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Cancer biologics Market Competitive Research, Industrsy Status, Key Drivers And Forecast To 2033
Cancer biologics Market
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.
Market Overview -
Cancer biologics refer to a substance used in the prevention, detection, or treatment of cancer and other disorders that is created from a living creature or its byproducts. Immunoglobulins, interleukins, and vaccinations are examples of biologic agents. A form of cancer treatment known as biological therapy employs the body's immune system to eradicate cancer cells.
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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 rectu*m cancer, 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
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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