Colorectal Cancer Therapeutics Market Growth Driven by Rising Prevalence and Advancements in Treatment

“The colorectal cancer therapeutics market is growing due to increased prevalence, advancements in treatment options, and greater public awareness.”

AUSTIN, TX, UNITED STATES, December 12, 2024 /EINPresswire.com/ --
The Colorectal Cancer Therapeutics Market was valued at USD 12.7 Billion in 2023 and is projected to reach USD 22.0 Billion by 2032, growing at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2032.

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Key Players Listed in Colorectal Cancer Therapeutics Market Are:

•Merck & Co., Inc.
•Hoffmann-La Roche Ltd.
•Bristol-Myers Squibb Company
•Amgen, Inc.
•Bayer AG
•Sanofi
•Genentech, Inc.
•Eli Lilly and Company
•Pfizer Inc.
•Teva Pharmaceutical Industries Ltd.
•Taiho Pharmaceutical (Otsuka Pharmaceutical Co., Ltd.)
•Regeneron Pharmaceuticals, Inc.
•Novartis AG
•Ipsen Biopharmaceuticals, Inc.

Expanding Colorectal Cancer Therapeutics Market Driven by Rising Prevalence, Advancements in Treatment, and Increased Awareness

The colorectal cancer therapeutics market is expanding due to factors such as the rising prevalence of the disease and advancements in diagnostics and treatment options. CRC represented approximately 10% of global cancer cases and 9.4% of cancer deaths in 2020, making it the second deadliest cancer worldwide. With the lifetime risk of CRC being significant, ongoing improvements in diagnostic technologies, such as the FoundationOne Liquid CDx test approved in 2023, are contributing to better patient outcomes. Treatments like Avastin and Erbitux remain effective, helping reduce mortality rates.

The growing demand for colorectal cancer treatments is also driven by the expiration of patents for major biologics, such as Avastin, and the availability of cost-effective biosimilars like Mvasi. These developments create competition in the market, leading to more affordable treatment options. Additionally, increasing public awareness and government initiatives for early detection are supporting market growth, creating more opportunities for key industry players to innovate and expand their reach.

Growing Awareness and Demand for Advanced Treatments Fuel Expansion of the Colorectal Cancer Therapeutics Market

The rising awareness of colorectal cancer (CRC) and the growing demand for advanced treatments are fueling the expansion of the CRC therapeutics market. As global awareness of CRC increases, there is a heightened focus on early detection and the need for effective treatment options. The high mortality rate associated with CRC, along with the demand for more personalized and targeted therapies, is accelerating the search for innovative solutions. Advances in immunotherapy and targeted treatments have significantly improved patient outcomes, leading to a greater preference for these therapies. The continuous rise in CRC incidence further emphasizes the urgent need for advanced therapeutics, driving market growth and stimulating investment in research and development.

By Drug Class, Immunotherapy Leading the Colorectal Cancer Therapeutics Market with Strong Growth Prospects

Immunotherapy dominated the colorectal cancer therapeutics market in 2023, accounting for 83.0% of total revenue, and is expected to experience the highest compound annual growth rate (CAGR) of 5.3% during the forecast period. This dominance is driven by immunotherapy's ability to target and enhance the body's immune system to effectively fight cancer cells, offering significant advantages over traditional treatments. Advances in personalized therapies, particularly immune checkpoint inhibitors, have shown promising results, leading to better patient outcomes and fewer side effects. The increasing approval of innovative immunotherapies and rising demand for personalized treatments are fueling this robust market growth.

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Key Market Segmentation:

By Drug Class

•Immunotherapy
•Chemotherapy
•Others

North America Leads Colorectal Cancer Drugs Market, While Asia Pacific Shows Strong Growth Potential

In 2023, North America held the largest share of the colorectal cancer drugs market, accounting for 42.6% of total revenue. The region's stable market growth is driven by a high incidence of CRC, increased treatment rates, and elevated drug prices compared to other regions. Additionally, lifestyle factors, such as rising alcohol consumption linked to higher CRC incidence further contribute to this trend. According to the International Agency for Research on Cancer (IARC), about 60% of adults consumed alcohol in 2021, increasing CRC risk.

Meanwhile, Asia Pacific is expected to experience the highest compound annual growth rate (CAGR) of 6.7% during the forecast period. This growth is attributed to the increasing aging population and heightened efforts by both public and private organizations to raise CRC awareness. For instance, pilot screening programs launched in China, as reported by the National Library of Medicine in April 2022, are expected to improve early detection and disease management.

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Key Developments in the Colorectal Cancer Drugs Market

•April 2024: Taiho Pharmaceutical's Phase III trial of LONSURF (trifluridine/tipiracil) showed improved overall survival in metastatic colorectal cancer patients compared to standard therapies.

•March 2024: Roche's clinical studies combining Cotellic (cobimetinib) with immunotherapy showed encouraging results for advanced colorectal cancer patients.

•February 2024: Regeneron Pharmaceuticals began a trial on the combination of Libtayo (cemiplimab) and chemotherapy for treating microsatellite instability-high (MSI-H) colorectal cancer.

Table of Content

1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Colorectal Cancer Therapeutics Market Segmentation, By Drug Class
8. Regional Analysis
9. Company Profile
10. Use Cases and Best Practices
11. Conclusion

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