Cancer Targeted Therapy Market Outlook (2021-2031)

The cancer targeted therapy market size is expected to reach US$ 235,680.29 million by 2031 from US$ 95,120.20 million in 2024. The market is estimated to record a CAGR of 14.0% from 2025 to 2031.

Executive Summary and Global Market Analysis:

The global cancer targeted therapy market is experiencing significant growth driven by advancements in genomic profiling and biomarker discovery, preference for precision medicine approaches, and robust pipeline of monoclonal antibodies and small molecule inhibitors. Cancer target therapy encompasses monoclonal antibodies, tyrosine kinase inhibitors, immune checkpoint inhibitors, cancer vaccines, gene therapy, and others. Targeted drugs inhibit the growth of cancer cells either by destroying them or slowing down their growth. Currently, targeted therapy is used in combination with traditional chemotherapy. It helps block the action of an abnormal protein (such as HER2) that promotes the growth of cancer cells.

The targeted therapy is divided into abemaciclib, ado-trastuzumab emtansine, Palbociclib, trastuzumab, and others. Trastuzumab (Herceptin) or lapatinib (TYKERB) can be prescribed to female patients whose breast tumors show an excessive amount of HER2 in lab tests. Kadcyla, Afinitor/Afinitor Disperz/Zortress, and Lynparza are a few of the crucial targeted therapeutic products. In August 2023, the Food and Drug Administration (FDA) approved trastuzumab deruxtecan (Enhertu) for adults with non-small cell lung cancer with a certain kind of mutation in the HER2 gene. It is regarded as the first targeted therapy for HER2-mutant lung cancer. Targeted therapy has gained notable traction in developed and emerging countries to treat cancer. With new product launches and the availability of an overwhelming number of medications, the targeted therapy segment is expected to hold a significant share of the cancer therapeutics market.

Cancer Targeted Therapy Market Strategic Insights

Cancer Targeted Therapy Market Segmentation Analysis

Key segments that contributed to the derivation of the cancer targeted therapy market analysis are therapy type, indication, and distribution channel.

• By therapy type, the cancer targeted therapy market is segmented into monoclonal antibodies, tyrosine kinase inhibitors, immune checkpoint inhibitors, cancer vaccines, gene therapy, and others. The monoclonal antibodies segment dominated the market in 2024.
• In terms of indications, the market is segmented into blood cancer, lung cancer, breast cancer, colorectum cancer, prostate cancer, stomach cancer, cervical cancer, liver and intrahepatic bile duct cancer, thyroid cancer, and other indications. The lung cancer segment held the largest share of the market in 2024.
• By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online stores. The hospital pharmacies segment held the largest share of the market in 2024.

Cancer Targeted Therapy Market Drivers and Opportunities:

Advancements in Genomic Profiling and Biomarker Discovery Driving Cancer Targeted Therapy Market

Emergence of genomic profiling and biomarker discovery are powerful agents of growth in the cancer targeted therapy marketplace, reshaping how cancer is diagnosed, stratified, and treated. Strides are being made to move away from the one-size-fits-all approach to cancer therapy to precision medicine approaches with detailed molecular information about the molecular drivers of individual tumors. Next-generation sequencing (NGS), whole exome sequencing, and liquid biopsies have allowed scientists and clinicians to discover many actionable genetic mutations (e.g., EGFR, ALK, KRAS, BRAF, HER2) that serve as targets for variable levels of specificity and other available or developing therapies.

These discoveries have opened systems of drug development for a new class of targeted drugs (e.g., tyrosine kinase inhibitors (TKIs), monoclonal antibodies, antibody-drug conjugates (ADCs)), that seek to inhibit cancer-drivers cascades without damaging healthy tissue, in theory decrease toxicity and improve overall efficacy. Clinical relevance of biomarkers has also expanded from simply supporting treatment selection; biomarkers can often be used to provide insight to disease progression (e.g. circulating tumor DNA (ctDNA), predicting development of therapeutic resistance, or guidance on eligibility for combination therapies. Furthermore, regulatory bodies, including the FDA and EMA, have provided increasing developmental guidance and approval for biomarker-driven therapeutics often through biosimilars. From the miniature stage-one trials discussed previously, tumor-agnostic indications have been developed where drug approval is related to treatment of patient populations based on predetermined genetic alterations rather than based solely on the cancer type.

