Colon Carcinoma Therapeutics Market - Forecast(2023 - 2028)
Colon Carcinoma Therapeutics Market Overview
Colon Carcinoma Therapeutics Market Size is estimated to reach $17.4 billion by 2027 and it is poised to grow at a CAGR of 7.5% over the forecast period of 2022-2027. One of the most prevalent cancer types in the world is colon carcinoma, which often develops in the colon or rectum of the large intestine. Underlying cellular mutations in the large intestine generate abnormal cell development in certain areas, which causes cancer. These cancer cells can spread to other areas of the body and frequently cause tumors to form in the affected location. Owing to the disease's high occurrence rate among the elderly population, people over the age of 50 are more susceptible to it. Colon cancer is associated with increased junk food intake, red meat and processed meat consumption and sedentary. Obesity, excessive smoking and alcohol intake are among potential risk factors for the condition of colon carcinoma. Blood in the stool, unusual bowel motions, constipation, weakness, vomiting, weight loss and nausea are a few of colon carcinoma.
Nearly 2 million cases of colorectal cancer were diagnosed in 2020, making it the third most prevalent cancer form globally. With over 1 million deaths each year, it is the second most frequent reason for cancer deaths according to World Health Organisation (WHO). According to the International Agency for Research on Cancer (IARC), there will be more than 3 million new incidences of colorectal cancer year by 2040, representing a 56% rise in the worldwide burden of the disease. Even more significantly, a projected 69% rise in disease-related fatalities or roughly 1.6 million deaths globally in 2040. Such growing cases of colon carcinoma create demand for various therapeutics to treat colon cancer like partial colectomy, lymph node removal, cryoablation and the use of drugs like ramucirumab and others. Such a growth rate of colon cancer and a surge in demand for therapeutics drive the growth of the Colon Carcinoma Therapeutics Industry over the forecast period 2022-2027.
Colon Carcinoma Therapeutics Market Report Coverage
The report: “Colon Carcinoma Therapeutics Market Forecast (2022-2027)" by Industry ARC, covers an in-depth analysis of the following segments in the Colon Carcinoma Therapeutics Market.
- Geographically, North America held a dominant market share in the year 2021, owing to the growing burden of colon carcinoma in this region fueling the growth of the Colon Carcinoma Therapeutics Market Size in this region.
- The Colon Carcinoma Therapeutics Market is predicted to increase owing to the growing prevalence of colon carcinoid tumors.
- However, the low awareness about colon carcinoma and the lack of better healthcare facilities in underdeveloped countries may limit market growth over the forecast period 2022-2027.
- A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Colon Carcinoma Therapeutics Market Report.
Colon Carcinoma Therapeutics Market: Market Share (%) by region, 2021
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Colon Carcinoma Therapeutics Market Segment Analysis - by Therapy
Colon Carcinoma Therapeutics Market based on therapy can be further segmented into Targeted Therapy, Immunotherapy, Chemotherapy and Others. Targeted Therapy held a dominant share in the year 2021. This is owing to the high success rate of targeted therapy which is higher than chemotherapy. Chemotherapy has a 30% of success rate, while targeted therapy has up to 80% of success rate. Owing to the high success rate of targeted therapy more people are turning to targeted therapy. Such a high success rate of targeted therapy and preference of most people surge demand for targeted therapy and drive the growth of the Colon Carcinoma Therapeutics Market Share.
However, the Immunotherapy segment is estimated to grow with the fastest CAGR of 7.9% over the forecast period 2022-2027. This is owing to benefit of immunotherapy which directly acts on immunotherapy. Also, it guides the immune system to identify and destroy cancer cells. According to ‘Hopkins medicine’, 15-20% of patients achieve durable results with immunotherapy. This benefit of immunotherapy to rejuvenate the immune system fuels the growth of the Colon Carcinoma Therapeutics Market Share over the forecast period 2022-2027.
Colon Carcinoma Therapeutics Market Segment Analysis - by Cancer Type
Colon Carcinoma Therapeutics Market based on the cancer type can be further segmented into Colorectal Adenocarcinoma, Gastrointestinal Carcinoid Tumours and Others. The Colorectal Adenocarcinoma segment held a dominant market share in the year 2021. This is attributed to the high number of colorectal adenocarcinoma cases around the world compared to other types of colon cancer. According to Cancer Center Treatment of America, Adenocarcinoma is the most common type of colorectal cancer and is responsible for 95% of total colorectal cancer cases. Such a high prevalence of colorectal adenocarcinoma drives the growth of the Colon Carcinoma Therapeutics Market Share.
However, Gastrointestinal Carcinoid Tumours are estimated to grow with the fastest CAGR of 8.1% over the forecast period 2022-2027. This is owing to rapid growth in technology and diagnostic techniques to detect and diagnose this type of cancer. According to the research paper published in National Center for Biotechnology Information in June 2019, the majority of carcinoids are found within the gastrointestinal tract (55%) and bronchopulmonary system (30%). Also, about 65% of cases are found with Type I gastric carcinoids, which are the most common type. Such a high prevalence of gastrointestinal carcinoid tumors surges demand for various therapeutics like partial colectomy, growing and cryoablation and increase demand for drugs such as ramucirumab which fuel the growth of the Colon Carcinoma Therapeutics Market Share over the forecast period 2022-2027.
