Colorectal cancer, also known as bowel cancer, is a type of cancer that develops in the colon or rectum. The global colorectal cancer therapeutics market is growing rapidly, owing to the increasing prevalence of colorectal cancer and the rising demand for effective treatment options.
Product Type:
The colorectal cancer therapeutics market is segmented based on product type, distribution channel, and region. Based on product type, the market is segmented into chemotherapy, targeted therapy, immunotherapy, and others. The chemotherapy segment dominated the market in 2020, owing to the high efficacy of chemotherapy in treating colorectal cancer.
Distribution Channel:
Based on the distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market in 2020, owing to the high prevalence of colorectal cancer in hospitals and the availability of a wide range of therapeutic options in hospital pharmacies.
Regional Analysis:
Based on the region, the colorectal cancer therapeutics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominated the market in 2020, owing to the high prevalence of colorectal cancer in the region and the presence of major players in the market. Europe is expected to witness significant growth during the forecast period, owing to the increasing geriatric population and the rising demand for effective treatment options.
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Key Players:
The key players operating in the colorectal cancer therapeutics market include F. Hoffmann-La Roche AG, Pfizer, Inc., Merck & Co., Inc., Sanofi S.A., Eli Lilly and Company, Novartis AG, Bristol-Myers Squibb Company, Amgen, Inc., Takeda Pharmaceutical Company Limited, and Bayer AG.
Conclusion:
The global colorectal cancer therapeutics market is expected to witness significant growth during the forecast period, owing to the increasing prevalence of colorectal cancer and the rising demand for effective treatment options. The chemotherapy segment dominated the market in 2020, and the hospital pharmacies segment was the largest distribution channel for colorectal cancer therapeutics. North America dominated the market in 2020, and Europe is expected to witness significant growth during the forecast period. The key players operating in the market are focusing on developing new and effective treatment options to cater to the growing demand for colorectal cancer therapeutics.