The Colorectal Cancer Drugs Market Is Set To Reach $16.2 Billion By 2027, With Rising Colorectal Cancer Cases As Per The Business Research Company's Colorectal Cancer Drugs Global Market Report 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

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LONDON, Sept. 20, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Colorectal Cancer Drugs Global Market Report 2023, the global colorectal cancer drugs market is on a steady growth trajectory, set to increase from $13.65 billion in 2022 to $14.21 billion in 2023, with a compound annual growth rate (CAGR) of 4.1%. This upward trend is expected to continue, projecting the colorectal cancer drugs market size to reach $16.22 billion by 2027, at a CAGR of 3.3%.

Rising Colorectal Cancer Cases Fuel Market Expansion

The alarming rise in colorectal cancer cases worldwide underscores the significance of the colorectal cancer drugs market. According to research published in ACS Publications in March 2020, a total of 147,950 individuals were diagnosed with colorectal cancer, resulting in 53,200 fatalities. Notably, 17,930 cases and deaths occurred among individuals under the age of 50. This trend is set to persist, with diagnosed incident cases of colorectal cancer projected to surge by 27.3% to reach 672,400 cases by 2037. Contributing factors to this increase include low-fiber diets, obesity, and the consumption of alcohol and tobacco, among others.

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Major Players in the Colorectal Cancer Drugs Market

Leading players in the global colorectal cancer drugs market include Merck & Co. Inc., Roche, Sanofi, Amgen, Pfizer Inc., Abbott Laboratories, Taiho Pharma, Novartis, GlaxoSmithKline, Onyx, TAKEDA PHARMACEUTICALS, Bristol-Myers Squibb, Sumitomo Dainippon Pharma, Array BioPharma, Eli Lilly, RANDOX LABORATORIES, Suzhou Zelgen Biopharmaceuticals, Beckman Coulter Inc., Regeneron, EDP Biotech, Genomic Tree, Metabiomics Corporation, SIEMENS HEALTHCARE, Suzhou Zelgen Biopharmaceuticals, Sumitomo Dainippon Pharma, and EPIGENOMICS.

Targeted Therapies Revolutionize Colorectal Cancer Treatment

The adoption of targeted therapies marks a significant advancement in the treatment of metastatic colorectal cancer patients. These therapies encompass hormone therapies, gene expression modulators, apoptosis inducers, angiogenesis inhibitors, immunotherapies, signal transduction inhibitors, and toxin delivery molecules. Targeted therapies offer enhanced specificity towards cancer cells while minimizing toxicity to off-target cells. Notable examples of targeted therapies include Opdivo and Keytruda.

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North America Dominates; Middle East Emerges as Growth Leader

In 2022, North America dominated the colorectal cancer drugs market. However, the Middle East is poised to emerge as the fastest-growing region in the global colorectal cancer drugs market during the forecast period, highlighting the global nature of this critical healthcare challenge.

In conclusion, the Colorectal Cancer Drugs Global Market Report 2023 provides invaluable insights into a rapidly growing market. As colorectal cancer cases surge worldwide, this report serves as an indispensable resource for stakeholders, offering a comprehensive understanding of market dynamics, major players, and emerging trends in targeted therapies. By equipping industry professionals and healthcare stakeholders with vital information, the colorectal cancer drugs market report empowers them to make informed decisions, foster innovation, and ultimately improve the outlook for colorectal cancer patients globally.

Colorectal Cancer Drugs Global Market Report 2023 by The Business Research Company provides insights on the colorectal cancer drugs market size, colorectal cancer drugs market segments, colorectal cancer drugs market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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