Market Trends of Europe Cancer Therapeutics Industry
This section covers the major market trends shaping the Europe Cancer Therapeutics Market according to our research experts:
Target Therapy is Expected to Witness Significant Growth over the Forecast Period (2022-2027)
Targeted therapy is a treatment used for cancer, in which the drugs work by targeting the specific genes or proteins that are present in the cancer cells. There are several types of targeted therapies for cancers, such as hormone therapies, gene expression modulators, apoptosis inducers, angiogenesis inhibitors, signal transduction inhibitors, and many other therapies.
The major factors driving the growth of the target therapy segment are the increase in product launches and approvals by various key market players for the treatment of various types of cancers. For instance, in 2020 GSK's Zejula received approval as a first-line maintenance treatment in the United States and the European Union, and in February 2020, GSK entered into a strategic collaboration agreement with Immatics Biotechnologies to develop novel adoptive cell therapies targeting multiple cancer indications. These targeted therapy and new launch of drug molecules and their approval are also gaining importance due to their specificity toward cancer cells while sparing the toxicity to off-target cells. For another instance, in 2021 the United States Food and Drug Administration (FDA) approved JEMPERLI (a new indication of GlaxoSmithKline PLCs) which is a programmed cell death receptor-1 (PD-1) blocking antibody, for the treatment of adult patients with mismatch repair-deficient (dMMR) recurrent or advanced solid tumors.
Breast cancer is the most prevalent cancer in the region, and the increasing incidence of this cancer and effective treatment of the targeted therapy in breast cancer patients are boosting segment growth. For instance, in 2021, International Agency for Research on Cancer reported that the Europe region reported 576 thousand breast cancer cases in 2020, and this number is expected to increase by 650 thousand by 2040. Thus, the increasing incidence of cancer cases is leading to an increase in targeted therapy, thereby boosting the demand for the market segment.
Therefore, owing to the rising approval from regulatory bodies and an increase in the prevalence of all types of cancer, the segment is expected to witness a high growth rate over the forecast period.
Germany is Expected to Witness Significant Growth over the Forecast Period (2022-2027).
Germany is expected to show significant growth over the forecast due to a high number of cancer cases reported in the region and also due to the large number of clinical trials being conducted in the region. The International Agency for Research on Cancer 2021, reported quoted that the number of cancer cases in the Germany region in the year 2020 was 629 thousand and this number is expected to increase to 750 thousand by the end of 2040. The rate of cancer growth in the region was about 19.2%. Thus, the high rate of cancer cases and the increasing number of cancer cases is increasing the demand for cancer therapeutics thereby driving the market in the region.
Also, clinical trials and cancer-related research in the region are fueling the market the region. For instance, in November 2021 an article titled, "Chemoradiotherapy Plus Induction or Consolidation Chemotherapy as Total Neoadjuvant Therapy for Patients With Locally Advanced Rectal CancerLong-term Results of the CAO/ARO/AIO-12 Randomized Clinical Trial" research related to neoadjuvant therapy has been increasingly adopted for multimodal rectal cancer treatment. The clinical trial was conducted in Germany. Thus, such kind of clinical trials and research studies is driving the market in the market for cancer therapeutics.
Thus, due to the aforesaid mentioned reasons the market is expected to show significant growth over the forecast period.