Expanding Targeted Therapies into Rare Cancers and Tumors Driven by Specific Genetic Mutations

Expanding targeted therapies into rare cancers and tumors based on specific genetic alterations is a major and growing opportunity in the cancer targeted therapy space. The development of targeted therapies has historically taken place in high-prevalence cancers, like lung, breast, and colorectal cancers, where there are large patient populations that have well-characterized mutations, and where research and clinical trial expenses are justified. Advances in genomic sequencing and molecular diagnostics have uncovered actionable mutations in a whole host of less common and even ultra-rare tumor types, and have identified new therapeutic targets that may not have been known before.

Some tumors, like cholangiocarcinoma, gastrointestinal stromal tumors (GIST), anaplastic thyroid cancer, and certain sarcomas, to name a few, have well-characterized mutations—such as FGFR2 fusions, NTRK gene fusions, RET mutations, and KIT/PDGFRA alterations—that can be directly targeted. The development of tumor-agnostic therapies, like TRK inhibitors and checkpoint inhibitors approved for use in microsatellite instability-high (MSI-H) or TMB-high tumors, exemplifies that cancers can be treated based on their genetic profile, and not whereby tissue the cancer originated from. In fact, there are regulatory pathways in place to encourage these developments, which include accelerated pathways and orphan drug designations, incentivizing pharma companies to pursue therapies for smaller patient populations.

Cancer Targeted Therapy Market Size and Share Analysis

By therapy type, the cancer targeted therapy market is segmented into monoclonal antibodies, tyrosine kinase inhibitors, immune checkpoint inhibitors, cancer vaccines, gene therapy, and others. The monoclonal antibodies segment dominated the market in 2024. Monoclonal antibodies (mAbs) represent a leading category in the cancer targeted therapy market because of their ability to specifically bind to target antigens on cancer cells and minimize damage to healthy tissue. In particular, agents such as trastuzumab, bevacizumab, and rituximab are commonly used in treating cancers such as breast, colorectal, and lung cancer and have become standard in the field. mAbs remain a core broad category of cancer targeted therapy in part because of their wide range of uses as well as in combination with existing and new cancer therapies such as antibody-drug conjugates.

In terms of indications, the market is segmented into blood cancer, lung cancer, breast cancer, colorectum cancer, prostate cancer, stomach cancer, cervical cancer, liver and intrahepatic bile duct cancer, thyroid cancer, and other indications. The lung cancer segment held the largest share of the market in 2024. Lung cancer is still largest segment of cancer targeted therapy because it continues to be one of the most important indications due to the high incidences of actionable genetic mutations (e.g. EGFR, ALK, ROS1). There has been a dramatic improvement in survival rates along with quality of life for patients with lung cancer that are sub grouped as non-small cell lung cancer (NSCLC) through use of targeted therapies. This category of cancer treated with targeted therapies continues to grow as biomarker testing becomes more routine and eligible patients continue to grow, over time maintaining lung cancer as a dominant category for this targeted therapy market segment.

By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online stores. The hospital pharmacies segment held the largest share of the market in 2024. Hospital pharmacy represents the primary end user for cancer targeted therapies largely due to the specialized handling of these treatments and IV delivery mode.

Cancer Targeted Therapy Market Report Highlights

Cancer Targeted Therapy Market Report Coverage and Deliverables

The "Cancer Targeted Therapy Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Cancer targeted therapy market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Cancer targeted therapy market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter's Five Forces and SWOT analysis
• Cancer targeted therapy market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the cancer targeted therapy market
• Detailed company profiles

Cancer Targeted Therapy Market Country and Regional Insights

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The geographical scope of the cancer targeted therapy market report is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. The cancer targeted therapy market in Asia Pacific is expected to grow significantly during the forecast period.

The Asia Pacific cancer targeted therapy market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. The Asia Pacific region is the fastest growing market for cancer targeted therapies due to the increase in cancer prevalence, increased investment in healthcare, and widespread adoption of molecular diagnostics. China leads the way with one of the largest growing cancer patient populations, strong government support of biopharmaceutical innovation, and policies such as “Healthy China 2030”. Recent years have seen a rapid expansion of clinical trial infrastructure and an increased ability for domestic firms to develop advanced biologics (novel antibody therapies) that are starting to compete with Western drugs in efficacy and market share. India, is expanding its oncology services in both domestic public and private sectors in response to growing levels of cancer burden. Investments in molecular diagnostics, along with a large and robust pharmaceutical manufacturing base, are leading to increased access to affordable targeted therapies. Japan has a highly developed healthcare system and aging population which has continued to promote personalized cancer care with an expedited regulatory process to gain access to next-generation therapies, funded by the government. In South Korea, a highly innovative biotechnology sector with strong academic-clinical collaborations are increasing the environment to create precision oncology solutions, such as next-generation monoclonal antibodies and small molecule inhibitors. Australia is represented in the Asia Pacific region with a strong research ecosystem and participation in global clinical trials ensuring access to the best targeted therapies. The region is seeing growth as a result of better access to genetic testing, increasing awareness of biomarker-driven therapies, and strategic alliances of local and multinational pharmaceutical companies. These trends help to further establish Asia Pacific as a dynamic and important region for the future of targeted cancer therapy.

Cancer Targeted Therapy Market Research Report Guidance

• The report includes qualitative and quantitative data in the cancer targeted therapy market across therapy type, indication, and distribution channel, and geography.
• The report starts with the key takeaways (chapter 2), highlighting the key trends and outlook of the cancer targeted therapy market.
• Chapter 3 includes the research methodology of the study.
• Chapter 4 further includes ecosystem analysis along with Porter’s analysis.
• Chapter 5 highlights the major industry dynamics in the cancer targeted therapy market, including factors that are driving the market, prevailing deterrents, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
• Chapter 6 discusses the cancer targeted therapy market scenario, in terms of historical market revenues, and forecast till the year 2031.
• Chapters 7 to 9 cover cancer targeted therapy market segments by therapy type, indication, and distribution channel, and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. They cover market volume revenue forecast and factors driving the market.
• Chapter 10 describes the competitive analysis along with the heat map analysis for the key players operating in the market.
• Chapter 11 describes the industry landscape analysis. It provides detailed description of business activities such as market initiatives, new developments, mergers, and joint ventures globally, along with a competitive landscape.
• Chapter 12 provides detailed profiles of the major companies operating in the cancer targeted therapy market. The companies have been profiled on the basis of their key facts, business descriptions, products and services, financial overview, SWOT analysis, and key developments.
• Chapter 13, i.e., the appendix is inclusive of a brief overview of the company, list of abbreviations, and disclaimer.

Cancer Targeted Therapy Market News and Key Development:

The cancer targeted therapy market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the cancer targeted therapy market are:

• The FDA approved telisotuzumab vedotin (Emrelis) for adult patients with previously treated, locally advanced or metastatic, non-squamous non-small cell lung cancer (NSCLC) who have high c-Met protein overexpression. This antibody-drug conjugate (ADC) represents a targeted chemotherapy approach. (Source: AbbVie, Press Release, May 2025)
• Eli Lilly and Company announced that the US FDA approved an expanded indication for Verzenio (abemaciclib). High-risk patients eligible for Verzenio can now be identified solely based on nodal status, tumor size, and tumor grade (4+ positive nodes, or 1-3 positive nodes and at least one of the following: tumors that of Grade 3). This expanded adjuvant indication removes the Ki-67 score requirement for patient selection. (Source: Eli Lilly and Company, Company Website, March 2023)

Key Sources Referred:

• The World Bank World Development Indicators
• World Health Organization (WHO)
• Global Cancer Observatory 
• Medicines and Healthcare Products Regulatory Agency (MHRA)
• American Cancer Society
• National Cancer Institute