Targeted therapy market

Targeted Therapy Market, by Type (Small Molecule Medicines and Monoclonal Antibodies), by Application (Breast Cancer, Colorectal Cancer, Leukemia, Lung Cancer, Lymphoma, Renal Cancer, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Request Free Sample

Dec 2021
CMI4835
225 Pages
Excel & Pdf
Pharmaceutical

Summary

Targeted therapy is emerging pharmacotherapy for cancer. It is a type of precision cancer treatment. Targeted therapy used to treat breast cancer, bladder cancer, colorectal cancer kidney cancer, leukemia, liver cancer, lung cancer, lymphoma and prostate cancer. Targeted therapies are made to find and attack specific areas or substances in cancer cells.

The global targeted therapy market is estimated to be valued at US$ 98.6 Bn in 2021 and is expected to exhibit a CAGR of 9.0% during the forecast period (2021-2028).

Figure 1.Global Targeted Therapy Market in Terms of Value (US$ Billion), By Region, 2021

Strong focus on research and development by market players is estimated to drive the global targeted therapy market growth during the forecast period.

For instance, in 1970, Tamoxifen the first targeted cancer therapy was approved by U.S. Food and Drug Administration. The discovery of oncogenes and tumor suppressor genes, and the completion of human genome sequencing fueled some major advances in treating the cancer. Newly emerging biological and genetic information rapidly prompted the introduction of a large number of new targeted cancer therapies. Thus, key players are investing in the research and development and thereby it is expected to drive the market growth. For instance, Boehringer Ingelheim a pharmaceutical companies announced the initiation of a phase II clinical trial of BI 764198, an inhibitor of TRPC6, a receptor-operated cation channel. This therapy may provide the first potential treatment for COVID-19 related respiratory distress syndrome.

Targeted Therapy Market Report Coverage

Report Coverage	Details
Base Year:	2020	Market Size in 2021:	US$ 98.6 Bn
Historical Data for:	2017 to 2020	Forecast Period:	2021 to 2028
Forecast Period 2021 to 2028 CAGR:	9.0%	2028 Value Projection:	US$ 165.4 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Type: Small Molecule Medicines, Monoclonal Antibodies By Application: Breast Cancer, Colorectal Cancer, Leukemia, Lung Cancer, Lymphoma, Renal Cancer, Others By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Companies covered:	Amgen Inc., GlaxoSmithKline plc, Sanofi, Takeda Pharmaceutical Company Limited, Merck & Co., Inc., Novartis AG, Pfizer Inc., F. Hoffmann-La Roche Ltd, AstraZeneca, Seagen Inc., Bayer AG, and Bristol Myers Squibb
Growth Drivers:	Strategic development by key market players Strong focus on research and development
Restraints & Challenges:	Higher cost of therapy

Figure 2. Global Targeted Therapy Market Share (%), By Type, 2021

Strategic development by key market players is anticipated to propel the global targeted therapy market growth over the forecast period.

Strategic development such as acquisition, collaboration, partnership, and others to strengthen the market position is likely expected to boost the growth of market. For instance, in May 2021, Xilio Therapeutics, a biotechnology company, entered into a clinical trial collaboration and supply agreement with Merck outside the U.S. and Canada, to evaluate XTX101, Xilio’s engineered tumor-selective Fc-enhanced, anti-CTLA-4 monoclonal antibody (mAb) product candidate, in combination with KEYTRUDA (pembrolizumab), Merck’s anti-PD-1 (programmed death receptor-1) therapy.

Global Targeted Therapy Market – Impact of Coronavirus (COVID-19) Pandemic

COVID-19 causes several challenges to cancer practice, especially to ensure continuity of treatment during this period. It has significantly affected healthcare systems and economies within a short timeframe. Various diagnostic & research centres had to slow their activity due to public health measures. Thus, the emerging cancer research was affected due to the COVID-19.

However, targeted therapy is being evaluated in COVID-19 treatment. Thus, by encouraging clinicians to pursue targeted therapy agents during the pandemic is likely expected to create opportunity during the forecast period.

Global Targeted Therapy Market: Restraint

Cost is a major factor influencing the selection of targeted therapy products. The drugs prescribed in targeted therapy treatment are often prohibitively expensive. Thus, higher cost of therapy is likely to hamper the growth of market. For instance, monthly averages of targeted therapy is US$ 5,000 to US$ 10,000 and annual totals over US$ 100,000.

Key Players

Major players operating in the global targeted therapy market include Amgen Inc., GlaxoSmithKline plc, Sanofi, Takeda Pharmaceutical Company Limited, Merck & Co., Inc., Novartis AG, Pfizer Inc., F. Hoffmann-La Roche Ltd, AstraZeneca, Seagen Inc., Bayer AG, and Bristol Myers Squibb.

Table of Content

*Browse 27 market data tables and 31 figures on "Targeted Therapy Market” - Global forecast to 2028

N/A

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global targeted therapy market during the forecast period (2021-2028)?

The global targeted therapy market is estimated to be valued at US$ 98.6 billion in 2021 and is expected to exhibit a CAGR of 9.0% between 2021 and 2028.

What are the major factors driving the market growth?

Strong pipeline products to boost the market growth over the forecast period.

Which is the leading test type segment in the market?

Monoclonal antibodies segment is expected to hold a major market share during the forecast period in the market.

What are the key factors hampering growth of the market?

The major factor hampering growth of the market include higher cost.

Which are the major players operating in the market?

Major players operating in the market include Amgen Inc., GlaxoSmithKline plc, Sanofi, Takeda Pharmaceutical Company Limited, Merck & Co., Inc., Novartis AG, Pfizer Inc., F. Hoffmann-La Roche Ltd, AstraZeneca, Seagen Inc., Bayer AG, and Bristol Myers Squibb.