USD 70.57 billion
Targeted Therapeutics Market Size, Share, Growth Analysis, By Type(Monoclonal Antibodies and Small Molecule), By Application(Breast Cancer, Colorectal Cancer, Lung Cancer, Renal Cancer), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2052 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
62
|Figures:
78
Targeted Therapeutics Market Insights
Global Targeted Therapeutics Market size was valued at USD 70.57 billion in 2022 and is poised to grow from USD 72.05 billion in 2023 to USD 85.08 billion by 2031, growing at a CAGR of 2.10% during forecast period (2024-2031).
The market has grown rapidly due to biologics’ popularity and rapid growth. In addition, the global market is expanding due to increased investment in the biotechnology sector. The monoclonal antibody is one of the most popular medicines to come out of the biologics industry's explosive growth and development. The targeted therapeutics effectively stop the proliferation of tumor cells. In the coming years, the expansion of online pharmacies is anticipated to boost the sales of specific therapeutic drugs. Another significant factor that will significantly impact the industry's growth is increasing government spending on developing sophisticated healthcare infrastructure in the global targeted therapeutics market. In 2040, 28.4 million cases are expected to be recorded worldwide. Additionally, increasing awareness of the availability of targeted therapeutics among the population is fuelling the growth of the global market. However, targeted therapies and drug-related side effects are expected to hamper the market growth.
US Targeted Therapeutics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Monoclonal Antibodies
Fastest Growth
Small Molecule
Growth Rate
2.10% CAGR
Global targeted therapeutics market ($ Bn)
Country Share for North America Region (%)
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Targeted Therapeutics Market Segmental Analysis
Global Targeted Therapeutics Market is segmented on the basis of type, application, and region. On the basis of type, global market is segmented into Monoclonal antibodies and small molecule. On the basis of application, global Targeted Therapeutics Market is segmented into Breast cancer, colorectal cancer, lung cancer, and renal cancer. On the basis of region, global Targeted Therapeutics Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Targeted Therapeutics Market Analysis by Type
On the basis of type, global targeted therapeutics market is segmented into monoclonal antibodies and small molecule. The monoclonal antibodies segment will account for the largest revenue share. Monoclonal antibodies are the most effective drugs for treating many types of cancer. It is less toxic and dangerous than standard chemotherapy in cancer treatment. Consequently, reduced side effects along with efficient cancer treatment support the growth of this segment.
The small molecule segment is expected to grow at the fastest CAGR during the forecast period. Small-molecule drugs are highly effective at targeting specific cancer cells. Small molecules are gaining traction in cancer treatment in developed markets. The FDA approved about 89 anti-tumour small-molecule drugs in 2020.
Targeted Therapeutics Market Analysis by Application
On the basis of application, global targeted therapeutics market is segmented into Breast cancer, colorectal cancer, lung cancer, and renal cancer. Lung cancer segment dominated the global market. This may lead to an increase in lung cancer diagnoses and deaths worldwide. According to the International Agency for Research on Cancer, lung cancer is the leading cause of cancer death, accounting for about 18% of all cancer deaths worldwide. Consequently, increasing demand for lung cancer therapy has contributed significantly to the expansion of this segment.
Breast cancer is expected to be the fastest growing segment during the forecast period. Breast cancer has overtaken lung cancer to become the most commonly diagnosed form of cancer. The increasing number of breast cancer cases among the global female population is expected to fuel the growth of this segment.
Global targeted therapeutics market by type (%)
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Targeted Therapeutics Market Regional Insights
On the basis of region, global targeted therapeutics market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the global market. This is because the biologics industry in North America is expanding rapidly. The presence of various biotechnology companies in this sector has contributed significantly to the growth of the market. Also, increased investment, along with government support for the development and expansion of biopharmaceutical manufacturing facilities, is expected to boost the targeted therapeutics market in North America.
Asia Pacific market is expected to grow at the fastest CAGR during the forecast period. This is due to increasing consumer awareness of the availability of targeted therapies, increasing prevalence of cancer and other chronic diseases, increasing disposable income, the growing popularity of health insurance, and rapid expansion of healthcare infrastructure. Also, consumers believe in the safety and efficacy of targeted therapies due to their ability to stop the growth of cancer cells without harming normal cells. This reduces the risk of adverse effects of cancer therapy.
