Global Targeted Therapeutics Market Size By Product Type(Monoclonal Antibodies, Small Molecules), By Application(Breast Cancer, Leukemia, Lymphoma), By Distribution Channel(Hospital Pharmacies, Online Pharmacies), By Geographic Scope And Forecast
Global Targeted Therapeutics Market Size By Product Type(Monoclonal Antibodies, Small Molecules), By Application(Breast Cancer, Leukemia, Lymphoma), By Distribution Channel(Hospital Pharmacies, Online Pharmacies), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Targeted Therapeutics Market size was valued at USD 55 billion in 2021, it is expected to reach USD 125 billion by the end of 2030, growing at a CAGR of 2.6% from 2023 to 2030.
The growing burden of severe diseases like leukemia, cancer, muscular degeneration, and lymphoma is boosting growth in the targeted therapeutics market globally. The Global Targeted Therapeutics Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Targeted Therapeutics Market Definition
Targeted therapeutics refer to a form of medical treatment that involves the use of drugs or other therapies designed to target specific molecules or cells in the body that are responsible for causing or contributing to a disease or condition. This approach is in contrast to traditional non-targeted therapies that are designed to affect all cells or molecules in the body, including healthy ones. Targeted therapeutics can be used to treat a wide range of diseases, including cancer, autoimmune disorders, and infectious diseases.
Lately, the targeted therapeutics market has been booming! This is mostly because people are really wanting treatments that are personalized and actually work for what they've got. You'll find all sorts of things in this market, from those fancy monoclonal antibodies to small molecule inhibitors, and other biologic therapies. What's really driving this? Well, technology keeps getting better, and we're learning so much more about how diseases actually work. This means we can create therapies that are super precise and, you guessed it, targeted! And, looking ahead, it's expected to just keep getting bigger as new therapies pop up and everyone wants medicine made just for them.
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Targeted Therapeutics Market Overview
The COVID-19 pandemic has had a significant impact on the targeted therapeutics market. On one hand, the pandemic has increased the demand for targeted therapies as the world has struggled to find effective treatments for the virus. Many researchers and pharmaceutical companies have focused their efforts on developing targeted therapeutics to combat COVID-19, resulting in an increase in research and development activities in this area.
The prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases is increasing globally, which is driving the demand for more targeted and effective therapies. The development of new technologies such as genomics, proteomics, and personalized medicine is driving the growth of the targeted therapeutics market. These technologies enable the identification of specific disease targets and the development of more targeted therapies. Collaboration between pharmaceutical companies and research institutions is driving the growth of the targeted therapeutics market. These collaborations facilitate the development of more effective therapies by combining expertise and resources.
The targeted therapeutics market has a lot of potential for growth, but it's not without its challenges. For starters, creating these therapies is seriously complex and pricey, needing a huge investment in research. That high price tag? It might keep some companies out of the game, which means fewer new targeted therapies for patients. Plus, getting these therapies approved by regulators can be a long and winding road. There are strict rules to make sure they're safe and actually work, but those rules can add time and money to the whole process, potentially slowing things down.
There are several opportunities for growth in the targeted therapeutics market. Combination therapies that target multiple disease pathways or targets simultaneously may be more effective than single-targeted therapies. The development of combination therapies is an opportunity for growth in the targeted therapeutics market. The use of digital technologies, such as artificial intelligence and machine learning, in drug discovery and development, is an opportunity for growth in the targeted therapeutics market. These technologies can accelerate the drug development process and improve the efficacy of targeted therapies.
Targeted Therapeutics MarketSegmentation Analysis
The Targeted Therapeutics Market is segmented by product type, application, distribution channel, and region.
Targeted Therapeutics Market, By Product Type
• Monoclonal Antibodies• Small Molecules
The monoclonal antibodies segment of Targeted Therapeutics Market holds the largest revenue share as per the report of 2020. It is one of the most operative drugs that is used to treat cancer. Besides this, the other segments are also developing steadily in the global market.
The breast cancer segment is anticipated to grow faster as compared to the other segments. It is one of the most prevalent cancer types. The growing number of breast cancer cases has increased the growth in the segment.
Targeted Therapeutics Market, By Distribution Channel
The hospital pharmacies are the largest segment in this market and it is expected to sustain its dominance in the global market. Besides this, the increasing expenditure for the private and public organization has also developed the infrastructure for the hospital pharmacies in the Targeted Therapeutics Market global market.
Targeted Therapeutics Market, By Geography
• North America• Europe• Asia-Pacific• Latin America• Middle East & Africa
The North America segment holds the largest revenue in the global market, and it is projected to sustain its dominance in the forecast years. Increasing growth of biologic sector in North-America is boosting the growth of Targeted Therapeutics Market in this region.
Key Players
The major players in the Targeted Therapeutics Market are Pfizer Inc., Amgen Inc., AstraZeneca Plc., Agenus Inc., Genetech Inc., Nektar Therapeutics Inc., Sanofi, Aurinia Pharmaceuticals Inc., Serena Therapeutics Inc., Arcus Biosciences Inc., F. Hoffmann-La Roche & Co., Celdara Medical LLC, and Gileas Sciences Inc.
These companies are focusing on developing more advanced solutions with the help of technical integrations and strategic partnerships with other companies.
Key Developments
In December 2022, Genetech Inc., got the approval from United States FDA to perform Tecentriq for pediatric patients and adults that are suffering from unresectable alveolar soft part sarcoma (ASPS)
In September 2020, Sanofi acquired Principia Biopharma in order to enhance the field of autoimmune diseases and allergic diseases.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
VALUE(USD(BILLION))
KEY COMPANIES PROFILED
Pfizer Inc., Amgen Inc., AstraZeneca Plc., Agenus Inc., Genetech Inc., Nektar Therapeutics Inc., Sanofi, Aurinia Pharmaceuticals Inc., Serena Therapeutics Inc., Arcus Biosciences Inc., F. Hoffmann-La Roche & Co., Celdara Medical LLC, and Gileas Sciences Inc.
SEGMENTS COVERED
By Product Type, By Application, By Distribution Channel, By Geography.
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