Colorectal Cancer Therapeutics Market to See 6.1% Annual Growth Through 2023

Industry Expansion Due to Increased Investments, Rising Awareness

April 19, 2019

WELLESLEY, Mass., April 19, 2019–Increased research and development investments, rising awareness, and the pending release of new targeted therapies all point to expansion of the colorectal cancer therapeutics market, according to a report by BCC Research.

The market expects to see a compound annual growth rate (CAGR) of 6.1% through 2023, when it could be worth $18.5 billion, according to the report “Colorectal Cancer Therapeutics: Global Markets.”

Major players in the market include Bristol Myers Squibb (BMY), Hoffmann La Roche (ROG), Eli Lilly and Co. (LLY), Amgen (AMGN), and Merck Sharp Dohme (MRK).

Research Highlights

• Targeted therapy leads market growth, with a CAGR through 2023 of 8.1%, followed by immunotherapy at 7.6% and chemotherapy at 5.8%.
• North America leads the chemotherapy market by size, with a 218 value of $4.8 billion, followed by Europe at $3.2 billion and the Asia-Pacific region at $2.2 billion.
• In Europe, targeted therapy leads the market by growth, with a CAGR through 2023 of 7.7%, followed by immunotherapy at 7.3% and chemotherapy at 6.0%.

“The global targeted therapy market, which reached an estimated $1.1 billion in 2018, is forecasted to reach $1.6 billion in 2023,” the report’s authors noted. “The market is undergoing several advances like the approval of new targeted therapies that have extended overall survival rates. Several drugs currently in clinical trials show potential as blockbusters, which should drive market growth.”

Market Restraints Include the Rise of Generics, High Screening Costs

Several factors are working to restrain market growth. Chief among them is the looming expiration of several drug patents and the likely release of cheap generics. Key products facing expiration include Avastin, Vectibix and Zaltrap. Meanwhile, the rising cots of screening associated with the drugs are placing financial burdens on some colorectal cancer patients and their families, with some being unable to afford treatment and others exhausting their financial resources. Both scenarios limit a patient’s treatment options for cancer.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Colorectal Cancer Therapeutics: Global Markets( PHM211A )
Publish Date: Mar 2019    

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