Targeted Cancer Therapies Market
Targeted cancer therapies refer to specialized forms of therapy that are based on the individual characteristics of cancer patients. These include: hereditary factors, family medical history, geographical location, age at diagnosis, sex, and overall health. Targeted therapy may also be used after surgery to target residual cancer cells in patients who have had cancer surgery, radiation therapy, chemo therapy, or a combination of these treatments. This form of therapy has been proven to be highly effective in treating many types of cancers. During targeted cancer therapies, cancer cells are either eliminated or converted into less cancerous cells. Alternatively, targeted cancer treatments may attempt to destroy cancer cells without killing normal cells nearby them. Some targeted therapies use radiation or chemo therapy to kill cancer cells, while other therapies use drugs to attempt to regulate the immune system or encourage the body to fight cancer.
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Increasing incidences of cancers such as breast cancer, lung cancer, colorectal cancer, gastrointestinal cancer and among others is driving growth of the targeted cancer therapies market. For instance, according to the American Cancer Society reports nearly 1.7 million new cancer cases are expected to be diagnosed in 2019 in the U.S. Similarly, according to the National Cancer Institute, in 2018, around 1,735,350 new cases of cancer were diagnosed in U.S. and 609,640 people died from the disease.
Moreover, growing funding on cancer research, rising insurance coverage and rise in number of new targeted anti-cancer drugs is again expected to supports the growth of targeted cancer therapies market. National Cancer Institute, in 2017, spent around US$ 147.3 on cancer care which include lung cancer, colorectal cancer, liver cancer, breast cancer, leukemia, ovarian cancer, uterine cancer, and cervical cancer. On the other hand, high cost of the targeted therapies is projected to hamper the growth of targeted cancer therapies market.
Targeted Cancer Therapies Market Taxonomy:
On the basis of type, the global targeted cancer therapies market is segmented into:
- Monoclonal antibodies
- Immunotherapy
- Antibody-Drug Conjugate (ADC)
- Others
On the basis of application, the global targeted cancer therapies market is segmented into:
- Breast cancer
- Colorectal cancer
- Lung cancer
- Melanoma
- Gastrointestinal
- Others (Leukemia, Lymphoma, Prostate cancer)
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High cost of therapy is restricting growth of targeted cancer therapies market
The cost of targeted therapy drugs are very expensive, more than US$ 14,000 per patient in the initial stage of treatment. For instance, According to the study published in the Journal of Clinical Oncology, in 2017, the drugs used in targeted therapy treatment are expensive and the total treatment by drug is approximately US$5,000 to US$10,000 monthly which totals over US$100,000 annually. According to the American Institute of Cancer Research (AICR), in U.S., cancer treatment costs more than any other disease, accounted for around US$ 895 billion a year and is expected to hinder the growth of the market during the forecast period.
However, there are various insurance companies that cover the targeted therapy drugs mostly taken orally according to the prescription. But, drugs that are given intravenously are covered in a different way by insurance plans, wherein patient end up paying more money. According to report published Pharmaceutical Research and Manufacturers of America, in 2019, cancer medicines costs approximately 20% of total cancer treatment. Thus, increasing cost of targeted oral anticancer medicines is a major factor in rising overall cost of targeted cancer therapies.
Key Players in the Global Targeted Cancer Therapies Market
Some of the key players operating in the targeted cancer therapies market include Abbott Laboratories, Bayer AG, Boehringer Ingelheim GmbH, GlaxoSmithKline plc, AstraZeneca PLC, OncoGenex Pharmaceuticals Inc., Pfizer, Inc., AVEO Pharmaceuticals Inc., and CYTOKINETICS INC.
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Table of Contents:
- Research Objective and assumption
o Research Objectives
o Assumptions
o Abbreviations - Market Overview
o Report Description
• Market Definition and Scope
o Executive Summary
• Market Snippet By Product Type
• Market Snippet By Application
• Market Snippet By Technology
• Market Snippet By End User
• Market Snippet By Region
o Coherent Opportunity Map (COM) - Market Dynamics, Regulations, and Trends Analysis
o Market Dynamics
• Drivers
• Restraints
• Market Opportunities
o Technological Trends
o PEST Analysis
o Impact Analysis - Global Targeted Cancer Therapies Market, By Product Type, 2021 – 2028 (US$ Million)
o Introduction
• Market Share Analysis, 2016 and 2028 (%)
• Y-o-Y Growth Analysis, 2021 – 2028
• Segment Trends
o Reagents & Consumables
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Software’s
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Instruments
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million) - Global Targeted Cancer Therapies Market, By Application, 2021 – 2028 (US$ Million)
o Introduction
• Market Share Analysis, 2016 and 2028 (%)
• Y-o-Y Growth Analysis, 2021 – 2028
• Segment Trends
o Genomics
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Proteomics
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Diagnostics
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Drug Discovery
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million) - Global Targeted Cancer Therapies Market, By Technology, 2021 – 2028 (US$ Million)
o Introduction
• Market Share Analysis, 2016 and 2028 (%)
• Y-o-Y Growth Analysis, 2021 – 2028
• Segment Trends
o Microarrays
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Microfluidics
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million) - Global Targeted Cancer Therapies Market, By End User, 2021 – 2028 (US$ Million)
o Introduction
• Market Share Analysis, 2016 and 2028 (%)
• Y-o-Y Growth Analysis, 2021 – 2028
• Segment Trends
o Hospitals
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Diagnostic Labs
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Academic & Research Institutes
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Biotechnology & Pharmaceutical Companies
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
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