The targeted cancer drug market will double in value, from $25bn in 2008 to $51bn in 2015, according to new research conducted by pharmaceutical and healthcare advisory Decision Resources.

Research shows that growth will be driven by increasing sales of existing marketed targeted agents and through sales of new targeted agents introduced into the market up to 2015.

Competition in the market is also growing more rapidly with analysis indicating there are around 142 companies developing targeted cancer therapies, compared to only a few major players led by Roche/Genentech, Novartis and Bristol-Myers Squibb in 2008.

The Decision Resources report, Strategic Overview of the Targeted Cancer Therapies Marketplace, also identifies Pfizer’s targeted cancer drug portfolio to be worth nearly $3bn by 2015, driven mostly by sales of the kidney cancer drug Sutent.