Global Colorectal Cancer Drugs Market - 2023-2030
The Global Colorectal Cancer Drugs Market reached US$ 13.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 18.1 billion by 2030. The Global Colorectal Cancer Drugs Market is expected to exhibit a CAGR of 3.7% during the forecast period 2023-2030.
Colorectal cancer drugs encompass a range of therapeutic options for treating colorectal cancer, which affects the colon or rectum. These drugs inhibit tumor growth, prevent cancer cells from spreading, and improve patient outcomes. The major drug classes and specific medications used to treat colorectal cancer include chemotherapy, immunotherapy, and other combination drugs.
Furthermore, the identification of specific genetic mutations and molecular pathways implicated in colorectal cancer has led to the development of targeted therapies; researchers are exploring the benefits of combining different drugs to enhance treatment outcomes and the conduct of clinical trials allows for the evaluation of new medicines and treatment regimens are the factors expected to drive the colorectal cancer drugs over the forecast period.
Market Dynamics
The increasing clinical trial for colorectal cancer drugs is boosting the growth of the Global Colorectal Cancer Drug Market during the forecast period.
In September 2022, Pfizer, in collaboration with Merck KGaA, ONO Pharmaceutical, and Pierre Fabre, sponsored the BEACON CRC study. The study evaluated the effectiveness of encorafenib + cetuximab ± binimetinib regimens compared to standard of care in patients with previously treated metastatic colorectal cancer (mCRC) with a specific genetic mutation called BRAF V600E.
The randomized phase III BEACON study (NCT02928224) demonstrated that the encorafenib + cetuximab ± binimetinib regimens improved overall survival and objective response rate compared to the control group. This finding provided evidence for the efficacy of this combination therapy in treating BRAF V600E-mutant mCRC.
The ctDNA analysis demonstrated that reactivation of the MAPK pathway is a common resistance mechanism after inhibiting BRAF and EGFR, with or without MEK inhibition. Acquired mutations in the RAS-MEK signaling pathway were more frequently observed in patients treated with the doublet regimen (encorafenib + cetuximab), while enhanced receptor signaling was more prevalent in those receiving the triplet regimen (encorafenib + cetuximab + binimetinib).
The high costs of drugs for colorectal cancer are hampering the growth of the Global Colorectal Cancer Drugs Market in the forecast period.
According to the Centers for Disease Control and Prevention, the treatment expenses for colorectal cancer rank second highest among all types of cancer, comprising 12.6% of the total costs associated with cancer treatment.
Medical services accounted for $23.7 billion, while prescription drugs contributed $0.6 billion to these expenses. Furthermore, in terms of oral prescription drugs, the average costs per patient were found to be the greatest during the final year of life ($1,400), followed by the initial care phase ($400), and the continuing care phase (approximately $200). Thus, owing to the above factors, the market is expected to hamper over the forecast period.
COVID-19 Impact Analysis
The colorectal cancer drugs market has experienced significant disruptions due to the COVID-19 pandemic. Healthcare systems globally have been impacted, leading to delays in cancer screenings, diagnosis, and treatments. Clinical trials for colorectal cancer drugs were also affected, with many being postponed, delayed, or modified to ensure patient safety and comply with pandemic-related restrictions.
Consequently, the development and introduction of new drugs have been slowed down. Additionally, the economic impact of the pandemic has created financial constraints for healthcare systems and individuals, potentially influencing the affordability and accessibility of colorectal cancer drugs. These combined factors have notably impacted the dynamics of the colorectal cancer drugs market.
Russia-Ukraine Conflict Analysis
The ongoing conflict between Russia and Ukraine has significantly impacted the availability of colorectal cancer drugs in Ukraine. Before the conflict, Ukraine relied heavily on Russia to import pharmaceuticals, including cancer drugs. However, following the conflict and subsequent trade restrictions, access to these drugs became limited, leading to a shortage of critical medications, including those used to treat colorectal cancer.
