Women’s Oncology Is Entering Its Next Growth Phase as Investment Moves Beyond Breast Cancer
A new PwC report projects the women’s oncology market could approach $110 billion by 2030. Public companies are already advancing innovation across diagnostics, targeted therapies and immuno-oncology as investment broadens beyond breast cancer.
Women’s oncology is entering a new phase.
A recent report from PwC estimates the global market for women’s oncology could grow from approximately $65 billion to $75 billion today to between $100 billion and $110 billion by 2030, reflecting annual growth of 7% to 9%. While breast cancer has historically attracted the largest share of research funding and commercial investment, the report suggests the next wave of opportunity may come from historically underserved gynecologic cancers, including ovarian, cervical and endometrial cancers.
The report also highlights an imbalance that continues to shape the sector. Breast cancer has benefited from decades of sustained investment, while many gynecologic cancers continue to receive comparatively less research funding despite significant unmet medical need. According to PwC, ovarian cancer received approximately $43,000 in NIH research funding per death in 2025, compared with nearly $70,000 for breast cancer.
For investors, the implications extend well beyond a growing market opportunity. Innovation is emerging across the entire patient journey, from earlier detection and screening to new targeted therapies and immunotherapies designed to improve survival.
Earlier Detection Moves Beyond the Clinic
Earlier diagnosis remains one of the largest unmet needs in women’s oncology, particularly in cervical and ovarian cancers, where outcomes are closely tied to how early disease is detected.
PwC identifies technologies such as liquid biopsy, AI-enabled diagnostics and at-home testing as important areas of future investment.
That trend was reflected earlier this year when Waters Corporation (NYSE: WAT) announced FDA clearance of the Onclarity HPV Self-Collection Kit and approval of the BD Onclarity HPV Assay for at-home use. The test allows eligible patients to collect cervical screening samples at home before laboratory analysis, addressing one of the biggest barriers to routine screening. According to Waters, approximately 60% of cervical cancer cases occur in women who are unscreened or under-screened.
New Standards of Care Continue to Emerge
Treatment innovation is also accelerating.
Earlier this year, Corcept Therapeutics (NASDAQ: CORT) received FDA approval for Lifyorli (relacorilant) in combination with nab-paclitaxel for platinum-resistant ovarian cancer. More recently, the company presented Phase 3 ROSELLA data at the 2026 ASCO Annual Meeting showing a 35% reduction in the risk of death compared with chemotherapy alone, with benefits observed across prespecified patient subgroups. The therapy has also been incorporated into the NCCN Clinical Practice Guidelines as a preferred treatment option for eligible patients.
Corcept continues to evaluate relacorilant across additional gynecologic cancers, including endometrial and cervical cancer, illustrating how companies are increasingly seeking to expand beyond single indications.
The Next Generation of Ovarian Cancer Therapies
Beyond newly approved therapies, several emerging biotechnology companies are pursuing different strategies aimed at improving outcomes in ovarian cancer.
Verastem Oncology (NASDAQ: VSTM) continues to build its ovarian cancer franchise following the commercial launch of AVMAPKI FAKZYNJA CO-PACK while advancing its confirmatory Phase 3 RAMP-301 trial in recurrent low-grade serous ovarian cancer. If successful, the study could further expand treatment options in this rare but difficult-to-treat disease.
IMUNON (NASDAQ: IMNN) is advancing its DNA-mediated immunotherapy IMNN-001 in the pivotal Phase 3 OVATION 3 study for newly diagnosed advanced ovarian cancer. The trial follows encouraging Phase 2 data that demonstrated a meaningful improvement in overall survival, and in June the independent Data Monitoring Committee recommended the study continue without modification, allowing enrollment to proceed toward its planned interim analyses.
Earlier-stage companies are also exploring entirely new biological approaches. BioLineRx (NASDAQ: BLRX) recently reported preclinical data showing its investigational small molecule GLIX1 enhanced the activity of PARP inhibitors in homologous recombination-proficient ovarian cancer models. While still early, the research highlights continued efforts to expand the benefit of established targeted therapies into patient populations that currently have fewer effective treatment options.
More Than a Pharmaceutical Story
While pharmaceuticals are expected to represent nearly 70% of the women’s oncology market by 2030, the PwC report argues that opportunity extends well beyond drug development. Diagnostics, medical devices, AI-assisted screening, molecular testing and longitudinal care delivery are all expected to play increasingly important roles as healthcare systems focus on earlier detection and more personalized treatment.
For public market investors, women’s oncology is becoming more than a single therapeutic category. It is evolving into a broader ecosystem of diagnostics, devices and therapeutics, with innovation occurring across every stage of care.
As investment continues to broaden beyond breast cancer, companies developing solutions for ovarian, cervical and endometrial cancers may represent some of the sector’s most closely watched opportunities over the remainder of the decade.
