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Cancer Cells Restrict Necessary Cell Division

Targeted therapeutics is a type of cancer treatment that uses drugs to precisely 'target' cancer cells without affecting normal cells. Although targeted therapy is an effective treatment, many individuals prefer to use it in combination with other therapies such as traditional or standard chemotherapy, surgery, or radiation therapy. Developments in research for DNA changes and proteins that drive cancer are proving effective to design promising treatments that target such proteins. For different types of cancers come different types of drugs that individually target distinct cancer. However, tumors are tested to check the target, and provide therapy if the drugs are available. As traditional chemotherapy can damage normal cells while killing cancer cells, the targeted therapeutics market is expected to witness growth during the forecast period.

Targeted therapy varies in types with the primary objective to help treat cancer by intervening with particular proteins that help tumors develop and circulate throughout the body. The human body functions with the immune system constantly working to find the problems and fight. However, cancer cells can hide from the immune system making it difficult to kill. Specific targeted therapy can mark the cancer cells to make it easier for the immune system to target and destroy them. Some targeted therapies can help in boosting the immune system so it works efficiently against cancer. Furthermore, human body cells divide themselves when needed. Cells receive signals that attach to proteins on the cell surface, indicating cells to divide. Thus, a body recreates the cells continuously depending on the body requirements. However, cancer cells can make changes in proteins, which can restrict cell division, affecting the body. Types of targeted therapy interfere with the proteins that prevent the cell division process. This process helps to slow down the cancer growth in the body. With an increasing number of cancer patients across the world, the global targeted therapeutics market is likely to grow during the forecast period.

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Lack of Availability of Resources, Patient Care During COVID-19 Pandemic Affecting Cancer Treatment

The COVID-19 pandemic has hit healthcare services in multiple dimensions. The healthcare industry is witnessing several obstacles varying from suspending the routine patient flow to healthcare equipment. Moreover, overwhelming healthcare supplies, implementation of extra emergency measures, and social distancing with expanded utilization of tele-health and virtual medicine are some of the common situations across most healthcare facilities. As a prudent approach, oncology applications implemented explicit measures such as decreasing the number of patients in outpatient dispensaries, reducing redundant or elective procedures, and discharging patients from inpatient services. All the factors are contributing to the slowdown of the healthcare industry and hindering the expansion of the targeted therapeutics market to a certain extent.

The COVID-19 pandemic has detrimentally impacted cancer care across the world. Patients with cancer are defenseless people predisposed to many harms during crisis and virus pandemics, including susceptivity to life-threatening viruses and suspension of their cancer or usual medical care. Oncologists across the globe are facing major challenges to provide high-quality constant unfragmented cancer treatment while reducing a patient's risk to exposure during care. The pandemic is likely to affect more in nations with low or developing economy resulting in inadequate resources, sparse infrastructure, deficiency of healthcare providers and coordinated care teams, deficiency of medical equipment and personal protective equipment (PPE), and poor access to technology. Thus, the COVID-19 is likely to leave a mark on the global targeted therapeutics market post-pandemic.

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Growing Number of Cancer Patients Requires Advanced Treatment Therapies

The International Agency for Research on Cancer (IARC) has estimated more than 19 million cancer patients in 2020. Nearly 10 million of those patients have died from cancer-related conditions. The number of cancer patients is expected to tremendously increase, reaching more than 27 million new cancer cases by 2040. Healthcare industry and governing organizations are constantly taking measures and investing more in cancer treatment and drugs to avoid such casualties. Targeted therapy is proving to be an efficient potential treatment with promising therapeutic outcomes across a broad range of cancers. High pervasiveness and growing number of cancer patients across the world are predicted to advance the growth of the global targeted therapeutics market during the forecast period. Thus, the global targeted therapeutics market is anticipated to expand at a CAGR of ~2% from 2021 to 2031.

Variety of Techniques to Treat Cancer Relieves Stress of Recovering Patients

The progress in biotechnology allowed the synthesis of certain biological molecules in microorganisms and other existing cells utilizing the recombinant DNA technology. The world of biologics has grown to encompass a broad range of products. The increase in investment and continues innovative approaches for cancer treatments have led to the rise of biologics in recent years. In addition, some of the targeted therapeutics monoclonal antibodies come in the world's best-selling drugs. On the other hand, small molecule drugs that can enter cells readily due to their low molecular weight are proving efficient to affect other molecules, such as proteins and may cause cancer cells to die. The small-molecule drugs and therapeutic proteins vary considerably in many of their class properties. However, different physicochemical properties not only affect the pharmacological aspects, but also the reliability, efficiency, and manufacturing quality of the drugs.

