Targeted Cancer Therapies Market Foreseen to Grow Exponentially over 2026

Targeted cancer therapies are drugs which block the growth and proliferation of cancer by interfering with specific molecules such as DNA or proteins, which are involved in the growth or expansion of cancerous cells. Targeted cancer therapies differ in several ways from standard chemotherapy. Standard chemotherapy act on all rapidly dividing cancerous cells as well as normal cells, while targeted cancer therapies act on specific molecular targets that are associated with cancer. Standard chemotherapy agents are cytotoxic that kill tumor cells, while targeted therapies are often cytostatic that blocks tumor cell proliferation. Targeted therapies uses information about a person’s gene and protein to prevent, diagnose, and treat disease, which makes them extremely applicable in the making of precision medicine. Targeted therapy drugs are mainly used for the treatment of cancer, and are mostly used along with another treatments such as chemotherapy, surgery, and radiation therapy.

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Targeted cancer therapies market is growing due to the increasing incidences of cancers such as breast cancer, lung cancer, colorectal cancer, gastrointestinal cancer and among others. According to the National Cancer Institute, in 2016, around 1,685,210 new cases of cancer were diagnosed in U.S. and 5,95,690 people died from the disease. However, increasing cancer research funding, rising insurance coverage and increase in number of new targeted anti-cancer drugs supports the revenue growth of targeted cancer therapies market. National Cancer Institute, in 2015, spent around US$ 4,480 million on cancer research which include lung cancer, colorectal cancer, liver cancer, breast cancer, leukemia, ovarian cancer, uterine cancer, and cervical cancer. In addition, according to the American Cancer Society, U.S. has spent around US$ 87.8 billion in 2014 on cancer research, in which the major cost accounting for around 44%, was paid by private insurance companies. Conversely, high prices associated with targeted therapies is expected to hamper the growth of targeted cancer therapies market.

Key Players in the Global Targeted Cancer Therapies Market

Some of the key players operating in the targeted cancer therapies market include Abbott Laboratories, Bayer AG, Boehringer Ingelheim GmbH, GlaxoSmithKline plc, AstraZeneca PLC, OncoGenex Pharmaceuticals Inc., Pfizer, Inc., AVEO Pharmaceuticals Inc., and CYTOKINETICS INC.

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