The global colorectal cancer therapeutics market size is projected to reach USD 16.58 billion by 2026, owing to the rise in the prevalence of colorectal cancer worldwide. A report by Fortune Business Insights™ titled, “Colorectal Cancer Therapeutics Market Size, Share & Industry Analysis, By Therapy (Targeted Therapy, Immunotherapy, Chemotherapy, Others), By Cancer Type (Colorectal Adenocarcinoma, Gastrointestinal Carcinoid Tumors, Others), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019-2026,” provides a detailed analysis of the same.

An Overview of the Impact of COVID-19 on this Market:

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According to the report, the colorectal cancer drugs market was valued at USD 9.26 billion in 2018. The forecast period is set from 2019 to 2026, and the market is likely to exhibit a CAGR of 7.6%.As per current colorectal cancer therapeutics market trends, the targeted therapy segment is dominating the market in terms of therapy. This is attributed to the presence of a large number of prominent targeted cancer therapies such as Stivarga, Erbitux, and Avastin.

Rise in Disposable Incomes and Increasing Awareness about Therapeutic Procedures to Help Asia Pacific Witness Rapid Growth

Geographically, North America is leading the market with a high prevalence of colorectal cancer. In 2018, North America earned USD 4.13 billion, owing to the new product launches in and around the region. Thus, the factors mentioned above are likely to help this region continue dominating the market in the future too.

On the other side, the continuously improving healthcare infrastructure, coupled with the rise in disposable incomes of people in Asia Pacific is expected to boost the regional market in the forecast period. Colorectal cancer is a major reason for the rise in mortality rates, coupled with the rising awareness about colorectal cancer therapeutics that will help this region attract high colorectal cancer therapeutics market revenue in the near future.

Merck Sharp & Dohme Corp, Genentech, Inc., and Bristol Myers Squibb Holding Leading Market Position

Major vendors in the colorectal cancer therapeutics market are focusing on research and development of novel colorectal cancer therapeutics. Currently, companies such as Bristol Myers Squibb, Genentech, Inc., and Merck Sharp & Dohme Corpare dominating the market. This is owing to the robust pipeline candidates, key strategic decisions, and the presence of a strong oncology portfolio. The overall colorectal cancer therapeutics market is subject to a number of biosimilar launches and has a strong presence of generics, especially for chemotherapy.

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