Colorectal cancer drug market in China set to grow nearly four-fold by 2023; report

The Chinese treatment market for colorectal cancer (CRC) will expand almost fourfold in value from an estimated $259 million in 2013 to $1.05 billion by 2023, at an impressive compound annual growth rate (CAGR) of 15.1%, a new report shows.

According to research and consulting firm GlobalData’s latest report, this increase, which will make China the third largest global market for CRC treatment behind the USA and Japan, will be driven by increasing disease incidence in urban populations, rising numbers of people covered by private health insurance and improved access to branded biologicals.

However, Fenix Leung, GlobalData’s analyst covering oncology and hematology, says that growth will be stymied by the patent expiration of Swiss pharma giant Roche’s (ROG: SIX) Avastin (bevacizumab), the leading drug in the Chinese CRC treatment market, and the slower uptake of pipeline therapies.