What are the Historical Developments and Current Growth Metrics of the Targeted Therapy Market?
The targeted therapy market has seen considerable growth due to a variety of factors.
• The market size of targeted therapy has witnessed robust growth in previous years. It is anticipated to escalate from $103.84 billion in 2024 to $111.47 billion in 2025, registering a compound annual growth rate (CAGR) of 7.3%.
The historical growth can be credited to the progressive advancements in molecular biology, a surge in cancer cases, the trend towards personalized medicine, FDA approvals and the support from regulation.
What Are the Future Growth Projections for the Targeted Therapy Market?
The targeted therapy market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the targeted therapy market is forecasted to experience substantial growth, expanding to $151.48 billion by 2029 with an 8.0% compound annual growth rate (CAGR). This predicted incline during the forecast period can be ascribed to the growth in cancer research, the increasing demand for precision treatment, the emergence of immunotherapies, growing input in biopharmaceuticals, patient education and advocacy. Leading trends in the forecast period are integrating artificial intelligence (AI) into drug discovery, patient advocacy and their involvement in treatment choices, the growth of companion diagnostics, boosted regulatory support for fast-track approvals, and a surge in investment in biotech and pharmaceutical sectors.
Which Drivers Are Accelerating Growth In The Targeted Therapy Market?
The escalating occurrence of cancer is anticipated to bolster the expansion of the targeted therapy market. Cancer refers to conditions where unusual cells have the ability to infect nearby tissues and multiply without control. Targeted therapy has the ability to neutralize the signals that promote the proliferation of cancer cells or instruct the cancer cells to self-eliminate. This therapy uses medication to specifically target genes and proteins that facilitate the growth and survival of cancer cells, thus boosting its demand. For example, the American Cancer Society, a nonprofit cancer advocacy organization based in the US, reported in January 2024 that the number of cancer cases had risen to 2,001,140 from 1,958,310 in 2023, indicating a growth of 2.19%. Consequently, the rising prevalence of cancer will fuel the growth of the targeted therapy market.
What Are The Major Segments Within The Targeted Therapy Market?
The targeted therapy market covered in this report is segmented –
1) By Type: Small Molecule Medicines, Monoclonal Antibodies
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
3) By Application: Breast Cancer, Colorectal Cancer, Leukemia, Lung Cancer, Lymphoma, Renal Cancer, Other Applications
Subsegments:
1) By Small Molecule Medicines: Tyrosine Kinase Inhibitors (TKIs), Proteasome Inhibitors, Phosphatidylinositol 3-Kinase (PI3K) Inhibitors, Other Small Molecule Therapies
2) By Monoclonal Antibodies: Immune Checkpoint Inhibitors, Antibody-Drug Conjugates (ADCs), Cytokine Blockers, Other Monoclonal Antibodies
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Which Trends Are Expected To Transform The Targeted Therapy
Leading firms in the targeted therapy market are concentrating their efforts on creating innovative technological solutions to bolster their market standing. For example, Novartis AG - a multinational pharmaceutical corporation based in Switzerland, introduced Pluvicto in March 2022, earning the approval of the US Food and Drug Administration (FDA). As the first of its kind to gain FDA approval, Pluvicto is a targeted radioligand therapy (RLT) available to qualified patients with mCRPC. It merges a therapeutic radioisotope with a specific chemical. This represents a kind of targeted cancer treatment where a therapeutic radioisotope is fused with a particular chemical. Pluvicto has the ability to bind to specific cells in the bloodstream, including prostate cancer cells that produce the transmembrane protein PSMA. Once bound, the energy emissions from the radioisotope damage the target cells and other nearby cells, preventing multiplication and potentially resulting in cell death.
Who Are the Key Players in the Targeted Therapy Market?
Major companies operating in the targeted therapy market include:
• Pfizer Inc.
• Johnson & Johnson
• F. Hoffmann-La Roche Ltd
• Merck & Co Inc.
• AbbVie Inc.
• Bayer AG
• Novartis AG
• Sanofi SA
• Bristol Myers Squibb
• AstraZeneca
• GlaxoSmithKline plc
• Takeda Pharmaceutical Company Limited
• Eli Lilly and Company
• Gilead Sciences Inc.
• Amgen Inc.
• Genmab A/S
• Regeneron Pharmaceuticals Inc.
• Biogen Inc.
• Vertex Pharmaceuticals Incorporated
• Agilent Technologies Inc.
• Illumina Inc.. Incyte Corporation
• Sysmex Corporation
• Exact Sciences Corporation
• Seagen Inc.
• Exelixis Inc.
• Seattle Genetics Inc.
• Genentech Inc.
• Daiichi Sankyo Company Limited
What Is The Most Dominant Region In The Targeted Therapy Market?
North America was the largest region in the targeted therapy market in 2024. The regions covered in the targeted therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
