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Chinese Colorectal Cancer Market to Exceed $1 Billion by 2023
February 18, 2015.
The Chinese treatment market for colorectal cancer (CRC) will expand from an estimated $259 million in 2013 to $1.05 billion by 2023, an impressive Compound Annual Growth Rate of 15.1%, according to GlobalData.
The increase will make China the third largest global market for CRC treatment behind the US and Japan, says the PharmaPoint: Colorectal Cancer – Global Drug Forecast and Market Analysis to 2023 report.
However, Fenix Leung, DPhil, GlobalData’s Analyst covering Oncology and Hematology, says that growth will be stymied by the patent expiration of Avastin, the leading drug in the Chinese CRC treatment market, and the slower uptake of pipeline therapies.
Despite this, Leung predicts the market entry of four additional drugs by 2023. These include Amgen/Takeda’s Vectibix, Bayer’s Stivarga, Sanofi’s Zaltrap, and Taiho Pharmaceutical’s Lonsurf, which together will garner combined revenues of $334 million in 2023.
