Latest News - Colorectal Cancer Therapeutics Market: Targeted therapy is expected to lead the Type segment during 2024-2028

The Colorectal Cancer Therapeutics Market is being driven by Increasing geriatric population

The Colorectal Cancer Therapeutics Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2001.8 million. In the global colorectal cancer therapeutics market, biologics currently hold a significant market share. However, the complex development processes, high costs, and potential side effects associated with these treatments are limiting their adoption. In response, pharmaceutical companies are prioritizing the creation of safe, affordable, and conveniently administered small molecule drugs. The majority of these small molecules target protein kinases, which catalyze phosphorylation and regulate various cellular processes. Deregulation of protein kinases under pathological conditions can lead to uncontrolled cell division, inhibition of apoptosis, and other abnormalities, ultimately contributing to the development of colorectal cancer. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Targeted therapy
  • Immunotherapy
  • Chemotherapy
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing geriatric population
• Rising occurrence of colorectal cancer
• Introduction of combination therapeutics

However, the market also witnesses some limitations, which are as follows:

• Patent expiration of novel therapeutics
• Availability of alternative therapies
• Side effects associated with available medicines

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Market Scope in Colorectal Cancer Therapeutics Market Research Report

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Research Analysis Overview

Colorectal cancer is a significant health concern worldwide, with incident cases and diagnosis rates on the rise, particularly in the aging population. Companies like Genentech and MSD are leading the charge in colorectal cancer therapeutics with their innovative offerings. Genentech's Tecentriq and MSD's Keytruda are revolutionizing oncology with their immunotherapies, targeting specific proteins like tyrosine kinase. However, the patent expiries of key drugs like Avastin, Erbitux, and Stivarga, which are used in chemotherapy, targeted therapy, and immunotherapy, may impact market dynamics. Oncology Analyst Thomas Wales predicts an increasing trend towards online, retail, and hospital pharmacies as patients seek greater convenience and affordability. YoungOnset Colorectal Cancer and gastrointestinal carcinoid are emerging areas of focus, with institutions like Dana-Farber leading research efforts. KRAS mutation testing is also gaining importance in personalized treatment plans. As the colorectal cancer landscape evolves, the role of targeted therapies in managing colorectal adenocarcinoma and colorectal cancer remains a critical area of investigation.

Market Research Overview

The global pharmaceuticals market, encompassing entities involved in the research and development (R&D) or production of various drug categories, including generics, non-generics, and veterinary drugs, is a significant sector within the broader healthcare industry. According to Technavio's market analysis, the healthcare market size is determined by the consolidated revenue generated by manufacturers and providers of medical equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Factors driving the growth of the pharmaceuticals market include the increasing global population aging, with the proportion of individuals over 60 years old projected to reach approximately 25% in the US by 2050 and similar ratios in Europe by 2030. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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