Targeted Therapeutics Market (By Type: Monoclonal Antibodies and Small Molecule; By Application: Breast Cancer, Colorectal Cancer, Lung Cancer, Renal Cancer, and Others; By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 - 2032
The global targeted therapeutics market size accounted for USD 70 billion in 2022, and it is expected to hit around USD 137.05 billion by 2032, poised to grow at a CAGR of 7% from 2023 to 2032.
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The U.S. targeted therapeutics market reached USD 15.43 billion in 2022 and predicted to grow around USD 29.65 billion by 2032, growing at a CAGR 6.80% between 2023 to 2032.
Based on region, North America segment accounted largest revenue share in 2022 and is estimated to sustain its dominance during the forecast period. This can be attributed to the rapid growth of the biologics industry in North America. The availability of numerous biotechnology companies in the region has exponential contribution in the market growth. Further, rising investments coupled with the government’s support to develop and expand the biopharmaceutical production facilities is expected to drive the targeted therapeutics market in North America.
The Asia Pacific is estimated to be the most opportunistic market during the forecast period. This is due to the rising consumer awareness regarding the availability of targeted therapeutics, rising prevalence of cancer and other chronic diseases, increasing disposable income, rising popularity of health insurance, and rapidly growing healthcare infrastructure. Moreover, the consumers have gained confidence regarding the safety and effectiveness of the targeted therapeutics owing to its ability to block the expansion of cancer cells with damaging the normal cells. This reduces the risk of side effects of cancer treatment.All these factors are expected to drive the market growth in the Asia Pacific region during the forecast period.
The targeted therapeutics market is primarily driven by the growing burden of serious diseases such as cancer, leukemia, lymphoma, and muscular degeneration across the globe. The global cancer cases are predicted to grow by 47% from 2020 to 2040. It is anticipated that 28.4 million cases will be recorded in 2040, globally. Targeted therapeutics is a treatment that precisely uses drugs to target the cancer cells and prevents the normal cells from getting affected by the drugs. Furthermore, the rising awareness regarding the availability of targeted therapeutics among the population is boosting the growth of the global market. Rising investments towards the research activities for the protein and DNA changes that drives the cancer cells is expected to offer effective treatment through targeted therapeutics.
The cancer cells have a tendency to conceal itself from the human immune system. Therefore, the targeted therapeutics are proven effective to find such hidden cancer cells in the human body and treat those cells without affecting the normal cells. The rapid growth and popularity of the biologics has contributed towards the market growth. Increased investment in the field of biotechnology is propelling the growth of the global targeted therapeutics market. The monoclonal antibodies is one of the best selling drugs that emerged as a result of the rapid growth and development of the biologics industry. The targeted therapeutics is also effective in blocking the tumor cell proliferation. The targeted therapeutics market is boosted with the rising penetration of pharmacies across the globe. The rapidly growing online pharmacies is expected to foster the sales of the targeted therapeutic drugs in the upcoming years. Further, increasing government expenditure on the development of sophisticated healthcare infrastructure is another important factor that will play a crucial role in the growth of the global targeted therapeutics market.
Targeted Therapeutics Market Scope
| Report Highlights | Details |
| Market Size in 2023 | USD 74.55 Billion |
| Market Size by 2032 | USD 137.05 Billion |
| Growth Rate from 2023 to 2032 | CAGR 7% |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Type, Application, Distribution Channel, Geography |
| Companies Mentioned | Pfizer, Inc., Agenus, Inc., AstraZeneca Plc., Amgen, Inc., F. Hoffmann-La Roche & Co., Genentech, Inc., Serena Therapeutics Inc., Celdara Medical LLC, Arcus Biosciences, Inc., Aurinia Pharmaceuticals Inc., Gilead Sciences, Inc., Nektar Therapeutics Inc. |
Based on type, the monoclonal antibodies segment accounted largest revenue share in 2022. The monoclonal antibodies are the most effective drugs used in the treatment of various types of cancer. It is safer and has lower toxicity as compared to that of the traditional chemotherapy used in the cancer treatment. Therefore, the reduced side effect along with the effective treatment of cancer has boosted the growth of this segment.
