Global Colorectal Cancer Therapeutics Market to Reach US$ 27.8 Bn by 2031; Anticipated to Experience CAGR of 4.2% during 2023 – 2031

WILMINGTON, DELAWARE, UNITED STATES, December 4, 2023 /EINPresswire.com/ -- Colorectal cancer therapeutics refers to the diverse medical approaches used to manage and treat cancers occurring in the colon or rectum. These strategies include surgical procedures, chemotherapy, radiation therapy, targeted medications, and immunotherapy. The selection of treatment methods depends on factors such as the cancer's stage, the patient's overall health, and the tumor's unique characteristics.

Read Full Report: Global Colorectal Cancer Therapeutics Market Study

Global Colorectal Cancer Therapeutics Market Growth Drivers
Aging Population and Increasing Incidence Rates: The global aging population is contributing significantly to the demand for colorectal cancer therapeutics market. As people age, their risk to develop colorectal cancer is also increases. In many countries, the elderly population is expanding rapidly. For example, in the US, it is estimated that by 2030, the number of adults aged 65 and older will reach 72 million. This demographic shift is driving a higher incidence of colorectal cancer cases, necessitating a greater need for effective therapeutics and treatment options.
Rising Awareness and Screening Efforts: There is a growing emphasis on colorectal cancer screening and awareness campaigns worldwide. Many countries have implemented screening programs to detect the disease at earlier stages, leading to more successful treatment outcomes. For instance, in the United States, the percentage of adults aged 50 and older who reported being up-to-date with colorectal cancer screening increased from over 52% in 2002 to over 70% in 2021. Increased awareness and early detection efforts are driving demand for therapeutics, as early-stage cancers are often more treatable, further propelling market growth.

Which Drug Class Will Have the Highest Share in the Global Colorectal Cancer Therapeutics Market in the Upcoming Years?
The immunotherapy segment dominated the global colorectal cancer therapeutics market by type in 2022. The dominance can be attributed to its transformative impact on treatment outcomes. Immunotherapy, particularly immune checkpoint inhibitors, has shown remarkable efficacy in treating advanced colorectal cancer cases. For instance, clinical trials have demonstrated that pembrolizumab, when used in specific patient populations, can lead to significant tumor response rates. Additionally, colorectal cancer patients with certain genetic mutations, like microsatellite instability-high (MSI-H) or mismatch repair-deficient (dMMR) tumors, have responded exceptionally well to immunotherapies. As a result, the increasing adoption of immunotherapy represents a major shift in the treatment paradigm, offering renewed hope for patients with advanced colorectal cancer.

View Our Press Release

Based on the Cancer Type Segment, Which is the Fastest Growing Segment in the Global Colorectal Cancer Therapeutics Market during the Forecast Period?
Among cancer types, gastrointestinal carcinoid tumors segment is anticipated to be the fastest growing segment in the global colorectal cancer therapeutics market during the forecast period. The growth is driven by their increasing recognition and diagnosis. While representing a smaller proportion of colorectal cancers, their incidence is rising. For example, the annual incidence of carcinoid tumors has been estimated at 0.6 cases per 100,000 individuals in the US. As medical imaging and diagnostic techniques have improved, more of these tumors are being detected. Furthermore, targeted therapies like somatostatin analogs and everolimus have demonstrated efficacy in managing gastrointestinal carcinoid tumors. This growing focus on specialized treatments for this subset is propelling its rapid growth within the broader colorectal cancer therapeutics market.
Based on Regions, Which Region had the Highest Share in the Colorectal Cancer Therapeutics Market in 2022?
North America dominated the colorectal cancer therapeutics market in 2022. The region benefits from advanced healthcare infrastructure and access to cutting-edge treatment options, making it a hub for colorectal cancer research and development. Moreover, North America faces a relatively high incidence of colorectal cancer, with over 147,000 new cases reported annually in the US alone. This prevalence underscores the need for effective therapeutics. Additionally, strong government support for cancer research, coupled with collaborations between academic institutions and pharmaceutical companies, further solidifies North America's position as a leader in colorectal cancer therapeutics innovation and accessibility.

View Our Blog

Global Colorectal Cancer Therapeutics Market Key Participants
o Amgen Inc.
o Bayer AG
o Bristol-Myers Squibb Belgium SA/NV
o F. Hoffmann-La Roche Ltd
o Lilly
o Merck & Co., Inc.
o Novartis AG
o Pfizer Inc.
o Regeneron Pharmaceuticals Inc.
o Sanofi
o Other market participants

Global Colorectal Cancer Therapeutics Market
By Drug Class
o Chemotherapy
o Immunotherapy
o Targeted Therapy
o Others
By Cancer Type
o Colorectal Adenocarcinoma
o Gastrointestinal Carcinoid Tumors
o Others
By Distribution Channel
o Hospital Pharmacies
o Retail Pharmacies
o Online Pharmacies
o Others

By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

Consult with Our Expert:
Jay Reynolds
The Niche Research
Japan (Toll-Free): +81 663-386-8111
South Korea (Toll-Free): +82-808- 703-126
Saudi Arabia (Toll-Free): +966 800-850-1643
United Kingdom: +44 753-710-5080
United States: +1 302-232-5106
Email: askanexpert@thenicheresearch.com
Website: www.thenicheresearch.com

Jay Reynolds
The Niche Research
302-232-5106
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.