Targeted Cancer Therapies Market Growth, Trends, COVID-19 Impact, And Forecast 2021 – 2026

In 2020, the worldwide Targeted Cancer Therapies Market was worth over USD 158 billion, and by 2026, it is predicted to be worth USD 268 billion, with a CAGR of 9.15 percent.

The COVID-19 pandemic has had a tremendous impact on the Targeted Cancer Therapies Market, as well as on healthcare systems around the world. According to a study published in Cancer Connect 2020, the six most frequent cancer types - breast, colorectal, lung, pancreatic, gastric, and esophageal cancers - saw a 46 percent decline in diagnoses during the COVID-19 epidemic. The Centers for Disease Control and Prevention (CDC) and many medical professional organisations also recommended that cancer screening and other health-prevention services, as well as elective surgeries, be postponed unless the risks outweighed the benefits, and that hospitals be prepared to treat COVID-19 patients.

The Centers for Disease Control and Prevention (CDC) and many medical professional organisations also recommended that cancer screening and other health-prevention services, as well as elective surgeries, be postponed unless the risks outweighed the benefits, and that hospital infrastructure be secured for COVID-19 patients' treatment. As a result of the COVID-19 pandemic, the cancer therapy market has been impacted. The situation, though, is likely to progressively improve.

During the forecast period, the worldwide Targeted Cancer Therapies Market is expected to grow at a CAGR of 9.15 percent. Increased patient assistance programmes (PAPs), increased government initiatives for cancer awareness, rising cancer prevalence worldwide, and strong R&D initiatives from key companies, as well as the expanding desire for personalised treatment, are all driving market expansion.

The Report's Scope

Cancer therapies, according to the report's scope, are drugs that stop cancer cells from growing and multiplying by interfering with certain substances, such as DNA or proteins, that are involved in the growth or expansion of cancerous cells. Surgical procedures, radiation therapy, chemotherapy, and immunotherapy are examples of these treatments. The cancer therapy market is divided into four categories: therapy, cancer, end user, and geography. Chemotherapy, targeted therapy, immunotherapy, hormonal therapy, and other therapy types make up the market by therapy type.