Johnson & Johnson (JNJ) is highlighted as a top cancer stock by hedge funds, driven by the booming oncology market and advancements in cancer therapies.Johnson & Johnson (NYSE:JNJ) has been named a top cancer stock by hedge funds, as the global oncology market surges toward $518 billion by 2032.Johnson & Johnson leads hedge funds' cancer stock picksJohnson & Johnson (NYSE:JNJ) has emerged as a top pick among hedge funds for cancer-related investments, according to recent market analysis. The global oncology drugs market, valued at $201.75 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 11.3% to reach $518.25 billion by 2032. North America dominates the market, accounting for 45.92% of the global share in 2023.Driving forces behind the oncology boomThe rising prevalence of cancer worldwide, coupled with advancements in targeted immunotherapies, is fueling the growth of the oncology sector. Johnson & Johnson's robust pipeline of cancer treatments, including its groundbreaking CAR-T cell therapies, positions the company as a leader in this expanding market. Hedge funds are increasingly betting on JNJ's ability to capitalize on these trends, as highlighted in a recent report by a leading financial analysis firm.North America's dominance in the oncology marketNorth America remains the largest market for oncology drugs, driven by high healthcare spending, advanced research infrastructure, and a strong focus on innovation. Johnson & Johnson's strategic investments in R&D and partnerships with biotech firms have solidified its position in this lucrative region. The company's recent FDA approvals for new cancer therapies further underscore its competitive edge.As the global demand for effective cancer treatments continues to rise, Johnson & Johnson is well-positioned to deliver significant returns for investors, making it a standout choice in the hedge funds' portfolio of cancer stocks. https://redrobot.online/2025/03/johnson-johnson-tops-hedge-funds-list-of-best-cancer-stocks-to-buy/