The global colorectal cancer drugs market is estimated to grow at a CAGR of 5.0% during the forecast period. Increasing prevalence of colorectal cancer globally, improving healthcare infrastructure across emerging economies, rising health awareness, and growing focus of market players towards the development of cancer drugs and other therapeutic solutions are some of the driving factors for the market growth. Furthermore, rising geriatric population, the increasing advancement of cancer screening tests, and increasing awareness among the population regarding the prevalence of cancer are some of the factors that are contributing towards the growth of the global colorectal cancer drugs market.
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Increasing prevalence and incidence of these types of cancers are fueling the segmental growth of the market. According to the American Cancer Society, colorectal cancer is diagnosed in more than 1.2 million people globally every year, with North America being the most dominant region. Moreover, the World Health Organization (WHO) has stated that the incidence of colorectal cancer is around 93,898 in men and 85,873 in women; whereas, it has caused mortalities to nearly 33,752 men and 30,369 women during 2018. The increasing prevalence of cancers addresses the need for right treatment solutions including drugs; thereby, drives the global colorectal cancer drugs market.
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Market Segmentation
Global Colorectal Cancer Drugs Market by Drug Class Type
- Chemotherapy
- Targeted Therapy
- Immunotherapy
- Hormonal Therapy
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