The size of the global cancer biological therapy market was estimated to be $112 billion in 2022, and it is expected to reach $220 billion by the end of 2030 with a CAGR of roughly 7.2% between the years 2023 and 2030.
Cancer Biological Therapy Market: Overview
Biological therapy, often known as biotherapy, is an innovative approach to treating cancer. In addition to using biologicals, it also employs biological response modifiers as a method for treating cancer. In addition, biological response modifiers, also known as biologicals, are produced by mammalian cells and serve to enhance the immune response. Because of the introduction of molecular biological techniques and hybridoma technology, it is now possible to produce these compounds in extremely large amounts and in an extremely pure form so that they can be used in cancer biological therapy. In addition, nanomedicine provides a tool of biocompatible systems that can provide standard chemotherapeutic drugs in vivo, in addition to enhancing their bioavailability around malignant tumors and increasing their release profile. This is made possible by the fact that nanomedicine provides a tool of biocompatible systems. According to recent reports, nanoparticles have the potential to be utilized in a variety of oncology applications, ranging from diagnostics to treatment.
Cancer Biological Therapy Market: Growth Factors
The rise in the number of people diagnosed with cancer is expected to drive up demand in global markets throughout the period 2023-2030.
Cancer is one of the leading causes of death all over the world, and in the past few years, a huge number of research studies have proved the importance of introducing new treatments for the purpose of decreasing the adverse effects that are caused by standard therapies. It is anticipated that this factor will influence the trends in the global market for biological therapies for cancer. Moreover, cancer biological therapies such as oncolytic virus therapy and immunotherapy are well tolerated by the bodies of patients and have fewer side effects in comparison to chemotherapies as a result of their effective immune tolerance mechanisms. This is in contrast to the situation with cancer treatments that include the use of chemicals. Because of this, the market will be able to scale up new terrains of expansion during the course of the anticipated timeframe.
Cancer Biological Therapy Market: Segmentation
Application, product type, and region are the primary divisions that make up the global market for cancer biological therapy.
The global market for cancer biological therapy may be broken down into four different application categories: diagnostic laboratories, hospitals, pharmaceutical and biotechnology businesses, and research and academic laboratories. In addition, the hospitals sector, which accounted for approximately 55 percent of the total market share in 2022, is anticipated to post the highest CAGR throughout the course of the anticipated timeframe. It is possible that an increase in the utilization of cancer biological therapy in hospitals for the purpose of treating patients would drive growth in this sector over the next several years.
Cancer Biological Therapy Market: Regional Insights
North America to contribute majorly towards global market Share Over 2023-2030
The growth of the cancer biological therapy market in North America over the forecast timeframe can be subject to an increase in the incidences of cancer witnessed in countries like the U.S. In addition to this, an increase in the proportion of the aging populace prone to chronic ailments like cancer will prompt the regional market surge in the coming years. The presence of strong healthcare infrastructure in the region along with favorable compensation policies will help the regional market record stupendous growth. Affordable healthcare insurance and cutting-edge gene therapies will enable the market in North America to witness a mammoth expansion.
Cancer Biological Therapy Market: Competitive Space
The global cancer biological therapy market profiles key players such as:
Bristol-Myers Squibb
Spectrum Pharmaceuticals
Amgen
F. Hoffmann-La Roche
AbbVie
AstraZeneca
Novartis AG
Astellas
Pfizer
Celgene Corporation
Sanofi
Takeda Pharmaceuticals
Bayer
ELI Lilly & Company
Eisai
GlaxoSmithKline
Merck
Incyte
Otsuka
Seattle Genetics
The global cancer biological therapy market is segmented as follows:
By Application
Diagnostic Laboratories
Hospitals
Pharmaceutical & Biotechnology Companies
Research & Academic Laboratories
By Product Type
Monoclonal Antibodies
Naked Monoclonal Antibodies
Conjugated Monoclonal Antibodies
Bispecific Monoclonal Antibodies
Vaccines
Preventive Vaccines
Therapeutic Vaccines
Cancer Growth Blockers
Tyrosine Kinase Inhibitors
Proteasome Inhibitors
mTOR Inhibitors
Blood Cell Growth Factors
Lenograstim
Filgrastim
Cytokine
Interferon
Interleukin
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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