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Biological Therapies for Cancer: By Type (Monoclonal antibodies, Vaccines, Cancer growth blockers, Blood cell growth factors and Cytokines), By Application (Specialized cancer treatment centers, Hospitals Pharmacies and Retail Pharmacies), And Region - Global Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
Cancer biological therapy, also known as immunotherapy or biotherapy is a high-level cancer treatment that makes use of living organisms. These life forms are derived from living cells or created in a laboratory to treat a cancer infection. Cancer biological therapies use the immune response of the body to fight cancer or to reduce the side effects of various cancer therapies. Immunotherapy, in general, has an indirect effect on cancer cells, whereas other biological therapies, such as antibodies, target cancer cells directly. The growing number of cancer cases and special cancer treatment facilities around the world are expected to aid in the growth of the global cancer biological therapy market.
Global Biological Therapies for Cancer to surpass USD 203.12 billion by 2031 from USD 79.96 billion in 2021 at a CAGR of 12.4% in the coming years, i.e., 2021-31. The factors driving the growth of the cancer biological therapy market include an increase in cancer incidence worldwide and earlier diagnosis, as well as a greater emphasis on research and development activities by key players.
Global Biological Therapies for Cancer market is classified on the basis of Type into Monoclonal antibodies, Vaccines, Cancer growth blockers, Blood cell growth factors and Cytokines. Along with chemotherapy, radiation, and surgery, monoclonal antibody-based therapy is regarded as the primary component in cancer treatment. Because antibodies are highly specific, they directly target cancer cells while causing no harm to healthy cells and induce a long anti-tumor immune response. The growing global cancer burden will increase demand for cancer biological therapy and drive industry revenue. Furthermore, the global availability of monoclonal antibody-based immunotherapy treatments will have an impact on the demand for cancer biological therapy.
Based on application, global Biological Therapies for Cancer Market is fragmented into Specialized cancer treatment centers, Hospitals Pharmacies and Retail Pharmacies. Hospital and retail pharmacies segment held the greatest share of the vaccines technology market owing to its availability to the general public as they are under government surveillance.
The growing patient pool of cancer patients around the world is a key driving factor for the growth of the cancer biological therapy industry in the near future. High alcohol consumption and tobacco addiction have made significant contributions to the global cancer burden, increasing demand for biological therapies to treat cancer in the global market. Pouring funds into R&D activities and government initiatives to boost cancer research, successful ventures in clinical oncology, improved patient survival rate, and reduction in side effects of other cancer treatment therapies are thought to be major factors fueling growth in the cancer stem cell market.
Rising adoption of biosimilars in oncology, the availability of generic medicines for oncology treatment in the market due to patent expirations, rising disposable income and healthcare expenses, and rising awareness about oncology therapeutics and the benefits of biological therapies are all contributing to the growth of cancer biological therapy. Furthermore, good government approaches to cancer therapy in developed countries are expected to drive the global cancer biological therapy market.
The high treatment costs and side effects associated with cancer therapeutics may limit the growth of the cancer biological therapy market. Furthermore, the poor healthcare situation in several developing economies, such as India, and the fact that cancer biotherapy is not covered by medical insurance claims could stymie market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Biological Therapies for Cancer market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The acceptance of a sedentary lifestyle, as well as unhealthy dietary habits, alcohol and drug abuse in North America is attributing to the rising incidence of cancer in the region.
The global spread of the COVID-19 pandemic has had a negative impact on the cancer biological therapy market, disrupting the spectrum of cancer care. During the pandemic, the industry saw a drop in sales of cancer biological drugs. Furthermore, the COVID-19 pandemic overburdened healthcare systems, causing many countries to suspend cancer diagnosis or screening and postpone cancer-related surgeries.
REPORT ATTRIBUTE |
DETAILS |
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Market size value in 2021 |
USD 79.96 billion |
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Revenue forecast in 2031 |
USD 203.12 billion |
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Growth Rate |
CAGR of 12.4% from 2021 to 2031 |
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Base year for estimation |
2020 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2030 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, Application and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
Bayer AG, Amgen Inc., Celgene Corporation, Eisai Co., Ltd., Hikma Pharmaceuticals PLC, Incyte Corp, Johnson & Johnson Services, Inc, Otsuka Pharmaceutical Co., Ltd, Pfizer, Inc and Other Prominent Players. |
Biological Therapies for Cancer market size was estimated at USD 79.96 billion in 2021 and is expected to reach USD 203.12 billion in 2031.
Cancer biological therapy, also known as immunotherapy or biotherapy is a high-level cancer treatment that makes use of living organisms.
Monoclonal antibodies and Hospital and retail pharmacies accounted for the largest Biological Therapies for Cancer market share.
Key players: Bayer AG, Amgen Inc., Celgene Corporation, Eisai Co., Ltd., Hikma Pharmaceuticals PLC, Incyte Corp are the key players in the Biological Therapies for Cancer market.
The factors driving the growth of the cancer biological therapy market include an increase in cancer incidence worldwide and earlier diagnosis, as well as a greater emphasis on research and development activities by key players.
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