Colorectal Cancer Drugs Market Size, Share, Growth, and Industry Analysis by Type (Adenocarcinoma, Gastrointestinal Stromal Tumors (GIST), Lymphoma, Carcinoids, Turcot Syndrome, Peutz-Jeghers Syndrome (PJS), Familial Colorectal, Cancer (FCC), and Juvenile Polyposis Coli) By Application (Targeted drug and Non-targeted drug), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Colorectal Cancer Drugs Market REPORT OVERVIEW

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The global colorectal cancer drugs market size was USD 9158.42 million in 2021 and is projected to touch USD 15662.6 million by 2031, at a CAGR of 5.51% from 2021 to 2031. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Bowel cancer, also known as colorectal cancer (CRC), affects the large intestine and the rectum. They are also called colon tumors or rectal cancer, depending on where they start. The colon or rectum can develop cancer, which is known as colorectal cancer (CRC). Depending on the location of origin, these tumors are sometimes referred to as colon or rectal cancer. Rectal and colon cancers are frequently grouped together since they share many characteristics.

Colorectal Cancer is one of the most frequent malignancies, colorectal cancer has exhibited a consistent growth in frequency worldwide. Colorectal adenocarcinoma and gastrointestinal carcinoid tumor are the two main subtypes of colorectal cancer. The American Cancer Society (ACS) reports that 44,180 new instances of rectal cancer and 101,420 new cases of colon cancer, respectively, were diagnosed in the United States in 2019. The prevalence of colorectal cancer is rising, and factors including product releases and the advantages of generic medications are fueling the growth of the worldwide colorectal cancer drugs market. The global colorectal cancer drugs market is predicted to increase faster than average due to rising medical tourism and the expanding pharmaceutical sector in emerging nations

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth

The appearance of COVID-19 has halted the global activity. We are aware that businesses across industries have had an unprecedented effect as a result of the health crisis. Nevertheless, this too will pass. Increasing government and corporate assistance can aid in the battle against this extremely contagious disease. Some industries are doing well, while others are experiencing difficulties. The pandemic is expected to have an overall negative impact on the colorectal cancer drugs market.

LATEST TRENDS

"Increased Awareness of Colorectal Cancer to Boost Market Growth"

The growth of the colorectal cancer drugs market is significantly influenced by the increased awareness of colorectal cancer. Additionally, it is anticipated that the rising number of corresponding product launches for efficient colorectal cancer drugs would aid in boosting market growth overall throughout the forecast period. Additionally, the introduction of the most recent initiatives aimed at providing colorectal cancer patients with appropriate care is more likely to support the growth of the colorectal cancer drugs market. Additionally, it is predicted that the high death rates will have a beneficial impact on the growth of the colorectal cancer drugs market in the ensuing years, along with the rising need for effective cancer treatments globally.

Colorectal Cancer Drugs Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: Adenocarcinoma, Gastrointestinal Stromal Tumors (GIST), Lymphoma, Carcinoids, Turcot Syndrome, Peutz-Jeghers Syndrome (PJS), Familial Colorectal, Cancer (FCC), and Juvenile Polyposis Coli. The colorectal adenocarcinoma category is expected to increase the growth of the colorectal cancer drugs market share. This is partly because colorectal adenocarcinoma accounts for a significant number of occurrences of colorectal cancer globally.

• By Application Analysis

Based on application, the market is segmented as follows: Targeted drug and Non-Targeted drug. The sector of targeted therapy is thought to hold the largest colorectal cancer drugs market share among them.

DRIVING FACTORS

"Inexpensive Treatments Offered by Government to Facilitate Market Development"

During the forecast period, the colorectal cancer drugs market is anticipated to grow moderately. Colorectal cancer drugs market expansion is projected to be fueled by elements like the appearance of more front-line medicines, forthcoming releases of potential pipeline prospects, and supportive government initiatives. Major motivating factors for this condition include the aging population and growing public knowledge of it. Growth in the colorectal cancer drugs market is anticipated to be fueled by government attempts to offer better and more inexpensive treatments as well as advantageous reimbursement regulations. The colorectal cancer drugs market is anticipated to be driven by rising consumer acceptance of cutting-edge treatments including Stivarga (regorafenib), Erbitux (cetuximab), and Avastin (bevacizumab).

"Rising Prevalence of Colorectal Cancer to Promote Industry Progress"

The prevalence of colorectal cancer has been rising on a global scale. For instance, according to research based on data from the National Center for Health Statistics and published in ACS Publications, a US-based scientific publication, 147,950 people would receive a CRC diagnosis and 53,200 would die from it in March 2020. There will be 17,930 cases and fatalities out of these totals in people under 50. By 2037, there will be 672,400 incident instances of colorectal cancer, a 27.3% increase over the current figure. A low-fiber diet, obesity, and the use of alcohol and tobacco, among other things, are some of the causes of this increase. The worldwide colorectal cancer drugs market will grow in size as the number of cases of the disease rises.

RESTRAINING FACTORS

"Targeted Therapies to Hinder Market Growth"

The bladder cancer drug industry is constrained by the rising use of biologics and targeted therapy. Instead of using chemical medications that weaken the body's immune system, biological therapy harnesses the body's immune system to fight cancer. Even in stage IV, where chemical drugs are useless, targeted therapy stops the growth and spread of colorectal cancer. For instance, bevacizumab, cetuximab, and panitumumab are a few targeted treatments that have been approved for the treatment of colorectal cancer. The benefits of targeted therapies and biological medications over traditional chemical medications could have a detrimental impact on the colorectal cancer drugs market growth.

Colorectal Cancer Drugs Market REGIONAL INSIGHTS

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"High Rate of Cancer to Propel Market Progress in North America"

North America is expected to take the lead in the global colorectal cancer drugs market over the next years. The region's colorectal cancer drugs market expansion will be fueled by the high rate of colorectal cancer and the introduction of new products nationwide. Additionally, the market in North America is anticipated to be driven by rising research and development initiatives, as well as rising public awareness and high acceptance of preventative and advanced colorectal diagnostics. The colorectal cancer drugs market was dominated by North America in 2022.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• AstraZeneca (U.K)
• Teva (Israel)
• Oncothyreon (U.S.)
• Bristol-Myers Squibb (U.S)
• ThromboGenics (Belgium)
• Amgen (U.S)
• Precision Biologics (U.S)
• Mologen (Germany)
• Symphogen (Denmark)
• Boehringer Ingelheim (Germany)
• Debiopharm (Switzerland)
• Merck Serono (Switzerland)
• Yakult Honsha (Japan)
• Takeda (Japan)
• Mylan (U.S)
• F. Hoffmann-La Roche (Switzerland)
• Immodulon Therapeutics (U.K)
• Advenchen Laboratories (U.S)
• Eli Lilly (U.S)
• Bayer (Germany)
• Biothera (China)
• Eisai (Japan)
• Accord Healthcare (U.S)
• Taiho (Japan)
• Bavarian Nordic (Denmark)
• Xbiotech (U.S)
• Sun Pharmaceutical (India)
• Nektar Therapeutics (U.S)
• Aeterna Zentaris (U.S)
• Daiichi Sankyo (Japan)
• Otsuka Pharmaceutical (Japan)

REPORT COVERAGE

The report covers overall market aspects, including market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.