Targeted Therapeutics Market Size to Reach USD 162.89 Billion in 2028 | Rising Awareness Regarding Molecular Diagnostics and Increasing Global Geriatric Population are Key Factors Driving Industry Demand, says Emergen Research

VANCOUVER, BC, Nov. 17, 2021 /PRNewswire/ --  The global targeted therapeutics market size was USD 93.75 Billion in 2020. Increasing prevalence of cancer, rapid growth of the global geriatric population, high demand for precision medicines, and rising healthcare expenditure are some key factors expected to drive market revenue growth over the forecast period.

Drivers: Rising Demand for Precision Medicine in Cancer Treatment

Demand for precision medicine for cancer treatment has been increasing steadily and is a key factor driving revenue growth of the global targeted therapeutics market. As precision medicine takes into account individual patient's genetic makeup, it helps in overcoming various limitations associated with traditional medicine. Precision medicine, such as targeted therapeutics, helps healthcare providers to shift focus from reaction to prevention and it has been significantly successful in patients with advanced stages of cancer. Targeted therapeutics, with developments in molecular profiling, are being used for multiple tumors, particularly in advanced Non-small-cell Lung Cancer (NSCLC), melanoma, and various kinds of leukemia. As chemotherapy is cytotoxic to different cells leading to destruction of healthy, normal cells, along with cancer cells, demand for targeted therapeutics drugs is rising as these drugs function by blocking cancer cells from spreading.

Restraints: Side-effects and Limitations of Targeted Therapeutics

Concerns associated with side-effects and limitations of targeted therapeutics may hamper market growth over the forecast period. Liver problems and diarrhea are two major side-effects associated with targeted therapeutics. Various other side-effects include issues with wound healing and blood clotting, high blood pressure, mouth sores, hair color loss, fatigue, paronychia and periungual pyogenic granulomas, and skin problems, especially dry or rash skin. Also, one of the limitations of targeted therapeutics is that cancer cells may become resistant to such therapies. Another vital limitation related with targeted therapeutics is that drugs intended for certain identified targets are difficult to develop, owing to the target's structure or cellular function.

Click Here to Access Free sample PDF Copy of the Report@ https://www.emergenresearch.com/request-sample/842

Growth Projections

The global targeted therapeutics market size is expected to reach USD 162.89 Billion and register a revenue CAGR of 7.1% over forecast period. Growing use of targeted therapeutics in the field of personalized medicine for the treatment of cancer is fueling market revenue growth. Increased research & development of tumor heterogeneity has also resulted in the identification of specific targets to improve treatment effectiveness.

COVID-19 Direct Impacts

COVID-19 has substantially impacted targeted therapeutics market growth due to implementation of lockdown norms, reduced visits to clinics, and decreased or postponed diagnosis of cancer treatment, owing to the high priority given to COVID-19 treatment in various healthcare facilities. Also, logistic restrictions have affected the supply of components, drugs, and devices required for diagnosing cancer, thereby hindering market revenue growth.

Current Trends and Innovations

Rising disposable income, particularly in Asia Pacific, and increasing awareness about early cancer diagnosis are some key factors driving market revenue growth. Additionally, rising awareness about molecular diagnostic methods, including liquid biopsy to identify malignancy, is expected to drive market revenue growth to a significant extent in the near future.

Geographical Outlook

Targeted therapeutics market in Asia Pacific is expected to register fastest revenue CAGR over the forecast period, attributed to rising disposable income, increasing initiatives by government bodies to develop more advanced healthcare infrastructure in emerging economies, and higher investment in research & development of novel therapeutics for cancer treatment. Additionally, increasing geriatric population in the region is expected to drive market growth.

Strategic Initiatives

In August 2021, Eli Lilly and Company entered into a licensing agreement with Lycia Therapeutics, Inc. emphasized on research, development, and commercialization of innovative targeted therapeutics deploying proprietary Lysosomal Targeting Chimera (LYTAC), which is a protein degradation technology by Lycia. This technology is used to target the unexploited extracellular proteome such as cell secreted proteins and surface receptors. The LYTAC platform allows development of numerous therapeutic modalities such as small molecules and antibodies, to impede many targets formerly considered intractable for various therapeutic areas and diseases.

