The Targeted Therapeutics market is projected to reach US$ 87 Bn by 2030. And registering a CAGR of around 2.1% over the forecast period 2021 – 2030.
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Targeted therapies are drugs or other substances that block the growth of unwanted cells and pathogens by interfering with specific molecules (“molecular targets”) involved in the growth, progression, and spread of disease. Targeted therapies are sometimes called molecularly targeted drugs, molecularly targeted therapies, precision medicines, etc. The emerging field of target therapeutics offers varied potential treatments. Targeted therapies offer the possibility of finding a cure for diseases with significant unmet needs, including orphan diseases and diseases having a high burden globally. Targeted therapy is widely used in the treatment of different forms of cancer such as renal, breast, lung, colorectal, and leukemia, and other diseases such as multiple sclerosis and wet age-related macular degeneration.
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
Increase in Incidence of Cancer to Drive Global Market
The increase in incidence of cancers such as breast, lung, and leukemia has fueled the demand for targeted therapeutics. Cancer is a leading cause of death across the globe. It is more prevalent in developed and emerging markets. According to the International Agency for Research on Cancer, one in five persons develops cancer during his or her lifetime, and one in eight men, and one in 11 women succumbs to the disease. Tobacco smoking, pollution, changing lifestyle, and transmission of carcinogens and carcinogenic infections such as HPV, H. Pylori, and HCV have increased the incidence rate of cancer across the globe.
According to the International Agency for Research on Cancer (IARC), an estimated 19.3 million new cancer cases were recorded in 2020 and nearly 10 million individuals died from cancer-related causes. The global burden is expected to increase to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040, primarily due to increase and aging of the population. Targeted therapy has proven to offer promising therapeutic outcomes across a broad range of cancers and is increasingly used in healthcare facilities. Hence, high prevalence and increase in incidence rate of cancer across the globe is a major factor projected to boost the growth of 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
Regional Scope
In terms of region, the global targeted therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global targeted therapeutics market in 2020, followed by Europe. The U.S. dominated the targeted therapeutics market in North America in 2020, due to the presence of key players, adoption of targeted therapeutics monoclonal antibodies, and adequate reimbursement policies. This, in turn, is expected to boost the market in the region. The targeted therapeutics market in Asia Pacific is likely to expand at a high CAGR from 2021 to 2030. The growth of the market in the region can be attributed to the adoption of new targeted therapeutic drugs, increase in awareness about various oncological disorders, rise in healthcare expenditure, and high penetration of research activities across the region.
Competitive Landscape and Market Share Analysis
The targeted therapies market competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, targeted therapies sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. For the period 2017-2020, this study provides the targeted therapies sales, revenue and market share for each player covered in this report.
- Crucial data regarding the major contenders, product portfolio, market remuneration, and production patterns are documented in the report.
- The report presents the pricing models followed by each company, alongside the gross margins and market share held by each company.
Key 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, and Pfizer, Inc.
Global Targeted Therapeutics Market: Segmentation
Targeted Therapeutics Market, by Type
-
- Monoclonal Antibodies
- Angiogenesis Inhibitors
- HER-2 Targeted Agents
- Anti-CD20 Monoclonal Antibodies
- Small Molecule
- Tyrosine Kinase Inhibitors
- mTOR Inhibitors
- PARP Inhibitors
- Monoclonal Antibodies
Targeted Therapeutics Market, by 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)
Targeted Therapeutics Market, by Distribution Channel
-
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Targeted Therapeutics Market, by Region
-
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
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Research Methodology
The research methodology adopted by analysts for compiling the global targeted therapies market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global targeted therapies market.
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Targeted Therapeutics Market, By Type
7.1. Targeted Therapeutics Market, by Type, 2021-2030
7.1.1. Monoclonal Antibodies
7.1.1.1. Market Revenue and Forecast (2016-2030)
7.1.2. Small Molecule
7.1.2.1. Market Revenue and Forecast (2016-2030)
Chapter 8. Global Targeted Therapeutics Market, By Application
8.1. Targeted Therapeutics Market, by Application, 2021-2030
8.1.1. Breast Cancer
8.1.1.1. Market Revenue and Forecast (2016-2030)
8.1.2. Colorectal Cancer
8.1.2.1. Market Revenue and Forecast (2016-2030)
8.1.3. Leukemia
8.1.3.1. Market Revenue and Forecast (2016-2030)
8.1.4. Lung Cancer
8.1.4.1. Market Revenue and Forecast (2016-2030)
8.1.5. Lymphoma
8.1.5.1. Market Revenue and Forecast (2016-2030)
8.1.6. Multiple Sclerosis
8.1.6.1. Market Revenue and Forecast (2016-2030)
8.1.7. Renal Cancer
8.1.7.1. Market Revenue and Forecast (2016-2030)
8.1.8. Wet Age-related Macular Degeneration
8.1.8.1. Market Revenue and Forecast (2016-2030)
8.1.9. Others (Ovarian Cancer, Fallopian Tube Cancer, Prostate Cancer, and Pancreatic Cancer)
8.1.9.1. Market Revenue and Forecast (2016-2030)
Chapter 9. Global Targeted Therapeutics Market, By Distribution Channel
9.1. Targeted Therapeutics Market, by Distribution Channel, 2021-2030
9.1.1. Hospital Pharmacies
9.1.1.1. Market Revenue and Forecast (2016-2030)
9.1.2. Retail Pharmacies
9.1.2.1. Market Revenue and Forecast (2016-2030)
9.1.3. Online Pharmacies
9.1.3.1. Market Revenue and Forecast (2016-2030)
Chapter 10.Global Targeted Therapeutics Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Type (2016-2030)
10.1.2. Market Revenue and Forecast, by Application (2016-2030)
10.1.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Type (2016-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2016-2030)
10.1.4.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Type (2016-2030)
10.1.5.2. Market Revenue and Forecast, by Application (2016-2030)
10.1.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Type (2016-2030)
10.2.2. Market Revenue and Forecast, by Application (2016-2030)
10.2.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Type (2016-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2016-2030)
10.2.4.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Type (2016-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2016-2030)
10.2.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Type (2016-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2016-2030)
10.2.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Type (2016-2030)
10.2.7.2. Market Revenue and Forecast, by Application (2016-2030)
10.2.7.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Type (2016-2030)
10.3.2. Market Revenue and Forecast, by Application (2016-2030)
10.3.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Type (2016-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2016-2030)
10.3.4.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Type (2016-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2016-2030)
10.3.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Type (2016-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2016-2030)
10.3.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Type (2016-2030)
10.3.7.2. Market Revenue and Forecast, by Application (2016-2030)
10.3.7.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Type (2016-2030)
10.4.2. Market Revenue and Forecast, by Application (2016-2030)
10.4.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Type (2016-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2016-2030)
10.4.4.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Type (2016-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2016-2030)
10.4.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Type (2016-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2016-2030)
10.4.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Type (2016-2030)
10.4.7.2. Market Revenue and Forecast, by Application (2016-2030)
10.4.7.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Type (2016-2030)
10.5.2. Market Revenue and Forecast, by Application (2016-2030)
10.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Type (2016-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2016-2030)
10.5.4.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Type (2016-2030)
10.5.5.2. Market Revenue and Forecast, by Application (2016-2030)
10.5.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2030)
Chapter 11. Company Profiles
11.1. Amgen, Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. F. Hoffmann-La Roche Ltd.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. AstraZeneca
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Bristol-Myers Squibb Company
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Bayer AG
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Merck & Co., Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Novartis AG
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Pfizer Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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