Colorectal Cancer Drugs Global Market Report 2023

ReportLinker

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.

New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Colorectal Cancer Drugs Global Market Report 2023" - https://www.reportlinker.com/p06245004/?utm_source=GNW


The global colorectal cancer drugs market will 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, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The colorectal cancer drugs market is expected to grow to $16.22 billion in 2027 at a CAGR of 3.3%.

The colorectal cancer drug market consists of sales of avastin, bevacizumab, and camptosar.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Colorectal cancer (CRC) or bowel cancer, is cancer affecting the large intestine and the rectum. They are also named, colon tumors or rectal cancer depending upon where they begin.

North America was the largest region in the colorectal cancer drugs market in 2022.Middle East is expected to be the fargest growing region in the forecast period.

The regions covered in the colorectal cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of colorectal cancer drugs are vascular endothelial growth factor (VEGF) inhibitors, epidermal growth factor receptor (EGFR) inhibitors, and programmed cell death protein 1/PD1 ligand 1 (PD1/PDL1) inhibitors, BRAF or MEK inhibitors, tyrosine kinase (TKI) inhibitors, and immunomodulators.Vascular endothelial growth factors (VEGF) are drugs that block VEGF and VEGFR activity.

The various classes of drugs include immunotherapy, chemotherapy, and others that are distributed by hospitals pharmacies, retail pharmacies, and others.

The number of cases of colorectal cancer worldwide has been increasing. 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.

The increasing use of biologics and targeted therapies restrains the bladder cancer drugs market.Biologic therapy uses a body’s immune system to fight cancer rather than chemical drugs which reduces the body’s immune power.

Targeted therapies block the growth and spreading of colorectal cancer even in stage IV where chemical drugs are ineffective.For example, some targeted therapies that have been approved to treat colorectal cancer include bevacizumab, cetuximab, and panitumumab.

The advantages of biological drugs and targeted therapies over conventional chemical drugs might negatively influence the market.

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.

The colorectal cancer industry is governed by a regulatory framework laid down by agencies such as the US Food and Administration Agency (FDA), the European Medicines Agency (EMA), the American Society of Clinical Oncology (ASCO), and others.For instance, the FDA’s recommendation for the colorectal cancer drugs industry in the form of guidelines is mentioned within the CFR’s (Code for Federal Regulations) title number 21 under part 312, which contains sub-parts from A to me.

The sub-part E deals with the procedures designed to push the development, evaluation, and marketing of drugs related to therapies aimed to treat persons with life-threatening illnesses such as colorectal cancer. It also includes guidelines for the monitoring and evaluation of clinical trials of colorectal cancer drugs and other cancer drugs by agency officials to determine whether new treatments are safe and effective, or better than existing treatments.

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 tumors and its research capabilities in the field of cancer research. VelosBio, Inc. is a US-based clinical-stage biopharmaceutical company specializing in the development of brand-new antibody-drug conjugates ("ADCs") to treat solid tumors and hemological malignancies.

The countries covered in the colorectal cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The colorectal cancer drugs market research report is one of a series of new reports that provides colorectal cancer drugs market statistics, including colorectal cancer drugs industry global market size, regional shares, competitors with a colorectal cancer drugs market share, detailed colorectal cancer drugs market segments, market trends and opportunities, and any further data you may need to thrive in the colorectal cancer drugs industry. This colorectal cancer drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06245004/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001