Targeted Cancer Therapy Market
Targeted Cancer Therapy Market Forecasts to 2030 - Global Analysis By Type (Monoclonal Antibodies, Rituximab, Small-Molecules, Amino Acids, Immunotoxins, Diphtheria toxin (DT), Pseudomonas exotoxins and Other Types), By Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Blood Cancer, Gynecologic Cancer and Other Cancer Types), By Route of Administration (Oral, Parenteral and Other Route of Administrations), Distribution Channel, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $76.1 BN |
|
Projected Year Value (2030) |
US $137.4 BN |
|
CAGR (2023 - 2030) |
8.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Targeted Cancer Therapy Market is accounted for $76.1 billion in 2023 and is expected to reach $137.4 billion by 2030 growing at a CAGR of 8.8% during the forecast period. Targeted cancer therapy is a precision medicine approach that involves using drugs or other substances to specifically identify and attack cancer cells while minimizing damage to healthy cells. This method aims to disrupt the growth and survival of cancer cells, often resulting in fewer side effects compared to traditional chemotherapy.
According to the American Cancer Society reports nearly 1.7 million new cancer cases are expected to be diagnosed in 2019 in the U.S. Similarly, according to the National Cancer Institute, in 2018, around 1,735,350 new cases of cancer were diagnosed in U.S. and 609,640 people died from the disease.
Market Dynamics:
Driver:
Increasing global cancer prevalence
There is a growing need for more effective and targeted treatment approaches. Targeted Cancer Therapy offers precision in addressing specific molecular and genetic aberrations driving cancer, leading to enhanced therapeutic outcomes. The rising burden of diverse cancer types, coupled with advancements in understanding the genetic basis of cancers, propels the development and adoption of targeted therapies. This driver underscores the urgency to develop innovative and personalized treatment options, aligning with the global healthcare imperative to improve cancer care and outcomes in the face of a rising and diverse cancer landscape.
Restraint:
Financial burden associated with targeted therapies
These therapies offer precise and effective treatments, their high costs often create challenges in terms of affordability and accessibility. The development and production of targeted cancer drugs involve complex processes and substantial research investments, leading to elevated pricing. Additionally, the need for ongoing monitoring, molecular testing, and personalized treatment plans contribute to the overall financial strain on patients and healthcare systems. The expense associated with targeted therapies may limit access for certain patient populations, raising concerns about healthcare disparities.
Opportunity:
Supportive policies and funding for cancer research
Governments and healthcare organizations worldwide are increasingly recognizing the potential of targeted therapies in revolutionizing cancer treatment. Initiatives that foster research, development, and clinical trials through funding and supportive policies create an environment conducive to innovation. This financial backing accelerates the discovery of novel targeted therapies, expedites regulatory approvals, and enhances market accessibility. The collaboration between public and private sectors, backed by robust funding, not only propels scientific advancements but also ensures that cutting-edge targeted cancer therapies can reach patients more swiftly, addressing unmet medical needs and contributing to the evolution of cancer care.
Threat:
Adverse effects associated with targeted therapies
While these therapies aim for precision in attacking cancer cells, off-target effects and unintended consequences may lead to adverse reactions. Patients undergoing targeted therapy may experience side effects such as fatigue, skin reactions, gastrointestinal issues, and immune-related complications. Additionally, the potential for resistance to targeted drugs and long-term effects remains a concern. Adverse effects not only impact the quality of life for patients but may also result in treatment discontinuation.
Covid-19 Impact:
The Covid-19 pandemic has significantly impacted the market. Disruptions in healthcare systems, reprioritization of resources, and delays in clinical trials have hindered the development and accessibility of targeted therapies. Patient concerns and logistical challenges have affected treatment adherence. However, the pandemic has underscored the importance of innovative therapies, accelerating the adoption of telemedicine and digital health solutions in cancer care.
The breast cancer segment is expected to be the largest during the forecast period
The breast cancer segment is expected to have a lucrative growth. Targeted therapies for breast cancer include drugs like HER2 inhibitors and CDK4/6 inhibitors, aiming to address specific molecular characteristics. These therapies offer improved efficacy with fewer side effects compared to conventional treatments. The evolving landscape of targeted therapies for breast cancer underscores the commitment to personalized medicine, providing more tailored and effective treatment options for patients, particularly those with HER2-positive or hormone receptor-positive breast cancer subtypes.
