Rise in Prevalence of Cancer to Boost Global Silent Cancer Therapeutics Market
- Cancer has a major impact on society across the world. According to the WHO, cancer is the second leading cause of death in the world. In 2018, over 9.6 million people succumbed to cancer globally. More than 70% of deaths due to cancer occur in low to middle income countries. Rise in prevalence of cancer has led to the introduction of novel therapeutics in the market.
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- Silent cancer therapeutics are targeted at cancers that are diagnosed at a late stage. Due to the asymptomatic nature of these diseases, diagnosis becomes difficult till the disease progresses to an advanced stage. Some silent types of cancer include ovarian cancer, pancreatic cancer, prostate cancer, esophagus cancer, liver cancer, and kidney cancer.
- Prostate cancer is a slow progressing cancer in men, and mostly occurs after the age of 60–65. Ignorance of prostate cancer symptoms generally leaves most of the male population undiagnosed. There is a large undiagnosed patient pool of prostate cancer globally, especially in developing countries where the health care facilities are not capable enough to take care of the diseased population.
- Reduced morbidity rate in the developed economies increase the geriatric population and is considered to be one of the major causes of different types of cancer. According to the Prostate Cancer Foundation, majority of prostate cancer cases are diagnosed in men over 65. Hence, sedentary lifestyle of people in the developed countries, consistent rise in the geriatric population, and increase in prevalence of obesity at an early age augment the prevalence of cancer globally.
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- According to the Centers for Disease Control and Prevention, half of all colorectal and cervical cancers in the U.S. are not diagnosed until stage three or four, which means the tumors have already migrated to other organs and tissues
Key Drivers and Restraints of Global Silent Cancer Therapeutics Market
- Introduction of highly sensitive molecular techniques such as digital PCR (dPCR) and next generation sequencing (NGS) has enabled researchers to detect the presence of cancer genomic material in peripheral biofluids. These innovative technologies provide a comparatively less invasive and less expensive method of diagnosis, prognosis, and therapy selection in patients during their treatment plan.
- Increase in research and development activities for cancer diagnostics and therapeutics is anticipated to drive the global Silent cancer therapeutics market. Major cancer diagnostics companies are entering into strategic alliances with pharmaceutical companies to develop anti-cancer drugs and imaging tests in order to attain leadership position in the cancer diagnostics market.
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- Biocept, Inc. entered into an agreement with a biopharmaceutical company to develop targeted liquid biopsy tests for multiple tumor types and molecular targets. In January 2016, QIAGEN and Tokai Pharmaceuticals entered into a partnership to commercialize the first regulated CTC-based companion diagnostic for prostate cancer.
Silent Cancer Therapeutics to Witness High Demand
- The global silent cancer therapeutics market can be segmented based on type of cancer, mode of treatment, and region. In terms of type of cancer, the global silent cancer therapeutics market can be classified into ovarian cancer, prostate cancer, pancreatic cancer, renal cancer, liver cancer, cervical cancer, brain cancer, and others.
- Based on mode of treatment, the global silent cancer therapeutics market can be categorized into chemotherapy, radiotherapy, targeted therapy, and others
Asia Pacific to Lead Global Silent Cancer Therapeutics Market
- In terms of region, the global silent cancer therapeutics market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is likely to witness significant demand for silent cancer therapeutics from 2019 to 2027. High prevalence of cancer along with low diagnosis rate and developing health care infrastructure in emerging countries such as China and India are projected to drive the silent cancer therapeutics market in the region.
- According to the Indian Council of Medical Research (ICMR) data, around 800,000 new cancer cases were diagnosed in India in 2015, and 70% of these cases were detected in the advanced stage, showing poor survival and high mortality rates.
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Key Manufacturers in Global Silent Cancer Therapeutics Market
The global silent cancer therapeutics market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Hoffmann-La Roche AG
- AbbVie, Inc.
- Johnson & Johnson
- Celgene Corporation
- Astellas Pharma, Inc.
- Novartis AG
- Eli Lilly and Company
- Merck KGaA
- Bristol-Myers Squibb Company
- Bayer AG
- Takeda Pharmaceutical Company Limited
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