High demand for precision medicine and increasing healthcare expenditure are significant factors driving the revenue growth of the global targeted therapies market
VANCOUVER, BC, CANADA, April 28, 2022 /EINPresswire.com/ — The Global Targeted therapeutic market The size is expected to reach USD 162.89 billion and register a CAGR of 7.1% over the forecast period, according to the latest analysis from Emergen Research. The steady growth in market revenue can be attributed to the increasing prevalence of different cancers. Various chemotherapy drugs are unable to differentiate healthy cells from cancerous cells and therefore can kill both types of cells. Targeted therapy, on the other hand, is cancer treatment that uses drugs to target the exact proteins and genes that support cancer cell survival and growth. Using targeted therapies, doctors influence the tissue environment that promotes the spread of cancer or target cells associated with cancer growth, such as blood vessel cells. In addition, targeted therapies are frequently used in combination with chemotherapy and other treatments. Over the years, various targeted therapies have been sanctioned by the United States Food and Drug Administration, due to the increasing prevalence of various types of cancers.
The Global Targeted Therapies Market study is the latest report covering the impact analysis of the COVID-19 pandemic currently underway. The pandemic has directly affected the market by causing disruptions in global supply chains and indirectly by causing financial hardship. The Targeted Therapeutics Market has been witnessing dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected key segments of the Targeted Therapeutics market industry.
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The risk of cancer increases rapidly with age and it has been found that around 60% of cancer cases are diagnosed in people aged 65 or over. Given the increasing prevalence of cancer among a growing geriatric population, specialized approaches such as targeted therapies are essential for the diagnosis and treatment of geriatric patients with cancer. Many medically complex cases of metastatic renal cell carcinoma in geriatrics have shown survival benefits with targeted therapeutic treatment.
Leading companies reviewed in the Targeted Therapies Market report include:
Amgen Inc., Genentech Inc., Arcus Biosciences Inc., Gilead Sciences Inc., AstraZeneca PLC, Serina Therapeutics Inc., F. Hoffmann-La Roche & Co., Agenus Inc., Pfizer Inc. and Aurinia Pharmaceutical Inc.
The constant efforts of leading players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry in the coming years. The report studies the extensive business expansion plans and progress in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate agreements.
Some highlights of the report
In July 2021, Bicycle Therapeutics PLC, which is a biotechnology company engaged in the development of an innovative and differentiated therapeutic class based on its patented bicyclic peptide technology called Bicycle, announced the conclusion of a collaboration agreement and license with Ionis Pharmaceuticals for tissue-targeted delivery of therapeutic oligonucleotides deploying high-affinity bikes for the transferrin receptor (TfR1).
Among the therapeutic segments, revenue from the monoclonal antibody segment is expected to represent a significantly robust revenue share during the forecast period. Monoclonal antibodies delivering cytotoxic molecules are capable of precisely killing cancer cells. The antibody, after being bound to its target cell, releases a toxic molecule including a toxic chemical or radioactive substance which is taken up by the target cell and eventually destroys that cell. These toxins do not affect cells lacking the antibody target. Examples of monoclonal antibodies include trastuzumab (certain breast cancers), alemtuzumab (certain chronic leukaemias) and cetuximab (certain colorectal, head, lung and neck cancers).
Prostate cancer is the second leading cause of cancer death for men in the United States. The radiotherapy and prostatectomy currently used are often supplemented by hormonal treatments for the treatment of prostate cancer. Moreover, in cases of prostate cancer, recurrence is common and many patients develop metastatic prostate cancer where chemotherapy is moderately effective and requires targeted therapy after initial therapies.
The North America targeted therapeutics market accounted for the largest revenue share in 2020, attributed to the rapid adoption of advanced technologies, rising incidence of cancer, and high healthcare expenditures. Also, the presence of prominent players in the market such as Pfizer Inc. and Amgen Inc. is expected to support the market growth in this region.
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It exclusively offers details about the regulatory framework and development policies that have been implemented in the market over the past few years.
Emergen Research has segmented the global targeted therapy market based on therapy, disease indication, end-use, and region:
Therapeutic Outlook (Revenue, USD Billion; 2018-2028)
Small molecule inhibitors
Disease Indication Outlook (Revenue, USD Billion; 2018-2028)
End-Use Outlook (Revenue, USD Billion; 2018-2028)
Cancer treatment centers
Regional Outlook (Revenue, USD Billion; 2018-2028)
The rest of Europe
Rest of APAC
Rest of LATAM
Middle East and Africa
United Arab Emirates
Rest of MEA
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The global Targeted Therapeutics Market has been classified based on key geographical regions in North America, Asia-Pacific, Europe, Latin America, Middle East & Africa. It assesses the global Targeted Therapeutics Market’s presence in major regions with respect to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
This survey provides answers to the following important questions:
What is the expected growth rate of the Targeted Therapeutics market? What is the market size for the forecast period 2022 to 2027?
What are the main drivers of change in the direction of the industry?
Who are the major vendors dominating the Targeted Therapeutics market industry across different regions? What are their winning strategies to stay ahead of the competition?
What are the market trends for Targeted Therapies Market that business owners will be able to trust over the next few years?
What are the threats and challenges expected to limit the progress of the Targeted Therapeutics Market industry across different nations?
What are the main opportunities for employers during the forecast period of 2022 to 2027?
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About Emergen Research
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