Colon and Rectal Cancer Drugs Market Current Industry Trend, Latest Development, Growth Estimation, Analysis by Size, Share, Global Demand Till 2027
SEATTLE, April 09, 2021, (PHARMIWEB) — Global Colon and Rectal Cancer Drugs Market
Colon and rectal cancer are often grouped together, as both the conditions hold many features in common. Rate of colorectal cancer is increasing among the millennials in the U.S. As estimated by the American Cancer Society (ACS), around 97,220 new cases of colon cancer and around 43,030 new cases of rectal cancer were registered in the U.S. in 2018. Moreover, owing to increasing risk of colorectal cancer, in May 2018, ACS updated their guidelines for colorectal cancer screenings and recommended to start colorectal cancer screening at the age of 45 years, rather than at the age of 50 years.
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Global Colon and Rectal Cancer Drugs Market Dynamics
Surging prevalence of colon and rectal cancer worldwide, along with the increasing research and development studies for colorectal cancer treatment is expected to drive growth of colon and rectal cancer market in the near future. For instance, according to February 2018 data findings of the American Cancer Society (ACS), colorectal cancer is the third most common cancer diagnosed in both men and women in the U.S.
As per the Center for Disease Control and Prevention (CDC), in 2014, around 139,992 people in the U.S. were diagnosed with colorectal cancer, including 73,396 men and 66,596 women. Among which, around 51,651 people in the U.S. died due to colorectal cancer, including 27,134 men and 24,517 women. Furthermore, according to 2012 data findings of the World Health Organization (WHO), colorectal cancer is the third most common cancer in men (746,000 cases, 10.0% of the total) and the second most common in women (614,000 cases, 9.2% of the total) worldwide, in 2012. Furthermore, around 55% of these cases occurred in the developed regions of the world.
Increasing number of research and development (R&D) studies by government and private healthcare organizations is also fueling growth of colon and rectal cancer drugs market. For instance, the American Cancer Society (ACS) spent US$ 54 million on colon and rectal cancer research involving 92 research grants until March 2018.
Lack of development in the neoadjuvant/adjuvant pipeline agents for the treatment of high risk colorectal cancer resulted in slower growth of colon and rectal cancer drugs market. For instance, according to the data published in the National Center for Biotechnology Information (NCBI) in April 2016, there is lack of clinical trials of systemic adjuvant, neoadjuvant, and perioperative chemotherapy for the treatment of colorectal liver metastases (CRLM). These offers lucrative opportunity for the key players to develop new treatment therapy using neoadjuvant agents for resected patients.
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Furthermore, improper reimbursement policies for colorectal cancer treatment in certain countries are said to impede the growth of the global colon and rectal cancer drugs market. According to the comparison study published in the American Society of Clinical Oncology (ASCO) 2018 meeting, treatment cost of metastatic colorectal cancer in Western Washington (U.S.) is higher than the province of British Columbia (BC) in Canada, with no significant difference in the outcomes.
Global Colon and Rectal Cancer Drugs Market – Regional Analysis
North America, followed by Europe, holds the most dominant position in the global colon and rectal cancer drugs market, owing to increasing incidence rate of colorectal cancer in the region. According to the World Cancer Research Fund International, in 2012, Republic of Korea had the highest rate of colorectal cancer, and was followed by Slovakia and Hungary. Furthermore, since few years, large number of colorectal cancer incidences were registered in Oceania and Europe region, while it shows lowest incidence rates in Africa and Asia.
Global Colon and Rectal Cancer Drugs Market – Competitive Analysis
Some of the key players operating in the global colon and rectal cancer drugs market include Amgen Inc., AstraZeneca Plc, Bayer AG, Boehringer Ingelheim, Bristol-Myers Squibb, Daiichi Sankyo Company, Merck KGaA, Novartis International AG, Sirtex Medical Limited, Sanofi S.A. Sorrento Therapeutics, and Takeda Pharmaceutical Company Ltd.
These players are actively involved in research and development activities to conduct clinical trial studies and gain regulatory approvals. For instance, in March 2018, Daiichi Sankyo initiated phase II study of DS-8201 in patients with HER2-expressing advanced colorectal cancer. Currently, there is no HER2 – targeting therapy approved for patients suffering from HER2- expressing colorectal cancer. Initiation of HER2 phase clinical trial study by Daiichi Sankyo for colorectal cancer treatment will help to improve the outcomes in colorectal cancer patients. In March 2018, FDA approved Bristol-Myers Squibb’s Opdivo (nivolumab) injection, which is administrated intravenously for the treatment of adult and pediatric (12 years and older) patients who suffer from microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) metastatic colorectal cancer.
By Drug Type:
- Single Drug
- Colon Cancer
- Rectal Cancer
- Irinotecan Hydrochloride
- Combination Drug
- Colon Cancer
- Rectal Cancer
- Colon Cancer
- Colon Cancer
By Distribution Channel:
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Latin America
- Asia Pacific
- Middle East
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