Global Targeted Cancer Drugs Market – Industry Trends and Forecast to 2029

Targeted Cancer Drugs Market Analysis and Size

The global targeted cancer drugs market is expected to witness significant growth during the forecast period. Cancer patients may be treated with hormonal therapy, immunotherapy, chemotherapy, and targeted therapy. Biopharmaceuticals made from monoclonal antibodies (mAbs), also known as biological drugs, have occurred as a promising treatment for numerous cancer types. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the global targeted cancer drugs market in the forecast period 2022-2029. The expected CAGR of global targeted cancer drugs market is tend to be around 2.50% in the mentioned forecast period. The market was valued at USD 68 billion in 2021, and it would grow upto USD 82.85 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Targeted Cancer Drugs Market Scope and Segmentation

Market Definition

Targeted cancer drugs are the kind of cancer treatment that work by targeting cancerous cells without affecting the healthy cells. The targeted drug therapy such as monoclonal antibodies exert their action by either hindering cancer growth or increasing cell death. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period.

Global Targeted Cancer Drugs Market Dynamics

Drivers

• Increase in Cancer Cases

The rise in cancer cases globally boosts the global targeted cancer drugs market in the forecast period As per the reports of the American Cancer Society Statistics in 2016, majority of cases of cancer mostly occur in individuals between the age group of 60-80 years with an estimated global death rate being 30,000 per year. In addition to this, as per the reports of WHO, lung cancer is the second most dominant cancer in men and women causing 1.59 million deaths in 2012. This boost the market growth.

• Rising Demand for Oral Drugs

Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global targeted cancer drugs market as most products are available in capsule and tablet form and it is a very feasible route of administration.

Opportunities

• Increased Drug Development

Numerous regions have emerged as cancer research, drug development, and medical testing hubs. This has been significantly enhancing the global targeted cancer drugs market for the last few years. Additionally, the efforts of the World Health Organization (WHO) in promoting cancer research and drug development have also played a part in driving the market.

• Advanced Technologies Associated with the Disease

Recent developments in gene therapy and cellular technology are mainly responsible for improving the understanding of tumor cells and their metabolism at the molecular level. This factor would boost the need for targeted drugs for cancer treatment. In the meantime, the demand for immunotherapy drugs would describe fastest growth across the global market over the foreseeable time frame. This creates more opportunity in the market.

Restraints/Challenges

• Lack of Skilled Professionals

Lack of trained professionals who are not aware of the knowledge of the appropriate treatment methods for this disease could restraint the growth of the global targeted cancer drugs market over a forecast period.

• High Cost

The huge expenditure of the treatment methods such as immunotherapy, chemotherapy, medications are surely hamper the market growth.

This global targeted cancer drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global targeted cancer drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Targeted Cancer Drugs Market

The COVID-19 outbreak has had a significant negative impact on the targeted cancer drug industry, as supply chains have been disturbed as a result of trade restrictions on pharmaceutical ingredients and products in several countries. Additionally, COVID-19 has distorted clinical trials and drug supply chains, which led to major disruptions in the targeted cancer drug industry. COVID-19's involvement with the research & development of new advanced therapies has been a significant challenge to the cancer drug industry.

Global Targeted Cancer Drugs Market Scope

The global targeted cancer drugs market is segmented on the basis of type, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Indication

• Lung Cancer
• Stomach Cancer
• Colorectal Cancer
• Breast Cancer
• Prostate Cancer
• Liver Cancer
• Esophagus Cancer
• Cervical Cancer

Type

• Monoclonal Antibodies
• Rituximab
• Small-Molecules
• Sugars
• Lipids
• Amino Acids
• Immunotoxins
• Diphtheria toxin (DT)
• Pseudomonas exotoxin
• Others

Route of Administration

• Oral
• Parenteral
• Others

End-Users

• Hospitals
• Homecare
• Speciality Centres
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Targeted Cancer Drugs Market Regional Analysis/Insights

The global targeted cancer drugs market is analysed and market size insights and trends are provided by type, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the global targeted cancer drugs market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to have the highest market growth due to the increase prevalence of cancer, high demand of targeted therapies and advanced healthcare facilities.

Asia-Pacific dominates the market due to the increasing cases of cardiovascular diseases and rapidly aging population.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Targeted Cancer Drugs Market Share Analysis

The global targeted cancer drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global targeted cancer drugs market.

Key players operating in the global targeted cancer drugs market include:

• Johnson & Johnson Private Limited (U.S.)
• Cipla Inc. (U.S.)
• Abbott (U.S.)
• AbbVie Inc. (U.S.)
• Sun Pharmaceutical Industries Ltd. (India)
• Aurobindo Pharma (India)
• Lupin (India)
• Hikma Pharmaceuticals PLC (U.K.)
• Amneal Pharmaceuticals LLC. (U.S.)
• Pfizer Inc (U.S.)
• Mylan N.V. (U.S.)
• Novartis AG (Switzerland.)
• Bristol-Myers Squibb Company (U.S.)
• GSK plc. (U.K.)
• Bayer AG (Germany)

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