Global Colorectal Cancer Therapeutics Market 2019-2023
About this market
The global colorectal cancer therapeutics market is largely dominated by monotherapy drugs, including targeted therapies and immunotherapies. However, the combination of these monotherapy drugs with chemotherapy or other therapeutics also increases the therapeutic value. The combination of drugs helps in overcoming the limitations of each therapeutic and increases the overall outcome in the treatment of colorectal cancer. Furthermore, the combination of therapies with or without surgery can be used to reduce the spreading of the disease and temporarily shrink a cancerous tumor. Moreover, the combination therapy that contains two or more number of therapeutics is useful to achieve an additive or synergistic effect with low doses of combinational therapeutics. Technavio’s analysts have predicted that the colorectal cancer therapeutics market will register a CAGR of almost 3% by 2023.
Rising population with risk factors of colorectal cancer
The incidence of colorectal cancer is increasing owing to the risk factors such as the increasing geriatric population, inflammatory diseases, genetic syndromes, and changes in lifestyle. Hence, an increase in the number of patients with these risk factors is expected to increase the development of colorectal cancer. This, in turn, is expected to aid in the use of available therapeutics, which will drive the growth of the global colorectal cancer therapeutics market during the forecast period.
Patent expiration of novel therapeutics
The pharmaceutical companies sell their innovator products, especially biologics, at a high price until their patent expiration. The expiration of patents and other intellectual property rights of therapeutics are likely to hamper the growth of the global colorectal cancer therapeutics market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the colorectal cancer therapeutics market during the 2019-2023, view our report.
The market appears to be fairly concentrated and with the presence of limited vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Colorectal Cancer Therapeutics Market 2019-2023
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the development of small molecules kinase inhibitors.”
According to the report, one of the major drivers for this market is the rising population with risk factors of colorectal cancer.
Further, the report states that one of the major factors hindering the growth of this market is the side effects associated with availability medicines.
Bristol-Myers Squibb Company
Eli Lilly and Company
F. Hoffmann-La Roche Ltd
Merck & Co. Inc.
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