Targeted Therapeutics Market Size to Reach USD 162.89 Billion in 2028 Growing at a CAGR of 7.1%, According to Latest Analysis by Emergen Research
Emergen Research has published its latest report titled “Targeted Therapeutics Market, By Therapy (Monoclonal Antibodies, Small Molecule Inhibitors), By Disease Indication, By End-use, and By Region Forecast to 2028”
According to Emergen Research, the global targeted therapeutics market size was USD 93.75 Billion in 2020 and is expected to reach USD 162.89 Billion in 2028 and register a revenue CAGR of 7.1% during the forecast period, 2021-2028.
Targeted therapy involves cancer treatment procedures in which medications are used to target specific proteins and genes important in cancer cell survival and growth. Targeted therapy can alter the tissue environment that aids a cancer's growth and survival, or it might target cancer-related cells such as blood vessel cells. There are numerous types of targeted therapy including small-molecule drugs and monoclonal antibodies. Clinical trials are being used to examine various new targets and medications in the field of targeted therapy for cancer treatment procedures. Increasing incidences of cancer and rising investments on clinical trials for effective cancer treatment are major factors expected to boost market revenue growth over the forecast period.
In addition, recent advances in genetics, increasing adoption of monoclonal antibody (mAb), rising insurance coverage regarding cancer therapies and increasing government emphasis on drug development procedures are other factors drive revenue market growth over the forecast period. However, high cost of molecular diagnostic tests, and side effects of targeted therapy are factors that can restrain market growth to a certain extent during the forecast period. Targeted therapy side effects include rashes or dry or flaking skin, fatigue, diarrhea or digestive problems, impaired blood clotting, and high blood pressure.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Monoclonal Antibodies Segment Revenue to Expand at a Rapid CAGR:
Monoclonal antibodies segment is expected to register a rapid revenue CAGR over the forecast period attributed to increasing research and development activities in genomics, rising private and government investments in technologically advanced genetic platforms, high demand for biologics and growing awareness amongst physicians regarding the applications of mAb therapy globally.
Lung Cancer Segment to Register Significant Revenue Growth:
Lung cancer segment is expected to register significant revenue growth over the forecast period owing to increasing cigarette smoking, especially among youngsters and rising air pollution globally. According to World Health Organization (WHO), Cancer is the largest cause of death globally, with approximately 10 million deaths in 2020. The most common in 2020 were breast (2.26 million cases); lung (2.21 million cases); and prostate (1.41 million cases).
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to developed healthcare infrastructure, increasing number of patients suffering from cancer and rising geriatric population. In addition, presence of numerous biopharmaceutical companies coupled with increasing demand for the biologic drugs are some factors expected to contribute to market growth in the region.
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Major Companies in the Market Include:
- Amgen Inc.
- Genentech Inc.
- Arcus Biosciences Inc.
- Gilead Sciences Inc.
- AstraZeneca PLC
- Serina Therapeutics Inc.
- F. Hoffmann-La Roche & Co.
- Agenus Inc.
- Pfizer Inc.
- Aurinia Pharmaceutical Inc.
For the purpose of this report, Emergen Research has segmented the global targeted therapeutics market on the basis of therapy, disease indication, end-use, and region:
Therapy Outlook (Revenue, USD Billion; 2018–2028)
- Monoclonal Antibodies
- Small Molecule Inhibitors
Disease Indication Outlook (Revenue, USD Billion; 2018–2028)
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Multiple Sclerosis
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Cancer Treatment Centers
- Research Institutes
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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About Emergen Research
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