The colorectal cancer therapeutics market is projected to register a CAGR of 6.0% during the forecast period (2022-2027).
Cancer care and maintaining high standards of diagnosis and treatment have been the major priorities of the national healthcare bodies and international healthcare systems across the world. However, the pandemic has shifted this focus away from cancer services. Colorectal cancer patients are particularly vulnerable to the disruption of their care as diagnosis through endoscopy was stopped due to concerns about virus transmission. Various studies have been published on the COVID impact. For instance, in November 2021, a research study published titled "Impact of the COVID-19 Pandemic on Colorectal Cancer Diagnosis and Treatment: a Systematic Review" stated that the reduction in the diagnosis and treatment of colorectal cancer due to the COVID-19 pandemic, compensating for the reduction and preventing the continuation of this declining trend, requires serious and effective interventions to prevent its subsequent consequences, including referrals of people with advanced stages and emergency conditions, increasing treatment costs and reducing the quality of life and patients survival. However, the market is likely to grow in the upcoming future.
The increase in the prevalence of colorectal cancer is one of the key factors for the growth of the market. According to the statistic published by GLOBOCAN, colorectal cancer (CRC) is the fourth most common cause of cancer incidence among the German population and there are around 57,528 new cases reported for CRC in the year 2020 in Germany. Additionally, as per statistics provided by GLOBOCAN 2020, there are around 33,815 new cases of colon cancer and 11,951 new deaths reported in the year 2020 in the United Kingdom. In the United Kingdom, government initiatives have come up to diagnose CRC cases in the population aged 50 years or above, as this group has a higher incidence rate. With the proper diagnosis, more than 2,000 lives can be saved per year in the United Kingdom. According to the National Institute of Health 2019, the incidence of CRC has been rising in China over the last few decades. Additionally, as per the statistics provided by GLOBOCAN, there are around 306,078 new cases of colon cancer reported in China for the year 2020. The same source also reported that the 5-year prevalence of colon cancer in China is 749,096. Moreover, a study titled ‘Prevalence of Colorectal Neoplasia in an Average-risk Chinese Population: A Systematic Review and Meta-analysis’ in 2019 reported that ‘The high prevalence of colorectal neoplasia among Chinese men and older individuals underscored the importance of expanding colorectal cancer screening programs for these populations, and this drives the market in coming future. Product launches are another factor in the growth of the market. For instance, in July 2020, Taiho Pharmaceutical Co., Ltd. launched its anticancer agent LONSURF (brand name in Japan, trifluridine/tipiracil (FTD/TPI), development code TAS-102) for the treatment of patients with metastatic colorectal cancer (mCRC). Lonsurf was approved in China in August 2019 based on the results of the Phase III TERRA study on patients with refractory mCRC in Asia (China, South Korea, and Thailand). Such approval is expected to increase the market growth.
However, high costs and the side effects associated with drugs are likely to hinder market growth.
Chemotherapy is one of the main cancer treatment methods that uses drugs to kill colorectal cancer cells by preventing them from growing and dividing. These drugs are systemic treatments; the drugs travel through the bloodstream and damage cancer cells throughout the body. Unfortunately, chemotherapy can also damage some healthy cells and cause major side effects. Chemotherapy may shrink and prevent the growth of colorectal tumors. Product approval is key factor for the growth of the market. For instance, in June 2021, Bristol Myers Squibb announced that the European Commission (EC) has approved Opdivo (nivolumab) plus Yervoy (ipilimumab) for the treatment of adult patients with mismatch repair deficient (dMMR) or microsatellite instability-high (MSI-H) metastatic colorectal cancer (mCRC) after prior fluoropyrimidine-based combination chemotherapy. The EC’s decision is based on results from the Phase 2 CheckMate -142 trial in which Opdivo plus Yervoy demonstrated a clinically meaningful improvement in objective response rate (ORR) in patients with MSI-H/dMMR mCRC who received prior treatment with fluoropyridine, oxaliplatin, and irinotecan. The safety profile for Opdivo plus Yervoy was consistent with previous studies of the combination in other tumor types. Similarly, in June 2020, the Food and Drug Administration granted accelerated approval to pembrolizumab (KEYTRUDA, Merck & Co., Inc.) for the treatment of adult and pediatric patients with unresectable or metastatic tumor mutational burden-high solid tumors. Such approval increases the market growth by providing more advanced drugs in the market.
