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Analyzing the Growth Rate of the Targeted Therapy Market: What’s the Expected CAGR for the Next Decade?

The market size for targeted therapy has been expanding robustly over the past few years. It’s estimated to grow from $103.84 billion in 2024 to $111.47 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.3%. The notable growth in the past can be credited to advancements in the field of molecular biology, rise in cancer prevalence, the growing trend of personalised medicine as well as regulatory support and approvals from the FDA.

The market size for targeted therapy is predicted to experience significant growth in the coming years, expanding to $151.48 billion in 2029 with a compound annual growth rate (CAGR) of 8.0%. This expected growth during the forecast period can be linked to factors such as increased research in oncology, growing demand for precision medicine, the advent of immunotherapies, surge in biopharmaceutical investments, and heightened patient awareness and advocacy. The key trends projected for this period involve harnessing artificial intelligence in drug research, greater patient advocacy and participation in treatment choices, the broadening of companion diagnostics, regulatory backing for speedy approvals, and a rise in investment in biotechnology and pharmaceutical industries.

Which Major Market Drivers Are Expected to Boost the Targeted Therapy Market’s Growth Potential?

The targeted therapy market is predicted to expand due to the rising incidence of cancer. Cancer is characterized by abnormal cells that multiply uncontrollably and can invade adjacent tissues. Targeted therapy can inhibit the signals that stimulate cancer cell growth or trigger self-destruction in these cells. This type of therapy utilizes drugs to specifically target the genes and proteins facilitating cancer cell growth and survival, thereby heightening its demand. For example, the American Cancer Society, a nonprofit cancer advocacy organization in the US, reported that the number of cancer cases rose to 2,001,140 in January 2024 from 1,958,310 in 2023, an increase of 2.19%. Thus, the escalating prevalence of cancer is anticipated to fuel the growth of the targeted therapy market.

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What Are the Leading Organizations Impacting the Targeted Therapy Market’s Growth?

Major companies operating in the targeted therapy market include:

• Pfizer Inc.

• Johnson & Johnson

• F. Hoffmann-La Roche Ltd

• Merck & Co Inc.

• AbbVie Inc.

What Are the Most Prominent Trends Driving Change in the Targeted Therapy Market?

Leading companies in the targeted therapy market are executing strategies of introducing novel technological solutions to consolidate their presence in the industry. An example of this strategy was observed in March 2022 when Novartis AG, a Swiss multinational pharmaceutical firm, released Pluvicto after receiving approval from the US Food and Drug Administration (FDA). Pluvicto, the inaugural targeted radioligand therapy (RLT) approved by the FDA for apt patients with mCRPC, is a category of targeted cancer therapy that merges a therapeutic radioisotope with a chemical target, known as a radioactive particle. Pluvicto bonds with target cells in the bloodstream, including those prostate cancer cells that showcase the PSMA transmembrane protein. Post bonding, the energy releases from the radioisotope damages the target cells and neighboring cells in the area, thereby inhibiting their ability to replicate and potentially leading to cellular death.

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Which Segments Play a Crucial Role in the Expansion of 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

What Regions Are Leading the Charge 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.

What Does the Definition of the Targeted Therapy Market Include?

Targeted therapy refers to a kind of cancer treatment that employs medications or other chemicals to attack particular molecules required for the survival and spread of cancer cells. It uses drugs to target specific genes and proteins that help cancer cells survive and grow.

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