Global targeted therapeutics market by Region
- Largest
- Fastest
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Targeted Therapeutics Market Dynamics
Targeted Therapeutics Market Driver
- Increasing prevalence of cancer and disposable income of people
The widespread cancer is the primary driver of the targeted therapeutics market. Due to the increase in the amount of smoking, the number of smokers is increasing. It is the primary cause of cancer deaths worldwide. About 235,760 people in the United States will be diagnosed with lung cancer in 2021. Also, approximately 130,000 lung cancer deaths are reported in the United States each year. With the fact that smoking prevalence has increased by over 19% globally, its prevalence is not limited to the US.
Targeted Therapeutics Market Restraint
- Targeted therapy and drug-related side effects
Targeted therapies and their associated drugs have numerous applications in cancer treatment. However, there are significant health issues associated with such surgery, which is expected to hamper the market growth. Hepatitis, diarrhoea, and liver problems such as elevation of liver enzymes are also common risks. Other symptoms that people may experience include hair loss, rashes, decreased sperm production, and high blood pressure.
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Targeted Therapeutics Market Competitive Landscape
Global targeted therapeutics market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global targeted therapeutics market.
For example, on July 21, 2021, United Kingdom-based pharmaceutical giant AstraZeneca announced that it had closed the acquisition process for US-based biopharmaceutical company, Alexion Pharmaceuticals. AstraZeneca paid Alexion USD 39 billion. The move will give AstraZeneca an opportunity to expand its expertise in immunology and in rare medicines.
Top Player's Company Profiles
- Roche Holding AG
- Novartis AG
- Amgen Inc.
- AstraZeneca Plc
- Merck & Co. Inc.
- Pfizer Inc.
- Eli Lilly and Company
- Bayer AG
- Bristol-Myers Squibb Company
- GlaxoSmithKline Plc
- AbbVie Inc.
- Biogen Inc.
- Sanofi S.A.
- Johnson & Johnson
- Takeda Pharmaceutical Co. Ltd.
- Gilead Sciences Inc.
- Vertex Pharmaceuticals Inc.
- Teva Pharmaceutical Industries Ltd.
- Celgene Corporation (a subsidiary of Bristol-Myers Squibb Company)
- Regeneron Pharmaceuticals Inc.
Recent Developements
- In January 2024, Remix Therapeutics started a strategic collaboration with Roche, which is pointed toward utilizing RNA modulation for novel drug discovery efforts.
- In October 2023, Medilink Therapeutics uncovered a strategic collaboration and overall license agreement with BioNTech to advance the improvement of the cutting-edge enemy of cancer antibody drug forms.
- In October 2023, Monte Rosa Therapeutics disclosed a strategic collaboration with Roche to discover novel molecular glue degraders targeting malignant growth and neurological diseases.
Targeted Therapeutics Key Market Trends
- Major players in the global therapeutics market are heavily involved in collaboration agreements and acquisitions as well as new product launches. These initiatives are expected to fuel the growth of the global therapeutics market. Some key competitors in the therapeutics market have adopted expansion strategies. For example, PubMed Inc. has launched its upgraded versions of complement-targeted therapies to cater to various destructive potentials for several diseases and pathological conditions, boosting the sales of complement-targeted therapies.
Targeted Therapeutics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our global targeted therapeutics market analysis, breast cancer, bladder cancer, colorectal cancer, kidney cancer, leukaemia, liver cancer, lung cancer, lymphoma, and prostate cancer are all treated with targeted therapy. By region, Asia Pacific is expected to grow at the fastest CAGR during the forecast period. This is due to increasing consumer awareness of the availability of targeted therapies, increasing prevalence of cancer and other chronic diseases, increasing disposable income, the growing popularity of health insurance, and rapid expansion of healthcare infrastructure. However, targeted therapies and drug-related side effects are expected to hamper the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 70.57 billion |
| Market size value in 2031 | USD 85.08 billion |
| Growth Rate | 2.10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developements
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Targeted Therapeutics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Targeted Therapeutics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Targeted Therapeutics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Targeted Therapeutics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Targeted Therapeutics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Targeted Therapeutics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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