Global Personalized Cancer Drugs Market Size and Growth Analysis
Genetic sequencing has proven that no two cancer cases are absolutely identical, heavily depending on genetic profiles of the patients, which defines their immunity power. But frequently, several promising pipeline drugs fail to reach the market for not being commonly useful for the masses. In this scenario, a small but increasing number of personalized cancer drugs are allowed by the FDA for the treatment of particular mutations. Nearly one third of cancer drugs are prescribed off-label, as it provides help to the patients immediately. These targeted agents are directed at specific molecular feature of the cancer cells and hence produce greater effectiveness with significantly less toxicity.
The global market for personalized cancer drugs market is gaining traction from increased government support for precision-medicine. For example, in June 2016, the U.S. National Cancer Institutes revealed its plans to enroll thousand patients in a trial called NCI-MATCH, which is aimed at matching patients to twenty possible compounds on the basis of their genetic abnormalities. Along the similar lines, The American Society of Clinical Oncology has also announced a registry termed as TAPUR, collecting data on the fate of patients who receive personalized cancer drugs off-label.
Another factor driving the global personalized cancer drugs market is the falling cost of genetic sequencing, which is enabling the quick approval of drugs for off-label clinical trials on patients in need across the world.
Get Brochure of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=118
Personalized Cancer Drugs Market: Overview
Personalized drugs, or customized drugs, are tailored to suit the needs of individual patients. Earlier, various patients suffering from the same type of disease were given the similar treatment plan. However, it became evident to physicians that a particular treatment worked differently for different patients, mainly owing to a varied genetic makeup. The concept of personalized medicine is based on the analysis of etiology of disease in individual patients and offers treatment that is more efficient, predictable, and precise.
Cancer is a common chronic disease and a major cause of fatality around the globe. The development of personalized cancer drugs has gained pace as they have relatively fewer side effects compared to standard drugs. Personalized cancer drugs target a specific protein or gene responsible for the growth and survival of a cancer type.
Personalized Cancer Drugs Market: Trends and Opportunities
The personalized cancer drugs market is primarily fueled by the rising prevalence of various cancer types such as lung cancer, breast cancer, prostate cancer, melanoma and leukemia, and colorectal cancer. According to the Surveillance, Epidemiology, and End Results Program sponsored by the National Cancer Institute (NCI), an estimated 13,397,159 people in the United States were affected with various cancer types in 2011. Moreover, in 2014, around 1,666,540 new cancer cases were diagnosed in the country, with nearly 585,720 deaths resulting from cancer. The personalized cancer drugs market is also driven by several advantages associated with this new treatment therapy and ongoing developments in the field of genetic science.
On the flip side, high cost associated with the genetic testing of patients and tumor samples may serve as a growth restraint on the market for personalized cancer drugs. In addition to this, the lack of insurance plans to cover these tests in developing nations of Asia Pacific and Rest of the World hampers the market to some extent. This can be attributed to low per capita income and poor reimbursement scenario.
Get Table of Content of the Report @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=118
Personalized Cancer Drugs Market: Geographical Assessment
From a geographical perspective, the personalized cancer drugs market has been broadly segmented into Europe, Asia Pacific, North America, and Rest of the World (RoW). The market for personalized cancer drugs is led by North America. The chief factors responsible for the region’s lead position are aggressive research and development activities, technical advancements, higher affordability for expensive treatments and therapies, and greater healthcare awareness. Europe is also a key market for personalized cancer drugs owing to significant funding from several governments and the growing penetration by U.S.-based companies.
Asia Pacific holds immense promise for players in the personalized cancer drugs market, powered mainly by Japan. The regional market is likely to be fueled by the presence of a large pool of cancer patients and improving healthcare infrastructure. The growth of the APAC personalized cancer market can also be attributed to the rapidly evolving medical tourism industry. In the RoW segment, Mexico, Brazil, Russia, and South Africa represent potential markets.
Get Discount on the Latest Report @ https://www.tmrresearch.com/sample/sample?flag=D&rep_id=118
Personalized Cancer Drugs Market: Competitive Landscape
Some of the key players competing in the personalized cancer drugs market are F. Hoffmann-La Roche Ltd., Pfizer Ltd., Cell Therapeutics, Inc., H3 Biomedicine, Inc., bioTheranostics, GlaxoSmithKline, and Abbott Laboratories. Zelboraf (vemurafenib) by F. Hoffmann-La Roche Ltd. and Xalkori (crizotinib) by Pfizer Ltd. are some notable targeted drugs for the treatment of cancer.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
- Current and Future Threats
- Accurate Trend Analysis
- Regional Assessment
- Industrial Analogy
- COVID-19 Impact
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
About TMR Research
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
Contact:
Rohit Bhisey
TMR Research,
3739 Balboa St # 1097,
San Francisco, CA 94121
United States
Tel: +1-415-520-1050
Visit Site: https://www.tmrresearch.com/