Market Trends of North America Cancer Therapy Industry
This section covers the major market trends shaping the North America Cancer Therapies Market according to our research experts:
The Target Therapy Segment is Expected to show the Fastest Growth During the Forecast Period
Targeted therapy is a treatment that uses drugs to target specific genes and proteins that are involved in the growth and survival of cancer cells. It can affect the tissue environment that helps cancer grow and survive or it can target cells related to cancer growth, like blood vessel cells.
Some of the most common types of targeted therapy are monoclonal antibodies or small-molecule drugs. Moreover, targeted therapies are a rapidly growing field of cancer research and researchers are studying many new targets and drugs through clinical trials. For instance, the human epidermal growth factor receptor 2 protein (HER-2) is expressed at high levels on the surface of some cancer cells. Several targeted therapies are directed against HER-2, including trastuzumab (Herceptin), which is approved to treat certain breast and stomach cancers that overexpress HER-2.
Besides, product approval is also supporting market growth. For instance, in April 2020, the United States Food and Drug Administration (US FDA) approved Trodelvy (sacituzumab govitecan-hziy) for the treatment of adult patients with triple-negative breast cancer. Trodelvy is a Trop-2-directed antibody and topoisomerase inhibitor drug conjugate, which targets the Trop-2 receptor that helps cancer grow, divide and spread.
Additionally, in May 2020, the United States Food and Drug Administration (USFDA) approved Tabrecta (lapatinib) for the treatment of adult patients with non-small cell lung cancer (NSCLC), and it is the first FDA-approved targeted therapy to treat NSCLC with specific mutations. Thus, given the increasing product approvals and high research activities related to targeted therapies against cancers, the studied segment is expected to grow over the forecast period.
The United States is Expected to Dominate the North America Cancer Therapy Market During the Forecast Period
The United States is expected to increase its market share in the future, owing to the increased adoption of cancer therapy and the growing burden of cancers in the United States. As per the American Cancer Society, "Cancer and Figures 2022", there will be an estimated 1.9 million new cancer cases diagnosed in 2022. Moreover, as per the same source in 2020, the most common cancers were breast (253,465), lung (227,875), prostate (209,512), and colon (101,809) in the United States. Thus, the increasing cases of cancer require early treatment which is expected to increase the demand for cancer therapies over the forecast period.
Additionally, the increasing launches by manufacturers to meet the growing demand for innovative products are expected to drive market growth in the country. For instance, in May 2021, Amgen's LUMAKRAS (sotorasib) was approved by the United States Food and Drug Administration (US FDA) for the treatment of adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC). Moreover, in September 2022, the US FDA granted accelerated approval for a drug Retevmo targeting a specific genetic alteration that can drive cancer growth - called RET fusion - additional evidence of precision medicine's potential to bring effective treatments to patients with pancreatic cancer based on their tumor's biology.
Thus, given the aforementioned factors, the cancer therapy market is expected to grow significantly over the forecast period in the United States.
