The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Targeted Therapy Global Market Report 2024, the targeted therapy market is expected to show significant growth in the forecast period.

Strong Recent Growth in Targeted Therapy Market

The targeted therapy market has experienced significant growth in recent years.

• Market Size Growth: The market size increased from $97.72 billion in 2023 to $105.06 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.5%.
• Contributing Factors: Advancements in molecular biology, rising cancer incidence, personalized medicine trends, FDA approvals, and regulatory support have driven this growth.

Projected Growth and Key Drivers

Looking ahead, the targeted therapy market is set to continue its robust growth.

• Future Market Size: Expected to reach $140.77 billion by 2028, with a CAGR of 7.6%.
• Growth Drivers: Expanding oncology research, rising demand for precision medicine, emergence of immunotherapies, increasing investment in biopharmaceuticals, and heightened patient awareness and advocacy.

Major Trends Shaping the Future

Several key trends are anticipated to shape the targeted therapy market in the coming years.

• AI Integration: Incorporation of artificial intelligence in drug discovery.
• Patient Advocacy: Increased patient involvement in treatment decisions.
• Companion Diagnostics: Expansion in the use of companion diagnostics.
• Regulatory Support: Enhanced regulatory support for expedited approvals.
• Investment in Biotechnology: Rising investment in biotechnology and pharmaceuticals.

View More On The Targeted Therapy Market Report 2024 – https://www.thebusinessresearchcompany.com/report/targeted-therapy-global-market-report

Rising Cancer Prevalence Fuels Surge in Demand

The growing prevalence of cancer is a significant factor propelling the targeted therapy market.

• Cancer Statistics: According to the National Cancer Institute, there were 1,806,590 new cancer cases registered in September 2021, a 43% increase from the previous year.
• Therapy Benefits: Targeted therapy disables signals that promote cancer cell growth or triggers cancer cell self-destruction, increasing its demand.

Leading Companies in the Market

Major players 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
• Gilead Sciences Inc.
• Seagen Inc.
• Exelixis Inc.
• Seattle Genetics Inc.
• Genentech Inc.
• Daiichi Sankyo Company Limited
• ChemGenex Pharmaceuticals Ltd

Advanced Targeted Therapy Market with FDA Approval

Companies in the targeted therapy market are focusing on developing advanced technological solutions to strengthen their market position.

• Novartis AG: In March 2022, Novartis launched Pluvicto, the first FDA-approved targeted radioligand therapy for eligible patients with mCRPC. This therapy combines a therapeutic radioisotope with a targeting chemical to attack cancer cells effectively.

Strategic Acquisitions Strengthen Precision Oncology Portfolios

Strategic acquisitions are also playing a crucial role in expanding the capabilities and offerings of leading companies in the market.

• Bristol Myers Squibb: Acquired Turning Point Therapeutics in August 2022. This acquisition enhances Bristol Myers Squibb’s ability to address non-small cell lung cancer with ROS1-positive mutations and provides access to a pipeline of experimental drugs targeting oncogenesis-related mutations.

Market Segmentation

The targeted therapy market is segmented into:

• By Type: Small Molecule Medicines, Monoclonal Antibodies
• By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
• By Application: Breast Cancer, Colorectal Cancer, Leukemia, Lung Cancer, Lymphoma, Renal Cancer, Other Applications

Regional Insights

• North America: The largest region in the targeted therapy market in 2023, driven by advanced healthcare infrastructure, significant investment in research, and high adoption of new technologies.

The targeted therapy market is on a trajectory of continued expansion, driven by technological advancements, strategic acquisitions, and a growing focus on personalized medicine. With ongoing research and development, the market is poised for significant innovations and improvements in cancer treatment.

Request A Sample Of The Global Targeted Therapy Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=9129&type=smp