The global colorectal cancer therapeutics market accounted for USD 12.16 billion in 2023 and is expected to reach at USD 20.34 billion by 2034 with a CAGR of 4.79% during the forecast period 2024-2034. Increasing incidence of colorectal cancer, surge in advancements in screening & diagnostics, growing need for enhanced treatments, rising introduction of new front-line therapies, increase in promising pipeline products, surge in favorable government initiatives aiming to provide more accessible and cost-effective treatments, growing aging population, heightened awareness of the disease, and increase in regulatory approvals for novel drug products are the leading factors fuelling the market growth.
Increase in regulatory approvals for novel drug products is predicted to boost the market growth during the forecast period. The treatment of colorectal cancer involves a range of medications designed specifically for this condition. While colorectal cancer predominantly affects older adults, it can also occur across all age groups. Symptoms associated with colorectal cancer include weight loss, fatigue, abdominal discomfort, changes in bowel habits such as diarrhea or constipation, cramps, rectal bleeding, and presence of blood in the stools, among others. For instance, in June 2023, The FDA in the United States has granted approval for FoundationOneLiquid CDx, a genomic profiling test that can identify patients with BRAF V600E Alterations in metastatic colorectal cancer cases.
By type, immunotherapy was the highest revenue-grossing segment in the global colorectal cancer therapeutics market in 2023 owing to increasing research & development activities and surge in collaborations among market players. For instance, in January 2023, Akeda, a Japanese company, has formed a partnership with Hutchmed, based in Hong Kong, to acquire commercial rights for the colorectal cancer drug fruquintinib outside of China. Roche is assessing the combination of targeted therapy (Cotellic) with immuno-oncologic agents for CRC treatment. These advancements are expected to stimulate fresh developments and expansion within the market. Additionally, chemotherapy is predicted to grow at the fastest CAGR during the forecast period owing to the surge in product approvals, growing clinical trial procedures.
By end-user, hospitals was the highest revenue-grossing segment in the global colorectal cancer therapeutics market in 2023 owing to surge in number of patients suffering from colorectal cancer, growing clinical trail procedures, and rising approvals by regulatory authorities. For instance, in April 2022, Amneal Pharmaceuticals has disclosed that the US FDA has granted approval for the third biosimilar of the monoclonal antibody bevacizumab, known as bevacizumab-maly (Alymsys), for treating specific patient groups with colorectal cancer, non-small cell lung cancer, glioblastoma, renal cell carcinoma, cervical cancer, and ovarian cancer. Additionally, clinics is anticipated to grow at the fastest CAGR during the forecast period owing to the surge in launch of new treatment options for colorectal cancer and growing focus on the development of novel therapies.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in colorectal cancer (CRC) incidence, increasing alcohol consumption, growing elderly population, and surge in collaborations among industry players. For instance, in January 2022, Amgen and Generate Biomedicines have established a research collaboration agreement aimed at exploring and creating protein therapeutics for five clinical targets spanning various therapeutic areas and modalities. This partnership will enhance drug discovery endeavors, producing innovative protein sequences with optimal therapeutic attributes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing involvement of various organizations for awareness programs on colorectal cancer and increase in approvals by regulatory authorities. For instance, in March 2022, Chugai Pharmaceutical Co., Ltd. has received regulatory approval from the Ministry of Health, Labour and Welfare (MHLW) for the use of anti-HER2 humanized monoclonal antibodies, Perjeta and Herceptin, via intravenous infusion. This approval extends to their additional indication for advanced or recurrent HER2-positive colon cancer or rectal cancer not suitable for curative resection after cancer chemotherapy.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Increase in regulatory approvals for novel drug products is predicted to boost the market growth during the forecast period. The treatment of colorectal cancer involves a range of medications designed specifically for this condition. While colorectal cancer predominantly affects older adults, it can also occur across all age groups. Symptoms associated with colorectal cancer include weight loss, fatigue, abdominal discomfort, changes in bowel habits such as diarrhea or constipation, cramps, rectal bleeding, and presence of blood in the stools, among others. For instance, in June 2023, The FDA in the United States has granted approval for FoundationOneLiquid CDx, a genomic profiling test that can identify patients with BRAF V600E Alterations in metastatic colorectal cancer cases.
By type, immunotherapy was the highest revenue-grossing segment in the global colorectal cancer therapeutics market in 2023 owing to increasing research & development activities and surge in collaborations among market players. For instance, in January 2023, Akeda, a Japanese company, has formed a partnership with Hutchmed, based in Hong Kong, to acquire commercial rights for the colorectal cancer drug fruquintinib outside of China. Roche is assessing the combination of targeted therapy (Cotellic) with immuno-oncologic agents for CRC treatment. These advancements are expected to stimulate fresh developments and expansion within the market. Additionally, chemotherapy is predicted to grow at the fastest CAGR during the forecast period owing to the surge in product approvals, growing clinical trial procedures.
By end-user, hospitals was the highest revenue-grossing segment in the global colorectal cancer therapeutics market in 2023 owing to surge in number of patients suffering from colorectal cancer, growing clinical trail procedures, and rising approvals by regulatory authorities. For instance, in April 2022, Amneal Pharmaceuticals has disclosed that the US FDA has granted approval for the third biosimilar of the monoclonal antibody bevacizumab, known as bevacizumab-maly (Alymsys), for treating specific patient groups with colorectal cancer, non-small cell lung cancer, glioblastoma, renal cell carcinoma, cervical cancer, and ovarian cancer. Additionally, clinics is anticipated to grow at the fastest CAGR during the forecast period owing to the surge in launch of new treatment options for colorectal cancer and growing focus on the development of novel therapies.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in colorectal cancer (CRC) incidence, increasing alcohol consumption, growing elderly population, and surge in collaborations among industry players. For instance, in January 2022, Amgen and Generate Biomedicines have established a research collaboration agreement aimed at exploring and creating protein therapeutics for five clinical targets spanning various therapeutic areas and modalities. This partnership will enhance drug discovery endeavors, producing innovative protein sequences with optimal therapeutic attributes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing involvement of various organizations for awareness programs on colorectal cancer and increase in approvals by regulatory authorities. For instance, in March 2022, Chugai Pharmaceutical Co., Ltd. has received regulatory approval from the Ministry of Health, Labour and Welfare (MHLW) for the use of anti-HER2 humanized monoclonal antibodies, Perjeta and Herceptin, via intravenous infusion. This approval extends to their additional indication for advanced or recurrent HER2-positive colon cancer or rectal cancer not suitable for curative resection after cancer chemotherapy.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Type and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Colorectal Cancer Therapeutics Market Report 2023 - 2034
Colorectal Cancer Therapeutics Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Immunotherapy
- Chemotherapy
- Others
Colorectal Cancer Therapeutics Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Clinics
- Others
Colorectal Cancer Therapeutics Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Colorectal Cancer Therapeutics Market: Type Estimates & Trend Analysis
8. Colorectal Cancer Therapeutics Market: End-user Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Colorectal Cancer Therapeutics Market
11. Europe Global Colorectal Cancer Therapeutics Market
12. Asia Pacific Global Colorectal Cancer Therapeutics Market
13. Latin America Global Colorectal Cancer Therapeutics Market
14. MEA Global Colorectal Cancer Therapeutics Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Bristol-Myers Squibb Company
- Amgen Inc.
- Bayer AG
- Sanofi
- Merck & co. Inc.
- Lilly
- F. Hoffmann-La Roche Ltd.
