New York, NY -- (SBWire) -- 12/12/2016 --Colorectal cancer is the third most common type cancer and represents 9.7% of total cancer cases across the globe. According to American Cancer Society colorectal cancer is treatable and curable when it is localized to the bowel. However, colorectal cancer cancers that have spread to other body parts i.e. metastatic colorectal cancers are difficult to treat and have 11%-12% 5-year relative survival rate. Over the past decade, considerable advances have been made in the treatment of metastatic colorectal cancer. Introduction of targeted biological therapy and individualized treatment plans have revolutionized the metastatic colorectal cancer treatment and has improved the 2-year survival rate. Among all the colorectal cancer patients 25% of patients develop phase IV i.e. metastatic colorectal cancer. 50-75% patients with metastatic colorectal cancer have disease confined to liver and 10-20% of patients show spread of disease to lungs and other organs. Significant efforts are being taken to improve treatment options for metastatic colorectal cancer. Integration of chemotherapy and surgical resection of a tumor have shown to improve 5-year survival rate up to 30-40%.
Treatment of metastatic colorectal cancer is multidisciplinary field involving early evaluation for resection of hepatic metastasis, metastasectomy and coordinated chemotherapy or radiation therapy. Primary factors driving growth of metastatic colorectal cancer treatment market are increasing prevalence of colorectal cancer across the globe, rapid innovation in personalized medicine and discovery of new targets for treatment of colorectal cancers. According to Cancer Research U.K., incidence of colorectal cancer has increase by 3% during 2010 to 2013. Many treatment methods involving combination chemotherapies for metastatic and refractory colorectal cancer are in investigational phase. However, heterogeneous nature of cancer and high development cost of neoplastic agents are the factors limiting the growth of global metastatic colorectal cancer treatment market.
Advancement in second line therapy for unresectable metastatic colorectal cancer such as FDA approval for use of Bevacizumab (2004) and Cetuximab (2013) is expected to fuel the global metastatic colorectal cancer treatment market over the forecast period. In September 2015, FDA approved the use of LONSURF (trifluridine/tipiracil) for treatment of treatment of patients with metastatic colorectal cancer who have been previously treated with chemotherapy.
By treatment type, the global market for metastatic colorectal cancer treatment has been classified into surgery and chemotherapy. Being a first line therapy, chemotherapy treatment type segment is expected to hold maximum share in global metastatic colorectal cancer treatment market.
Based on disease indication, the global market for metastatic colorectal cancer treatment has been segmented into resectable, non-resectable and refractory metastatic colorectal cancer. Resectable metastatic colorectal cancer segment is expected to hold greater share in global market. According to cancer research U.K. 40% of metastatic colorectal cancers are resectable.
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Based on end user, the global metastatic colorectal cancer treatment market has been classified as hospitals, and cancer research centers. Hospitals end user segment is expected to hold maximum share in the global market owing to requirement of advanced healthcare infrastructure for the treatment.
On the basis of regional presence, global metastatic colorectal cancer treatment market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America will continue to dominate the global metastatic colorectal cancer treatment market due to high incidence of the disease. Europe is expected to hold second largest market share in global market.
Future of Global Metastatic Colorectal Cancer Treatment Market: Report Forecast 2016 - 2024
According to American Cancer Society colorectal cancer is treatable and curable when it is localized to the bowel.