The hospitals segment is expected to have the highest CAGR during the forecast period
The hospitals segment is anticipated to witness the fastest CAGR growth during the forecast period. They provide a crucial infrastructure for patient diagnosis, treatment planning, and the delivery of targeted therapies. With specialized oncology departments and multidisciplinary teams, hospitals facilitate patient access to cutting-edge targeted cancer therapies. Additionally, hospitals contribute to clinical trials, research collaborations, and the overall advancement of personalized cancer care, making them central to the evolving landscape of targeted therapy interventions.
Region with largest share:
During the forecast period, it is expected that the North American Targeted Cancer Therapy market will continue to hold a majority of the market share. The region's robust pharmaceutical industry and supportive regulatory environment foster the development and adoption of innovative targeted therapies. Additionally, collaborations between academia, research institutions, and biopharmaceutical companies contribute to the rapid evolution of precision medicine approaches. North America continues to be a key hub for clinical trials, driving advancements in personalized cancer treatment and influencing global trends in the Targeted Cancer Therapy landscape.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period. Factors such as increasing cancer incidence, rising healthcare awareness, and advancements in personalized medicine contribute to market expansion. Countries like China, Japan, and India are witnessing significant research and development activities, fostering the adoption of targeted therapies. The region's evolving healthcare infrastructure and supportive regulatory environments position Asia Pacific as a key hub for the development, commercialization, and adoption of innovative targeted cancer treatments.
Key players in the market
Some of the key players in Targeted Cancer Therapy market include Abbott, Pfizer Inc., Sun Pharmaceutical Industries Ltd., Amneal Pharmaceuticals LLC., Novartis AG, Aurobindo Pharma, Mirati Therapeutics, Inc, Bayer AG, Merck & Co. Inc., Bristol-Myers Squibb Company, Cipla Inc., F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc, Johnson & Johnson, Hikma Pharmaceuticals PLC and ImmunoGen, Inc.
Key Developments:
In July 2023, Genentech, Inc received approval from United States FDA for Tecentriq (atezolizumab) for adult and pediatric patients two years of age and older with unresectable or metastatic alveolar soft part sarcoma (ASPS).
In December 2022, AstraZeneca and Daiichi Sankyo’s Enhertu (trastuzumab deruxtecan) was approved in the United States for the treatment of adult patients with unresectable or metastatic non-small cell lung cancer (NSCLC) whose tumors have activating HER2 (ERBB2) mutations, as detected by an FDA-approved test, and who have received prior systemic therapy.
Types Covered:
• Monoclonal Antibodies
• Rituximab
• Small-Molecules
• Amino Acids
• Immunotoxins
• Diphtheria toxin (DT)
• Pseudomonas exotoxins
• Other Types
Cancer Types Covered:
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Blood Cancer
• Gynecologic Cancer
• Other Cancer Types
Route of Administrations Covered:
• Oral
• Parenteral
• Other Route of Administrations
Distribution Channels Covered:
• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy
End Users Covered:
• Hospitals
• Cancer and Radiation Therapy Centers
• Specialty Clinics
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Targeted Cancer Therapy Market, By Type