Make Payment [Buy your Exclusive copy]@ https://www.emergenresearch.com/select-license/842

Some Key Highlights From the Report

• Apoptosis inducers influence cancer cells to go through a process of controlled cell death known as apoptosis, which is a method used by the human body to get rid of unwanted or abnormal cells. As cancer cells avoid this mechanism used by the human body, apoptosis inducers targeted therapeutics are required to cause cancer cell death.
• Angiogenesis inhibitors are deployed to block the growth of new blood vessels connected to tumors. As the blood supply needed for tumors to grow by providing oxygen and nutrients is inhibited, the tumor is ultimately destroyed.
• By diseases indication, lung cancer segment accounted for significant revenue share in 2020. Lung cancer is one of the most common causes of deaths associated with cancer. In 2018, more than 2 million new cancer cases and more than 1.7 million mortalities were due to lung cancer. Targeted therapeutics is considered a crucial procedure for disease management in patients with NSCLC. Emergence of targeted therapeutics in personalized medicine is very beneficial in improving treatment outcomes and quality of life than chemotherapy. Also, advancements in technologies for identifying actionable genetic lesions and development of novel drugs to block cancer pathways have enabled creation of tailored treatment options.
• Some major companies profiled in the market report are Amgen Inc., Genentech Inc., Arcus Biosciences Inc., Gilead Sciences Inc., AstraZeneca PLC, Serina Therapeutics Inc., F. Hoffmann-La Roche & Co., Agenus Inc., Pfizer Inc., and Aurinia Pharmaceutical Inc.

Emergen Research has segmented global targeted therapeutics market on the basis of therapy, disease indication, end-use, and region:

• Therapy Outlook (Revenue, USD Billion; 2018–2028)
• Monoclonal Antibodies
• Small Molecule Inhibitors
• Disease Indication Outlook (Revenue, USD Billion; 2018–2028)
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Prostate Cancer
• Leukemia
• Lymphoma
• Multiple Sclerosis
• Melanoma
• Others
• End-use Outlook (Revenue, USD Billion; 2018–2028)
• Hospitals
• Cancer Treatment Centers
• Research Institutes
• Others

Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/targeted-therapeutics-market

• Regional Outlook (Revenue, USD Billion; 2018–2028)
• North America
  a.  U.S.
  b.  Canada
  c.  Mexico
• Europe
  a.  Germany
  b.  U.K.
  c.  France
  d.  Italy
  e.  Spain
  f.  Sweden
  g.  BENELUX
  h.  Rest of Europe
• Asia Pacific
  a.  China
  b.  India
  c.  Japan
  d.  South Korea
  e.  Rest of APAC
• Latin America
  a.  Brazil
  b.  Rest of LATAM
• Middle East & Africa
  a.  Saudi Arabia
  b.  UAE
  c.  South Africa
  d.  Israel
  e.  Rest of MEA

Explore more reports offered by Emergen Research:

The global patient engagement solutions market is estimated to grow at a CAGR of 15.1% from USD 11.77 billion in 2019 to USD 41.20 billion in 2027. The patient engagement solutions market is driven mainly by the growing use of electronic health records for patient-centered care and the adoption of mobile health apps.

The global regenerative medicine market is estimated to grow at a CAGR of 9.3% from USD 3.05 billion in 2019 to USD 6.49 billion in 2027. A strong product pipeline and government and private investment to support research are expected to fuel growth in clinical trials.

The global next generation sequencing market is forecasted to grow at a rate of 10.9% from USD 9.67 Billion in 2019 to USD 23.59 Billion in 2027. The reduction of sequencing costs is projected to lead to a large number of clinical areas in the Next Generation Sequencing (NGS).

The global RFID in healthcare market is forecasted to grow at a rate of 15.0% from USD 3.69 Billion in 2019 to USD 12.89 Billion in 2027. Certain factors, such as a growing operational cost savings necessity, the implementation of RFID in health care, and patient safety requirements, are driving the market.

The global Newborn Screening Market is forecasted to grow at a rate of 10.3% in terms of value, from USD 1.03 billion in 2019 to reach USD 2.27 billion by 2027. Growing neonatal population base, increasing Newborn congenital disease events, favorable government initiatives & regulations, and developments in technology are expected to serve as critical drivers of the Newborn screening market.

About Emergen Research 

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com 
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com 
Explore Our Custom Intelligence services | Growth Consulting Services 
Facebook | LinkedIn | Twitter | Blogs 
Read Full Press Release@ https://www.emergenresearch.com/press-release/global-targeted-therapeutics-market

Logo: https://mma.prnewswire.com/media/1579538/Emergen_Research_Logo.jpg