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Illuminating the Expansive Landscape of Cancer Biologics Market - Trends, Therapeutic Advancements, and Global Strategies Explored
Cancer biologics Market
The Business Research Company offers in-depth market insights through Cancer biologics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The cancer biologics market size has grown rapidly in recent years. It will grow from $106.2 billion in 2023 to $117.03 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to rising incidence of cancer, increasing awareness of cancer biologics, improved efficacy and safety of cancer biologics, approval of new cancer biologics, growing acceptance of combination therapy.
The cancer biologics market size is expected to see rapidly grown in the next few years. It will grow to $168.75 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to expanding indications, combination therapies, real-world evidence, gene and cell therapies. Major trends in the forecast period include advances in biotechnology, personalized cancer biologics, biobetters, biosimilars, patient support services, companion diagnostics.
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Market Segmentation:
The cancer biologics market covered in this report is segmented -
1) By Type: Monoclonal Antibodies, Vaccines, Cell And Gene Therapy, Other Types
2) By Application: Non-small Cell Lung Cancer, Prostate Cancer, Breast Cancer, Acute Myeloid Leukemia, Lymphoma, Multiple Myeloma, Ovarian Cancer, Colorectal Cancer, Gastric Cancers, Other Applications
3) By Distribution Channel: Hospitals, Clinics, Other Distribution Channels
Major Driver - Rising Prevalence Of Chronic Diseases Fuels Growth In The Cancer Biologics Market
The rising prevalence of chronic diseases is one of the major factors driving the cancer biologics market's growth. Chronic disorders are diseases that persist over a long period and hinder the health of people with disabilities, and cancer is one of the most common chronic diseases. The most common cancers are breast cancer, lung and bronchus cancer, prostate cancer, colon and, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial cancer, leukemia, pancreatic cancer, thyroid cancer, and liver cancer. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based international resource for the scientific research community, the number of individuals aged 50 years and older having one or more chronic illnesses is projected to rise by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020 in the United States. Therefore, the rising prevalence of chronic diseases is expected to drive the cancer biologics market growth over the coming years.
Competitive Landscape:
Major companies operating in the cancer biologics market include AbbVie Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Eli Lilly and Company, AmgenInc., Bristol-Myers Squibb Company, Johnson & Johnson, Merck & Co.Inc., Novartis AG, Pfizer inc., Celgene Corporation, Serum Institute of India Pvt. Ltd., Daiichi Sankyo Company Ltd., Seagen Inc., Takeda Pharmaceutical Company Limited, Biogen Inc., Vertex Pharmaceuticals Incorporated, Incyte Corporation, Karyopharm Therapeutics Inc., Kyowa Kirin Co Ltd., Ipsen Biopharmaceuticals Inc., Bayer AG, Biocon Limited, Genentech Inc., Gilead Sciences Inc., Puma Biotechnology, Regeneron Pharmaceuticals Inc., Stryker Corporation, Terumo Corporation
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Top Trend - Development Of Predictive Biomarkers Enhances Personalized Treatment Approaches In The Cancer Biologics Market
Companies in the cancer biologics market are developing predictive biomarkers that help physicians decide the treatments for their patients by utilizing physiological biomarkers for predicting performance. Predictive biomarkers study tumor growth in patients by analyzing the major etiological factors, as the cancer etiology differs from patient to patient. Moreover, these biomarkers not only aid in the early detection of cancer but also help in deciding the most cost-effective treatment regimens, especially for biologics based on gene therapy.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cancer biologics Market Characteristics
3. Cancer biologics Market Trends And Strategies
4. Cancer biologics Market - Macro Economic Scenario
5. Cancer biologics Market Size And Growth
…..
27. Cancer biologics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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