Severe and life-threatening diseases are becoming more prevalent in today's world. Colorectal cancer is one of these serious diseases, with persistent growth in prevalence globally. According to the World Health Organization (WHO), an increase of about 70% in colorectal cancer cases globally is expected by 2030
Data Bridge Market Research analyses a growth rate in the Colorectal Cancer Treatment Market in the forecast period 2023-2030. The expected CAGR of colorectal cancer treatment market is tend to be around 4% in the mentioned forecast period. The market is valued at USD 19 billion in 2022, and it would grow upto USD 26 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Colorectal cancer treatment involves a varied number of drugs that are responsible for the treatment of colorectal cancer. Colorectal cancer primarily affects the older adults however it can affect any age groups. Signs and symptoms related with the colorectal cancer are weight loss, weakness, abdominal discomfort, fatigue, pain, persistent change in the bowel habits including diarrhea and constipation, cramps, rectal bleeding, blood in the stools and others.
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Colorectal Cancer Treatment Market Dynamics
Drivers
- Increasing Prevalence of Cancer
As per American Cancer Society, men tend to have a 1 in 23 lifetime risk of having colorectal cancer, whereas women have a 1 in 25. Women are at a moderately lower risk than men. Colorectal cancer is the third most frequent cancer in men and the second most common cancer in women. More than 1.8 million new cases were witnessed in 2018. People surviving with localized stage colorectal cancer tend to have a 90% chance of surviving after five years. About 39% of cases are diagnosed at this early stage. The 5-year survival rate is 71% if cancer ranges to neighbouring tissues, organs, or regional lymph nodes. Thus, this factor boost the market growth.
- Rising Healthcare Expenditure And Government Support
With the growing pervasiveness of cancer, the increasing awareness for the disease and the associated treatment is also rising. Government initiatives tend to provide better and more affordable treatments along with favourable reimbursement policies which are anticipated to boost the industry growth. Additionally, growing acceptance of advanced therapies such as Erbitux (cetuximab), Avastin (bevacizumab), and Stivarga (regorafenib) is estimated to drive the market. Amgen and Allergan’s Mvasi was the first biosimilar to Avastin which was approved in U.S. and Europe, therefore marking the entry of biosimilars in the sector of oncology. Numerous other bevacizumab and cetuximab biosimilars are under development and most likely to impact branded sales when launched.
Opportunities
- Developments in the Emerging Markets
Several market players primarily focus on developing markets such as Singapore and China as they have many colorectal cancer patients and increasing medical tourism. According to the Australian Institute of Health and Welfare, more than 15,540 new cases of colorectal cancer were diagnosed in 2021. Furthermore, according to the Malaysia Healthcare Travel Council, in 2019, more than 1.22 million healthcare travelers visited Malaysia for healthcare purposes. Furthermore, the decreasing cost of treatment and involvement of advanced technologies to provide less waiting time for several procedures are most likely to boost the number of surgeries. This as a result, increases the demand for the market.
- Increasing Options of Diagnostic Techniques
There are varied diagnostic techniques that boost the growth of the market. Fecal occult blood testing (FOBT) is the most extensively prescribed screening test for CRC since it is simple, non-invasive, and has been showed to decrease the chances of death because of CRC. For instance, Clinical Genomics Technologies Pty Ltd provides InSure ONE (Fecal Immunochemical testing) for identifying blood in the stool, which helps to diagnose CRC.
Global Colorectal Cancer Treatment Market Scope
The colorectal cancer treatment market is segmented on the basis of treatment, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Treatment
- Chemotherapy
- Targeted Therapy
- Radiation Therapy
- Surgery
- Immunotherapy
- Embolization
- Others
Route of Administration
- Oral
- Parenteral
- Others
End User
- Hospitals
- Homecare
- Specialty Clinics
- Others
Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
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Colorectal Cancer Treatment Market Regional Analysis/Insights
The colorectal cancer treatment market is analyzed and market size insights and trends are provided by treatment, route of administration, end-users and distribution channel as referenced above.
The major countries covered in the colorectal cancer treatment market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America has been witnessing a positive growth for colorectal cancer treatment market throughout the forecasted period because of growing healthcare and RD expenditure and market players on novel technology or formulation of existing drugs. As per the records of the American Cancer Society, 95,520 new colon cancer cases and 39,910 new rectal cancer cases were reported in the U.S. in 2017. Colorectal cancer is becoming more common in the U.S. because of the rising cases.
Asia-Pacific dominates the market because of the high incidence cases of cancer disorders and number of generic drugs. China and India are anticipated to play a major role in the Asia Pacific market. This is because of the huge population base and rising prevalence of colorectal cancer patients.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Colorectal Cancer Treatment Market Share Analysis
The colorectal cancer treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to colorectal cancer treatment market.
Key players operating in the colorectal cancer treatment market include:
- Genentech, Inc (U.S.)
- Abbvie, Inc (U.S.)
- Novartis AG (Switzerland)
- Teva Pharmaceutical Industries Ltd (Israel)
- Pfizer Inc (U.S.)
- Hikma Pharmaceuticals PLC (U.K.)
- Alkem Labs Ltd (India)
- Accord Healthcare (U.K.)
- Zydus Group (India)
- Amneal Pharmaceutical Inc.(U.K.)
- Lilly (U.S.)
- Sanofi (France)
- Bausch Health Companies Inc. (Canada)
- Almirall, S.A (Spain)
- Fresenius Kabi USA (U.S.)
- Sagent Pharmaceuticals, Inc. (U.S.)
- Hill Dermaceuticals, Inc.(U.S.)
- Bristol-Myers Squibb Company (U.S.)
- Amgen Inc. (U.S.)
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Research Methodology:
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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