Cancer is a one of the leading cause of death in America and across the globe. The only successful treatment available is chemotherapy. However, chemotherapy drugs available in the targeted cancer drugs market are unable to differentiate between cancerous and noncancerous cells such as intestinal epithelium. However, extensive research has given rise to a new approach to treating the disease, known as targeted cancer therapy. Targeted cancer therapy uses pharmacological agents that inhibit growth, increase cell death, and restrict the spread of cancer; however, it targets specific type of proteins that helps in tumorigenesis. Targeted cancer drugs are therapeutically useful for breast cancer, leukemia, lung cancer, colorectal cancer, and lymphoma. Moreover, new technological development and recent medical advancements have made it possible to analyze the type of cancer and provide customized treatments to the patient.
The global targeted cancer drug market can be segmented based on drug type, distribution channel, and region. In terms of drug type, the targeted cancer drugs market can be divided into monoclonal antibodies, small-molecules, and immunotoxins. Monoclonal antibodies include drugs such as Bevacizumab (humanized monoclonal antibody with a circulatory system target (VEGF-A), Cetuximab (chimeric monoclonal antibody with a tumor target (EGFR)) and Ipilimumab (fully human antibody with an immune system target (CTLA-4)). Small molecules include Bortezomib (small molecule proteasome inhibitor), Imatinib (small molecule tyrosine kinase inhibitor) and Seliciclib (small molecule cyclin-dependent kinase inhibitor). In terms of the distribution channel, market is divided into drug stores, retail pharmacies, hospital pharmacy, and online sales.
Rise in the number of newly diagnosed patients, rigorous research & development activities, adverse side effects of conventional chemotherapy, and a rise in public awareness toward chronic illness are major factor driving the growth of targeted cancer drug market. Additionally, favorable reimbursement policies available in developed countries can boost the targeted cancer drugs market growth. However, high cost of the treatment, little to no reimbursement in developing economies, unavailability of the treatment in Asian countries such as India, and a shortage of skilled professionals are some factors restraining the growth of the targeted cancer drugs market. Opportunities available in order to make the treatment more convenient for the patients and to dominate targeted cancer drugs market includes the introduction of robotics and automation for surgeries, more emphasis towards painless treatment and increasing population of smokers and drug addicts. In 2015, the National Cancer Institute stated that nearly 221,200 Americans were diagnosed with lung cancer, and around 158,040 succumbed to the disease. Metastatic non-small cell lung cancer (NSCLC) is the most common type of lung cancer, which occur due to a mutation in EFGR gene. Recent FDA approval of the Pfizer’s CD22-targeted cancer drug Besponsa (inotuzumab ozogamicin) in August, 2017, for the treatment of adults with relapsed or refractory B-cell precursor acute lymphoblastic leukemia, and for considering targeted therapy as a first-line treatment for patients with a type of metastatic lung cancer in July 2015, can strengthen the growth of the targeted cancer drug market.
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Geographically, the global targeted cancer drug market is divided into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America dominates the global targeted cancer drugs market accounting for the largest targeted cancer drugs market share due to increasing incidence of cancer. Increased demand of targeted therapies has been observed in developed countries in Europe such as Germany and France. Recent approvals for Afinitor and Jevtana drugs in Japan and increasing demand for targeted cancer drugs from countries such as China, are expected to boost the Asia Pacific targeted cancer drugs market. Middle East is expected to show moderate growth for targeted cancer drugs market over the coming years. However, affordability and lack of technology can restrain the growth of targeted cancer drugs market in the underdeveloped regions of Africa and Latin America. Despite these reasons the targeted cancer drugs market in these regions is expected to witness slow growth owing to the contribution from developing countries such as Brazil and South Africa.
F.Hoffmann-La Roche, Novartis, and Pfizer are the top three players in the targeted cancer drugs market. Other players include Bayer, GlaxoSmithKline, Sanofi, Amgen, Merck, and Bristol-Myers Squibb.
The report offers a comprehensive evaluation of the targeted cancer drugs market. It does so via in-depth qualitative insights, historical data, and verifiable projections about targeted cancer drugs market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the targeted cancer drugs market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on: Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis
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The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and targeted cancer drugs market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent targeted cancer drugs market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report: A complete backdrop analysis, which includes an assessment of the parent market Important changes in market dynamics Market segmentation up to the second or third level Historical, current, and projected size of the market from the standpoint of both value and volume Reporting and evaluation of recent industry developments Market shares and strategies of key players Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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