Biological Therapies for Cancer Market Projected to Grow at Steady Rate through 2024

The world cancer research fund international (WCRF) estimates the number of cancer cases around the world to reach 24 million by 2035. This swelling number of cancer cases necessitate therapies that help in treating and decreasing the effect of the disease, if not cure them. Biological therapy for cancer is a type of treatment that uses body’s immune system to kill cancer cells. Biological therapy involves the use of living organisms or substances derived from living organisms or laboratory-produced versions. The biological response modifiers (BRMs) in the human body simulate the body’s response towards an infection. Researchers across the globe are now involved in creating such BRMs artificially, which can be used in triggering an immune response against the cancer infection.

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A few of the BRM’s produced artificially are interferons, interleukins, and monoclonal antibodies. Interferons help in controlling the spread of cancer cells by modifying them into normal cells. There are three prominent types of interferons – interferon alpha, which is widely used for cancer treatments, interferon gamma, and interferon beta. Food and drug administration (FDA) in the U.S. has approved the use of interferons for treating Kaposi’s sarcoma, chronic myeloid leukemia, hairy cell leukemia, and melanoma. Interleukins are also a type of cytokines that help in the treatment of metastatic melanoma and metastatic kidney cancer. Monoclonal antibodies are an emerging biological therapy that currently scientists are evaluating for cancer treatment.

In general, biological therapies work in two ways, either by inducing the immune system to attack cancer cells or by making cancer cells easily recognizable for the immune system. The global market for biological therapies for cancer is projected for a healthy growth rate during the forecast period of 2016 to 2024.

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Since cancer is one of the world’s leading causes of death, the demand for biological therapies is on the rise, especially when global prevalence rate of cancer is swelling. This is the primary factor that will sustain the demand across the globe during the forecast period. The world health organization (WHO) estimates that the number of new cancer cases to rise 70% during the coming two decades, primarily due to growing consumption of tobacco and alcohol. Moreover, the awareness pertaining to the effectiveness of biological therapies in reducing treatment induced side effects is expanding, which is luring more healthcare organizations to offer it and patients are increasingly resorting to it. In addition, the growing availability of healthcare facilities in emerging economies via dedicated investments by respective governments is further augmenting the demand. Moreover, patent expiry of cancer drugs during the forecast period, rising impact of biosimilars, and increasing demand for biological and targeted drug therapies are some of the other favorable factors in the global market for biological therapies for cancer.

Conversely, high cost of drug development and side effects of cancer drug therapies are two of the main restraint over the market. The side effects of biological therapies differ based on treatment type, although pain, soreness, redness, swelling, rash, and itchiness are common. Less common but severely serious side effects of biological therapies for cancer include flu-like symptoms, fever, chills, nausea or vomiting, lowered or heightened blood pressure, and occasional breathing difficulties.

Regionally, the global biological therapies market is segmented into North America, Europe, Asia Pacific, and rest of the world. Currently, North America market is dominated by two countries, the U.S. and Canada, who have the best-in-class healthcare infrastructure and an aggressive governance for new technology. However, the demand in the region of Asia Pacific is also expected to grow rapidly during the forecast period, owing to emerging economies of China and India. These two countries possess vast populations with increasing disposable amount. The healthcare sector is thriving in Asia Pacific too, supported by availability of skilled labor, which will further augment the growth of the market for biological therapies for cancer.

The biological therapies for cancer is an emerging market with nascent technologies, which makes the future very lucrative. This has attracted several pharmaceutical giants including GSK, Pfizer Inc., Novartis, Roche and Amgen to invest in this sector and tap the opportunities available in this market.

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