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

The Business Research Company’s colorectal cancer drugs market report forecasts the colorectal cancer drugs market size to grow to $16.22 Billion by 2027, with a CAGR (compound annual growth rate) of more than 3%.

Learn More On The Colorectal Cancer Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/colorectal-cancer-drugs-global-market-report

Colorectal Cancer Drugs Market Size Forecast
The global colorectal cancer drugs market is expected to grow from $13.65 billion in 2022 to $14.21 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global colorectal cancer drugs market size is expected to grow to $16.22 billion in 2027 at a CAGR of 3.3%.

North America held the largest colorectal cancer drugs market share, and Middle East was the fastest-growing region in 2022.

Key Colorectal Cancer Drugs Market Driver ­– Increase In Number Of Cases Of Colorectal Cancer Worldwide
For instance, in March 2020, according to research published in ACS Publications, a US-based scientific journal, based on data from the National Center for Health Statistics, a total of 147,950 people would be diagnosed with CRC, and 53,200 would pass away from it. 17,930 of these cases and fatalities will be in people under the age of 50. The number of diagnosed incident cases of colorectal cancer is expected to increase by 27.3% to 672,400 cases by 2037. The reason for this increase can be attributed to factors such as a low-fiber diet, obesity, and consumption of alcohol and tobacco, among others. The increase in the number of colorectal cancer cases will add to the overall size of the global colorectal cancer drug market.

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Key Colorectal Cancer Drugs Market Trend – Adopting Targeted Therapies
Targeted therapies have already begun to extend the lifespan of metastatic Colorectal cancer patients compared with chemotherapy-only therapy. Target therapy includes hormone therapies, gene expression modulators, apoptosis inducers, angiogenesis inhibitors, immunotherapies, signal transduction inhibitors, and toxin delivery molecules. Targeted therapy is attaining importance due to its specificity toward cancer cells while sparing the toxicity to off-target cells. Opdivo and Keytruda are examples of targeted therapies.

Colorectal Cancer Drugs Market Segment
1) By Type: Vascular Endothelial Growth Factor (VEGF) Inhibitors, Epidermal Growth Factor Receptor (EGFR) Inhibitors, Programmed Cell Death Protein 1/PD1 Ligand 1 (PD1/PDL1) Inhibitors, BRAF or MEK Inhibitors, Tyrosine Kinase (TKI) Inhibitors, Immunomodulators
2) By Distribution Channels: Hospitals Pharmacies, Retail Pharmacies, Other Distribution Channels
3) By Class: Immunotherapy, Chemotherapy, Other Classes

Colorectal Cancer Drugs Market Major Players and Strategies
Major players in the colorectal cancer drugs market are Merck & Co. Inc., Roche, Sanofi, Amgen, Pfizer Inc., Abbott Laboratories, Taiho Pharma, Novartis, GlaxoSmithKline, Onyx, TAKEDA PHARMACEUTICALS, Bristol-Myers Squib, 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.

In November 2020, Merck & Co., Inc., a US-based research-oriented biopharmaceutical company, acquired VelosBio, Inc., for an amount of $2.75 billion. Through this acquisition, Merck will strengthen its oncology drug pipeline with VLS-101 for the treatment of patients with hematologic malignancies and solid tumours and its research capabilities in the field of cancer research. VelosBio, Inc. is a US-based clinical-stage biopharmaceutical company specialising in the development of brand-new antibody-drug conjugates (“ADCs”) to treat solid tumours and hemological malignancies.

The Colorectal Cancer Drugs Global Market Report 2023 covers regional data on colorectal cancer drugs market size, colorectal cancer drugs market trends and drivers, opportunities, strategies, and colorectal cancer drugs market competitor analysis. The countries covered in the colorectal cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Colorectal cancer (CRC) or bowel cancer, is a type of cancer affecting the large intestine and the rectum. Depending on where they begin, they are also known as colon tumours or rectal cancer.

View More Reports Related To The Colorectal Cancer Drugs Market –
Cancer Biologics Global Market Report 2023
Cancer Diagnostics Global Market Report 2023
Drugs For Immunotherapy Global Market Report 2023

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