Compared to monoclonal antibodies, small molecule drugs are relatively uncomplicated synthetic compounds and can be produced by chemical synthesis. The pharmacological exercise, balance, and permeability of small molecules mainly depend on chemistry as opposed to fundamental synergies. Due to their attributes, small-molecule drugs can be determined in a variety of ways, including orally. Their oral bioavailability is certainly a distinct advantage over biologics in drug reinforcement. The growing popularity of various techniques in the targeted therapeutics market is influencing healthcare administrations and patients toward it, and is expected to increase in demand during the forecast period.

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Analysts’ Viewpoint

Targeted therapy comprises drugs that obstruct increase and proliferation of cancer by interfering with particular molecules that are involved in the expansion of carcinogenic cells. The world is expected to witness increasing incidences of cancers such as breast cancer, lung cancer, colorectal cancer, and gastrointestinal cancer, among others, thus boosting the global targeted therapeutics market. However high expenses of these drugs, along with increased cost of molecular diagnostic tests to detect cancer are anticipated to hamper the growth of the targeted therapeutics market. Nevertheless, increasing investments in cancer research, improving insurance coverage, and rising number of new targeted anti cancer drugs are projected to overcome all the restraints of the targeted therapeutics market during the forecast period.

Targeted Therapeutics Market: Overview

  • According to Transparency Market Research’s latest report on the global targeted therapeutics market for the historical period of 20172019 and forecast period of 20212031, increase in incidence of cancer across the globe, surge in global geriatric population, and rise in product approvals are projected to drive the global targeted therapeutics market during the forecast period
  • According to the report, the global targeted therapeutics market was valued over US$ 67.8 Bn in 2020 and is anticipated to expand at a CAGR of ~2% from 2021 to 2031

Increase in Product Approvals Globally: Key Drivers

  • Increase in the number of product approvals for the treatment of different types of cancer, along with robust pipeline products in early and late phases of clinical trials is expected to augment the global targeted therapeutics market during the forecast period
  • For instance, in March 2020, Sanofi’s Sarclisa was approved in combination with pomalidomide and dexamethasone in the U.S. for the treatment of adults with relapsed refractory multiple myeloma (RRMM) who have received at least two prior therapies, including lenalidomide and a proteasome inhibitor, and by the European Commission in June 2020. Sarclisa has presently been launched in the U.S., Austria, Japan, Switzerland, Canada, and the U.K.
  • Novartis’s Kisqali (ribociclib) data demonstrates consistent efficacy benefit with Kisqali plus endocrine therapy across the primary intrinsic subtypes of hormone receptor positive, human epidermal growth factor receptor-2 negative (HR+/HER2-) metastatic breast cancer
  • Rise in demand for the treatment leads to expansion of product pipeline and increase in product approvals, which in turn drives the global targeted therapeutics market

Promising Pipeline of Anticancer Drugs to Boost Market

  • Robust R&D studies are underway for the development of new drugs and therapies for cancer. Several products of different companies are in different phases of clinical trials and will be available in the market during the forecast period.
  • According to the Pharmaceutical Research and Manufacturers of America (PhRMA), around 836 drugs and vaccines were in different clinical stages for cancer in 2016
  • For instance, Pfizer’s Crizotinib, an oral inhibitor of the ALK gene that is mutated in about 5% of patients with NSCLC, produced unprecedented response rates in a phase 2 study
  • Other market players have developed target therapies for cancer that are in different clinical phases. These developments are likely to propel the global targeted therapeutics market during the forecast period.

High Cost of Treatment to Hamper Global Market

  • Targeted therapies that aim at specific genetic biomarkers have been widely adopted in the treatment of several cancer types
  • Tyrosine kinase inhibitors have become standard first-line therapy for patients with advanced NSCLC harboring EGFR mutations or ALK-gene rearrangements; however, these are expensive medications, costing thousands of dollars per month
  • In 2019, J&J mentioned in an article that Janssen’s Balversa (erdafitinib) was the first FGFR inhibitor approved by the FDA. This drug costs around US$ 10,080 to US$ 22,680 for a 28-day supply.
  • Hence, high cost of targeted therapy is likely to hamper the growth of the global targeted therapeutics market during the forecast period

Targeted Therapeutics Market: Competition Landscape

  • This report profiles major players in the global targeted therapeutics market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global targeted therapeutics market is highly consolidated, with small number of players holding majority share
  • Leading players operating in the global targeted therapeutics market include
    • Amgen, Inc.
    • F. Hoffmann-La Roche Ltd.
    • AstraZeneca
    • Bristol-Myers Squibb Company
    • Bayer AG, Merck & Co., Inc.
    • Novartis AG
    • GlaxoSmithKline plc
    • Merck KGaA
    • Sanofi
    • Seagen, Inc.
    • Takeda Pharmaceutical Company Limited
    • Pfizer, Inc.

