Colorectal Cancer Drugs Market Size
The Global Colorectal Cancer Drugs Market reached US$ 13.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 18.1 billion by 2030. The Global Colorectal Cancer Drugs Market is expected to exhibit a CAGR of 3.7% during the forecast period 2024-2031. The treatment of colorectal cancer typically involves a combination of surgery, radiation therapy, and chemotherapy.
Besides, the treatment regimens for colorectal cancer may vary depending on the stage and specific characteristics of the tumor. Treatment decisions should be made in consultation with healthcare professionals.
Furthermore, the increasing incidence of colorectal cancer, advances in understanding the molecular biology of colorectal cancer, and increasing clinical trials and collaboration are the factors expected to drive the market over the forecast period.
Market Scope
| Metrics | Details |
| CAGR | 3.7% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Therapy, End User, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Orthopedic Surgery key Insights. |
To know more insights Download Sample
Market Dynamics
Recent drug advancements in colorectal cancer drugs drive the growth of the Global Colorectal Cancer Drug Market.
In 2022, there have been several advancements in colorectal cancer drugs. An experimental drug called immune checkpoint inhibitors has shown promising results in treating rectal cancer.
Small trials like the one conducted at Memorial Sloan Kettering Cancer Center are carried out in the early stages of drug development to assess safety and efficacy. While the complete disappearance of tumors in all 18 patients is a favorable outcome, these results must be replicated in larger, well-controlled clinical trials for definitive conclusions on the drug's effectiveness and safety.
Cancer research has seen significant advancements, particularly with targeted therapies and immunotherapies, but individual responses to treatment can vary. Furthermore, cetuximab and other drugs targeting EGFR have been approved for colorectal cancer treatment. Thus, from the above factors, the market is expected to drive over the forecast period.
The development cost for cancer drugs is hampering the growth of the Global Colorectal Cancer Drugs Market.
According to estimates, the United States’ national spending on cancer care was expected to rise from US$124.6 billion in 2010 to US$157.8 billion in 2020, reflecting the increase in cancer prevalence due to factors such as an aging population and longer life expectancy. Among all types of cancer, colorectal cancer has the second highest treatment cost, making up 12.6% of all cancer treatment costs. The total cost of medical care for colorectal cancer treatment in 2020 was estimated at US$24.3 billion.
Market Segment Analysis
The Global Colorectal Cancer Drugs Market is segmented based on type, therapy, end user, distribution channel, and region.
The chemotherapy segment is expected to hold a dominant position in the market over the forecast period.
The chemotherapy segment accounted for the highest market stake accounting for approximately 2/3rd of the colorectal cancer drugs market in 2022. Chemotherapy is a primary treatment approach for colorectal cancer, and several drugs are commonly used for this purpose. These drugs include 5-Fluorouracil (5-FU), Capecitabine (Xeloda), Irinotecan (Camptosar), Oxaliplatin (Eloxatin), and Trifluridine and tipiracil (Lonsurf). Typically, a combination of two or three of these drugs is utilized in treatment regimens.
In some cases, chemotherapy drugs are administered in conjunction with targeted therapy drugs, which specifically target certain molecules involved in cancer growth and progression. This combination approach helps improve treatment effectiveness and outcomes in colorectal cancer.
Furthermore, the increasing FDA approvals and rising product launches are the factors expected to drive market growth over the forecast period. For instance, on January 2023, the FDA granted accelerated approval to tucatinib (brand name Tukysa) in combination with trastuzumab for RAS wild-type HER2-positive unresectable or metastatic colorectal cancer that has progressed following fluoropyrimidine-, oxaliplatin-, and irinotecan-based chemotherapy. Hence, owing to the above factors, the market segment is expected to hold the largest market share in the forecast period.
Market Geographical Share
North America holds a dominant position in the global colorectal cancer drugs market.
North America is estimated to hold around 1/3rd of the total market share throughout the forecast period, owing to the increasing prevalence of colorectal cancer, product launches, acquisition and collaboration by the market players and FDA approvals in the region are the factors expected to drive over the forecast period.
For instance, On January 2023, Takeda announced that it has entered into an exclusive licensing agreement with HUTCHMED (China) Limited and it’s subsidiary HUTCHMED Limited, for the further development and commercialization of fruquintinib outside of mainland China, Hong Kong, and Macau. Hence, owing to the above factors, North America is expected to hold the largest market share in the forecast period.
Colorectal Cancer Drugs Key Players
The major global players in the market include Genentech, Inc., Eli Lilly, and Company, Pfizer, Sanofi S.A., Bristol-Myers Squibb, Amgen, Merck & Co., Inc., Teva Pharmaceuticals, Novartis, GlaxoSmithKline, among others.
COVID-19 Impact on Market
Russia Ukraine Conflict Analysis:
The conflict between Russia and Ukraine has had a moderate impact on the colorectal cancer drugs market in terms of regulatory challenges, delays in drug approvals, and limited access to clinical trials.
The political tensions and changes in government policies have created uncertainties and disruptions in the healthcare sector, affecting the availability and accessibility of colorectal cancer drugs in both countries. These factors suggest that the conflict has notably influenced the market during the forecast period.
By Type
- Vascular Endothelial Growth Factor (VEGF) Inhibitors
- Epidermal Growth Factor Receptor (EGFR) Inhibitors
- Programmed Cell Death Protein 1/PD1 Ligand 1 (PD1/PDL1) Inhibitors
- BRAF Or MEK Inhibitors
- Tyrosine Kinase (TKI) Inhibitors
- Immunomodulators
- Others
By Therapy
- Immunotherapy
- Targeted therapy
- Chemotherapy
- Others
By End User
- Hospital
- Specialty Clinics
- Research Institute
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In May 2023, Innovent Biologics announced that IBI351 received Breakthrough Therapy Designation in China for treating advanced colorectal carcinoma patients with the KRASG12C mutation.
The company is known for developing high-quality medicines for major diseases such as oncology, metabolic, autoimmune, and ophthalmology conditions.In April 2023, according to HUTCHMED Limited a new drug application seeking the approval of fruquintinib (HMPL-013) for use in the treatment of patients with refractory metastatic colorectal cancer (mCRC) has been submitted to the FDA.
- On January 19, 2023, Seagen Inc. announced that the U.S. Food and Drug Administration (FDA) granted accelerated approval to TUKYSA (tucatinib) in combination with trastuzumab for the treatment of adult patients with HER2-positive, RAS wild-type unresectable or metastatic colorectal cancer.
This approval is specifically for patients who have experienced disease progression following treatment with fluoropyrimidine-, oxaliplatin-, and irinotecan-based chemotherapy.
Why Purchase the Report?
- To visualize the Global Colorectal Cancer Drugs Market segmentation based on the type, therapy, end user, distribution channel, and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of colorectal cancer drugs market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Colorectal Cancer Drugs Market Report Would Provide Approximately 69 Tables, 72 Figures And 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
