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Colorectal Cancer Therapeutics Market Size & Share, by Therapy (Targeted Therapy, Immunotherapy, Chemotherapy, Radiation Therapy, Embolization, Surgery); Cancer Type (Colorectal Adenocarcinoma, Gastrointestinal Carcinoid Tumors); Application (Hospitals, Clinics, Research institutions); End-user (Hospitals, Ambulatory Surgical Centers, Clinics, Diagnostic Imaging Centers) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 436
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

 

Colorectal Cancer Therapeutics Market size is poised to reach USD 58 Billion by the end of 2033, growing at a CAGR of 10% during the forecast period, i.e., 2023-2033. In the year 2023, the industry size of colorectal cancer therapeutics was over USD 18.5 Billion. The growth of the market is primarily attributed to the rising prevalence of colorectal cancer across the globe, increasing awareness of the serious impacts of colorectal cancer, and growing diagnostic methods. For instance, nearly 2.3 million cases of colorectal cancer were diagnosed in 2020, making it the third most prevalent cancer type worldwide.

Further, systematic treatments include chemotherapy, targeted therapy, and immunotherapy. Rising awareness in people regarding cancer, and increasing count of colorectal cancer screenings are robustly driving the growth of the market. It is observed that every year, more than 16 million colonoscopies are conducted in the United States.

Colorectal-Cancer-Therapeutics-Market
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Colorectal Cancer Therapeutics Sector: Growth Drivers and Challenges

Growth Drivers

  • Worldwide Increasing Prevalence of Cancer - Cancer is a broad term that refers to a wide range of diseases that affect any part of the body. Cancer occurs when the body’s cells develop in an uncontrolled way and spread to other parts of the body. Currently, cancer is a leading cause of death across the globe. As per the World Health Organization (WHO) data, in 2020, nearly 10 million people died from cancer across the globe. Therefore, the increasing prevalence of cancer is leading to the growth of the colorectal cancer therapeutics market.
  • Emerging Novel Therapies for Cancer Treatment – For instance, CRISPR is a new CAR T-cell therapy, which involves genetically engineering a patient's T-cells (a type of white blood cell) to fight cancer. As a potential new cancer treatment technology, gene editing with CRISPR takes months rather than a year or two to mutate T cells. Patients are anticipated to benefit from much faster treatment as a result of this.
  • Significant Research on Novel Drugs – It has been observed in a recent short clinical trial, the investigational medicine dostarlimab completely cured all 18 patients of rectal cancer.
  • Global Surge in Geriatric Population - According to the data released by the World Health Organization, the global population of people aged 60 and over is projected to rise from 1 billion in 2020 to 1.4 billion by 2030. The world's population of people aged 60 and up is expected to double to 2.1 billion by 2050.
  • Escalation in Worldwide Healthcare Expenditure – As per the World Bank, in 2019, the global healthcare expenditure expanded by 9.83% of total GDP. This represents an increase from 2017, while the global healthcare expenditure accounted for 9.77% of the total GDP.

Challenges

  • High Cost of Cancer Drugs- Cancer drugs need a new variety of APIs as the patient develops resistance to the old drugs owing to long-term treatment methods. Cancer can be of different types in different areas in the same person. Also, there are other medications required to treat the side effects of cancer disease that hampers the market growth.
  • Concern for Adverse Effect Associated with the Treatment
  • Long Term Procedures of Cancer Treatments

Colorectal Cancer Therapeutics Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

10%

Base Year Market Size (2023)

USD 18.5 Billion

Forecast Year Market Size (2033)

USD 58 Billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Colorectal Cancer Therapeutics Segmentation

Therapy (Targeted Therapy, Immunotherapy, Chemotherapy, Radiation Therapy, Embolization, Surgery)

The global colorectal cancer therapeutics market is segmented and analyzed for demand and supply by therapy into targeted therapy, immunotherapy, chemotherapy, radiation therapy, embolization, surgery, and others. Out of these, the targeted therapy segment is projected to significantly grow over the forecast period on the back of its highly effective and lifesaving functions, and increasingly sophisticated therapeutics. For instance, chemotherapy sessions offer only around a 25% chance of success, whereas targeted therapy is close to 75% effective.

Our in-depth analysis of the global market includes the following segments:

          By Therapy
  • Targeted Therapy
  • Immunotherapy
  • Chemotherapy
  • Radiation Therapy
  • Embolization
  • Surgery
  • Others

          By Cancer Type
  • Colorectal Adenocarcinoma
  • Gastrointestinal Carcinoid Tumors
  • Others

            By Application
  • Hospitals
  • Clinics
  • Research Institutions

           By End-User
  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Diagnostic Imaging Centers
  • Others

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Colorectal Cancer Therapeutics Industry - Regional Synopsis

North America Market Forecast

The North America region colorectal cancer therapeutics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The escalating incidences of colorectal cancer coupled with supportive government initiatives, rising healthcare expenditure, rising number of colon cancer, and increasing awareness among people regarding the screening of colorectal cancer. For instance, the third most prevalent cancer in the United States is colorectal cancer. Around 105,280 new cases of colon cancer and 45,760 new cases of rectal cancer are estimated to be diagnosed in 2022.

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Companies Dominating the Colorectal Cancer Therapeutics Landscape

top-features-companies
    • Novartis AG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Pfizer Inc.
    • Eli Lilly and Company
    • F. Hoffmann-La Roche Ltd
    • Bristol-Myers Squibb Company
    • Bayer AG
    • Amgen Inc.
    • Genentech, Inc.
    • Teva Pharmaceuticals Industries Ltd.
    • Ipsen Biopharmaceuticals, Inc.

In the News

  • Ipsen Biopharmaceuticals, Inc. completed the acquisition of Epizyme Inc. and expanded its oncology portfolio.

  • Novartis AG announced the promising clinical data for its investigational KRASG12C inhibitor JDQ443, an investigational selective, covalent, and orally bioavailable inhibitor at the annual meeting of the American Association for Cancer Research (AACR)

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 436
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Worldwide increasing prevalence of cancer, emerging novel therapies for cancer treatment, significant research on novel drugs, and global surge in geriatric population are some major factors driving the growth of the market.

The market is anticipated to attain a CAGR of 10% over the forecast period, i.e., 2023-2033.

High cost of cancer drugs, concern for adverse effect associated with the treatment, and long term procedures of cancer treatments are estimated to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Novartis AG, Pfizer Inc., Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Bayer AG, Amgen Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by therapy, cancer type, application, end-user, and by region.

The targeted therapy segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Colorectal Cancer Therapeutics Market Report Scope
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