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Increasing Prevalence of Colorectal Cancer Along with Growing Geriatric Population are Likely to Impel the Growth of Colorectal Cancer Therapeutics Market in Future
Colorectal Cancer Therapeutics Market
The global colorectal cancer therapeutics market is segmented into treatment type such as chemotherapy, targeted therapy, immunotherapy, surgery, radiation therapy and embolization. Among these segments, surgery segment is expected to occupy the top position in the market. Surgery is the most common treatment procedure followed by doctors to cure colorectal cancer. Surgical resection is an effective and safe procedure in order to cure colorectal cancer.
Global colorectal cancer therapeutics market is expected to register a 1.9% CAGR over the forecast period. Moreover, the global colorectal cancer therapeutics market was valued at USD 8.5 Billion in 2016 and is expected to reach at notable revenue of 9.8 Billion by the end of 2024. The expansion of the colorectal cancer therapeutics market can be attributed to a number of factors such as increasing prevalence of colorectal cancer and increasing geriatric population across the globe.
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The Asia Pacific segment by region is likely to grow at remarkable pace during the forecast period. Increasing prevalence of colorectal cancer in aged population and improving healthcare infrastructure are likely to be the dynamic factors behind the growth of Asia colorectal cancer therapeutics market during the forecast period. Moreover, increasing awareness amongst the population towards colorectal cancer is also anticipated to foster the growth of market in Asia Pacific region.
Advancements in Medical Science
Increasing Research and development activities to find and develop new approaches to treat colorectal cancer which are safer, effective and possibly better than standard treatment procedures are projected to fuel the growth of global colorectal cancer therapeutics market in near future. Moreover, consumer’s inclination towards advanced treatment procedures is also expected to escalate the growth of global colorectal cancer therapeutics market.
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Favourable government initiatives and programmes
Favorable government initiatives to aware population about colorectal cancer and its treatment are likely to spur the expansion of global colorectal cancer therapeutics market in near future. Moreover, improving healthcare infrastructure in developing countries is anticipated to impel the growth of market during the forecast period.
Although, lack of awareness towards colorectal cancer in various undeveloped countries across the globe and reluctance in adoption of colorectal cancer medication in some regions are some of the factors that are likely to inhibit the growth of the colorectal cancer therapeutics market in the near future.
The report titled “Colorectal Cancer Therapeutics Market : Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global colorectal cancer therapeutics market in terms of market segmentation by treatment, by diagnostic, by stage and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global colorectal cancer therapeutics market which includes company profiling of Pfizer Inc., Bayer Healthcare Pharmaceuticals, Spectrum Pharmaceuticals Inc., Novartis AG, Amgen Inc., Merck KGaA, Invendo medical GmbH, F. Hoffmann-La Roche AG and AbbVie Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global colorectal cancer therapeutics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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