLOGY FOR HOSPITAL CHAINS

INDIA BEING THE WORLD'S THIRD LARGEST IN CANCER BURDEN, ONCOLOGY IS NOW COMPETING WITH CARDIOLOGY IN DIAGNOSIS, CARE AND MANAGEMENT AT LEADING HEALTHCARE CHAINS.

- Joe C. Mathew

LEADING HEALTHCARE provider, Fortis Healthcare saw oncology (science of treatment of cancer) revenues jump 53% in FY23, the fastest growing among the hospital’s key specialties. With a 13% share in overall revenues of ₹5,107 crore, it was second only to cardiac sciences (18%) in Fortis’ total revenue share. Apollo Hospitals, which treats over 125,000 cancer patients per year, derives 25% revenues from oncology. It accounts for around 18% of total revenue of Max Healthcare, while for Narayana Health it is 14%.

From a business point of view, cancer is emerging as the new cardiology for major Indian private hospital chains. All four hospital chains have invested in robotics to offer precision cancer treatment.

Swiss pharmaceutical major F. Hoffmann-La Roche, global leader in oncology medicines, has lined up over 20 new product launches in the next three-five years for India. Roche, a leader in the area with a 10% share of the domestic market, has seen its brands — Perjeta (74% year-on-year growth in 2022) and Tecentriq (118% YoY growth) — being among India’s top five oncology brands. Of the top five cancer drugs with highest incremental value additions in 2022— Perjeta (Pertuzumab) and Herceptin (Trastuzumab) — were from Roche.

In 2019, Indian oncology start-ups working on new drug research, development of chimeric antigen receptor (CAR-T) cell therapy, imaging devices witnessed their highest funding to date of $27.2 million. Rising incidence of cancer is giving a new fillip to the business of oncology.

The Silent Killer