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 global targeted therapy market is poised for substantial growth, with expectations to escalate from $97.34 billion in 2022 to $106.79 billion in 2023, marking a commendable compound annual growth rate (CAGR) of 9.7%. Looking ahead, the market is projected to reach $148.38 billion by 2027, sustaining a CAGR of 8.5%. The driving force behind this growth is the increasing prevalence of cancer, compelling the adoption of targeted therapies that specifically target genes and proteins vital for cancer cell growth and survival.

Key Market Players:

Major players shaping the targeted therapy market landscape include industry giants such as Amgen Inc., Merck & Co., Inc., Pfizer Inc., and Novartis AG. These companies play a pivotal role in advancing research, development, and distribution of targeted therapies globally, contributing significantly to market expansion.

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Innovation Driving Progress:

A key trend gaining traction in the targeted therapy market is the focus on new product development. Major companies, including Novartis AG, are at the forefront, introducing groundbreaking solutions such as Pluvicto. Approved by the US Food and Drug Administration (FDA) in March 2022, Pluvicto represents the first FDA-approved targeted radioligand therapy (RLT) for eligible patients with metastatic castration-resistant prostate cancer (mCRPC). This innovative therapy combines a therapeutic radioisotope with a targeted chemical, binding to cells expressing the PSMA protein. Pluvicto’s targeted energy emissions disrupt cell replication and induce cell death, exemplifying the precision and efficacy of targeted cancer therapy.

Regional Dominance and Market Segmentation:

As of 2022, North America holds the largest share in the targeted therapy market. The regions covered in the global report include Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.

Market Segmentation:

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.

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The Targeted Therapy Global Market Report 2023  provides a comprehensive overview on the targeted therapy market size, targeted therapy market trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the targeted therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

View More Related Reports –
Cell Therapy Global Market Report 2023
Cellular Immunotherapy Global Market Report 2023
Cell and Gene Therapy Global Market Report 2023

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