Cancer Therapies

Cancer Therapies

Global Cancer Therapies Market to Reach US$382.0 Billion by 2030

The global market for Cancer Therapies estimated at US$190.9 Billion in the year 2023, is expected to reach US$382.0 Billion by 2030, growing at a CAGR of 10.4% over the analysis period 2023-2030. Chemotherapy, one of the segments analyzed in the report, is expected to record a 8.9% CAGR and reach US$112.8 Billion by the end of the analysis period. Growth in the Targeted Therapy segment is estimated at 11.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$74.6 Billion While China is Forecast to Grow at 12.8% CAGR

The Cancer Therapies market in the U.S. is estimated at US$74.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$35.3 Billion by the year 2030 trailing a CAGR of 12.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.0% and 7.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR.

Global Cancer Therapies Market - Key Trends & Drivers Summarized

Cancer therapies have evolved significantly over the past few decades, leading to improved patient outcomes and survival rates. Cancer therapy refers to the treatment of a patient suffering from cancer with therapies such as chemotherapy, targeted therapy, radiation therapy and immunotherapy among others. These treatments target the removal or destruction of cancerous cells. Surgery involves physically removing tumors, while chemotherapy uses potent drugs to kill rapidly dividing cells, and radiation therapy employs high-energy radiation to damage DNA in cancer cells, preventing them from multiplying. Given the side effects associated with these treatments, there has been a continuous search for more targeted and less harmful treatment options.

Recent advancements in cancer therapies have introduced a new era of precision medicine, focusing on treatments that specifically target cancer cells while sparing healthy tissue. Immunotherapy, which leverages the body`s immune system to fight cancer, has shown remarkable success in treating various types of cancer. Checkpoint inhibitors, CAR-T cell therapy, and cancer vaccines are some of the innovative immunotherapy approaches that have gained approval in recent years. Additionally, targeted therapies that interfere with specific molecules involved in cancer growth and progression, such as tyrosine kinase inhibitors and monoclonal antibodies, have provided effective treatment options with fewer side effects compared to traditional methods. The advent of personalized medicine, where treatments are tailored based on the genetic profile of the patient’s tumor, has further enhanced the efficacy and safety of cancer therapies.

The growth in the cancer therapies market is driven by several factors. Advances in biotechnology and genomics have led to the development of novel therapies and personalized treatment approaches, significantly expanding the range of options available to patients. The increasing prevalence of cancer worldwide, partly due to aging populations and lifestyle factors, is fueling demand for effective treatments. Moreover, substantial investment in cancer research by pharmaceutical companies and government agencies is accelerating the discovery and development of new therapies. The rising awareness and early diagnosis of cancer are also contributing to market growth, as early-stage cancers are more treatable with modern therapies. Additionally, regulatory approvals of new and innovative treatments are providing more options for patients and clinicians. The expansion of healthcare infrastructure, particularly in emerging economies, is making advanced cancer therapies more accessible to a broader population. Collaborations and partnerships among biotech firms, research institutions, and healthcare providers are fostering innovation and facilitating the commercialization of cutting-edge cancer treatments.

Select Competitors (Total 109 Featured) -

• AbbVie Inc.
• Alaunos Therapeutics, Inc.
• Amgen Inc.
• Astellas Pharma Inc.
• AstraZeneca Plc
• Bayer AG
• Bristol-Myers Squibb Company
• Celldex Therapeutics, Inc.
• Eli Lilly and Company
• F. Hoffmann-La Roche Ltd.
• Gilead Sciences, Inc.
• Glaxosmithkline Plc
• Johnson & Johnson Services, Inc.
• Merck KGaA
• Novartis AG
• Pfizer Inc.
• Takeda Pharmaceutical Company Limited

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