A key factor driving the growth of the global colorectal cancer therapeutics market is the introduction of combination therapeutics. Although monotherapy drugs have dominated the colorectal cancer therapeutics market, the combination of these drugs with chemotherapy or other therapeutics increases the therapeutic value. The combination of drugs is helping in overcoming the drawbacks of each therapeutic and enhances the overall outcome in the treatment of colorectal cancer. Further, the combination of therapies can also be used to reduce the spread of the disease and temporarily shrink the cancerous tumor. ERBITUX combined with FOLFIRI is one of the examples of combination therapies.
This global colorectal cancer therapeutics market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global colorectal cancer therapeutics market: Development of small molecule kinase inhibitors
The high-cost involvement, complex development process, and associated side effects are reducing the adoption of biologics in the colorectal cancer therapeutics market. Therefore, many pharmaceutical companies are focusing on the development of low cost, safe, and easy to administer small molecule drugs. Majority of these small molecules act by inhibiting protein kinases. Protein kinases catalyze phosphorylation of different cellular substrates. Although there are various kinase inhibitors available for the treatment of different types of cancer, regorafenib is the only kinase inhibitor available for the treatment of colorectal cancer. As a result, companies are continually striving to develop kinase inhibitors for the treatment of colorectal cancer.
North America led the market in 2018 with a market share of more than 36%, followed by Europe, Asia, and ROW respectively. The dominant market share of North America can be attributed to the high incidence of colorectal cancer and the rising awareness of this cancer in critical countries such as the US and Canada.