The small molecule segment is expected to be the fastest-growing segment during the forecast period. The small molecule drugs are very much effective in targeting the specific cancer cells. The small molecule is getting traction in the developed markets for the treatment of malignancies. In 2022, the FDA approved around 89 anti-tumor small molecule drugs. Thus, this segment is expected to drive the growth of the targeted therapeutics market during the forecast period.
Based on application, the lungs cancer hit largest revenue share in 2022 and is projected to sustain its dominance over the forecast period 2023 to 2032. This can be attributed to the increased cases of lung cancer and associated death across the globe. According to the International Agency for Research on Cancer, lung cancer was the leading cause of cancer deaths that accounted for around 18% of the global cancer deaths. Therefore, the increased demand for the treatment of lungs cancer has contributed significantly towards the growth of this segment.
The breast cancer is expected to be the fastest-growing segment during the forecast period. The breast cancer has become the most commonly diagnosed type of cancer, surpassing the lung cancer in 2022. The increasing cases of breast cancer among the global women population is expected to drive the growth of this segment.
Distribution Channel Insights
Based on distribution channel, in 2022, the hospital pharmacies segment hit largest revenue share and is estimated to sustain its dominance during the forecast period. The increasing expenditure of the public and private organizations to develop the hospital infrastructure and supply the essential drugs to ensure it’s availability in hospital pharmacies has boosted the segment’s growth in the past years.
On the other hand, the online pharmacies is estimated to be the most opportunistic segment during the forecast period. The rapid penetration of internet, rapidly growing online pharmacies, and increasing adoption of smartphones are the several factors that are responsible for the growth of the online pharmacies segment across the globe.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
In September 2020, Sanofi completed the acquisition of Principia Biopharma to strengthen its areas of allergic diseases and autoimmune diseases.
The various developmental strategies like acquisitions and mergers fosters market growth and offers lucrative growth opportunities to the market players.
Segments Covered in the Report
By Type
By Application
By Distribution Channel
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Targeted Therapeutics Market
5.1. COVID-19 Landscape: Targeted Therapeutics Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Targeted Therapeutics Market, By Type
8.1. Targeted Therapeutics Market, by Type, 2023-2032
8.1.1. Monoclonal Antibodies
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Small Molecule
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Targeted Therapeutics Market, By Application
9.1. Targeted Therapeutics Market, by Application, 2023-2032
9.1.1. Breast Cancer
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Colorectal Cancer
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Lung Cancer
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Renal Cancer
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Targeted Therapeutics Market, By Distribution Channel
10.1. Targeted Therapeutics Market, by Distribution Channel, 2023-2032
10.1.1. Hospital Pharmacies
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Retail Pharmacies
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Online Pharmacies
10.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Targeted Therapeutics Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Type (2020-2032)
11.1.2. Market Revenue and Forecast, by Application (2020-2032)
11.1.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Type (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Type (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Application (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Type (2020-2032)
11.2.2. Market Revenue and Forecast, by Application (2020-2032)
11.2.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Type (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Type (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Application (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Type (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Type (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Application (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Type (2020-2032)
11.3.2. Market Revenue and Forecast, by Application (2020-2032)
11.3.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Type (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Type (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Type (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Type (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Application (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Type (2020-2032)
11.4.2. Market Revenue and Forecast, by Application (2020-2032)
11.4.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Type (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Type (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Type (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Type (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Application (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Type (2020-2032)
11.5.2. Market Revenue and Forecast, by Application (2020-2032)
11.5.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Type (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Type (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Application (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Distribution Channel (2020-2032)
Chapter 12. Company Profiles
12.1. Pfizer, Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. AstraZeneca Plc.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Amgen, Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. F. Hoffmann-La Roche & Co.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Genentech, Inc.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Agenus, Inc.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Celdara Medical LLC
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Arcus Biosciences, Inc.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Aurinia Pharmaceuticals Inc.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Gilead Sciences, Inc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Serena Therapeutics Inc.
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
12.12. Nektar Therapeutics Inc.
12.12.1. Company Overview
12.12.2. Product Offerings
12.12.3. Financial Performance
12.12.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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