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What Is The Predicted Market Size Of The Targeted Therapy Industry By 2029?

The market size for targeted therapy has exhibited robust growth in recent times. It is projected to rise from $103.84 billion in 2024 to reach $109.99 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.9%. The growth observed during the historical period is credited to improvements in molecular biology, the escalating incidence of cancer, the rising trend of personalized medicine, as well as support through FDA approvals and regulatory backing.

The market size for targeted therapy is projected to witness substantial growth in the coming years. It is set to rise to $146.89 billion in 2029, with a compound annual growth rate (CAGR) of 7.5%. This growth during the forecast period can be credited to several factors such as the expansion of oncology research, heightened demand for precision medicine, the advent of immunotherapies, increased investment in biopharmaceuticals, and improved patient awareness and advocacy. Key trends for the forecast period involve the incorporation of artificial intelligence (AI) in drug discovery, patient advocacy and increased participation in treatment choices, the growth of companion diagnostics, regulatory support for rapid approvals, and escalating investment in biotechnology and pharma.

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Which Industry Forces Are Driving The Targeted Therapy Market Forward?

The surge in cancer cases is predicted to fuel the expansion of the targeted therapy market. Cancer refers to conditions characterized by abnormal cells invading surrounding tissues and multiplying without control. Targeted therapy is capable of inhibiting the growth-promoting signals of cancer cells or triggering these cells to self-destruct. This therapy uses drugs specifically designed to target genes and proteins which enable cancer cells to grow and survive, hence increasing its demand. For example, the American Cancer Society, a nonprofit organization dedicated to combating cancer in the US, reported in January 2024 that the incidence of cancer rose to 2,001,140, up from 1,958,310 in 2023, indicating a 2.19% increase. Therefore, the rising incidence of cancer is anticipated to bolster the growth of the targeted therapy market.

What Is The Segment Breakdown Of The Targeted Therapy Market?

The targeted therapymarket 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 Are The Dominant Trends Currently Seen In The Targeted Therapy Market?

Key players in the targeted therapy market are striving to introduce innovative technological solutions to consolidate their market standing. For instance, in March 2022, Novartis AG, a global pharmaceutical corporation based in Switzerland, introduced Pluvicto, having received approval from the US Food and Drug Administration (FDA). Pluvicto is the first targeted radioligand therapy (RLT) endorsed by the FDA for suitable patients with mCRPC. This therapy merges a therapeutic radioisotope with a specific chemical (a radioactive particle), making it a unique targeted cancer treatment. Pluvicto specifically binds to cells in the bloodstream, including prostate cancer cells which express the PSMA transmembrane protein. Once attached, the radioisotope’s energy emissions damage the targeted cells and nearby cells, obstructing cell replication and/or causing cell death.

Which Companies Are Contributing Significantly To The Targeted Therapy Market Growth?

Major companies operating 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, Bristol Myers Squibb, AstraZeneca, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Genmab A/S, Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, Agilent Technologies Inc., Illumina Inc., Incyte Corporation, Sysmex Corporation, Exact Sciences Corporation, Seagen Inc., Exelixis Inc., Seattle Genetics Inc., Genentech Inc., Daiichi Sankyo Company Limited

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Which Region Is Leading Innovation 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.

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