Rapid Growth of Cancer Therapeutics Market Could Reach US$89 Billion by 2011

Expecting more than US$11 billion in new therapeutics to gain approval within the next four years, the global market for cancer therapies is poised to exceed $89 billion in sales by 2011, according to the latest findings from a market research firm.

Forecast to display steady growth of more than 14% from 2006 to 2011, the market reached sales in excess of $46 billion in 2006, increasing by more than 18% over 2004 sales, according to Kalorama Information (Rockville, MD, USA). Led by strong performance in the immunotherapy segment, which currently holds a slightly more than 31% market share, the market is also being strengthened by the radiation therapy segment as well as by product growth in several areas of the adjunctive therapies segment.

Innovation has been and will continue to be critical to growth. In 2006, 26 cancer therapies were approved in the United States, the largest number in history. With more than 50 therapies currently in phase III or awaiting approval, the cancer therapeutics is visibly the forerunner in drug development.

"Targeted cancer therapeutics are an exciting prospect that has the potential to improve patient survival from serious malignancies. Similarly, the prospect of combining new agents with older forms of therapy, such as small molecule chemotherapy or hormonal therapy, also offers promise for improvement in disease outcomes,” noted Melissa Elder, the report's author. "At the same time, the incorporation of molecular tools into contemporary drug development is mandatory if the clinical impact of new anticancer agents is to be realized.”

This study examined the global market for therapies for a broad range of cancers including: bladder, breast, cervical, colorectal, kidney, leukemia, liver, lung, lymphoma, melanoma, multiple myeloma, ovarian, and prostate among others. Therapy types covered in the report include chemotherapy, hormone and radiation therapy, immunotherapy and biotherapy, and adjunctive therapies.

Kalorama Information provides the latest in independent research for medical markets.


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