The Targeted Cancer Drug Market Will Reach $51 Billion By 2015
WALTHAM, Mass., Feb. 18 /PRNewswire/ — Decision Resources, one of the world’s leading research and advisory firms for pharmaceutical and healthcare issues, finds that the targeted cancer drug market will double in value, from $25 billion in 2008 to $51 billion in 2015. Growth will be driven by increasing sales of existing marketed targeted agents and by sales of new targeted agents introduced to the market prior to the end of 2015.
In 2008, the major players in the targeted cancer therapies market were led by Roche/Genentech, Novartis and Bristol-Myers Squibb. Competition, however, is rapidly growing as more companies and products are entering this market. Analysis of the clinical pipeline indicates that 142 companies are currently developing targeted cancer therapies.
The new report entitled Strategic Overview of the Targeted Cancer Therapies Marketplace also finds that while Pfizer has only one marketed targeted cancer drug on the market — Sutent (for the treatment of advanced kidney cancer) — the company has a robust clinical development pipeline, including promising agents that it acquired when it purchased Wyeth in early 2009. Pfizer’s targeted cancer drug portfolio will be worth nearly $3 billion by 2015, driven mostly by sales of Sutent, figitumumab (being investigated for the treatment of non-small-cell lung cancer, prostate cancer, breast cancer, colorectal cancer, Ewing’s sarcoma) and axitinib (being investigated for the treatment of pancreatic cancer, lung cancer, gastrointestinal cancer, thyroid cancer, breast cancer, renal cell carcinoma).
“Pfizer’s focus on targeted cancer therapeutics will pay dividends,” stated Decision Resources Analyst Barbara Bolten, M.S., MBA. “In 2005, Pfizer marketed no targeted oncology therapies, but by 2015, we expect it will be a multibillion-dollar player in this space.”
Members of the media are welcome to attend our upcoming webinar entitled The Targeted Cancer Therapies Industry: Will It Become a Victim of Its Own Success? This webinar will be held on Wednesday, February 24, 2010 at 10 a.m. U.S. Eastern Time. For more information, please contact Christopher Comfort at 781-296-2597 or by email at email@example.com.
About Strategic Overview Reports
Strategic Overview reports are a new offering within the Spectrum franchise. These reports are comprehensive examinations of dynamic biopharmaceutical markets and industry issues. Primary research, data analysis, thought-leader consultation and the expertise of the industry-savvy Spectrum staff drive reports that offer breadth of coverage along with depth of strategic insight.
About Decision Resources
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