North America holds the largest share in the market studied, due to the increasing number of colorectal cancer incidence in the United States, along with several initiatives. For instance, according to the American Cancer Society, colorectal cancer is the third most common cancer diagnosed in both men and women in the United States, and it is estimated that around 104,270 new cases of colon cancer and 45,230 new cases of rectal cancer will be reported in the United States for 2021. Similar to the United States, colorectal cancer (CRC) continues to be the most common cause of cancer-related deaths and cancer-related premature deaths in Canada. According to the estimates of Canada.ca (Government of Canada) around 26,300 Canadians were diagnosed with colorectal cancer in 2019 (14,600 males and 11,700 females) and 9,500 (5,200 males and 4,400 females) Canadians died from the disease. Colorectal cancer is the third-most common cancer in Canada. According to the Canadian government, 93% of cases occur in adults aged over 50, and it has been reported that around 26,900 Canadians have been diagnosed with colorectal cancer in 2020. This gradual increase in the incidence rate among the Canadian population is worrisome and needs to be addressed. This has led to an increase in the demand for treatment procedures for colorectal cancer in the country. Product approval are another factor for the growth of the market. For instance, in April 2020, Pfizer Inc. PFE announced that the FDA has approved its cancer drug Braftovi (encorafenib) in combination with Eli Lilly’s LLY EGFR antagonist, Erbitux (cetuximab), for the treatment of BRAFV600E-mutant metastatic colorectal cancer in patients having received prior therapy. Such approvals increase the market growth by providing better care for the patients.
Hence, due to abovementiond factors the market is likely to grow in the future.
The market is partially fragmented and consists of several major players. Some of the companies which are currently dominating the market are Amgen Inc, Bayer AG, Bristol-Myers Squibb Company, Pfizer Inc., and F. Hoffmann-La Roche Ltd among others.
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Cancer care and maintaining high standards of diagnosis and treatment have been the major priorities of the national healthcare bodies and international healthcare systems across the world. However, the pandemic has shifted this focus away from cancer services. Colorectal cancer patients are particularly vulnerable to the disruption of their care as diagnosis through endoscopy was stopped due to concerns about virus transmission. Various studies have been published on the COVID impact. For instance, in November 2021, a research study published titled "Impact of the COVID-19 Pandemic on Colorectal Cancer Diagnosis and Treatment: a Systematic Review" stated that the reduction in the diagnosis and treatment of colorectal cancer due to the COVID-19 pandemic, compensating for the reduction and preventing the continuation of this declining trend, requires serious and effective interventions to prevent its subsequent consequences, including referrals of people with advanced stages and emergency conditions, increasing treatment costs and reducing the quality of life and patients survival. However, the market is likely to grow in the upcoming future.
The increase in the prevalence of colorectal cancer is one of the key factors for the growth of the market. According to the statistic published by GLOBOCAN, colorectal cancer (CRC) is the fourth most common cause of cancer incidence among the German population and there are around 57,528 new cases reported for CRC in the year 2020 in Germany. Additionally, as per statistics provided by GLOBOCAN 2020, there are around 33,815 new cases of colon cancer and 11,951 new deaths reported in the year 2020 in the United Kingdom. In the United Kingdom, government initiatives have come up to diagnose CRC cases in the population aged 50 years or above, as this group has a higher incidence rate. With the proper diagnosis, more than 2,000 lives can be saved per year in the United Kingdom. According to the National Institute of Health 2019, the incidence of CRC has been rising in China over the last few decades. Additionally, as per the statistics provided by GLOBOCAN, there are around 306,078 new cases of colon cancer reported in China for the year 2020. The same source also reported that the 5-year prevalence of colon cancer in China is 749,096. Moreover, a study titled ‘Prevalence of Colorectal Neoplasia in an Average-risk Chinese Population: A Systematic Review and Meta-analysis’ in 2019 reported that ‘The high prevalence of colorectal neoplasia among Chinese men and older individuals underscored the importance of expanding colorectal cancer screening programs for these populations, and this drives the market in coming future. Product launches are another factor in the growth of the market. For instance, in July 2020, Taiho Pharmaceutical Co., Ltd. launched its anticancer agent LONSURF (brand name in Japan, trifluridine/tipiracil (FTD/TPI), development code TAS-102) for the treatment of patients with metastatic colorectal cancer (mCRC). Lonsurf was approved in China in August 2019 based on the results of the Phase III TERRA study on patients with refractory mCRC in Asia (China, South Korea, and Thailand). Such approval is expected to increase the market growth.
