Colon and Rectal Cancer Drugs Market Opportunity Analysis, 2018 – 2026
Colon and rectal cancer are often grouped together, as they have many common features. Rate of colorectal cancer is increasing among the millennials in the U.S. The American Cancer Society (ACS) estimates that there will be around 97,220 new cases of colon cancer and around 43,030 new cases of rectal cancer 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 rather than at the age of 50.
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Increasing incidence and prevalence of colon and rectal cancer, worldwide and 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.
Moreover, according to 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 developed regions.
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) spend US$ 54 million on colon and rectal cancer research involving 92 research grants, till 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.
On the basis of region, the global colon and rectal cancer drugs market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds dominant position in the colon and rectal cancer drugs market, followed by Europe. This is owing to increasing incidence rate of colorectal cancer in these regions. According to the World Cancer Research Fund International, in 2012, Republic of Korea had the highest rate of colorectal cancer, 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 region.
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Key Vendors:
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.
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