The increasing incidence and prevalence of colorectal cancer/oncology globally serve as a fundamental driver in the colorectal cancer therapeutics industry. Various factors contribute to this rise that include aging populations, sedentary lifestyles, unhealthy dietary habits, and genetic predispositions.
This growing prevalence underscores the urgent need for effective colorectal cancer therapeutics to address the rising burden of this disease on healthcare systems and society, thereby propelling the growth of this market.
Additionally, increased awareness and early detection efforts have played a crucial role. Enhanced screening programs and public health initiatives have led to earlier diagnosis of colorectal cancer, which is more treatable in its early stages, thereby increasing the demand for therapeutic interventions.
Furthermore, technological advancements in colorectal cancer therapeutics have revolutionized the treatment landscape. Innovations such as targeted therapies, immunotherapies, and personalized medicine approaches have led to more effective and less toxic treatment options, thus expanding market opportunities.
Authors:
Mariam Faizullabhoy, Gauri Wani
Frequently Asked Questions (FAQ) :
The market size of colorectal cancer therapeutics reached USD 12.4 billion in 2023 and is set to witness 4.6% CAGR through 2032, owing to rising incidence rates, as well as advancements in targeted and cancer immunotherapy.
The colorectal adenocarcinoma segment of the colorectal cancer therapeutics industry is expected to reach USD 9.1 billion by end of 2032, due to its common occurrence.
North America market size was USD 5.3 billion in 2023 and is projected to grow at 4.5% CAGR through 2032, attributed to its rising cancer prevalence, and availability of advanced healthcare infrastructure.
Bristol-Myers Squibb Company, Celleron Therapeutics, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Genentech, Inc, Novartis AG, Pfizer Inc, and Sanofi S.A. among others.