Targeted Therapy Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

The Business Research Company’s Targeted Therapy Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

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The targeted therapy market will increase from $97.72 billion in 2023 to $105.06 billion in 2024, at a CAGR of 7.5%. Drivers include advancements in molecular biology, personalized medicine, and increasing cancer incidence.

What Is the Estimated Growth Rate and Market Size of the Global Targeted Therapy Market?

The market is expected to grow significantly, reaching $140.77 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. Growth drivers include expanding oncology research, increasing demand for precision medicine, advancements in immunotherapies, and growing investment in biopharmaceuticals. Major trends include the integration of artificial intelligence (AI) in drug discovery, patient advocacy in treatment decisions, expansion of companion diagnostics, regulatory support for expedited approvals, and increased investment in biotechnology and pharma.

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What Is The Primary Growth Driver Of The Targeted Therapy Market?
The increasing prevalence of cancer is expected to significantly drive the market. Targeted therapy aims to disrupt the signals that promote cancer cell growth, employing medications to specifically target genes and proteins essential for cancer cell survival. In September 2021, the National Cancer Institute reported 1,806,590 new cancer cases, marking a 43% increase from the previous year. This rise in cancer prevalence is expected to accelerate the growth of the market.

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Which Market Leaders Are Behind the Growth of the Targeted Therapy Market?
Major companies operating in the market report are Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd, Merck & Co Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Bristol Myers Squibb, AstraZeneca, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Genmab A/S, Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, Agilent Technologies Inc., Illumina Inc., Incyte Corporation, Sysmex Corporation, Exact Sciences Corporation, Seagen Inc., Exelixis Inc., Seattle Genetics Inc., Genentech Inc., Daiichi Sankyo Company Limited, ChemGenex Pharmaceuticals Ltd

What Key Trends Are Impacting The Size Of The Targeted Therapy Market?
The market is focused on advancing technological solutions. In March 2022, Novartis AG launched Pluvicto, the first FDA-approved targeted radioligand therapy for mCRPC patients. This innovative treatment combines a therapeutic radioisotope with a targeting chemical, binding to prostate cancer cells and delivering targeted energy emissions to inhibit replication and promote cell death, demonstrating a significant advancement in cancer treatment.

How Is The Global Targeted Therapy Market Segmented?
The targeted therapy market covered in this report is segmented –
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

Regional Insights: North America Paving the Way in the Targeted Therapy Market
North America was the largest region in the market in 2023. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Targeted Therapy Market Definition
Targeted therapy is a cancer treatment approach that utilizes medications or chemicals to specifically attack molecules essential for cancer cell survival and proliferation. This method targets specific genes and proteins to hinder cancer growth and spread.

The Targeted Therapy Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Targeted Therapy Market Report: Trends, Opportunities, Strategies, and More
The Targeted Therapy Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into targeted therapy market size, targeted therapy market drivers and trends, targeted therapy market major players, targeted therapy competitors' revenues, targeted therapy market positioning, and targeted therapy market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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The Business Research Company
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