Colorectal Cancer Treatment Market is expected to reach US$ 23.978 billion by 2030

Publisher: The Insight Partners

Surgery Held Largest Colorectal Cancer Treatment Market Share in 2022

According to our new research study on "Colorectal Cancer Treatment Market Forecast to 2030 – Global Analysis – by Treatment Type, Age Group, and End User," the market is expected to grow from US$ 18.810 billion in 2022 to US$ 23.978 billion by 2030; it is anticipated to record a CAGR of 3.1% from 2022 to 2030. The report emphasizes the trends prevalent in the global market, along with drivers and deterrents affecting its growth.

Growing number of colorectal cancer cases and increasing approvals of targeted therapy and immunotherapy for the treatment of colorectal cancer propels the market growth. However, the high cost of the treatment, followed by the late detection of the disorder, hampers the market growth. A significant rise in personalized medicines to address customer needs is expected to bring new colorectal cancer treatment market trends in the coming years.

Colorectal Cancer Treatment Market, by Region, 2022 (%)

To get sample Copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPRE00038988 Source: The Insight Partners Analysis

Increasing Clinical Trials for Development of Targeted Therapy Acts as Opportunity for Colorectal Cancer Treatment Market

After molecular profiling of colorectal cancer, it is revealed that colorectal cancer is a genetically heterogeneous disease. Every subtype of colorectal cancer has a different prognosis, owing to which the response to the treatment is different. Due to the heterogeneity of colorectal cancer, chemotherapy, radiation therapy, and surgery are generally ineffective in several cases. Therefore, researchers are focusing on developing personalized medicines to treat patients according to their genetic makeup. The genomic profile and biomarkers are also associated with the process of personalized medicine, along with the patient's personal history. The patient's genetic transcriptomic and epigenetic characteristics are evaluated, and the best therapeutic approach and diagnostic testing are identified through personalized medicine.

Targeted therapy is the foundation of personalized medicine and focuses on the current information about the altered route and the components contributing to cancer. Targeted therapy, a type of personalized medicine, is a combination of two or more drugs designed to directly target the cancerous cells. Targeted therapy is designed in a way to selectively eliminate cancerous cells, keeping the function of healthy cells unhampered. With recent developments in medical technologies, the focus on the use of targeted therapy for the treatment of prostate cancer is increasing notably. Scientists are focusing on studying colorectal cancer cell mutations responsible for driving the uncontrolled growth of cancerous cells. There are ongoing clinical trials for targeted therapy that can effectively treat colorectal cancer. For instance, targeted therapies such as MOUNTAINEER-03, HERACLES, and Pyrotinib are in phase III, phase II, and phase II, respectively. Thus, increasing clinical trials for the development of targeted therapy to treat colorectal cancer can create lucrative opportunities for the colorectal cancer treatment market growth during the forecast period.

The colorectal cancer treatment market is segmented into treatment type, age group, end user, and geography. Based on treatment type, the market is segmented into surgery, chemotherapy, targeted therapy, immunotherapy, and others, In 2022, the surgery segment held the largest colorectal cancer treatment market share and is expected to record the highest CAGR during 2022–2030. Surgery is considered the most common treatment for all stages of colorectal cancer. If the cancer is diagnosed in the early stages, then surgical procedures are performed to remove the tumor. As per the American Cancer Society's estimates, about 106,000 new colon cancer cases and ~46,000 new rectal cancer cases were registered in the US in 2023. As per the data provided by the European Cancer Information System, colorectal cancer accounted for about 12.7% of all new cancer cases diagnosed in 2020, and approximately 12.4% of total mortalities were caused by colorectal cancer in 2020 in EU-27 countries. Thus, the rising incidences of colorectal cancer are increasing the number of surgeries to treat colorectal cancer.

Based on age group, the market is segmented into 49 years, 50–64 years, and above 65 years. The age group above 65 years is predicted to record the highest CAGR during 2022–2030. According to an American Cancer Society report, it is estimated that more than half of the new cases diagnosed in the US are aged above 65 years, and more than two-thirds of all colorectal cancer deaths were reported among individuals aged above 65 years.  

Based on end user, the market is divided into hospitals, specialty clinics, home care, and others. The hospitals segment held the largest share of the colorectal cancer treatment market in 2022 and is projected to record the highest CAGR during 2022–2030. The hospital is anticipated to lead the market due to the growing number of colorectal cancer surgeries. Hospitals are complex organizations that provide healthcare services such as disease screening, diagnosis, and treatment with the help of modernized equipment. Thus, the increasing number of admissions in hospitals, coupled with the high prevalence of colorectal cancer due to lifestyle changes, fuels the colorectal cancer treatment market growth for the hospital segment.

Genentech Inc, Eli Lilly and Company, Pfizer Inc, Takeda Pharmaceuticals, Bristol Myers Squibb, Merck, Bayer AG, Regeneron Pharmaceuticals Inc, Novartis AG, and Ipsen Biopharmaceuticals Inc are among the prominent players profiled in the colorectal cancer treatment market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. These companies focus on geographic expansions and new product launches to meet the growing demand from consumers worldwide and increase their product range in specialty portfolios. These initiatives by the companies are expected to increase the colorectal cancer treatment market size during the forecast period.

The colorectal cancer treatment market analysis has been carried out by considering the following segments: treatment type, age group, end user, and geography. The colorectal cancer treatment market, by treatment type, is subsegmented into surgery, chemotherapy, targeted therapy, immunotherapy, and others. Based on age group, the market is further divided into below 49 years, 50–64 years, and above 65 years. In terms of end user, the market is divided into hospitals, specialty clinics, home care, and others. The scope of the colorectal cancer treatment market report encompasses North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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