Targeted therapies are drugs or other substances that block the growth of unwanted cells and pathogens by interfering with specific molecules (“molecular targets”) involved in the growth, progression, and spread of disease. Targeted therapies are sometimes called molecularly targeted drugs, molecularly targeted therapies, precision medicines, etc. The emerging field of target therapeutics offers varied potential treatments. Target therapies involves a wide range of therapies, such as, gene therapy, which uses genetic material to alter cells (either in vivo or in vitro) to help cure disease , and stem cell therapy, that can be obtained from a very initial stage in human development and has the prospect to develop all the cell types in the human body. Targeted therapies offer the possibility of finding a cure for diseases with significant unmet needs, including orphan diseases and diseases having a high burden globally.
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Rise in the number of newly diagnosed patients, rigorous research & development activities, adverse side effects of conventional therapies, and a rise in public awareness toward chronic illnesses across the world are the major factors driving the growth of the global targeted therapeutics market. Additionally, favorable reimbursement policies available in developed countries are projected to boost the growth of the targeted therapeutics market. However, high cost of the treatment, lack of favorable reimbursement schemes in developing economies, unavailability of the treatment in the Asian and African countries, such as, Thailand and the Philippines, and a shortage of skilled professionals are likely to restrain the growth of the targeted therapeutics market during the forecast period. Nevertheless, there are a number of late-stage pipeline candidates that are expected to generate strong annual revenue during the forecast period; for example, PD-1 inhibitor durvalumab for bladder cancer, head and neck cancer, liver cancer, renal cell carcinoma and the CDK-4 and -6 inhibitor abemaciclib for glioblastoma, liposarcoma, and mantle-cell lymphoma. Newer CAR-T cell therapies, Tisagenlecleucel-T and KTE-C19, are also expected to make an entry into the market and generate blockbuster revenues.
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The global targeted therapeutics market can be segmented based on drug type, application type, distribution channel, and region. In terms of drug type, the targeted therapeutics market can be divided into monoclonal antibody therapeutics, protein/peptide therapeutics, small molecule drugs, RNA interference, stem cell therapy, and gene therapy. The monoclonal antibodies segment is likely to hold the leading share of the market during the forecast period; there are currently 73 monoclonal antibodies (mAb) approved for various indications with the purpose of extending the patient’s lifespan. The current market leader is Humira, which generated revenue of US$ 18.4 Bn in 2017 across a number of indications. Based on application, the market can be classified into immunology, oncology, infectious diseases, and others. Oncology is projected to be the leading segment of the market, in terms of market share, during the forecast period due to the high prevalence of the disorder and high level of use of immunotherapies in treatment regimes. Pharmaceutical companies worldwide are focused on developing target therapies to combat cancer at all stages and also for the treatment of the disease. In terms of the distribution channel, the market can be categorized into drug stores, retail pharmacies, hospital pharmacies, and online sales.
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Geographically, the global targeted therapeutics market can be segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2016. Usage of targeted therapies is high in North America primarily due to steady approval for new indications and research undertakings and increasing geriatric population in the region. According to the Immune Deficiency Foundation, currently around 55,000 people in the U.S. with antibody deficiency receive primary immunodeficiency diseases treatment. Expected launch of targeted therapies in immunology and oncology that are presently in clinical trials in the U.S. is likely to boost the market growth in the region. Europe is expected to be the second-leading market for targeted therapeutics during the forecast period. Growth of the market in the region can be attributed to availability of several biologic drugs, such as, Rituxan, Humira, Enbrel, and others. The targeted therapeutics market in Asia Pacific is expected to register significant growth during the forecast period due to development of health care infrastructure, high disposable income of people, rise in health and hygiene-related awareness, large untapped market base, and economic development in the region.
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Key players operating in the global targeted therapeutics market include Novartis AG, Amgen, Inc., Pfizer, Inc., GlaxoSmithKline plc., Merck & co., Sanofi, and Bristol-Myers Squibb Company. Several companies are developing targeted therapeutics. These include diversified companies developing targeted therapeutics as a part of their broad product portfolio, to highly specialized companies, focusing exclusively or near-exclusively on target therapeutics development.
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