Targeted Therapy Global Market Report 2023: Increasing Prevalence of Cancer Drives Growth

DUBLIN, May 15, 2023 /PRNewswire/ -- The "Targeted Therapy Global Market Report 2023" report has been added to  ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global targeted therapy market is expected to grow from $97.34 billion in 2022 to $106.79 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The targeted therapy market is expected to grow to $148.38 billion in 2027 at a CAGR of 8.5%.

Major players in the targeted therapy market are Amgen Inc., GlaxoSmithKline plc, Sanofi, Merck & Co., Inc., Pfizer Inc., F. Hoffmann-La Roche Ltd., AstraZeneca, Bristol Myers Squibb, Takeda Pharmaceutical Company Limited, Novartis AG, Seagen Inc., Bayer AG, Genentech, Inc., ChemGenex Pharmaceuticals Ltd., and Genmab A/S.

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Targeted therapy refers to a kind of cancer treatment that employs medications or other chemicals to attack particular molecules required for the survival and spread of cancer cells. It uses drugs to target specific genes and proteins that help cancer cells survive and grow.

The main types of targeted therapy are small molecule medicines and monoclonal antibodies. A small-molecule medicine drug refers to a synthetic chemical that was inspired by or derived from natural products produced by bacteria, fungi, and plants. It is provided through several distribution channels, such as hospital pharmacies, retail pharmacies, and online pharmacies, and are used for breast cancer, colorectal cancer, leukemia, lung cancer, lymphoma, renal cancer and others.

New product development are a key trend gaining popularity in the targeted therapy market. Major companies operating in the targeted therapy market are focused on developing new technological solutions to strengthen their position in the market.

For instance, in March 2022, Novartis AG, a Switzerland-based multinational pharmaceutical corporation, launched Pluvicto, which was approved by the US Food and Drug Administration (FDA). Pluvicto is the first FDA-approved targeted radioligand therapy (RLT) for eligible patients with mCRPC.

It combines a therapeutic radioisotope with a targeted chemical (a radioactive particle). It is a type of targeted cancer therapy in which a therapeutic radioisotope is combined with a targeting chemical. Pluvicto binds to target cells in the circulation, including prostate cancer cells that express the transmembrane protein PSMA. When bonded, the radioisotope's energy emissions injure the target cells as well as other cells in the region, inhibiting replication and/or leading to cell death.

In August 2022, Bristol Myers Squibb, a US-based biopharmaceutical company, acquired Turning Point Therapeutics for an undisclosed amount. With this acquisition of Turning Point Therapeutics, Bristol will be in a position to meet a critical medical need for patients with non-small cell lung cancer who test positive for ROS1.

Moreover, Bristol Myers Squibb has access to a pipeline of experimental drugs, including repotrectinib, that aim to combat the most prevalent mutations linked to oncogenesis. Turning Point Therapeutics, Inc. is a US-based clinical-stage precision oncology company operating in targeted therapy.

North America was the largest region in the targeted therapy market in 2022. The regions covered in the targeted therapyreport are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the targeted therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The increasing prevalence of cancer is expected to propel the growth of the targeted therapy market going forward. Cancer is a term for conditions where aberrant cells can infect surrounding tissues and divide uncontrollably. Targeted therapy can disable the signals that encourage the growth of cancer cells or signal the cancer cells to self-destruct. It employs medication to specifically target genes and proteins that support the growth and survival of cancer cells, thus increasing its demand.

For instance, according to the 2021 American Cancer Society report, 1.8 million new cases of cancer diagnosed were diagnosed in 2020. Furthermore, in September 2020, National Cancer Institute, a US-based government organisation that is a part of the National Institutes of Health, reported that 1,806,590 new cancer cases were registered, which indicated a 43% increase from 2019. Therefore, the increasing prevalence of cancer is driving the growth of the targeted therapy market.

The targeted therapy market includes revenues earned by entities by providing various kinds of cancer drugs, such as EGFR inhibitors, angiogenesis inhibitors, and apoptosis inducers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other productscts.

Key Topics Covered:

1. Executive Summary

2. Targeted Therapy Market Characteristics

3. Targeted Therapy Market Trends And Strategies

4. Targeted Therapy Market - Macro Economic Scenario
4.1. COVID-19 Impact On Targeted Therapy Market
4.2. Ukraine-Russia War Impact On Targeted Therapy Market
4.3. Impact Of High Inflation On Targeted Therapy Market

5. Targeted Therapy Market Size And Growth
5.1. Global Targeted Therapy Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Targeted Therapy Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Targeted Therapy Market Segmentation
6.1. Global Targeted Therapy Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Small Molecule Medicines
• Monoclonal Antibodies

6.2. Global Targeted Therapy Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

6.3. Global Targeted Therapy Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Breast Cancer
• Colorectal Cancer
• Leukemia
• Lung Cancer
• Lymphoma
• Renal Cancer
• Other Applications

7. Targeted Therapy Market Regional And Country Analysis
7.1. Global Targeted Therapy Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Targeted Therapy Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/zbju8n

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