The conventional practices are being augmented through robotic, AI-driven systems, thereby taking the past as well as present to the future. This would, in true sense, let clinicians carve cutting-edge technologies and implement them in proper ways, which would drive nutraceutical and pharmaceutical verticals. This would be the scene with Targeted cancer therapies market in the upcoming decade.
Targeted cancer therapies are drugs that are actively involved in blocking the growth of cancer by interfering with specific molecules which are responsible for the growth, progression, and spread of cancerous cells. These therapies are also known as precision medicines. Targeted cancer therapy is different from standard chemotherapy treatment as these therapies target only cancerous cells without affecting the normal cells.
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Also targeted cancer therapy block tumour cell proliferation, whereas standard chemotherapy kills the tumour cells. Recently targeted cancer therapies have gained increasing focus in anti-cancer drug development industry as these therapies forms the main branch of precision medicine i.e. a form of medicine that uses molecular diagnostic techniques to prevent, diagnose, and treat cancer.
Targeted cancer therapies market comprises of the drugs used as precision medicine for treating malignant and benign tumours. Many drugs in targeted cancer therapies have been approved by FDA to treat various types of cancer and have been commercialized, whereas numerous cancer therapies are being studied in clinical trials and many are in preclinical testing.
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Targeted cancer therapies market is growing, this is attributed to increasing prevalence of various types of cancers such as lung cancer, breast cancer, colorectal cancer, prostate cancer, lymphoma, leukaemia, melanoma etc. Also increasing awareness regarding molecular diagnostic techniques such as liquid biopsy to detect malignancy is expected to drive the market for targeted cancer therapies over the forecast period.
Growing healthcare expenditure, and rising insurance coverage, aids in the revenue growth of targeted cancer therapies market. Increasing number of new targeted anti-cancerous drugs also drives the market for targeted anti-cancer drugs. However higher pricing of these drugs along with higher pricing of the molecular diagnostic tests to detect cancer is expected to hamper the growth of the targeted cancer therapies market over the forecast period.
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