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 targeted therapy market report forecasts the targeted therapy market size to grow to $148.38 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.

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Targeted Therapy Market Size Forecast
The global targeted therapy market is expected to grow from $97.34 billion in 2022 to $106.79 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. 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 targeted therapy market size is expected to grow to $148.38 billion in 2027 at a CAGR of 8.5%.

North America held the largest targeted therapy market share.

Key Targeted Therapy Market Driver ­– Increase In The Prevalence Of Cancer
According to the American Cancer Society’s 2021 report, 1.8 million new instances of cancer were reported in 2020. Furthermore, the National Cancer Institute, a US-based federal body that is part of the National Institutes of Health, reported 1,806,590 new cancer cases in September 2020, a 43% rise from 2019. As a result, the rising occurrence of cancer is propelling the targeted therapy market forward.

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Key Targeted Therapy Market Trend – New Product Development
Major players in the targeted therapy market are focusing on developing new technology solutions to increase their market position. For example, Novartis AG, a Swiss global pharmaceutical business, launched Pluvicto in March 2022, which was approved by the US Food and Drug Administration (FDA). Pluvicto is the first FDA-approved targeted radioligand therapy (RLT) for patients with mCRPC who meet certain criteria. It combines a therapeutic radioisotope with a radioactive particle (a targeted chemical). It is a sort of targeted cancer therapy that combines a therapeutic radioisotope with a targeting chemical.

 Targeted Therapy Market Segment
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

Targeted Therapy Market Major Players and Strategies
Major players in the targeted therapy market are Amgen Inc., GlaxoSmithKline plc, Sanofi, Merck & Co., Inc., Pfizer Inc., F. Hoffmann-La Roche Ltd., AstraZeneca, Bristol Myers Squibb, Takeda Pharmaceutical Company Limited, Novartis AG, Seagen Inc., Bayer AG, Genentech, Inc., ChemGenex Pharmaceuticals Ltd., and Genmab A/S.

Bristol Myers Squibb, a biopharmaceutical corporation based in the United States, paid an undisclosed sum for Turning Point Therapeutics in August 2022. Bristol will be able to satisfy a major medical need for patients with non-small cell lung cancer who test positive for ROS1 thanks to the acquisition of Turning Point Therapeutics. Furthermore, Bristol Myers Squibb has access to a pipeline of investigational medications, including repotrectinib, aimed at combating the most common mutations associated with oncogenesis. Turning Point Therapeutics, Inc. is a clinical-stage precision oncology firm established in the United States.

The Targeted Therapy Global Market Report 2023 covers regional data on targeted therapy market size, targeted therapy market trends and drivers, opportunities, strategies, and targeted therapy market competitor analysis. The countries covered in the targeted therapy 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.

Targeted therapy is a type of cancer treatment that uses drugs or other compounds to attack specific molecules essential for cancer cell survival and spread. It employs medications to target certain genes and proteins that aid in the survival and growth of cancer cells.

View More Reports Related To The Targeted Therapy Market –
Drugs For Immunotherapy Global Market Report 2023
Drugs For Hormonal Replacement Therapy Global Market Report 2023
Nucleic Acid Based Gene Therapy Global Market Report 2023

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