Growth Factors of Colorectal Cancer Therapeutics Market
The colorectal cancer therapeutics market size was valued at USD 9.26 billion in 2018, and the market is now projected tgrow from USD 26.49 billion by 2032, exhibiting a CAGR of 7.8% during the forecast period of 2019-2026.
An increase in awareness has brought the colorectal cancer therapeutics market growth at the global level and market players have been launching new products intthe market. However, most medications require a prescription and usually accompany other medications, hence increasing the demand for many separate drugs. Market players are launching high-value drugs tcater tvarious treatment requirements. Market growth is being driven by innovation and patient care features.
People are becoming more informed about the dangerous health effects associated with colorectal cancer, which is capable of spreading. New and more advanced forms of diagnostics are increasing the percentage of early diagnosis, which may increase the number of cases recorded worldwide. When these diseases are diagnosed early enough, treatment yields better results and higher chances of survival. A gradual increase in disease awareness and improvements in diagnostic reach are other beneficial market factors that propel the colorectal cancer therapeutics market share.
Comprehensive Analysis of Colorectal Cancer Therapeutics Market
The colorectal cancer therapeutics market and healthcare industry is rising at an exponential rate due tits market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the healthcare industry. These segmentations are methodically segregated by therapy, by cancer type and by distribution channel. The theraphy includes, Targeted Therapy, Immunotherapy, Chemotherapy and Others. The cancer type includes, Colorectal Adenocarcinoma, Gastrointestinal Carcinoid Tumors and Others. The distribution channel includes, Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies and Others.
North America generated USD 4.13 billion in 2018 for colorectal cancer medications and is expected tdominate the market. Cancer and new products support the industry. The Incidence of high cancers and the introduction of new products support the industry. More research and awareness add tthe market's growth even more. This modern diagnostic technique boosts the region’s extension. These issues make North America a strong market force for the U.S. twin the war even when faced with tough competition from its counterparts.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Genentech, Inc., Eli Lilly and Company, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Bristol Myers Squibb, Sanofi, Merck Sharp & Dohme Corp., TaihPharmaceutical (Otsuka Pharmaceutical Co., Ltd.), Bayer AG, Regeneron Pharmaceuticals, Inc., Novartis AG and Ipsen Biopharmaceuticals, Inc. These market players provide a level-playing competitive landscape.
In July 2020, TaihPharmaceutical Co., Ltd. started distributing its anticancer agent LONSURF tColorectal Cancer patients in China. The company assumed that Lonsurf would be a more valuable addition tthe patients and medical facilities, as a decision of the patient with colorectal cancer.
Segmentation Table
Global Colorectal Cancer Therapeutics Market Scope
Study Period 2015-2026
Base Year 2018
Forecast Period 2019-2026
Growth Rate CAGR of 7.8% from 2019 t2026
Historical Period 2015-2017
Unit Value (USD billion)
Segmentation By Therapy, Cancer Type, Distribution Channel and Geography
By Therapy
Targeted Therapy
Immunotherapy
Chemotherapy
Others
By Cancer Type
Colorectal Adenocarcinoma
Gastrointestinal Carcinoid Tumors
Others
By Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others
By Geography
North America (U.S. and Canada)
Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
Latin America (Brazil, Mexico, and the Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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