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How Will the Targeted Therapy Market Grow from 2024 to 2033?

The market size for targeted therapy has significantly increased in the recent past. It is forecasted to expand from $97.72 billion in 2023 to $105.06 billion in 2024, maintaining a steady compound annual growth rate (CAGR) of 7.5%. This substantial growth in the past years can be owed to the progression made in molecular biology, rising instances of cancer, the trend towards personalized medicine, FDA’s endorsement, and regulatory support.

In the coming years, the market size for targeted therapy is predicted to exhibit robust growth, escalating to $140.77 billion in 2028 with a 7.6% compound annual growth rate (CAGR). The increased growth projected for this period can be credited to the progression in oncology research, the surge in demand for precision medicine, the advent of immunotherapies, increased funding in biopharmaceuticals, and heightened patient awareness and advocacy. During this forecast period, significant trends will consist of the incorporation of artificial intelligence (AI) in drug discovery, patient advocacy and participation in treatment choices, the extension of companion diagnostics, regulatory encouragement for accelerated approvals, and heightened investment in biotechnology and pharma.

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What Aspects Are Influencing the Growth Rate of the targeted therapy Market?

The escalating incidence of cancer is forecasted to stimulate the growth of the targeted therapy market. Cancer, described as a condition where errant cells proliferate without control and invade neighboring tissues, is on the rise. Targeted therapy interrupts the signals that incite the growth of cancer cells or commands the cancer cells to eliminate themselves. This therapy utilizes medication to specifically target the genes and proteins that foster the growth and survival of cancer cells, which consequently heightens its demand. For example, in September 2021, according to the National Cancer Institute, a US government organization that is a part of the National Institutes of Health, it was reported that 1,806,590 new cancer cases were logged, pointing to a 43% increase from the previous year. Hence, the rising prevalence of cancer is propelling the growth of the targeted therapy market.

What Are the Critical Segments of the Targeted Therapy Market?

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

What Trends Are Redefining Consumer Expectations in the Targeted Therapy Market?

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What Are the Leading Regions in the Targeted Therapy Market Expansion?

North America was the largest region in the targeted therapy market in 2023. The regions covered in the targeted therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Targeted Therapy Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the targeted therapy market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Targeted Therapy Market Include

1. Targeted Therapy Market Executive Summary

2. Targeted Therapy Market Segments

3. Targeted Therapy Market Size And Template Market Growth Rate

4. Key Targeted Therapy Market Trends

5. Major Targeted Therapy Market Drivers

……

25. Key Mergers And Acquisitions In The Targeted Therapy Market

26. Top Targeted Therapy Companies

27. Targeted Therapy Market Opportunities And Strategies

28. Targeted Therapy Market, Conclusions And Recommendations

29. Appendix

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