Colorectal Cancer Therapeutics Market Size, Share & Industry Analysis, By Therapy (Targeted Therapy, Immunotherapy, Chemotherapy, Others), By Cancer Type (Colorectal Adenocarcinoma, Gastrointestinal Carcinoid Tumors, Others), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019-2032

The global colorectal cancer therapeutics market size stood at USD 9.26 billion in 2018 and is projected to reach USD 26.49 billion by 2032, exhibiting a CAGR of 7.8% during the forecast period. North America dominated the global market with a share of 44.6% in 2018.

In this era, the prevalence of critical and life-threatening diseases has been increasing across the global landscape. One of these critical diseases includes colorectal cancer, which have shown steady rise in prevalence worldwide, especially due to its status as one of the most commonly occurring cancers. The colorectal cancer includes two major forms of the disease: colorectal adenocarcinoma, and gastrointestinal carcinoid tumors. According to the American Cancer Society (ACS), in the U.S. in 2019, 101,420 new cases of colon cancer and 44,180 new cases of rectal cancer, were registered.

In the current global colorectal cancer therapeutics market trends, there are a number of factors providing major impetus to the growth of these drugs. There is an increase in awareness with respect to the serious impacts of colorectal cancer on human health, which can lead to the metastasis of the cancer to the other parts of the body. Increasing sophistication in diagnostic methods may lead to a significant proportion of the global population being diagnosed with colorectal cancer.

Individuals at risk of developing colorectal cancer are more likely to affect from obesity, poor nutrition, and engage in lifestyle choices such as heavy alcohol consumption, and smoking habits. Improved understanding of colorectal cancers and its symptoms, increasing research and development of novel therapeutics, and greater awareness have contributed substantially to the global market revenue.

MARKET DRIVERS

“Increased Awareness and Innovation of New Drugs is likely to propel Global Market”

The global colorectal cancer medications market drivers include the increased awareness regarding colorectal cancer and the corresponding rise in product launches. Effective colorectal cancer treatment through therapeutics includes a multi-faceted approach, which may lead to the usage of combination treatment comprising of a number of medications. A number of key market leaders have introduced several advanced drugs addressing the diverse treatment needs of colorectal cancer. For instance, introduction of newer initiatives aimed at the effective care of colorectal cancer patients is also anticipated to contribute to the global growth. In April 2019, Dana-Farber, an eminent cancer treatment and research institution in the U.S. announced the launch of the Young-Onset Colorectal Cancer Center.

“Increasing Need for Advanced and Effective Drugs to Drive Global Market Worldwide”

Other critical driving factors are the high prevalence of colorectal cancer, its contribution to high mortality rates and the increasing demand for more effective therapeutics worldwide. Colorectal cancer medications have undergone major R&D innovations since the time they were initially introduced to the general public. A number of novel therapeutics have been launched since then and has witnessed positive success rates. The global market may be considered to be overcrowded in some aspects due to the presence of several major players and increasing influences of the comparatively cheaper generics especially in chemotherapy. But, the serious nature of colorectal cancer requires the need for cutting edge therapeutics and the rising prevalence is further demanding better treatment outlook for patients. This has led to the development of a huge unmet treatment need in the market and is anticipated to be one of the other key driving factors in the global colorectal cancer drugs market.

SEGMENTATION

By Therapy Outlook

“Targeted Therapy Segment is Likely to Generate Highest Growth Rate During Forecast Period”

On the basis of therapy, the global market can be segmented into targeted therapy, immunotherapy, chemotherapy, and others.

Among these, the targeted therapy segment is estimated to hold a dominant share in the global colorectal cancer drugs market. This is especially due to their status as effective and sophisticated therapeutics and the critical life-preserving functions that targeted therapy performs. This segment is anticipated to account for the highest market share due to the large presence of a number of prominent targeted therapies such as Avastin, Erbitux, and Stivarga.

Some of the other segments that have contributed to the steady growth of the global market are the immunotherapy, and chemotherapy. These drugs are some of the widely consumed medications globally, but the presence of generic versions of these medications have limited the growth potential of these segments. The immunotherapy segment has the second largest market share, after the chemotherapy segment.

By Cancer Type Outlook

“Colorectal Adenocarcinoma is Anticipated to Exhibit Significant CAGR During Forecast Period”

On the basis of cancer type, the global market can be segmented into colorectal adenocarcinoma, gastrointestinal carcinoid tumors, and others. In terms of cancer type, the colorectal adenocarcinoma segment is anticipated to grow at a faster CAGR. This is primarily because out of the total colorectal cancer cases, colorectal adenocarcinoma accounts for a large proportion of patients suffering across the world. Other factors contributing to the growth of the colorectal adenocarcinoma segment are its high market value in terms of treatment, and presence of a rarer form of colorectal adenocarcinoma requiring aggressive treatment.

Due to the increasing prevalence of rarer forms of colorectal cancer such as gastrointestinal carcinoid tumors, there is a greater uptake of sophisticated medications due to advanced diagnostics. For instance, gastrointestinal carcinoid tumors account for almost half the cases of colorectal cancer occurring in the small intestine. Trends like these have contributed to the colorectal cancer therapeutics market growth.

