What is the Size of the Targeted Cancer Therapy Market?
The goal of cancer treatment is cure, control or palliation. Factors that determine the treatment modality are the cell type of the cancer, the location and size of the tumor, and the extent of the disease. The physiologic and psychologic status and the expressed needs of the patient also have an important part in determining the treatment plan.
The global targeted cancer treatment market is estimated to be valued at $96.7 billion in 2018, according to Kalorama Information’s report on targeted cancer therapies. The market increased at a compound annual rate of 14.5% from $32.6 billion in 2010.
These factors influence the modalities chosen for treatment and the length of time the treatment is administered.
Despite the advances in cancer treatment, cancer continues to affect about 14 million people annually, generating a significant loss of life, financial burden and overall strain on the health industry.
Worldwide between 35 and 40 million people are living with cancer and nearly 8 million people lose the battle annually. The most common cancers affecting the world population include lung, breast, colon/rectum, stomach, liver, prostate, cervical, esophageal, and bladder. Cancer deaths occur in about 50% of people who develop cancer in developed countries; this is in contrast to 80% death rate in cancer patients in underdeveloped countries.
The mainstay of systemic therapy for solid and hematological malignancies in the 20th century was chemotherapy. This approach has drawbacks including toxicity to normal tissue, drug resistance and lack of efficacy. The demand for more effective and tolerable treatments has led to the development of novel therapeutic agents that specifically target the malignant cells.
Today, advanced targeted therapies are available, and more are being developed each year. Although there are some older targeted therapies on the market, ie. Rituxan, the industry is now expanding the use of these treatments to better treat cancer victims. Targeted treatments are less invasive and less damaging to the body and they promise improved outcomes in many cases.
The Targeted Cancer Therapeutics Market specifically focuses on five leading segments of targeted therapies:
• Monoclonal antibodies
• Tyrosine kinase inhibitors
• Angiogenesis inhibitors
• CDK inhibitors
• Proteasome inhibitors
Additionally, smaller areas of targeted therapies are covered including mTOR inhibitors, PI3K inhibitors, PARP inhibitors, apoptosis inhibitors, histone deacetylase inhibitors, hedgehog signaling pathway inhibitors and several others.
The rising incidence of cancer, particularly in the over 50 population, is likely have a significant impact on all areas of cancer treatment; however, for many cancer types, there remains a significant unmet need in effective treatment. Lung cancer is one example as patient survival is less than five years after diagnosis. Traditional therapies have failed to provide adequate treatment for these patients, signifying a need for an alternative treatment plan. Programs, such as those that grant compassionate use are becoming more common as provider and patients continue to demand better therapies with the potential for increasing life.