Targeted Therapeutics Market: Introduction
According to the report, the global targeted therapeutics market was valued over US$ 67.8 Bn in 2020 and is projected to expand at a moderate CAGR during the forecast period. 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. The global targeted therapeutics market is driven by rise in prevalence of cancer across the globe, increase in global geriatric population, and surge in product approvals.
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North America dominated the global targeted therapeutics market in 2020, followed by Europe, and the trend is anticipated to continue during the forecast period. North America’s dominance can be ascribed to high prevalence and increase in incidence rates of cancer, well-established healthcare industry, and rise in adoption of targeted therapeutics monoclonal antibodies in the region.
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.
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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.
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Targeted Therapeutics Market: Prominent Regions
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 2031. 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.
Strategic Acquisition and Collaborations by Key Players to Fuel Global Market
The global targeted therapeutics market is consolidated in terms of number of players. The market is dominated by key players with strong geographic presence. 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. 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.
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In October 2020, Bristol-Myers Squibb and MyoKardia, Inc. announced a definitive merger agreement, under which Bristol-Myers Squibb will acquire MyoKardia for US$ 13.1 Bn, or US$ 225.00 per share in cash. The transaction was unanimously approved by the Boards of Directors of Bristol-Myers Squibb and MyoKardia and is anticipated to close during the fourth quarter of 2020. MyoKardia is a clinical-stage biopharmaceutical company discovering and developing targeted therapies for the treatment of serious cardiovascular diseases.
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
- 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
- S.
- Canada
- Europe
- 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
- Monoclonal Antibodies
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Bharat Book Bureau Provides the Trending Market Research Report on “Targeted Therapeutics Market - Global Outlook and Forecast 2021-2026” under Life Sciences Market Research Reports Category.
The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.The scope of this study entails the Global Targeted Therapeutics Market.
The report covers the entire market for targeted therapeutics, which incorporates two main types, small molecules and monoclonal antibodies.
Based on application, targeted therapeutics is divided into lung cancer, breast cancer, blood cancer, colorectal cancer and others.By geography, the market has been divided into four regions: North America, Europe, Asia-Pacific and the Rest of the World.
Detailed analyses of major countries: the U.S., Canada, Germany, the U.K., France, Spain, Italy, Japan, China and India are covered.
For market estimates, data has been provided for the year 2020 as the base year, with forecasts for 2021-2026.
Roots Analysis has done a detailed study on Endocannabinoid System Targeted Therapeutics Market, 2020-2030“ covering key aspects of the industry’s evolution and identifying potential future growth opportunities.
To order this 250+ page report, which features 140+ figures and 170+ tables, please visit this link Key Market InsightsMore than 65 industry players across the world are presently engaged in evaluating the clinical applications of over180 cannabinoid-derivatives that target the human endocannabinoid signaling systemThe pipeline features a variety of marketed / clinical stage therapies, being investigated for a wide range of target disease indications and designed for administration via different routesThe geographical landscape of this industry is likely to evolve in the next few years as federal authorities legalize the use of medical cannabis across multiple countriesDespite the associated stigma, many organizations have extended financial support to aid research efforts in this domain; the focus is on understanding the clinical benefits of endocannabinoid signaling in different diseasesThe growing interest in this field is also reflected by the 170+ partnerships that have been signed in the last five years, involving both international and indigenous stakeholders, across different geographical marketplacesPresently, North American companies seem to be consolidating their presence indigenously, mostly through strategic acquisitions; key value drivers behind such deals include product and geographical expansionFuture market size, based on revenue generation potential of marketed and late stage therapies, is anticipated to be distributed across a variety of therapeutic areas, target receptors and key geographical regions For more information, please visit “Endocannabinoid System Targeted Therapeutics Market, 2020-2030.“ Table of Contents PREFACE1.1.
Prominent Program Officers: Analysis by Number of Grants6.3.15.
Global Endocannabinoid Targeted Therapeutics Market, 2020-203010.4.
Global Endocannabinoid System Targeted Therapeutics Market for Genetic Disorders, 2020-203010.7.3.
Interview Transcript: Steeve Néron, Chief Operating Officer 12.5 Vireo Health 12.5.1.