5.1 Introduction
5.2 Monoclonal Antibodies
5.3 Rituximab
5.4 Small-Molecules
5.5 Amino Acids
5.6 Immunotoxins
5.7 Diphtheria toxin (DT)
5.8 Pseudomonas exotoxins
5.9 Other Types
6 Global Targeted Cancer Therapy Market, By Cancer Type
6.1 Introduction
6.2 Lung Cancer
6.3 Breast Cancer
6.4 Colorectal Cancer
6.5 Blood Cancer
6.6 Gynecologic Cancer
6.7 Other Cancer Types
7 Global Targeted Cancer Therapy Market, By Route of Administration
7.1 Introduction
7.2 Oral
7.3 Parenteral
7.4 Other Route of Administrations
8 Global Targeted Cancer Therapy Market, By Distribution Channel
8.1 Introduction
8.2 Hospital Pharmacy
8.3 Online Pharmacy
8.4 Retail Pharmacy
9 Global Targeted Cancer Therapy Market, By End User
9.1 Introduction
9.2 Hospitals
9.3 Cancer and Radiation Therapy Centers
9.4 Specialty Clinics
9.5 Other End Users
10 Global Targeted Cancer Therapy Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Abbott
12.2 Pfizer Inc.
12.3 Sun Pharmaceutical Industries Ltd.
12.4 Amneal Pharmaceuticals LLC.
12.5 Novartis AG
12.6 Aurobindo Pharma
12.7 Mirati Therapeutics, Inc
12.8 Bayer AG
12.9 Merck & Co. Inc.
12.10 Bristol-Myers Squibb Company
12.11 Cipla Inc.
12.12 F. Hoffmann-La Roche Ltd
12.13 GlaxoSmithKline plc
12.14 Johnson & Johnson
12.15 Hikma Pharmaceuticals PLC
12.16 ImmunoGen, Inc
List of Tables
1 Global Targeted Cancer Therapy Market Outlook, By Region (2021-2030) ($MN)
2 Global Targeted Cancer Therapy Market Outlook, By Type (2021-2030) ($MN)
3 Global Targeted Cancer Therapy Market Outlook, By Monoclonal Antibodies (2021-2030) ($MN)
4 Global Targeted Cancer Therapy Market Outlook, By Rituximab (2021-2030) ($MN)
5 Global Targeted Cancer Therapy Market Outlook, By Small-Molecules (2021-2030) ($MN)
6 Global Targeted Cancer Therapy Market Outlook, By Amino Acids (2021-2030) ($MN)
7 Global Targeted Cancer Therapy Market Outlook, By Immunotoxins (2021-2030) ($MN)
8 Global Targeted Cancer Therapy Market Outlook, By Diphtheria toxin (DT) (2021-2030) ($MN)
9 Global Targeted Cancer Therapy Market Outlook, By Pseudomonas exotoxins (2021-2030) ($MN)
10 Global Targeted Cancer Therapy Market Outlook, By Other Types (2021-2030) ($MN)
11 Global Targeted Cancer Therapy Market Outlook, By Cancer Type (2021-2030) ($MN)
12 Global Targeted Cancer Therapy Market Outlook, By Lung Cancer (2021-2030) ($MN)
13 Global Targeted Cancer Therapy Market Outlook, By Breast Cancer (2021-2030) ($MN)
14 Global Targeted Cancer Therapy Market Outlook, By Colorectal Cancer (2021-2030) ($MN)
15 Global Targeted Cancer Therapy Market Outlook, By Blood Cancer (2021-2030) ($MN)
16 Global Targeted Cancer Therapy Market Outlook, By Gynecologic Cancer (2021-2030) ($MN)
17 Global Targeted Cancer Therapy Market Outlook, By Other Cancer Types (2021-2030) ($MN)
18 Global Targeted Cancer Therapy Market Outlook, By Route of Administration (2021-2030) ($MN)
19 Global Targeted Cancer Therapy Market Outlook, By Oral (2021-2030) ($MN)
20 Global Targeted Cancer Therapy Market Outlook, By Parenteral (2021-2030) ($MN)
21 Global Targeted Cancer Therapy Market Outlook, By Other Route of Administrations (2021-2030) ($MN)
22 Global Targeted Cancer Therapy Market Outlook, By Distribution Channel (2021-2030) ($MN)
23 Global Targeted Cancer Therapy Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
24 Global Targeted Cancer Therapy Market Outlook, By Online Pharmacy (2021-2030) ($MN)
25 Global Targeted Cancer Therapy Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
26 Global Targeted Cancer Therapy Market Outlook, By End User (2021-2030) ($MN)
27 Global Targeted Cancer Therapy Market Outlook, By Hospitals (2021-2030) ($MN)
28 Global Targeted Cancer Therapy Market Outlook, By Cancer and Radiation Therapy Centers (2021-2030) ($MN)
29 Global Targeted Cancer Therapy Market Outlook, By Specialty Clinics (2021-2030) ($MN)
30 Global Targeted Cancer Therapy Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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