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Cancer Biological Therapy Market Analysis Focusing on Top Key Players – Novartis International AG, Amgen Inc., Merck &Co., Inc., Bristol-Myers Squibb, GlaxoSmithKline Plc, F. Hoffmann-La Roche AG, Eli Lilly, Seattle Genetics, Inc. & More
Cancer Biological Therapy
Cancer Biological Therapy Market size is expected to reach USD 100 billion by 2023. Rising incidence rates and increased adoption of biologic therapy will drive global cancer biological therapy market size. According to WHO estimates, the number of new cancer cases are projected to rise by 70% in the next two decades, largely due to increased consumption of alcohol and tobacco. It is estimated by the ACS that 180,890 prostate cancer and 246,660 breast cancer cases will be diagnosed in 2016 in the U.S.
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Cancer vaccines market was over USD 1.9 billion in 2015. Approval of the first vaccine sipuleucel-T (Provenge) for metastatic prostate cancer by the FDA will boost growth in the immunotherapy segment. Cancer growth blockers market was over USD 18 billion in 2015, and is expected to grow at 5.8% CAGR from 2016 to 2023. Tyrosine kinase inhibitors dominated revenue share among the growth blockers in 2015 and is expected to continue witnessing steady growth.
U.S. cancer biological therapy market share was over 80% of the North American revenue in 2015, and is anticipated to grow owing to increased public funding for R&D and other government initiatives.
Germany revenue was over USD 4 billion in 2015 and contributes largely to the Europe cancer biological therapy market size. Major drivers include favorable insurance and public reimbursement policies. For instance, about 90% of the German population is covered by ‘Statutory Health Insurance’ and only 10% of population by private insurance players.
China will drive Asia Pacific cancer biology therapy market share by providing favorable growth opportunities to players, which will motivate them to invest in R&D of biologic products. The favorable reimbursement plans will further accelerate growth.
Key players include Novartis International AG, Amgen Inc., Merck &Co., Inc., Bristol-Myers Squibb, GlaxoSmithKline Plc, F. Hoffmann-La Roche AG, Eli Lilly, Seattle Genetics, Inc., Spectrum Pharmaceuticals, Inc., Celgene Corporation are some notable companies vying for global cancer biological therapy market share.
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Mounting global geriatric population is predicted to boost cancer biological therapy market size owing to correlation between new cases and old age. Elderly population is more prone to the disease and according to ACS, 86% of cases in the U.S. were recorded in individuals aged 50 and above. High associated cost attributed to the cost of drug development may act as a major bottleneck to growth. Millions of dollars are spent in identifying a potent drug, obtaining its preclinical data and carry out its clinical trials.
Monopoly is yet another factor that contributes to higher cost. The emergence of new therapeutic classes with reduced adverse-effects, such as immuno-oncologics will change the industry landscape.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Cancer Biological Therapy Industry Insights
Chapter 4. Cancer Biological Therapy Product Insights
Chapter 5. Cancer Biological Therapy Regional Insights
Chapter 6. Company Profiles
For More Details On this Report: https://www.marketstudyreport.com/reports/cancer-biological-therapy-market
Related Report:
Global Cancer Biological Therapy Market Size, Status and Forecast 2025
This report studies the global Cancer Biological Therapy market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Cancer Biological Therapy market by companies, region, type and end-use industry.
https://www.marketstudyreport.com/reports/global-cancer-biological-therapy-market-size-status-and-forecast-2025/?utm_source=RR-PSR
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