Increasing prevalence of cancer worldwide and rising Research & Development (R&D) funding coupled with favorable government policies are key factors driving

VANCOUVER, BRITISH COLUMBIA, CANADA, June 28, 2024 /EINPresswire.com/ -- The global cancer biological therapy market size was USD 99.00 Billion in 2022 and is expected to register a rapid revenue CAGR of 8.0% during the forecast period. The global cancer biological therapy market is witnessing robust growth driven by increasing prevalence of cancer worldwide, rising Research & Development (R&D) funding, and supportive government policies. This market, focused on utilizing biological therapies to combat cancer, has been buoyed by significant technological advancements and the transformative potential of immunotherapy.

Cancer, characterized by the rapid proliferation of abnormal cells, remains a critical global health challenge, with high mortality rates attributed to its uncontrolled growth and metastasis. Factors such as physical, chemical, and biological carcinogens, including infections like Human Papillomavirus (HPV) and hepatitis, contribute to its widespread impact, particularly in low- and lower-middle-income countries.

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Key Drivers of Market Growth:

Technological advancements in cancer biologics, particularly in developed countries, have propelled the market forward. Integration of Artificial Intelligence (AI) and Machine Learning (ML) has revolutionized drug discovery by identifying new treatment targets and enhancing therapeutic outcomes. Monoclonal antibodies, CAR-T therapy, and cancer vaccines represent significant advancements, offering superior clinical results and improved patient tolerability over traditional chemotherapy.

Market Challenges:

Despite technological strides, the high cost of cancer drugs poses a significant barrier to market expansion. Limited affordability and accessibility hinder widespread adoption, impacting both patients and healthcare systems. Moreover, monopolistic pricing practices and lack of competition in the market contribute to sustained high costs, limiting patient access to life-saving therapies.

Emerging Trends:

Immunotherapy stands out as a transformative trend in cancer biological therapy, leveraging the body's immune system to target cancer cells effectively. Recent advancements in gene delivery and targeted therapies have positioned immunotherapy as a promising avenue for personalized cancer treatment, marking a paradigm shift in therapeutic approaches.

Market Segment Insights:

Product Segmentation: Monoclonal antibodies dominate the market, leveraging immunotherapy to enhance the immune system's response against cancer cells. Vaccines are expected to grow steadily, driven by diversified prime–boost strategies that stimulate broader immune responses.

Route of Administration: Injectable therapies are experiencing rapid growth due to their enhanced efficacy and precise dosing capabilities, delivering cancer-fighting agents directly into the bloodstream.

Distribution Channels: Research laboratories play a pivotal role in developing evidence-based cancer treatments through clinical trials, driving substantial market share growth. Hospitals and clinics continue to expand their role in administering complex biological therapies, equipped with specialized oncologists and advanced medical facilities.

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Cancer Biological Therapy Top Companies and Competitive Landscape

The global cancer biological therapy market is moderately fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major businesses are using a variety of tactics, making mergers and acquisitions, strategic agreements, and contracts, as well as creating, experimenting with, and introducing more efficient cancer biological therapy solutions in the market.

Some major players included in the global cancer biological therapy market report are:

Incyte

ELI Lilly

Merck

Sanofi

Bayer

Novartis International

Roche

Pfizer

Bristol-Myers Squibb

Amgen

Seattle Genetics

Takeda Pharmaceuticals

Spectrum Pharmaceuticals

GlaxoSmithKline

Celgene Corporation

Otsuka

AstraZeneca, Plc.

Abbvie

Eisai

BioCanRx

Cancer Biological Therapy Latest Industry News

On May 19, 2022, Bevacizumab, a cancer medication, was first made available in Canada by Biocon Biologics and Viatris, previously Mylan. It was marketed under the Abevmy brand. The Abevmy was created by two firms, Biologics and Viatris.

On February 28, 2022, The FDA approved Janssen Pharmaceutical Companies of Johnson & Johnson's CARVYKTI, also known as ciltacabtagene autoleucel, in the U.S. This biologic drug is indicated for adults with Relapsed or Refractory Multiple Myeloma (RRMM) who have had four or more previous treatments, such as immunomodulator, proteasome inhibitor, and anti-CD38 monoclonal antibody.

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Cancer Biological Therapy Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global cancer biological therapy market on the basis of type, application, deployment, enterprise size, component, vertical. and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

Monoclonal Antibodies (MAB)

Naked MAB

Conjugated MAB

Bispecific MAB

Vaccine

Preventive Vaccines

Therapeutic Vaccines

Cancer Growth Blockers

Throsine Kinase Inhibitors

Proteasome Inhibitors

mTOR Inhibitors

Blood Cell Growth Factors

Lenograstim

Filgratim

Cytokines

Interferons

Interleukins

Route of Administration Outlook (Revenue, USD Billion; 2019-2032)

Oral

Injectable

Type Outlook (Revenue, USD Billion; 2019-2032)

Monoclonal Antibodies

Interferons

Interleukins

Cancer Growth Inhibitors

Gene Therapy

Colony-Stimulating Factors

End-use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals & Clinics

Cancer Research Centers

Laboratories

Distribution Outlook (Revenue, USD Billion; 2019-2032)

Hospitals and Clinics

Retail Pharmacies

Research Laboratories

Cancer Outlook (Revenue, USD Billion; 2019-2032)

Acute Pancreatic Cancer

Lung Cancer

Blood Cancer

Colorectal Cancer

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

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