Targeted therapeutics is a cancer treatment in which drugs are used to precisely target cancer cells without affecting the normal cells of the body. It is often used in combination with other traditional therapies such as standard or traditional chemotherapy, radiation therapy, or staging surgeries. The primary objective of targeted therapeutics is to help treat cancer. This is done by intervening with particular protein types that help tumors to develop and circulate in the body+. Specific target therapy can be used to mark cancer cells so that the immune system can target and kill these cells easily. With this process, the rate of cancer developing in the body can be reduced significantly.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future owing to the demand for vaccines and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the global targeted therapeutics market.
Top Impacting Factors
- The prevalence of cancer is increasing at an alarming rate globally due to poor diet & sedentary lifestyle. Hence, advanced treatment therapies are being introduced.
- However, lack of availability of resources for patient care during the COVID-19 pandemic has affected cancer treatment.
- It has further become a challenge to provide constant high-quality unfragmented cancer treatment while reducing the exposure of the patient to any risks.
- Biologics, drugs that are made from living organisms, have witnessed increase in penetration. In addition, innovative approaches have led to rise in use of biologics in the cancer therapy field.
- Improvements in healthcare facilities coupled with rise in healthcare spending in developed countries is augmenting the growth of the global market. Furthermore, upsurge in geriatric population is likely to work well in favor of the market.
- In many countries, governments are allocating their fiscal budgets for medical advancements. Continuous developments and research activities in the field of life science are supporting the growth of the targeted therapeutics market.
- However, increase in risk of side effects of targeted drugs is anticipated to restrict the targeted therapeutics market growth during the forecast period.
Key Market Trends
Key players in the global therapeutics market are highly engaged in collaborative agreements & acquisitions and new product launches. These strategies will likely fuel the growth of the therapeutics market globally. Few expansion strategies that have been adopted by key players in the therapeutics market are as follows:
- In September 2020, Prinipia Biopharma Inc. was acquired by Sanofi for $3.68 billion. This acquisition is likely to strengthen the core areas of allergic and autoimmune diseases, giving Sanofi full control of BTK inhibitors as well as tolerutinib (SAR442168) to develop further.
- In March 2021, a clinical-stage biotechnology company, Amgen Inc. and Five Prime Therapeutics Inc. focused on developing targeted cancer therapies and immuno-oncology therapies, announced an agreement under which Five Prime Therapeutics will be acquired by Amgen for per share valued at $38.00 in cash. This represents an equity value of $1.9 billion approximately. Moreover, this acquisition will add Five Prime’s innovative pipeline to the leading oncology portfolio on Amgen.
Key Benefits of the Report
- This study presents the analytical depiction of the targeted therapeutics market industry along with current rends to determine the likely investment pockets.
- The report presents information related to key drivers, opportunities, restraints along with a detailed analysis of the targeted therapeutics market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in the coming years
Questions Answered in the Targeted Therapeutics Market Report
- Which are the leading players active in the global targeted therapeutics market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is targeted therapeutics?
- What is targeted therapeutics market prediction in the future?
- What are the current trends and predicted trends?
Key Market Segments
- By Product Type
- Monoclonal Antibodies
- Small Molecules
- By Application
- Breast Cancer
- Colorectal Cancer
- Leukemia
- Lung Cancer
- Lymphoma
- Multiple Sclerosis
- Renal Cancer
- Wet Age-related Macular Degeneration
- By DISTRIBUTION CHANNEL
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- By Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Genentech, Inc.
- F. Hoffmann-La Roche & Co.
- Aurinia Pharmaceuticals Inc.
- Gilead Sciences, Inc.
- Celdara Medical, LLC
- Pfizer, Inc.
- Amgen, Inc.
- Arcus Biosciences, Inc.
- AstraZeneca Plc.
- Serena Therapeutics Inc.
- Agenus, Inc.
- Nektar Therapeutics Inc.