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Colorectal Cancer Therapeutics Market Set to Witness Y-o-Y Growth by 2021
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North America dominates the global market for colorectal cancer therapeutics due to increasing prevalence of colorectal cancer cases in the region. Moreover, increased awareness about the disease and improved healthcare facilities are driving the market for colorectal cancer therapeutics in this region. The market for colorectal cancer therapeutics in Asia is expected to experience a high growth rate, followed by that in Europe over the next few years. China and India are expected to be the fastest growing colorectal cancer therapeutics markets in the Asian region. This is due to the large population base and increasing prevalence of colorectal cancer cases in these countries. Some of the key driving factors of the colorectal cancer therapeutics market in developing countries are increasing awareness of the disease and improved healthcare facilities in these regions.
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Increased awareness and technological advancement in field has driven the global colorectal cancer therapeutics market. In addition, government initiatives in the field have driven the market for colorectal cancer therapeutics. However, factors such as lack of awareness in some developing regions and reluctance in adoption of colorectal cancer medications in some regions are restraining the colorectal cancer therapeutics market from growing.
Growing demographics and economies in the developing countries such as India and China are expected to offer good opportunities for the global colorectal cancer therapeutics market. Innovation of some new products with better efficiency is expected to offer good opportunity for the global colorectal cancer therapeutics market. Rising number of mergers and acquisitions, new product launches and increasing number of collaborations and partnerships are some of the latest trends that have been observed in global colorectal cancer therapeutics market.
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Some of the major companies involved in the global market for colorectal cancer therapeutics are F. Hoffmann-La Roche Ltd, Eli Lilly and Company, Taiho Pharmaceutical and Merck KGaA. Some other companies having significant presence in the global colorectal cancer therapeutics market are Pfizer, Inc., Bayer HealthCare Pharmaceuticals and Boehringer Ingelheim.
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