Colorectal Cancer Treatment Market is Expected to Reach $19.54 bn by 2027
The Colorectal Cancer Treatment Market was valued at US$ 12.98 billion in the year 2019 and is estimated to reach US$ 19.54 billion by 2027, at a CAGR of 5.25 %.
Colorectal cancer is a tumour that affects the large intestine, anywhere in the colon or in the rectum. Colorectal cancer initially originates as an adenomatous polyp or hyperplastic polyps and inflammatory polyps, later developing into cancer. It is the 2nd most common type of cancer occurring in women and 3rd most common in men. It is estimated that by the year 2030, the number of individuals diagnosed with colorectal cancer will cross 2 million. Colorectal cancers are of many types, of which adenocarcinoma cases is reported to be around 95-97%, while rest of the types such as carcinoid tumours, gastrointestinal stromal tumours and sarcomas make up around 3-5%. The symptoms associated with colorectal cancer are similar to other common disorders. However, the persistence of symptoms should be assessed for the development of the carcinoma. There are several reasons for colorectal cancer which includes but not limited to gender, bowel irritation, and exposure to chemicals, and genetic mutation, etc. Treatment modes involve surgical removal of the tumour and the infected part, immunotherapy, chemotherapy, radiation therapy, ablation therapy, etc. Of which immunotherapy segment holds the major share of the treatment market with more than 55% that includes monoclonal antibodies, colony-stimulating factors, tumour vaccines, etc. As immunotherapy have lesser side effects, non-specific action and less development of resistance. It is preferred over conventional chemotherapy procedures.
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With the US having more incidences of colorectal cancer cases (1 in 21 men & 1 in 23 women), the North American region dominated the market in 2018 with more than 45% of the share and is expected to retain the dominance throughout the forecast period followed by Japan and then the other European regions. Products such as Vectibix, zaltrap and avastin, expected to lose the exclusivity of the patents, development of Biosimilars are expected. Allergan’s Mvasi, a Biosimilar to Avastin is already approved in Europe and the US. Further, several other biosimilars are in development and are likely to affect the sales of branded drugs.
The key drivers of the market increase in geriatric population, increasing awareness, Government initiatives, cost of the drugs; favourable reimbursement policies, etc. are anticipated to aid the market growth during the forecast period. Lifestyle modifications, more alcohol consumption, smoking and improper nutrition can increase the risk of colorectal cancer. This is expected to contribute to market growth. But, diagnosis and grading of colorectal cancer is still a challenge amongst the medical fraternity. Further, there is a lack of major therapeutics to treat early-stage colon cancer as there is a high risk of recurrence.
This study provides the latest insights on the industry trends, products & pipeline along with country, regional and global revenue forecast till the year 2027. The analysis of the market is segmented into Treatment Type (Chemotherapy, Immunotherapy, and Targeted Therapy) and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
The major players in the market include Abbvie Inc, Abbott Laboratories, Amgen Inc, Astrazeneca plc, Bayer, Bristol-Myers Squibb, Eli Lilly and Co., F Hoffman-La Roche Ltd., GlaxoSmithKline, Johnson & Johnson, Merck & Co. Inc., Novartis AG, Pfizer, Sanofi S.A., Takeda Pharmaceuticals and many more…
• Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
• Provides a Comparative Analysis of Key Marketed and Pipeline Products.
• Provides Key Information on Players involved.
• Provides a Complete Overview of Market Segments and the Regional Outlook.
• Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Colorectal Cancer Treatment Market, 2015 to 2018
- Forecast of the Colorectal Cancer Treatment Market Growth till the year 2027
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Colorectal Cancer Treatment Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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