Cancer Biological Therapy Market Current Growth Analysis On Bristol-Myers Squibb, GlaxoSmithKline Plc, F. Hoffmann-La Roche AG, Eli Lilly, Seattle Genetics, Inc., Novartis International AG, Amgen Inc., Merck &Co., Inc., Spectrum Pharmaceuticals

The global cancer biological therapy market is set to witness immense growth in the ensuing years on account of increased cases of various cancers followed by the rising preference for biological therapies among patients affected by cancer worldwide. According to the American Cancer Society, the United States is projected to witness about 1,735,350 new cases of Cancer and nearly 609,640 cancer deaths in 2018. The estimations further revealed that the geriatric population above the age of 65 is more at risk in comparison to individuals aged below the age of 65.

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.

To treat cancer, biological therapy uses substances resulting from living organisms or lab-produced versions of such substances. These therapies help the body’s immune system tackle cancer cells. Indeed, immunotherapy is one of the most significant and effective kinds of biological therapies, which indirectly acts against cancer cells. A new study by researchers from UC Davis uncovered why obesity among individuals can fuel cancer growth and enable new immunotherapies to work better against tumors.

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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.

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.

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.

Recently, a study conducted by the US Centers for Disease Control and Prevention even revealed that cancer will replace heart disease as the leading cause of death in the United States, proving that the scope for biological therapies will propel the cancer biological therapy market in the coming years.

Monoclonal antibodies market size was over USD 21 billion in 2015. Antibody therapy has been the most successful and important approach for treatment of hematological malignancies and solid tumors. Bispecific monoclonal antibodies are anticipated to grow at 6.5% CAGR from 2016 to 2023.

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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.

Complete report for 2016-2023 on Cancer Biological Therapy market is now available at https://www.marketstudyreport.com/reports/cancer-biological-therapy-market

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