Targeted Therapy Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth

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What Will the Targeted Therapy Industry Market Size Be by 2025?
The market size for targeted therapy has exhibited substantial growth in the past few years. The market is projected to escalate from $103.84 billion in 2024 to $111.47 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.3%. Progresses in molecular biology, a rise in cancer rates, the emergence of personalized medicine, FDA endorsements, and regulatory backing have largely contributed to this surge during the historic period.

What's the Long-Term Growth Forecast for the Targeted Therapy Market Size Through 2029?
In the coming years, the market size for targeted therapy is predicted to witness robust expansion, with projections showing it could reach $151.48 billion by 2029, experiencing a compound annual growth rate (CAGR) of 8.0%. Several factors are likely to contribute to this increase during the forecast period, including the rapid expansion of oncology research, growing demand for precision medicine, the advent of immunotherapies, a rise in biopharmaceutical investments, and heightened patient awareness and advocacy. The forecast period may also see major trends such as incorporating artificial intelligence in drug discovery, more patient advocacy and involvement in treatment plans, extension of companion diagnostics, regulatory backing for quicker approvals, and an upsurge in biotechnology and pharmaceutical investment.

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What Are the Key Growth Drivers Fueling the Targeted Therapy Market Expansion?
The escalating incidences of cancer are anticipated to drive the expansion of the targeted therapy market. Cancer refers to illnesses characterized by abnormal cells that can invade surrounding tissues and multiply unrestrainedly. Targeted therapy works by disrupting the signals stimulating the proliferation of cancer cells or command the cells to destroy themselves. It employs drugs to precisely target the genes and proteins fostering the growth and longevity of the cancer cells, thus augmenting its demand. As an illustration, in January 2024, the American Cancer Society, a nonprofit cancer advocacy organization based in the US, reported that the number of cancer cases saw a hike to 2,001,140 from 1,958,310 in 2023, epitomizing a growth rate of 2.19%. Hence, the rising prevalence of cancer is set to spearhead the growth of the targeted therapy market.

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What Are the Key Trends Driving Targeted Therapy Market Growth?
Leading organizations in the targeted therapy market are concentrating on the creation of novel technological solutions to consolidate their market position. For instance, Novartis AG, a pharmaceutical corporation headquartered in Switzerland, in March 2022, introduced Pluvicto. It received approval from the US Food and Drug Administration (FDA) and became the first FDA-certified targeted radioligand therapy (RLT) accessible to eligible patients with mCRPC. Pluvicto integrates a therapeutic radioisotope with a targeted radioactive particle. It represents a category of targeted cancer therapy where a therapeutic radioisotope is merged with a chemical that targets specific cells. Pluvicto attaches itself to targeted cells in the bloodstream, such as prostate cancer cells which represent the transmembrane protein PSMA. Upon attachment, the energy emissions from the radioisotope harm the targeted cells including surrounding cells, obstructing their replication process, and potentially causing cellular death.

How Is the Targeted Therapy Market Segmented?
The targeted therapy market covered in this report is segmented -

1) By Type: Small Molecule Medicines, Monoclonal Antibodies
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
3) By Application: Breast Cancer, Colorectal Cancer, Leukemia, Lung Cancer, Lymphoma, Renal Cancer, Other Applications

Subsegments:
1) By Small Molecule Medicines: Tyrosine Kinase Inhibitors (TKIs), Proteasome Inhibitors, Phosphatidylinositol 3-Kinase (PI3K) Inhibitors, Other Small Molecule Therapies
2) By Monoclonal Antibodies: Immune Checkpoint Inhibitors, Antibody-Drug Conjugates (ADCs), Cytokine Blockers, Other Monoclonal Antibodies

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Which Companies Are Leading the Charge in Targeted Therapy Market Innovation?
Major companies operating in the targeted therapy market include Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd, Merck & Co Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Bristol Myers Squibb, AstraZeneca, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Genmab A/S, Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, Agilent Technologies Inc., Illumina Inc., Incyte Corporation, Sysmex Corporation, Exact Sciences Corporation, Seagen Inc., Exelixis Inc., Seattle Genetics Inc., Genentech Inc., Daiichi Sankyo Company Limited

Which Regions Are Leading the Global Targeted Therapy Market in Revenue?
North America was the largest region in the targeted therapy market in 2024. The regions covered in the targeted therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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