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Global Cancer Biologics Market Projected to Reach Over US$ 185 Billion, Growing at a [CAGR of 7.7%] by 2031 - Latest Report by TMR Insights
cancer biologics
The global cancer biologics market was valued at US$ 94.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.7% from 2023 to 2031. By the end of 2031, the market is expected to surpass US$ 185 billion. The rising incidence of cancer worldwide, coupled with innovative treatment approaches, is driving the demand for biologic therapies.
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Analyst Viewpoint
Industry experts anticipate that the cancer biologics market will witness sustained growth, driven by increasing research funding, collaborations between pharmaceutical companies, and advancements in precision medicine. The development of next-generation biologics, such as bispecific antibodies and CAR-T cell therapies, is expected to further enhance the market landscape. Additionally, the push for biosimilars is creating opportunities for cost-effective alternatives to branded biologics, enhancing market accessibility.
Market Demand and Key Drivers
Rising Cancer Prevalence: The increasing global incidence of cancer is a major factor driving the demand for biologic therapies.
Advancements in Biologic Therapies: Innovations in monoclonal antibodies, cell therapies, and immune checkpoint inhibitors are enhancing treatment effectiveness.
Personalized Medicine Trends: The growing emphasis on precision oncology is leading to the development of targeted biologic treatments.
Increased Biopharmaceutical R&D: Significant investment in cancer biologics research is fostering the introduction of new and more effective therapies.
Regulatory Support and Fast-track Approvals: Expedited approval processes for novel cancer biologics are accelerating market growth.
Expanding Applications of Immunotherapy: Immunotherapies are becoming the standard treatment for various cancer types, increasing their market share.
Recent Developments
2023, Roche: Launched a new monoclonal antibody therapy for lung cancer, expanding its biologics portfolio.
2023, Merck & Co.: Received FDA approval for an advanced immunotherapy targeting melanoma.
2024, Bristol-Myers Squibb: Announced a strategic collaboration to develop next-generation CAR-T cell therapies.
2024, Amgen: Invested in AI-driven biologics research to accelerate drug discovery.
2024, Pfizer: Expanded its biosimilars division to enhance accessibility to cancer biologics worldwide.
Key Market Players
F. Hoffmann-La Roche Ltd.
Amgen, Inc.
Pfizer, Inc.
GSK plc.
Bristol-Myers Squibb Company
Abbott
AstraZeneca
Eli Lilly and Company
Gilead Sciences, Inc.
Johnson & Johnson Services, Inc.
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Market Trends and Opportunities
Rise of Biosimilars: The introduction of biosimilar versions of popular biologics is making cancer treatment more affordable.
Combination Therapies: Companies are exploring biologics in combination with chemotherapy and radiation to improve efficacy.
AI in Drug Discovery: Artificial intelligence is playing a crucial role in accelerating the development of new biologic drugs.
Adoption of Cell and Gene Therapy: The emergence of gene-editing technologies is expanding treatment options for difficult-to-treat cancers.
Increased Government Funding: Governments worldwide are investing in cancer research, driving innovation in biologic treatments.
Market Segmentation
Drug Class
Monoclonal Antibodies (mAb)- major share
Naked mAb
Conjugated mAb
Bispecific mAb
Recombinants Proteins
Cancer Growth Inhibitors
Tyrosine Kinase Inhibitors
mTOR Inhibitors
Others (proteasome inhibitors)
Vaccines
Preventive Vaccines
Therapeutic Vaccines
CAR-T Cells
Angiogenesis Inhibitors
Interleukins (IL)
Others (interferons (IFN), gene therapy, etc.)
Application
Blood Cancer
Lung Cancer
Breast Cancer
Colorectal Cancer
Prostate Cancer
Gastric Cancer
Ovarian Cancer
Others (skin, liver cancer, etc.)
End-user
Hospitals
Cancer Centers
Academics & Research Institutes
Future Market Analysis The cancer biologics market is expected to witness continued expansion over the coming years. Technological advancements, strategic partnerships, and increasing accessibility of biosimilars will drive market growth. The integration of artificial intelligence in biologics research, along with the continued rise of immunotherapies, is set to shape the future of oncology treatment. The market will likely see a surge in combination therapies and personalized medicine, making cancer treatment more effective and accessible globally.
Regional Analysis
North America: Dominates the market due to high adoption of biologics and strong R&D infrastructure.
Europe: Significant growth driven by increasing government initiatives and funding in cancer research.
Asia-Pacific: Fastest-growing region due to rising healthcare expenditure and expanding biotechnology industry.
Latin America & Middle East/Africa: Emerging markets with growing access to cancer biologics.
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