According to latest research report, The global Targeted Therapeutics market reached a value of US$ 67.9 Billion in 2020,The market is further expected to reach a value of US$ 80 Billion by 2027, exhibiting a CAGR of 1.6% during 2021-2027.
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.
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.
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|Market Size||USD 80 Billion by 2027|
|Growth Rate||CAGR of 1.6% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Type, Application, Distribution Channel and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Amgen, Inc., F. Hoffmann-La Roche Ltd., AstraZeneca, Bristol-Myers Squibb Company, Bayer AG, Merck & Co., Inc., Novartis AG, and Pfizer, Inc. In|
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.
According to the International Agency for Research on Cancer (IARC), an estimated 19.1 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 27.0 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.
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 2027. 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.
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Targeted Therapeutics market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Significant Market Participants Operational in the Targeted Therapeutics Market are: Amgen, Inc., F. Hoffmann-La Roche Ltd., AstraZeneca, Bristol-Myers Squibb Company, Bayer AG, Merck & Co., Inc., Novartis AG, and Pfizer, Inc. In
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
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
- Monoclonal Antibodies
- Targeted Therapeutics Market, by Application
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- 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
– North America Region (U.S., Canada, Mexico)
– Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
– Asia-Pacific Region (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
– South America Region (Brazil, Argentina, Columbia, Rest of South America)
– The Middle East & Africa Region (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
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Despite unprecedented implications of the COVID-19 outbreak, the market will gain impetus amidst soaring investment towards sophistication of the healthcare sector. The market survey offers compelling insights into key factors enabling growth through the assessment period. It underscores hidden opportunities across diverse segments. Besides uncovering hidden opportunities, the report presents exclusive insights into challenges posing threat to growth. Alongside this, it offers recommendations to navigate through unforeseen hindrances in the future, while keeping the business afloat.
Scope of the Study
This Targeted Therapeutics market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
Final Report will add the analysis of the impact of COVID-19 on this industry.
Important years considered for this report:
Historical Years: 2017-2019
Base Year: 2020
Forecast Period: 2021-2027
Key Points Covered in Targeted Therapeutics Market Survey
- Demand will remain high in the U.S., backed by favourable reimbursement policies and presence of some of the leading market players.
- Europe will continue showcasing high demand. Sales will remain high, especially in the U.K., Germany, France, and other countries.
- China and India will exhibit high demand for Targeted Therapeutics, backed by expanding healthcare sector.
- Focus on research and development will increase in Brazil, creating opportunities for the expansion of the Targeted Therapeutics market.
- Hospitals are expected to showcase higher demand for Targeted Therapeutics on account of greater access to advanced technologies and higher footfall of patients.
- Driven by the presence of some of the leading pharmaceutical producers, demand in the Japan Targeted Therapeutics market will continue increasing at a high pace.
Some of the key highlights covered in the report include:
- Targeted Therapeutics Market Demand-Supply Analysis -The report covers detailed insights into demand and supply forces prevailing in the global Targeted Therapeutics market. It examines trends and factors influencing demand for Targeted Therapeutics globally and gauges the impact of the same on the production.
- Targeted Therapeutics Pricing Analysis – The report presents exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
- Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
- Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for Targeted Therapeutics across the world.
- Competitive Analysis – Some of the leading market players are profiled in the report on Targeted Therapeutics. The report offers estimation of share individually helps by the market players and determines the impact of some of their popular strategies.
- COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.
- Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.
Why should you invest in this report?
If you are aiming to enter the global Targeted Therapeutics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Targeted Therapeutics are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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