As a result of this shortage, patients have been unable to access essential drugs, leading to treatment delays and the use of alternative, less effective drugs. Additionally, the cost of imported drugs increased, making them less affordable for patients and healthcare systems. The situation was further compounded by the devaluation of the Ukrainian currency, making purchasing drugs from other countries more challenging.
The impact of the Russia-Ukraine conflict on the colorectal cancer drugs market highlights the potential vulnerabilities of global pharmaceutical supply chains. It underscores the importance of diversifying the sources of drug supplies and developing local pharmaceutical industries to enhance self-sufficiency and reduce dependence on imported drugs.
Segment Analysis
The Global Colorectal Cancer Drugs Market is segmented based on type, therapy, end user, distribution channel, and region.
The vascular endothelial growth factor (VEGF) inhibitors segment is expected to dominate the market over the forecast period.
The vascular endothelial growth factor (VEGF) inhibitors segment accounted for the highest market stake, accounting for approximately 1/3rd of the colorectal cancer drugs market in 2022. Vascular endothelial growth factor (VEGF) inhibitors have several advantages in the treatment of colorectal cancer. It works by blocking the activity of VEGF, a protein that promotes the formation of new blood vessels (angiogenesis).
For instance, Bevacizumab (BEV), ramucirumab (RAM), and aflibercept (AFL), are widely used for metastatic colorectal cancer (mCRC) patients who are treated with second-line chemotherapy.
Additionally, VEGF inhibitors are often used in combination with chemotherapy in the treatment of colorectal cancer. Studies have shown that adding VEGF inhibitors to chemotherapy regimens improves treatment response rates and overall survival compared to chemotherapy alone. This combination therapy approach can lead to more effective tumor control and increased patient outcomes.
Geographical Analysis
The increasing acquisitions by the market players, the growing prevalence of colorectal cancer, and rising product launches by the market players dominate the North American region.
North America is expected to dominate the catheter stabilization devices market, accounting for around 1/3rd of this market, with the U.S. being the major contributor.
According to the recent Colorectal Cancer Statistics 2023 report by the American Cancer Society (ACS), there has been a notable shift in colorectal cancer trends in the United States. The report reveals that the proportion of individuals diagnosed with advanced-stage colorectal cancer (CRC) has increased from 52% in the mid-2000s to 60% in 2019.
Moreover, the diagnoses of individuals under the age of 55 have doubled from 11% in 1995 to 20% in 2019, indicating a concerning rise in colorectal cancer among younger age groups. Overall, the report estimates that in 2023, approximately 153,020 people in the United States will receive a diagnosis of colorectal cancer, and 52,550 individuals will succumb to the disease. These figures highlight the significant impact and continued threat posed by colorectal cancer.
Furthermore, on March 13, 2023, Pfizer Inc. and Seagen Inc. announced that they have entered into a definitive merger agreement under which Pfizer will acquire Seagen, a global biotechnology company that discovers, develops, and commercializes transformative cancer medicines, for $229 in cash per Seagen share for a total enterprise value of $43 billion.
Hence , the North American region is expected to hold the largest market share over the forecast period due to the above factors.
Competitive Landscape
The major global players in the market include Genentech, Inc., Eli Lilly, and Company, Pfizer, Abbott Laboratories, Sanofi S.A., Bristol-Myers Squibb, Amgen, Bristol-Myers Squib, Merck & Co., Inc., Teva Pharmaceuticals, Novartis, GlaxoSmithKline, Onyx among others.
Why Purchase the Report?