Targeted Therapeutics Market: Key Developments

  • Key players in the global targeted therapeutics market are engaged in new product launches, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the global targeted therapeutics market. A few expansion strategies adopted by players operating in the global targeted therapeutics market include:
    • In March 2021, Amgen and Five Prime Therapeutics, a clinical-stage biotechnology company focused on developing immuno-oncology and targeted cancer therapies, announced an agreement under which Amgen will acquire Five Prime Therapeutics for US$ 38.00 per share in cash, representing an equity value of approximately US$ 1.9 Bn. This acquisition adds Five Prime's innovative pipeline to Amgen's leading oncology portfolio.
    • In September 2020, Sanofi acquired Principia Biopharma, Inc. for US$ 3.68 Bn (EUR 3.2 Bn). This acquisition will strengthen the core areas of autoimmune and allergic diseases, giving Sanofi full control of tolebrutinib (SAR442168), as well as additional BTK inhibitors to develop further.
  • The report on the global targeted therapeutics market discussed individual strategies, followed by company profiles of manufacturers of targeted therapeutics. The competition landscape section has been included in the report to provide readers with a dashboard view of key players operating in the global targeted therapeutics market.

Targeted Therapeutics Market – Scope of the Report

TMR’s report on the global targeted therapeutics market studies the past as well as current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period 2021 to 2031. The report provides the overall value (US$ Mn) of the global targeted therapeutics market for the period of 2017–2031, considering 2017–2019 as historical years, 2020 as the base year, and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global targeted therapeutics market for the forecast period.

The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global targeted therapeutics market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of the top-down and bottom-up approaches to study various phenomena in the global targeted therapeutics market.

The report comprises an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on the changing competitive dynamics in the global targeted therapeutics market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global targeted therapeutics market. The next section of the global targeted therapeutics market report highlights the USPs, which include disease prevalence and incidence rate of cancer, clinical trial pipeline analysis, key industry events, and impact of COVID-19 on the global targeted therapeutics market.

The report delves into the competitive landscape of the global targeted therapeutics market. Key players operating in the global targeted therapeutics market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global targeted therapeutics market report.

Key Questions Answered in Targeted Therapeutics Market Report

  • What is the sales/revenue generated by the global targeted therapeutics market across all the regions during the forecast period?
  • What are the key trends in the global targeted therapeutics market?
  • What are the major drivers, restraints, and opportunities in the global market?
  • Which region is set to expand at the fastest CAGR during the forecast period?
  • Which segment will have the highest revenue globally in 2031 and which application will expand at the fastest CAGR during the forecast period?

Targeted Therapeutics Market – Research Objectives and Research Approach

The comprehensive report on the global targeted therapeutics market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and healthcare compliances laid down by accredited agencies in the purview of research in the global targeted therapeutics market. It is followed by market introduction, market dynamics, and an overview of the global targeted therapeutics market, which includes TMR analysis of market drivers, restraints, and trends affecting the growth of the market. Furthermore, Y-o-Y analysis with elaborate insights has been provided to understand the Y-o-Y trends of the targeted therapeutics market. The next section of the global targeted therapeutics market report highlights the USPs, which include disease prevalence and incidence rate of cancer, clinical trial pipeline analysis, key industry events, and impact of COVID-19 on the global targeted therapeutics market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

Revenue generated by leading targeted therapeutics has been mapped to ascertain the size of the global targeted therapeutics market in terms of value. The forecast presented here assesses the total revenue generated in the targeted therapeutics market. In order to provide an accurate forecast, we initiated by sizing up the current targeted therapeutics market with the help of the parent market.

The report analyzes the global targeted therapeutics market in terms of type, application, distribution channel, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2031 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global targeted therapeutics market.

Targeted Therapeutics Market - Segmentation

Type
  • Monoclonal Antibodies
    • Angiogenesis Inhibitors
    • HER-2 Targeted Agents
    • Anti-CD20 Monoclonal Antibodies
  • Small Molecule
    • Tyrosine Kinase Inhibitors
      • mTOR Inhibitors
      • PARP Inhibitors
Application
  • Breast Cancer
  • Colorectal Cancer
  • Leukemia
  • Lung Cancer
  • Lymphoma
  • Multiple Sclerosis
  • Renal Cancer
  • Wet Age-related Macular Degeneration
  • Others (Ovarian Cancer, Fallopian Tube Cancer, Prostate Cancer, and Pancreatic Cancer)
Distribution Channel
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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