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Colorectal Cancer Drugs Market 2024 - By Industry Analysis, Future Prediction, Business Overview And Forecast To 2033
Colorectal Cancer Drugs Market
Colorectal Cancer Drugs Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $26.39 billion In 2028 At A CAGR Of 6.2% :
The colorectal cancer drugs market size has grown strongly in recent years. It will grow from $19.51 billion in 2023 to $20.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to integration of multimodal approaches, introduction of chemotherapy, advancements in surgical techniques, emergence of targeted therapies, clinical trials and research.
The colorectal cancer drugs market size is expected to see strong growth in the next few years. It will grow to $26.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rise in personalized treatment, patient-centric care models, expansion of targeted therapies, adoption of combination therapies, regulatory acceleration. Major trends in the forecast period include immunotherapy advancements, precision medicine evolution, combination therapies, biomarker research and use, clinical trials innovation.
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Colorectal Cancer Drugs Market Major Segments
The colorectal cancer drugs market covered in this report is segmented -
1) By Type: Vascular Endothelial Growth Factor (VEGF) Inhibitors, Epidermal Growth Factor Receptor (EGFR) Inhibitors, Programmed Cell Death Protein 1/PD1 Ligand 1 (PD1/PDL1) Inhibitors, BRAF or MEK Inhibitors, Tyrosine Kinase (TKI) Inhibitors, Immunomodulators
2) By Class: Immunotherapy, Chemotherapy, Other Classes
3) By Distribution Channels: Hospitals Pharmacies, Retail Pharmacies, Other Distribution Channels
Key Driver - Rising Demand For Personalized Medicines Drives Growth In Colorectal Cancer Drugs Market
The increasing demand for personalized medicines is expected tom propel the growth of the colorectal cancer drugs market going forward. Personalized medicine, also known as precision medicine, is an approach to medical treatment and healthcare that takes into account individual variations in patients' genes, environments, and lifestyles. Personalized medicine is transforming the approach to CRC treatment, offering more individualized and effective care for patients. It is likely to continue driving the growth of the CRC drug market as research and drug development efforts become more tailored to specific genetic and molecular profiles. For instance, in October 2022, according to reports published by STAT, a US-based health-oriented news company, there were more than 75,000 genetic testing products and 300 personalized medicines. Therefore, the increasing demand for personalized medicine is driving the growth of the colorectal cancer drugs market.
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Prominent Trend - Advancements In Targeted Therapies For Metastatic Colorectal Cancer
Targeted therapies have already begun to extend the lifespan of metastatic Colorectal cancer patients compared with chemotherapy-only therapy. Target therapy includes hormone therapies, gene expression modulators, apoptosis inducers, angiogenesis inhibitors, immunotherapies, signal transduction inhibitors, and toxin delivery molecules. Targeted therapy is attaining importance due to its specificity toward cancer cells while sparing the toxicity to off-target cells. Opdivo and Keytruda are examples of targeted therapies.
Colorectal Cancer Drugs Market Players
Major companies operating in the colorectal cancer drugs market report are Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Bristol-Myers Squibb Company, AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, F. Hoffmann-La Roche Ltd., Danaher Corporation, Eli Lilly and Company, Amgen Inc., Siemens Healthineers AG, Astellas Pharma Inc., Servier Laboratories, Eisai Co. Ltd., Sumitomo Dainippon Pharma Co. Ltd., Ipsen SA, Taiho Pharmaceutical Co. Ltd., Kyowa Kirin Co. Ltd., Metabiomics Corporation, Randox Laboratories, Taiho Oncology Inc., EDP Biotech Corporation, Genomic Tree Inc., Ono Pharmaceutical Co. Ltd., Epigenomics AG, Daiichi Sankyo Company Limited, Otsuka Pharmaceutical Co. Ltd., Mundipharma International Limited, Teva Pharmaceutical Industries Ltd., Biogen Inc., Gilead Sciences Inc., Johnson & Johnson Services Inc., Spectrum Pharmaceuticals Inc., Exelixis Inc., Seattle Genetics Inc., Incyte Corporation, Clovis Oncology Inc., Karyopharm Therapeutics Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the colorectal cancer drugs market in 2023. The Middle East is expected to be the fastest-growing region in the global colorectal cancer drugs market share during the forecast period. The regions covered in the colorectal cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Colorectal Cancer Drugs Market Report Structure
3. Colorectal Cancer Drugs Market Trends And Strategies
4. Colorectal Cancer Drugs Market - Macro Economic Scenario
5. Colorectal Cancer Drugs Market Size And Growth
…..
27. Colorectal Cancer Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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