Global Targeted Therapy Market - 2024-2031

Global Targeted Therapy Market - 2024-2031

The global targeted therapy market reached US$YY million in 2023 and is expected to reach US$YY million by 2031, growing at a CAGR ofYY% during the forecast period 2024-2031.

Targeted therapy is a form of cancer treatment that involves targeting specific molecules indigenous to cancerous cells, but not present in human cells. Targeted therapy precisely targets specific proteins that are essential for the growth and replication of tumor cells, unlike chemotherapy which kills the actively growing cells.

Target therapy does so by marking the tumor cells directing the body’s immune system to those cells and stopping the signals that cause the cells to grow without order. Targeted treatments have emerged as a viable strategy for treating a variety of malignancies like leukemia, lymphoma, glioblastoma, breast cancer, GI cancer, lung cancer, etc.

Market Dynamics: Drivers

Rising product development and pipeline drugs

In the modern era of cancer medicine, targeted therapies have emerged as a promising option for cancer treatment. Deviating from the traditional approaches of cancer treatment such as chemotherapy and radiotherapy, targeted therapies specifically target the tumor cells without causing any effect on the normal human cell. Nowadays cancer research is more focused on targeted therapies, with major pharmaceutical companies investing in developing them with the efforts to revolutionize cancer therapeutics.

According to the American Association for Cancer Research, nearly 43% of the 198 oncology drugs approved by the FDA in the past 20 years are targeted therapies only. Many targeted therapies have been approved by regulatory agencies such as the FDA and EU Commission for use in different forms of cancer, especially the ones that are irresponsive to chemotherapy. And many are still under several phases of clinical trials which are anticipated to enter the market in the upcoming future. With the rise in product approvals and the rising number of pipeline products, the market is expected to attain lucrative growth in the forecast period of 2024 to 2031.

For instance, on March 23, 2022, the approved “Pulvicto” a targeted therapy developed by Novartis AG for the treatment of PSMA-positive metastatic castration-resistant prostate cancer. Pulvicto is the first of its kind radiolabeled ligand therapy for mCRPC patients in whom no specific alternative is available.

On February 20, 2024, according to an article published in the National Center for Biotechnology Information, in China, a total of 87 novel therapies were approved for commercial use in 2023, among which 59 were targeted therapies accounting for 68% share of the total approved drugs. Out of these newly approved targeted therapies, the majority of them are small molecules and proteins. There are several other clinical trials under process in China, which are anticipated to be launched in the upcoming years.

On July 20, 2023, the U.S. Food and Drug Administration approved VANFLYTA which selectively targets FLT3-ITD in adult patients with newly diagnosed acute myeloid leukemia (AML). The drug developed by Daiichi Sankyo is available for commercial sale in the U.S.

Moreover, the rising prevalence of cancer, advancements in precision and molecular medicine, and rising indications of targeted therapies are the factors driving the growth of the global targeted therapy market.

Restraints

Factors such as the high cost of treatment, the development of resistance by cancerous cells to targeted therapy, and side effects associated with the targeted therapy are expected to restrain the market growth.

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Segment Analysis

The global targeted therapy market is segmented based on type, indication, route of administration, end user and region.

The monoclonal antibodies in the indication segment accounted for approximately 58.29% of the global targeted therapy market share

Among the targeted therapies that have been discovered and approved till now, small molecules and monoclonal antibodies have shown to be promising molecules, especially small molecules are gaining higher importance these days. Nonetheless, among the targeted therapies for cancer treatment, monoclonal antibodies are the top-selling drugs and have a major market share.

For instance, breast cancer is one of the major indications of targeted therapy and highly prevalent cancer for which many monoclonal antibodies have been approved and are classified under targeted therapy. Comparitively with the other treatment options, these targeted monoclonal antibodies have revolutionized breast cancer therapeutics. As per DataM analysis, the popular monoclonal antibodies with the highest sales value are Trastuzumab (Herceptin), Pertuzumab (Perjeta), Ado-trastuzumab emtansine (Kadcyla), and Trastuzumab deruxtecan (Enhertu) all used for breast cancer have generated a combined sales of $12.62 billion in 2023.

There are several other monoclonal antibodies used in targeted therapy that have revolutionized cancer treatment and are among the world top top-selling drugs. For example, Avastin which is recently approved for mCRPC and also used for age-related macular degeneration has generated sales of $1.8 billion in 2023, and Erbitux (Cetuximab) used for colorectal cancer has generated $0.6 billion sales in 2023.

Geographical Analysis

North America is expected to dominate the market with a 42.15% share in the global targeted therapy market

North America is expected to dominate the market due to its well-equipped healthcare facilities and cancer treatment centers. Moreover, research activities related to cancer are higher in the region due to favorable funding and high investments, which help manufacturers develop and launch novel therapies. In addition, the favorable reimbursement scenario in the region makes the highly expensive drugs available at affordable prices to the patients making it accessible to the needful. Also, due to stringent regulatory guidelines for product approval, the launch of target therapies in the U.S. initially will provide a positive nod for universal acceptance, hence majority of the product innovators focus on launching their product initially in this region.

The manufacturers of targeted therapies generate the majority of the revenue from the region which is a strong contributing factor for the region’s highest market share.

For instance, in North America, Roche, a major market player in developing targeted therapy has generated 35% of the sales for Avastin and 38% of the sales for breast cancer targeted therapy drugs Herceptin, perjeta, and Kadcyla in 2023. Pfizer another leading player has generated almost 70% of the revenue in 2023 from North America for its targeted therapy drug Ibrance which is used for the treatment of breast cancer. Novartis AG which has launched a new targeted therapy Pluvicto in 2023, has generated approximately 94% of the revenue from the U.S. out of a total of $980 million in sales.

COVID-19 Impact Analysis

The COVID-19 pandemic has significantly impacted the global market for targeted therapy. Due to imposed restrictions on movement, lack of healthcare resources, and disruption in the supply chain the research activities related to oncology have experienced a halt, especially the clinical trials. Many clinical trials were paused during the pandemic causing delays in the drug development and approval process. Moreover, the healthcare settings where clinical trials take place were allocated to COVID-19-infected patients and set up a triage area for providing necessary care.

For instance, on November 25, 2021, an article published in the National Center for Biotechnology Information stated that during the peak pandemic period in March and April 2020, cancer patient referrals to healthcare facility have fallen by 60% and the new oncology clinical trials have reduced by 60% in march 2021.

Market Segmentation

By Type
• Monoclonal Antibodies
• Small Molecules
• Others

By Indication
• Leukemia
• Breast Cancer
• Lung Cancer
• GI Cancers
• Melanoma
• Others

By Route of Administration
• Oral
• Parenteral

By End Users
• Hospitals & Clinics
• Specialty Centers
• Academia and Research Institutes
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major players in the targeted therapy market include Daiichi Sankyo, Inc., F. Hoffmann-La Roche Ltd, Novartis AG, Pfizer Inc., AstraZeneca., Eisai Inc., Puma Biotechnology, Inc., Bristol-Myers Squibb Company., Bayer, and Eli Lilly and Company among others.

Why Purchase the Report?
• To visualize the global targeted therapy market segmentation based on type, indication, route of administration, end-user, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of targeted therapy 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 targeted therapy market report would provide approximately 70 tables, 65 figures, and 187 Pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies