Irinotecan A Novel Approach For The Treatment Of Colorectal Cancer

Irinotecan Market a chemotherapy drug is increasingly getting acceptance for the treatment of colorectal cancer owing to its unique enzyme inhibiting properties. Colorectal cancer is among the most difficult to treat cancers as the surgical removal of the cancer cell is not effective in this case. Further some colorectal (PDAC) cancers are considered surgically incurable at the time of clinical presentation. The use of Irinotecan in drugs is presents a novel approach to the cancer treatment as Irinotecan blocks topoisomerase I (enzyme) that inhibits the growth of cancer cells. The global market for Irinotecan is projected to grow at a substantial CAGR of over 11% over the forecast period of 2019-2026. Growing number of colorectal cancer cases globally, high funding for cancer research and growing healthcare expenditure globally are among the primary drivers for the growth of the market. Cancer is one of the most common malignancies globally, it is considered as the second leading cause of death after cardiovascular diseases. According to Our World in Data approximately 42 million people globally suffered from various type cancer globally. Colorectal cancer effected a total of 6.3 million people globally in 2016 and a total of 829 thousand mortalities happed due to colorectal cancer.

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Increasing cancer research funding to push the market growth

Drug approvals from regulatory bodies and funding for clinical trials is an important growth factor in the global Irinotecan market. The cancer research funding has helped in development of novel chemotherapy approach for the treatment of cancer. According to the Worldwide Cancer Research Fund, across the globe, cancer research funding is increasing by 10% annually. By 2020, total expenditure on cancer research is anticipated to reach $177 billion. In addition, Cancer Research UK, the U.S. federal government, the Australian Government and others are determined to make strides in cancer-based research and are investing accordingly. Further, Irinotecan market is greatly benefitted from the increasing approval of the Irinotecan based drugs from the regulatory authorities globally. For instance in January 2017, Shire Pharma (Canada) announced that their product ONIVYDE irinotecan liposome has received approval for the treatment of metastatic adenocarcinoma of the pancreas. Similarly, in 2016 PharmaEngine (Taiwan) received Taiwan FDA approval for ONIVYDE and consecutively the drug developed by the company has received regulatory approval from US FDA and European Medical Agency.