Colorectal Cancer Drugs Global Market Report 2024

The colorectal cancer drugs market size has grown strongly in recent years. It will grow from $19.51 billion in 2023 to $20.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historical period can be attributed to factors such as the integration of multimodal approaches, the introduction of chemotherapy, advancements in surgical techniques, the emergence of targeted therapies, and the contributions from clinical trials and research efforts.

The colorectal cancer drugs market size is expected to see strong growth in the next few years. It will grow to $26.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be attributed to the rise in personalized treatment approaches, the adoption of patient-centric care models, the expansion of targeted therapies, increased adoption of combination therapies, and the acceleration of regulatory processes. Major trends expected in the forecast period include advancements in immunotherapy, the evolution of precision medicine, the exploration and application of combination therapies, research and utilization of biomarkers, and innovations in clinical trials.

The anticipated surge in demand for personalized medicines is poised to drive the growth of the colorectal cancer drugs market. Personalized medicine, also referred to as precision medicine, adopts an approach that considers individual variations in genes, environments, and lifestyles for medical treatment. This approach is revolutionizing the treatment of colorectal cancer (CRC), providing more tailored and effective care. As research and drug development align with specific genetic and molecular profiles, the colorectal cancer drugs market is expected to grow. The availability of over 75,000 genetic testing products and 300 personalized medicines, as reported in October 2022 by STAT, underscores the increasing demand for personalized medicine, contributing to the market's growth.

The colorectal cancer drugs market is also expected to witness growth due to the escalating number of clinical trials. Clinical trials, involving human volunteers, evaluate the safety and efficacy of various medical treatments, including drugs designed for colorectal cancer treatment. These trials play a crucial role in identifying novel therapies that can enhance patient outcomes, potentially introducing new drugs to the market. The substantial increase in the number of clinical trials, with over 452,000 registered studies and more than 64,000 actively seeking participants, as reported by Xtalks in May 2023, indicates a significant rise compared to early 2021. This surge in clinical trials is contributing to the growth of the colorectal cancer drugs market.

The use of biologics and targeted therapies poses a restraint on the colorectal cancer drugs market. Biologic therapy harnesses the body's immune system to combat cancer, potentially reducing immune power, while targeted therapies block cancer growth and spread. Despite their advantages, such as specificity to cancer cells and efficacy in advanced stages, these therapies may negatively impact the market by affecting the growth of conventional chemical drugs. The evolving landscape of targeted therapies, including hormone therapies, gene expression modulators, apoptosis inducers, and immunotherapies, signifies a shift in colorectal cancer treatment.

Major companies in the colorectal cancer drugs market are focused on gaining FDA approvals for new drugs to enhance profitability. An example is LONSURF (trifluridine/tipiracil), an oral prescription medication approved by the FDA for treating specific cancers such as colon, rectal, and stomach cancer that has metastasized. Taiho Pharmaceutical Co. Ltd. announced FDA approval for LONSURF in combination with bevacizumab for treating metastatic colorectal cancer in August 2023. The combination significantly increased overall and progression-free survival compared to LONSURF alone.

In October 2023, the Bristol-Myers Squibb Company acquired Mirati Therapeutics Inc for $5.8 billion. This strategic move aimed to add KRAZATI, a prominent lung cancer drug, to Bristol Myers Squibb's commercial portfolio, enhancing and diversifying its oncology offerings. The acquisition aligns with Bristol-Myers Squibb's mission to uncover scientific advancements that promise a life free from cancer. Mirati Therapeutics Inc., a US-based biotech company, contributes valuable therapies to Bristol-Myers Squibb's efforts in the field of oncology.

Major companies operating in the colorectal cancer drugs market report are Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Bristol-Myers Squibb Company, AstraZeneca PLC, Abbott Laboratories, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, F. Hoffmann-La Roche Ltd., Danaher Corporation, Eli Lilly and Company, Amgen Inc., Siemens Healthineers AG, Astellas Pharma Inc., Servier Laboratories, Eisai Co. Ltd., Sumitomo Dainippon Pharma Co. Ltd., Ipsen SA, Taiho Pharmaceutical Co. Ltd., Kyowa Kirin Co. Ltd., Metabiomics Corporation, Randox Laboratories, Taiho Oncology Inc., EDP Biotech Corporation, Genomic Tree Inc., Ono Pharmaceutical Co. Ltd., Epigenomics AG, Daiichi Sankyo Company Limited, Otsuka Pharmaceutical Co. Ltd., Mundipharma International Limited, Teva Pharmaceutical Industries Ltd., Biogen Inc., Gilead Sciences Inc., Johnson & Johnson Services Inc., Spectrum Pharmaceuticals Inc., Exelixis Inc., Seattle Genetics Inc., Incyte Corporation, Clovis Oncology Inc., Karyopharm Therapeutics Inc.

North America was the largest region in the colorectal cancer drugs market in 2023. The Middle East is expected to be the fastest-growing region in the global colorectal cancer drugs market share during the forecast period. The regions covered in the colorectal cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the colorectal cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of drugs used for colorectal cancer treatment include vascular endothelial growth factor (VEGF) inhibitors, epidermal growth factor receptor (EGFR) inhibitors, programmed cell death protein 1/PD1 ligand 1 (PD1/PDL1) inhibitors, BRAF or MEK inhibitors, tyrosine kinase (TKI) inhibitors, and immunomodulators. Vascular endothelial growth factor (VEGF) inhibitors are drugs that block VEGF and VEGFR activity. The different classes of drugs include immunotherapy, chemotherapy, and others, and these medications are typically dispensed through hospital pharmacies, retail pharmacies, and other distribution channels.

The colorectal cancer drugs market research report is one of a series of new reports that provides colorectal cancer drugs market statistics, including colorectal cancer drugs industry global market size, regional shares, competitors with a colorectal cancer drugs market share, detailed colorectal cancer drugs market segments, market trends and opportunities, and any further data you may need to thrive in the colorectal cancer drugs industry. This colorectal cancer drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The colorectal cancer drugs market consists of sales of avastin, bevacizumab, and camptosar. Values in the colorectal cancer drugs market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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