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Targeted Cancer Therapies Market By Size, Emerging Trends, Outlook, and Growth Opportunity Analysis, 2018-2026
Targeted Cancer Therapies Market Size and Growth
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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.
Targeted Cancer Therapies Market Taxonomy:
On the basis of type, the global targeted cancer therapies market is segmented into:
Monoclonal antibodies
Immunotherapy
Antibody-Drug Conjugate (ADC)
Others
On the basis of application, the global targeted cancer therapies market is segmented into:
Breast cancer
Colorectal cancer
Lung cancer
Melanoma
Gastrointestinal
Others (Leukemia, Lymphoma, Prostate cancer)
Increased cost of therapy is a major constraint factor in the targeted cancer therapies market
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