Targeted Therapeutics Market Size | USD 87 Billion by 2030

According to Report Study, the targeted therapeutics market size valued at US$ 67.7 bn in 2020 and is expected to reach US$ 87 billion by 2030. The targeted therapeutics market is expected to grow at a moderate compound annual growth rate (CAGR) of 2.1% over the forecast period 2021 to 2030.

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.

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Key Drivers

• Increase in the number of product approvals for the treatment of different types of cancer, along with robust pipeline products in early and late phases of clinical trials is expected to augment the global targeted therapeutics market during the forecast period
• For instance, in March 2020, Sanofi’s Sarclisa was approved in combination with pomalidomide and dexamethasone in the U.S. for the treatment of adults with relapsed refractory multiple myeloma (RRMM) who have received at least two prior therapies, including lenalidomide and a proteasome inhibitor, and by the European Commission in June 2020. Sarclisa has presently been launched in the U.S., Austria, Japan, Switzerland, Canada, and the U.K.
• Novartis’s Kisqali (ribociclib) data demonstrates consistent efficacy benefit with Kisqali plus endocrine therapy across the primary intrinsic subtypes of hormone receptor positive, human epidermal growth factor receptor-2 negative (HR+/HER2-) metastatic breast cancer
• Rise in demand for the treatment leads to expansion of product pipeline and increase in product approvals, which in turn drives the global targeted therapeutics market

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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 19.3 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.

Scope of The Report

High Cost of Treatment to Hamper Global Market

• Targeted therapies that aim at specific genetic biomarkers have been widely adopted in the treatment of several cancer types
• Tyrosine kinase inhibitors have become standard first-line therapy for patients with advanced NSCLC harboring EGFR mutations or ALK-gene rearrangements; however, these are expensive medications, costing thousands of dollars per month
• In 2019, J&J mentioned in an article that Janssen’s Balversa (erdafitinib) was the first FGFR inhibitor approved by the FDA. This drug costs around US$ 10,080 to US$ 22,680 for a 28-day supply.
• Hence, high cost of targeted therapy is likely to hamper the growth of the global targeted therapeutics market during the forecast period

Regional Scope

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 2030. 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.

Competitive Landscape and Market Share Analysis

The targeted therapies market competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, targeted therapies sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. For the period 2017-2020, this study provides the targeted therapies sales, revenue and market share for each player covered in this report.

• Crucial data regarding the major contenders, product portfolio, market remuneration, and production patterns are documented in the report.
• The report presents the pricing models followed by each company, alongside the gross margins and market share held by each company.

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.

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
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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