Global Colorectal Cancer Therapeutics Market Size

Colorectal Cancer Therapeutics Market Analysis

The colorectal cancer therapeutics market is projected to register a CAGR of 6.1% during the forecast period (2022-2027).

Cancer care and maintaining high standards of diagnosis and treatment are top priorities for national health authorities and international health systems around the world. However, the pandemic has shifted that focus away from oncology services. Colorectal cancer patients are particularly vulnerable to disruptions in their care, as endoscopy diagnostics have been stopped due to concerns about viral transmission. Thus, due to the delay in diagnosis COVID-19 had an impact on the colorectal cancer therapeutics market. Various studies have been published on the impact of COVID. For example, a research study published in November 2021 titled "Impact of the COVID-19 pandemic on the diagnosis and treatment of colorectal cancer: a systematic review" stated that the reduction in the diagnosis and treatment of colorectal cancer due to the COVID-19 pandemic, offsetting the reduction and preventing the continuation of this downward trend, it requires serious and effective interventions to prevent its subsequent consequences, including referral of people with advanced stages and urgent conditions, increased treatment costs and reduced quality of life and patient survival. However, the market is likely to grow in the coming future.

The rise in the prevalence of colorectal cancer is one of the key factors driving the growth of the market. According to statistics published by GLOBOCAN, colorectal cancer (CRC) is the fourth most common cause of cancer in the German population, and approximately 57,528 new cases of CRC are reported in Germany in 2020. Additionally, according to statistics provided by GLOBOCAN 2020, approximately 33,815 new cases of colon cancer and 11,951 new deaths are reported in the United Kingdom in 2020. Government initiatives have emerged in the UK to diagnose CRC cases in the population aged 50 and over, as this group has a higher incidence. More than 2,000 lives a year can be saved in the United Kingdom with the right diagnosis. In addition, according to statistics provided by GLOBOCAN, there are approximately 306,078 new cases of colon cancer reported in China for the year 2020. It also reported that the five-year prevalence of colon cancer in China is around 749,096. Product launches are another factor in the growth of the market. For example, in July 2020, Taiho Pharmaceutical Co., Ltd. launched its anticancer drug LONSURF (brand in Japan, trifluridine/tipiracil (FTD/TPI), development code TAS-102) for the treatment of patients with metastatic colorectal cancer (mCRC). Lonsurf was approved in China in August 2019 based on the results of the phase III TERRA study in patients with refractory mCRC in Asia (China, South Korea, and Thailand). Such approvals are expected to boost market growth.

However, high costs and the side effects associated with drugs are likely to hinder the market growth.