By Distribution Channel Outlook

“Hospital Pharmacies Segment is Expected to hold Highest Share Among Distribution Channels”

On the basis of distribution channel, the global colorectal cancer drugs market can be segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. The hospital pharmacies segment is anticipated to have the dominant share because these medications are often prescribed after a thorough diagnosis which is often conducted at these institutions. Also, the medications can only be administered intravenously by experienced medical professionals at these locations.

Retail pharmacies segment is anticipated to hold the second largest share. Because of instances of re-filling of prescriptions, these institutions are able to provide more efficient facilities. Online pharmacies segment is anticipated to experience the highest CAGR due to the increasing usage of online pharmacy facilities, which are gaining popularity due to their ease and convenience.

REGIONAL ANALYSIS

North America generated a revenue of USD 4.13 billion in 2018 and is anticipated to emerge dominant in the global market during the forecast period. The high prevalence of colorectal cancer, coupled with the new product launches across the region, will drive the market growth in the region. Besides this, the increasing research and development initiatives, coupled with increasing awareness and high adoption of preventive and advanced colorectal diagnostics in the general population, are expected to drive the market in North America during the forecast period.

Asia Pacific is expected to witness the highest growth in the market value. Due to the increasing disposable incomes across the region, there is a greater awareness with respect to colorectal cancer. Increasing prevalence of colorectal cancer from the key countries in the region and the increasing status of colorectal diseases as the leading cause of mortality is also anticipated to drive the colorectal cancer drugs market growth across the region.

On the other hand, Europe is projected to witness significant growth in the market because of the significant presence of individuals suffering from colorectal cancer. The high growth countries, including the U.K., France, and Spain would contribute to the growth of the European market. The Latin America market for colorectal cancer treatment is anticipated to undergo a steady growth due to the increasing prevalence and awareness of colorectal cancer. The Middle East and Africa is expected to witness limited growth in the current scenario as compared to other regions, but is anticipated to register a higher growth in the future period.

INDUSTRY KEY PLAYERS 

“Market Players like Genentech, Inc., Merck Sharp & Dohme Corp., and Bristol Myers Squibb to Strengthen Market Position”

The global colorectal cancer therapeutics market is dominated by some key companies such as Genentech, Inc., Bristol Myers Squibb, and Merck due to their strong oncology product portfolio, robust pipeline candidates, and key strategic decisions. These include a group of 5-6 key companies with wider geographic presence and continued R&D resulting in strong regulatory approvals. In the same instance, a number of other companies are also present in the market. The global market has a strong scope of growth, has a heavy presence of generics especially for chemotherapy, and is subject to a number of biosimilars launches.

List Of Key Companies Profiled:

• Genentech, Inc.


• Eli Lilly and Company


• Pfizer Inc.


• Teva Pharmaceutical Industries Ltd.


• Bristol Myers Squibb


• Sanofi


• Merck Sharp & Dohme Corp.


• Taiho Pharmaceutical (Otsuka Pharmaceutical Co., Ltd.)


• Bayer AG


• Regeneron Pharmaceuticals, Inc.


• Novartis AG


• Ipsen Biopharmaceuticals, Inc.

KEY INDUSTRY DEVELOPMENTS:

• June 2021 - Bristol Myers Squibb announced the approval of Opdivo plus Yervoy from the European Commission (EC) to treat adult patients with microsatellite instability-high (MSI-H) metastatic colorectal cancer (mCRC). It has received marketing authorization to be used in all EU member states and Norway, Iceland, and Liechtenstein.


• July 2020 - Taiho Pharmaceutical Co., Ltd. launched its anticancer agent LONSURF to treat patients in China with Colorectal Cancer. The company anticipates that Lonsurf would make a more significant contribution to patients and medical institutions as a medication option for patients with colorectal cancer.


• September 2020 - Boehringer Ingelheim and Mirati Therapeutics, Inc. announced a clinical collaboration to study the novel combination blocking KRAS G12C and its activator SOS1 to provide more efficient and durable responses to bring more therapeutic options to patients with lung and colorectal cancers.


• June 2020 - The U.S. Food and Drug Administration (FDA) announced the granting of Keytruda for intravenous injection to treat patients with mismatch repair deficient (dMMR) colorectal cancer. It is the first-line Immunotherapy for patients and is administered to patients without also giving chemotherapy.

REPORT COVERAGE

The high prevalence of colorectal cancer, strong and advanced product launches, and robust pipeline candidates is expected to increase the global colorectal cancer medications market growth. 

Along with this, the report provides an extensive analysis of the global market dynamics and competitive landscape and scenario. Various key insights presented in the report are the prevalence of colorectal cancer - by key countries, 2018, pipeline analysis, key industry developments, new product launches, the regulatory scenario in key countries, and increasing R&D initiatives in colorectal cancer diagnostics. Moreover, other key insights include key strategies adopted by market leaders, competitive landscape, and company profiles.

Report Scope & Segmentation