Colorectal Cancer Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Colorectal Cancer Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The colorectal cancer therapeutics market is projected to register a CAGR of 6.1% during the forecast period (2022-2027).

Cancer care and maintaining high standards of diagnosis and treatment are top priorities for national health authorities and international health systems around the world. However, the pandemic has shifted that focus away from oncology services. Colorectal cancer patients are particularly vulnerable to disruptions in their care, as endoscopy diagnostics have been stopped due to concerns about viral transmission. Thus, due to the delay in diagnosis COVID-19 had an impact on the colorectal cancer therapeutics market. Various studies have been published on the impact of COVID. For example, a research study published in November 2021 titled "Impact of the COVID-19 pandemic on the diagnosis and treatment of colorectal cancer: a systematic review" stated that the reduction in the diagnosis and treatment of colorectal cancer due to the COVID-19 pandemic, offsetting the reduction and preventing the continuation of this downward trend, it requires serious and effective interventions to prevent its subsequent consequences, including referral of people with advanced stages and urgent conditions, increased treatment costs and reduced quality of life and patient survival. However, the market is likely to grow in the coming future.

The rise in the prevalence of colorectal cancer is one of the key factors driving the growth of the market. According to statistics published by GLOBOCAN, colorectal cancer (CRC) is the fourth most common cause of cancer in the German population, and approximately 57,528 new cases of CRC are reported in Germany in 2020. Additionally, according to statistics provided by GLOBOCAN 2020, approximately 33,815 new cases of colon cancer and 11,951 new deaths are reported in the United Kingdom in 2020. Government initiatives have emerged in the UK to diagnose CRC cases in the population aged 50 and over, as this group has a higher incidence. More than 2,000 lives a year can be saved in the United Kingdom with the right diagnosis. In addition, according to statistics provided by GLOBOCAN, there are approximately 306,078 new cases of colon cancer reported in China for the year 2020. It also reported that the five-year prevalence of colon cancer in China is around 749,096. Product launches are another factor in the growth of the market. For example, in July 2020, Taiho Pharmaceutical Co., Ltd. launched its anticancer drug LONSURF (brand in Japan, trifluridine/tipiracil (FTD/TPI), development code TAS-102) for the treatment of patients with metastatic colorectal cancer (mCRC). Lonsurf was approved in China in August 2019 based on the results of the phase III TERRA study in patients with refractory mCRC in Asia (China, South Korea, and Thailand). Such approvals are expected to boost market growth.

However, high costs and the side effects associated with drugs are likely to hinder the market growth.

Key Market TrendsChemotherapy is Expected to Hold a Significant Market Share Over the Forecast Period

Chemotherapy is one of the main methods of cancer treatment that uses drugs to kill colorectal cancer cells by preventing them from growing and dividing. Chemotherapy can shrink and prevent the growth of colorectal tumors. However, chemotherapy can also damage some healthy cells and may lead to major side effects.

Product approval is a key factor for market growth. For example, in June 2021, Bristol Myers Squibb announced that the European Commission (EC) approved Opdivo (nivolumab) plus Yervoy (ipilimumab) for the treatment of adult patients with mismatch repair-deficient (dMMR) or microsatellite-high instability (MSI-H) metastatic colorectal cancer (mCRC) after prior fluoropyrimidine-based combination chemotherapy. The EC's decision is based on the results of the Phase II CheckMate -142 study, in which Opdivo plus Yervoy demonstrated a clinically significant improvement in the objective response rate (ORR) in patients with MSI-H/dMMR mCRC who received prior treatment with fluoropyridine, oxaliplatin, and irinotecan. The safety profile of Opdivo plus Yervoy was consistent with previous studies of the combination in other tumor types.

Similarly, in June 2020, the Food and Drug Administration granted accelerated approval to pembrolizumab (KEYTRUDA, Merck & Co., Inc.) for the treatment of adult and pediatric patients with unresectable or metastatic tumors with a high mutational burden of solid tumors. Such approval increases the market growth by providing more advanced drugs in the market.

North America is Expected to Dominate the Colorectal Cancer Therapeutics Market

North America accounts for the largest share of the surveyed market owing to the increasing incidence of colorectal cancer in the United States along with several initiatives. For example, according to the American Cancer Society, colorectal cancer is one of the most common cancers diagnosed in both men and women in the United States, and it is estimated that approximately 104,270 new cases of colon cancer and 45,230 new cases of rectal cancer will be diagnosed. reported in the United States for 2021. Similarly in the United States, colorectal cancer (CRC) continues to be the leading cause of cancer-related death and premature cancer-related death in Canada. According to Canada.ca (Government of Canada) data updated in December 2020, about 26,300 Canadians (14,600 men and 11,700 women) were diagnosed with colorectal cancer in 2019 and 9,500 (5,200 men and 4,400 women) Canadians died from the disease. Colorectal cancer is the third most common cancer in Canada. According to the Canadian government, 93% of cases occur in adults over the age of 50, and it was reported that in 2020, about 26,900 Canadians were diagnosed with colorectal cancer. This gradual increase in the incidence rate in the Canadian population is concerning and needs to be addressed. This has led to an increase in the demand for colorectal cancer treatments in North America.

Key product launches, high concentration of market players or manufacturer presence, and acquisitions and partnerships among major players in the United States are some of the factors driving the growth of the colorectal cancer therapeutics market in the country. For example, in April 2020, Pfizer Inc. PFE announced that the FDA approved its cancer drug Brafta (encorafenib) in combination with Eli Lilly's LLY EGFR antagonist, Erbitux (cetuximab), for the treatment of patients with BRAFV600E-mutated metastatic colorectal cancer. after previous therapy. Such approvals enhance market growth by providing better care to patients.

Hence, due to the abovementioned factors, the market is likely to grow over the forecast period.

Competitive Landscape

The market is partially fragmented and consists of several major players. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known including Amgen Inc, Bayer AG, Bristol-Myers Squibb Company, Pfizer Inc., and F. Hoffmann-La Roche Ltd among others.

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