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.
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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.
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.
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.
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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.
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
The global targeted therapeutics market for the historical period of 2017–2019 and forecast period of 2021–2031, 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.
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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.
- Bristol-Myers Squibb Company
- Bayer AG, Merck & Co., Inc.
- Novartis AG
- GlaxoSmithKline plc
- Merck KGaA
- 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.
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 – Segmentation
- Monoclonal Antibodies
- Angiogenesis Inhibitors
- HER-2 Targeted Agents
- Anti-CD20 Monoclonal Antibodies
- Small Molecule
- Tyrosine Kinase Inhibitors
- mTOR Inhibitors
- PARP Inhibitors
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- Multiple Sclerosis
- Renal Cancer
- Wet Age-related Macular Degeneration
- Others (Ovarian Cancer, Fallopian Tube Cancer, Prostate Cancer, and Pancreatic Cancer)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Targeted Therapeutics Market
4. Market Overview
4.1.1. Market Definition
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
4.4. Global Targeted Therapeutics Market Analysis and Forecast, 2017–2030
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Cancer Prevalence and Incidence Rate by Key Region
5.2. Clinical Trial Pipeline Analysis
5.3. Key Industry Events
5.4. COVID-19 Pandemics Impact on Global Targeted Therapeutics Market
6. Global Targeted Therapeutics Market Analysis and Forecast, by Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Global Targeted Therapeutics Market Value (US$ Mn) Forecast, by Type, 2017–2030
6.3.1. Monoclonal Antibodies
188.8.131.52. Angiogenesis Inhibitors
184.108.40.206. HER-2 Targeted Agents
220.127.116.11. Anti-CD20 Monoclonal Antibodies
6.3.2. Small Molecule
18.104.22.168. Tyrosine Kinase Inhibitors
22.214.171.124. mTOR Inhibitors
126.96.36.199. PARP Inhibitors
6.4. Global Targeted Therapeutics Market Attractiveness Analysis, by Type
7. Global Targeted Therapeutics Market Analysis and Forecast, by Application
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Global Targeted Therapeutics Market Value (US$ Mn) Forecast, by Application, 2017–2030
7.3.1. Breast Cancer
7.3.2. Colorectal Cancer
7.3.4. Lung Cancer
7.3.6. Multiple Sclerosis
7.3.7. Renal Cancer
7.3.8. Wet Age-related Macular Degeneration
7.4. Global Targeted Therapeutics Market Attractiveness Analysis, by Application
8. Global Targeted Therapeutics Market Analysis and Forecast, by Distribution Channel
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Global Targeted Therapeutics Market Value (US$ Mn) Forecast, by Distribution Channel, 2017–2030
8.3.1. Hospital Pharmacies
8.3.2. Retail Pharmacies
8.3.3. Online Pharmacies
8.4. Global Targeted Therapeutics Market Attractiveness Analysis, by Distribution Channel
9. Global Targeted Therapeutics Market Analysis and Forecast, by Region
9.1. Key Findings
9.2. Global Targeted Therapeutics Market Value (US$ Mn) Forecast, by Region
9.2.1. North America
9.2.3. Asia Pacific
9.2.4. Latin America
9.2.5. Middle East & Africa
9.3. Global Targeted Therapeutics Market Attractiveness Analysis, by Region
10. North America Targeted Therapeutics Market Analysis and Forecast
10.1.1. Key Findings
10.2. North America Targeted Therapeutics Market Value (US$ Mn) Forecast, by Type, 2017–2030
10.2.1. Monoclonal Antibodies
10.2.1.1. Angiogenesis Inhibitors
10.2.1.2. HER-2 Targeted Agents
10.2.1.3. Anti-CD20 Monoclonal Antibodies
10.2.2. Small Molecule
10.2.2.1. Tyrosine Kinase Inhibitors
10.2.2.2. mTOR Inhibitors
10.2.2.3. PARP Inhibitors
10.3. North America Targeted Therapeutics Market Value (US$ Mn) Forecast, by Application, 2017–2030
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