Colon Carcinoma Therapeutics Market Segment Analysis - by Geography
The Colon Carcinoma Therapeutics Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America held a dominant market share of 33% in the year 2021. This is owing to the high prevalence of colon carcinoma in this region. According to American Cancer Organisation, in 2020, there will be an estimated 1,04,610 new cases of colon cancer and 43,340 cases of rectal cancer diagnosed in the United States. According to Cancer. Net in 2022, an estimated 1,51,030 adults in the United States will be diagnosed with colorectal cancer. These numbers include 106,180 new cases of colon cancer (54,040 men and 52,140 women) and 44,850 new cases of rectal cancer (26,650 men and 18,200 women). Such a growth rate of colon carcinoma in this region drive growth of the Colon Carcinoma Therapeutics Market Size.
Furthermore, Asia-Pacific is estimated to grow with the fastest CAGR over the forecast period 2022-2027. This is attributed to the high burden of colon cancer in the Asia-Pacific region. According to International Agency for Research on Cancer (IARC) and World Health Organisation (WHO) report 2022, the burden of colorectal cancer is highest in Asia, where more than half of all cases and deaths are recorded. China alone accounts for more than half a million new cases and more than 280 000 deaths per year. Japan records the second highest number of deaths from colorectal cancer, almost 60 000 per year. Such a high burden of colorectal cancer in this region surges demand cancer therapeutics and drives the growth of the Colon Carcinoma Therapeutics Market Size over the forecast period 2022-2027.
Colon Carcinoma Therapeutics Market Drivers
New Innovative Drugs Launched by Key Market Players Fuels Market Growth.
Treatment for colon cancer usually involves surgery to remove cancer which includes partial colectomy, lymph node removal and cryoablation, with the use of drugs like ramucirumab to treat carcinoid tumors. According to the research paper published in National Center for Biotechnology Information published in June 2021, In the United States, there are about 320,000 colectomies performed annually for benign and malignant diseases, including lymph node removal, laparoscopic, partial colectomy and open colectomies (OC). Owing to such high cases demand for innovative drugs is raised rapidly. In 2022, researchers at Memorial Sloan Kettering Cancer Center (MSK) confirmed a 100% complete response rate in 14 patients who received the immunotherapy treatment dostarlimab as a first-line treatment for mismatch repair-deficient (MMRd) locally advanced rectal cancer. In June 2022, the Food and Drug Administration approved dabrafenib (Tafinlar, Novartis) in combination with trametinib (Mekinist, Novartis) for the treatment of adult and pediatric patients greater than 6 years of age with unresectable or metastatic solid tumors with BRAF V600E mutation who have progressed following prior treatment and have no satisfactory alternative treatment options. Such developments in innovative drugs drive the growth of the Colon Carcinoma Therapeutics Industry over the forecast period 2022-2027.
Increasing Geriatric Population is Enhancing the Industry Expansion.
According to a research paper published in National Center for Biotechnology Information (NCBI), the risk of colon cancer is significantly high in the elder population and approximately 60% of colorectal cancer patients are older than 70. Also, the percentage of the elder population in the total population is also increasing with fast growth. According to a report published by the Department of Economics and Social Affairs, 2020, there are an estimated 727 million persons aged 65 years or over worldwide in the year 2020. And the number is projected to more than double by 2050, reaching over 1.5 billion persons. The share of older persons in the global population is expected to increase from 9.3% in 2020 to 16.0% in 2050. Such fast growth of the geriatric population and a growing number of cases of lymph node removal, a partial colectomy, cryoablation and an increase in demand for drugs like ramucirumab drive the growth of the Colon Carcinoma Therapeutics Industry over the forecast period 2022-2027.
Colon Carcinoma Therapeutics Market Challenge
Lack of Awareness about Colon Carcinoma is Hampering Market Growth
Colon cancer awareness is low in developing nations leading to a shortage of diagnostic facilities, a lack of infrastructure investment in the healthcare sector and other issues like poverty and inadequate education. According to a research report published by NCBI in August 2021, from the study of 422 patients from southwest Ethiopia, it is found that more than half (57.6%) of respondents had low-level awareness of colorectal cancer. Such lack of awareness about colon carcinoma may hamper the growth of the Colon Carcinoma Therapeutics Industry.
Colon Carcinoma Therapeutics Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Colon Carcinoma Therapeutics Market. The top 10 companies in the Colon Carcinoma Therapeutics Market are:
- Genentech Inc.
- Eli Lilly and Company
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Bristol Myers Squibb
- Sanofi S.A.
- Merck Sharp & Dohme Corp.
- Taiho Pharmaceutical (Otsuka Pharmaceutical Co. Ltd.)
- Bayer AG
- Regeneron Pharmaceuticals Inc.
- In March 2022, Teva Pharmaceuticals launched the first generic version of Revlimid®1 (lenalidomide capsules), in 5mg, 10mg, 15mg and 25mg strengths, in the United States. Teva’s Lenalidomide capsules are a prescription medicine used in adults for the treatment of multiple myeloma in combination with the medicine dexamethasone, certain myelodysplastic syndromes and mantle cell lymphoma following specific prior treatment.
- In October 2021, Food and Drug Administration (FDA) approved Tecentriq® (atezolizumab) developed by Genentech as adjuvant treatment following surgery and platinum-based chemotherapy for adults with Stage II-IIIA non-small cell lung cancer (NSCLC). Approval based on the Phase III IMpower010 study showing adjuvant Tecentriq improved disease-free survival by more than one-third in PD-L1-positive Stage II-IIIA lung cancer, compared with best supportive care.
- In August 2021, Sanofi announced to enter into a definitive agreement with Translate Bio, a clinical-stage mRNA therapeutics company for a total equity value of approximately $3.2 billion. The acquisition will accelerate the development of current Sanofi licensed programs in vaccines and the potential to explore other therapeutic areas.
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