Cancer is a one of the leading cause of death in America and across
the globe. The only successful treatment available is chemotherapy.
However, chemotherapy drugs available in the market are unable to
differentiate between cancerous and noncancerous cells such as
intestinal epithelium. However, extensive research has given rise to
a new approach to treating the disease, known as targeted cancer
therapy. Targeted cancer therapy uses pharmacological agents that
inhibit growth, increase cell death, and restrict the spread of
cancer; however, it targets specific type of proteins that helps in
tumorigenesis. Targeted cancer drugs are therapeutically useful for
breast cancer, leukemia, lung cancer, colorectal cancer, and
lymphoma. Moreover, new technological development and recent medical
advancements have made it possible to analyze the type of cancer and
provide customized treatments to the patient.
The global targeted cancer drug market can be segmented based on drug
type, distribution channel, and region. In terms of drug type, the
market can be divided into monoclonal antibodies, small-molecules,
and immunotoxins. Monoclonal antibodies include drugs such as
Bevacizumab (humanized monoclonal antibody with a circulatory system
target (VEGF-A), Cetuximab (chimeric monoclonal antibody with a tumor
target (EGFR)) and Ipilimumab (fully human antibody with an immune
system target (CTLA-4)). Small molecules include Bortezomib (small
molecule proteasome inhibitor), Imatinib (small molecule tyrosine
kinase inhibitor) and Seliciclib (small molecule cyclin-dependent
kinase inhibitor). In terms of the distribution channel, market is
divided into drug stores, retail pharmacies, hospital pharmacy, and
online sales.
Rise in the number of newly diagnosed patients, rigorous research &
development activities, adverse side effects of conventional
chemotherapy, and a rise in public awareness toward chronic illness
are major factor driving the growth of targeted cancer drug market.
Additionally, favorable reimbursement policies available in developed
countries can boost the market growth. However, high cost of the
treatment, little to no reimbursement in developing economies,
unavailability of the treatment in Asian countries such as India, and
a shortage of skilled professionals are some factors restraining the
growth of the market.
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Opportunities available in order to make the treatment more
convenient for the patients and to dominate market includes the
introduction of robotics and automation for surgeries, more emphasis
towards painless treatment and increasing population of smokers and
drug addicts. In 2015, the National Cancer Institute stated that
nearly 221,200 Americans were diagnosed with lung cancer, and around
158,040 succumbed to the disease. Metastatic non-small cell lung
cancer (NSCLC) is the most common type of lung cancer, which occur
due to a mutation in EFGR gene. Recent FDA approval of the Pfizer’s
CD22-targeted cancer drug Besponsa (inotuzumab ozogamicin) in August,
2017, for the treatment of adults with relapsed or refractory B-cell
precursor acute lymphoblastic leukemia, and for considering targeted
therapy as a first-line treatment for patients with a type of
metastatic lung cancer in July 2015, can strengthen the growth of the
targeted cancer drug market.
Geographically, the global targeted cancer drug market is divided
into North America, Latin America, Europe, Asia-Pacific, and Middle
East & Africa. North America dominates the global market
accounting for the largest market share due to increasing incidence
of cancer. Increased demand of targeted therapies has been observed
in developed countries in Europe such as Germany and France. Recent
approvals for Afinitor and Jevtana drugs in Japan and increasing
demand for targeted cancer drugs from countries such as China, are
expected to boost the Asia Pacific market. Middle East is expected to
show moderate growth for this market over the coming years. However,
affordability and lack of technology can restrain the growth of
market in the underdeveloped regions of Africa and Latin America.
Despite these reasons the market in these regions is expected to
witness slow growth owing to the contribution from developing
countries such as Brazil and South Africa.
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F.Hoffmann-La Roche, Novartis, and Pfizer are the top three players
in the targeted cancer drugs market. Other players include Bayer,
GlaxoSmithKline, Sanofi, Amgen, Merck, and Bristol-Myers Squibb.
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