• To visualize the Global Colorectal Cancer Drugs Market segmentation based on the type, therapy, end user, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of colorectal cancer drugs market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The Global Colorectal Cancer Drugs Market Report Would Provide Approximately 69 Tables, 72 Figures And 195 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Type
- 3.2. Snippet by Therapy
- 3.3. Snippet by End User
- 3.4. Snippet by Distribution Channel
- 3.5. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The increasing clinical trial for colorectal cancer drugs
- 4.1.2. Restraints
- 4.1.2.1. The high costs of drugs for colorectal cancer
- 4.1.3. Opportunity
- 4.1.3.1. Growing focus on developing targeted therapies that specifically address the molecular characteristics
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's 5 Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Unmet Needs
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During the Pandemic
- 6.5. Manufacturers’ Strategic Initiatives
- 6.6. Conclusion
- 7. Russia-Ukraine War Analysis
- 8. By Type
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 8.1.2. Market Attractiveness Index, By Type
- 8.2. Vascular Endothelial Growth Factor (VEGF) Inhibitors*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Epidermal Growth Factor Receptor (EGFR) Inhibitors
- 8.4. Programmed Cell Death Protein 1/PD1 Ligand 1 (PD1/PDL1) Inhibitors
- 8.5. BRAF Or MEK Inhibitors
- 8.6. Tyrosine Kinase (TKI) Inhibitors
- 8.7. Immunomodulators
- 8.8. Others
- 9. By Therapy
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Therapy
- 9.1.2. Market Attractiveness Index, By Therapy
- 9.2. Immunotherapy*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Targeted therapy
- 9.4. Chemotherapy
- 9.5. Others
- 10. By End User
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 10.1.2. Market Attractiveness Index, By End User
- 10.2. Hospital*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Specialty Clinics
- 10.4. Research Institute
- 10.5. Others
- 11. By Distribution Channel
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 11.1.2. Market Attractiveness Index, By Distribution Channel
- 11.2. Hospital Pharmacies*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. Retail Pharmacies
- 11.4. Online Pharmacies
- 12. By Region
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.1.2. Market Attractiveness Index, By Region
- 12.2. North America
- 12.2.1. Introduction
- 12.2.2. Key Region-Specific Dynamics
- 12.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Therapy
- 12.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.2.7.1. The U.S.
- 12.2.7.2. Canada
- 12.2.7.3. Mexico
- 12.3. Europe
- 12.3.1. Introduction
- 12.3.2. Key Region-Specific Dynamics
- 12.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Therapy
- 12.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.3.7.1. Germany
- 12.3.7.2. The U.K.
- 12.3.7.3. France
- 12.3.7.4. Italy
- 12.3.7.5. Spain
- 12.3.7.6. Rest of Europe
- 12.4. South America
- 12.4.1. Introduction
- 12.4.2. Key Region-Specific Dynamics
- 12.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Therapy
- 12.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.7.1. Brazil
- 12.4.7.2. Argentina
- 12.4.7.3. Rest of South America
- 12.5. Asia-Pacific
- 12.5.1. Introduction
- 12.5.2. Key Region-Specific Dynamics
- 12.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Therapy
- 12.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.7.1. China
- 12.5.7.2. India
- 12.5.7.3. Japan
- 12.5.7.4. Australia
- 12.5.7.5. Rest of Asia-Pacific
- 12.6. Middle East and Africa
- 12.6.1. Introduction
- 12.6.2. Key Region-Specific Dynamics
- 12.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Therapy
- 12.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 13. Competitive Landscape
- 13.1. Competitive Scenario
- 13.2. Product Benchmarking
- 13.3. Company Share Analysis
- 13.4. Key Developments and Strategies
- 14. Company Profiles
- 14.1. Genentech, Inc.*
- 14.1.1. Company Overview
- 14.1.2. Product Portfolio and Description
- 14.1.3. Financial Overview
- 14.1.4. Key Developments
- 14.2. Eli Lilly and Company
- 14.3. Pfizer
- 14.4. Sanofi S.A.
- 14.5. Bristol-Myers Squibb
- 14.6. Amgen
- 14.7. Merck & Co., Inc.
- 14.8. Teva Pharmaceuticals
- 14.9. Novartis
- 14.10. GlaxoSmithKline
- LIST NOT EXHAUSTIVE
- 15. Appendix
- 15.1. About Us and Services
- 15.2. Contact Us
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