Fort Collins, Colorado, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The Targeted Therapeutics Market size was valued at USD 74.21 Billion in 2022 and is anticipated to reach USD 144.62 Billion by 2032 at a CAGR of 7.00%.
Targeted therapy is a cancer treatment that inhibits the proteins that allow the growth and division of cancer cells. These therapies are less harmful to normal cells, have improved effectiveness, and result in quality treatment. According to the World Health Organization (WHO), cancer is a major cause of death worldwide, with breast, lung, colon, rectum, and prostate cancers accounting for a major share. The International Agency for Research on Cancer (IARC) has predicted by 2030, the new cancer cases are expected to rise to 21.7 million, owing to the high presence of aging in the population.
The rapid advancement in the research & development of cancer therapies also promotes market growth. Prominent players in the market are engaging in research on different target mechanisms. The regulatory support for research and developmental activities has also increased. In addition, the regulatory approvals for oncology drugs, along with their promising clinical activity in combination with chemotherapy, have led to an increased interest of investors and governmental authorities.
The key players are substantially investing in the research and development of oncology drugs. In 2024, Ratio Therapeutics, a pharmaceutical company that provides state-of-the-art radiopharmaceuticals, secured USD 50 Million in Series B funding. This funding will expedite the company’s applications to develop the best radiopharmaceutical products.
Request Sample Report:
https://datahorizzonresearch.com/request-sample-pdf/targeted-therapeutics-market-2666
Segmentation Overview:
The global targeted therapeutics market has been segmented into type, application, distribution channel, and region. The targeted therapeutics market has been segmented based on type as monoclonal antibodies and small molecules. Monoclonal Antibodies held the largest market share in 2022. Monoclonal antibodies (MAB) are targeted drug therapies to target specific cancer cell proteins. MABs work in different types, with some targeting the growth factor receptors and blocking them, some delivering radiotherapy to the cancer cells, and some blocking the vascular endothelial growth factor from attaching to the receptors on cells.
Buy This Research Report:
https://datahorizzonresearch.com/checkout-page/targeted-therapeutics-market-2666
Targeted therapeutics Market Report Highlights:
- The global targeted therapeutics market growth is anticipated at a CAGR of 7.00% by 2032.
- The rising prevalence of cancer cases globally is a major factor promoting market growth.
- The key emerging trend in this market is the development of combinational drugs. Several clinical trials involve combinations of immunotherapy, chemotherapy, and/or other drugs.
- Europe is likely to account for a significant market share in the forthcoming years owing to the high cancer rate in this region. According to the World Cancer Research Foundation, many countries in Europe, such as Denmark, Ireland, Belgium, Hungary, The Netherlands, Norway, France, and Slovenia, have cancer rates as high as 300 cancer cases per 100,000 people. Thus, targeted therapy is widely adopted by various hospitals in this region.
- The prominent players in the targeted therapeutics market report include Amgen Inc., AstraZeneca, Agenus, Inc., Boehringer Ingelheim, Bristol-Myers Squibb (BMS), F. Hoffmann-La Roche Ltd., Pfizer, Novartis, Merck & Co., Serena Therapeutics Inc., Celdara Medical LLC, Arcus Biosciences and Takeda Pharmaceutical Co., Ltd.
Industry Trends and Insights:
- In December 2023, Daiichi Sankyo and Depixus collaborated to incorporate MAGNA technology to expedite drug discovery efforts of RNA-targeted therapeutics.
- According to an article published in The New England Journal of Medicine in November 2023, researchers affirmed the potency of combination drugs mitigated the side effects of chemotherapy and augmented the overall response four-fold.
Looking Exclusively For Region/Country Specific Report?
https://datahorizzonresearch.com/ask-for-customization/targeted-therapeutics-market-2666
OR
Ask For Discount
https://datahorizzonresearch.com/ask-for-discount/targeted-therapeutics-market-2666
Targeted therapeutics Market Segmentation:
By Type: Monoclonal antibodies, small molecule.
By Application: Breast cancer, colorectal cancer, leukemia, lung cancer, multiple sclerosis, renal cancer, and others.
By Distribution Channel: Hospital pharmacies, retail pharmacies, online pharmacies.
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
Contact:
Mail: sales@datahorizzonresearch.com
Ph: +1-970-672-0390
Website: https://datahorizzonresearch.com/
Follow Us: LinkedIn
Recent Publications
Small Bore Connectors Market 2023 to 2032
Pharmaceutical Excipients Market 2023 to 2032
CPAP Cleaner Market 2023 to 2032
In-Vivo Electroporation Instruments Market 2023 to 2032