However, high costs and the side effects associated with drugs are likely to hinder market growth.
Key Market Trends
Chemotherapy is Expected to Hold a Significant Market Share Over the Forecast Period
Chemotherapy is one of the main cancer treatment methods that uses drugs to kill colorectal cancer cells by preventing them from growing and dividing. These drugs are systemic treatments; the drugs travel through the bloodstream and damage cancer cells throughout the body. Unfortunately, chemotherapy can also damage some healthy cells and cause major side effects. Chemotherapy may shrink and prevent the growth of colorectal tumors. Product approval is key factor for the growth of the market. For instance, in June 2021, Bristol Myers Squibb announced that the European Commission (EC) has approved Opdivo (nivolumab) plus Yervoy (ipilimumab) for the treatment of adult patients with mismatch repair deficient (dMMR) or microsatellite instability-high (MSI-H) metastatic colorectal cancer (mCRC) after prior fluoropyrimidine-based combination chemotherapy. The EC’s decision is based on results from the Phase 2 CheckMate -142 trial in which Opdivo plus Yervoy demonstrated a clinically meaningful improvement in objective response rate (ORR) in patients with MSI-H/dMMR mCRC who received prior treatment with fluoropyridine, oxaliplatin, and irinotecan. The safety profile for Opdivo plus Yervoy was consistent with previous studies of the combination in other tumor types. Similarly, in June 2020, the Food and Drug Administration granted accelerated approval to pembrolizumab (KEYTRUDA, Merck & Co., Inc.) for the treatment of adult and pediatric patients with unresectable or metastatic tumor mutational burden-high solid tumors. Such approval increases the market growth by providing more advanced drugs in the market.
North America is Expected to Dominate the Market Over the Forecast Period
North America holds the largest share in the market studied, due to the increasing number of colorectal cancer incidence in the United States, along with several initiatives. For instance, according to the American Cancer Society, colorectal cancer is the third most common cancer diagnosed in both men and women in the United States, and it is estimated that around 104,270 new cases of colon cancer and 45,230 new cases of rectal cancer will be reported in the United States for 2021. Similar to the United States, colorectal cancer (CRC) continues to be the most common cause of cancer-related deaths and cancer-related premature deaths in Canada. According to the estimates of Canada.ca (Government of Canada) around 26,300 Canadians were diagnosed with colorectal cancer in 2019 (14,600 males and 11,700 females) and 9,500 (5,200 males and 4,400 females) Canadians died from the disease. Colorectal cancer is the third-most common cancer in Canada. According to the Canadian government, 93% of cases occur in adults aged over 50, and it has been reported that around 26,900 Canadians have been diagnosed with colorectal cancer in 2020. This gradual increase in the incidence rate among the Canadian population is worrisome and needs to be addressed. This has led to an increase in the demand for treatment procedures for colorectal cancer in the country. Product approval are another factor for the growth of the market. For instance, in April 2020, Pfizer Inc. PFE announced that the FDA has approved its cancer drug Braftovi (encorafenib) in combination with Eli Lilly’s LLY EGFR antagonist, Erbitux (cetuximab), for the treatment of BRAFV600E-mutant metastatic colorectal cancer in patients having received prior therapy. Such approvals increase the market growth by providing better care for the patients.
Hence, due to abovementiond factors the market is likely to grow in the future.
Competitive Landscape
The market is partially fragmented and consists of several major players. Some of the companies which are currently dominating the market are Amgen Inc, Bayer AG, Bristol-Myers Squibb Company, Pfizer Inc., and F. Hoffmann-La Roche Ltd among others.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Amgen Inc.
- Bayer AG
- Amneal Pharmaceuticals Inc.
- Bristol-Myers Squibb
- Eli Lilly and Company
- Hikma Pharmaceuticals Plc
- Merck & Co., Inc.
- F. Hoffmann-La Roche
- Teva Pharmaceutical Industries Ltd.
- Sanofi SA
- Biocon Ltd.
- Pfizer Inc.
Methodology
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