The Asia-Pacific cancer therapy market is expected to observe good growth owing to the rising prevalence of cancer, growing government initiatives for cancer awareness, and increasing patient assistance programs (PAPs).
Lung, stomach, colorectum, liver, and esophagus are the most common types of cancer in China. The increasing prevalence of cancer burden and thus, cancer therapies is due to a number of factors, including population growth, aging, environmental pollution, and unhealthy dietary habits. In addition, cigarette smoking, in particular, has also continued to be prevalent in the Asia-Pacific region. The rising prevalence of cancer, thus helps the market to grow over the forecast period.
Key Market Trends
Target Therapy is Expected to Show the Good Growth over the Forecast Period
The target therapy segment is expected to show a good CAGR over the forecast period. The targeted therapy includes hormone therapies, gene expression modulators, apoptosis inducers, angiogenesis inhibitors, immunotherapies, signal transduction inhibitors, and toxin delivery molecules. Targeted therapy is attaining importance due to its specificity toward cancer cells while sparing the toxicity to off-target cells.
The other major factors driving the growth of the segment are an increase in R&D and the rising prevalence of various types of cancer across the globe. Targeted therapy is a treatment for cancer that is unlike the traditional chemotherapy used for cancer. The drugs for target therapy work by targeting the specific genes or proteins that are present in the cancer cells.
Competitive Landscape
The cancer therapy market is highly competitive and consists of several players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence, by introducing new products at cheaper prices.
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