|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 112 Billion||USD 220 Billion||7.2%||2022|
Cancer Biological Therapy Market
The global cancer biological therapy market size was evaluated at $112 billion in 2022 and is slated to hit $220 billion by the end of 2030 with a CAGR of nearly 7.2% between 2023 and 2030.
Biological therapy or biotherapy is a new cancer treatment method. It makes use of biological response modifiers as well as biologicals for treating cancer. Moreover, biological response modifiers or biologicals originate from mammalian cells and improve the immune response. The launching of molecular biological procedures and hybridoma technology has resulted in the preparation of these substances in huge quantities and highly pure form to apply them in cancer biological therapy. Additionally, nanomedicine provides a tool of biocompatible systems that can provide traditional chemotherapeutic medicines in vivo along with raising their bioavailability around the cancerous tumors and increasing their release profile. Reportedly, nanoparticles can be used for oncology applications that range from diagnosis to treatment.
The surge in cancer occurrence to boost the global market demand across the globe over 2023-2030
Cancer is one of the key causes of death across the globe and in the last few years, a large number of research studies have demonstrated the necessity of introducing new treatments for reducing the side effects due to traditional therapies. This aspect is predicted to drive the global cancer biological therapy market trends. Moreover, cancer biological therapies like oncolytic virus therapy and immunotherapy are well tolerated by the bodies of the patients and have low side effects as compared to chemotherapies due to their effective immune tolerance mechanisms. This will help the market scale up new terrains of growth over the forecast timespan.
Furthermore, the rise in the incurrence of cancer, the surging impact of biosimilars, and the escalating need for targeted drug treatments will steer the expansion of the market over the forthcoming years. Huge funding for cancer research projects and government aid for developing new cancer treatments will amplify the growth rate of the market in the years to come. Launching of new cancer biologics & drug discovery platforms for treating cancer will further contribute to the global market demand in the years to come. For instance, in August 2023, TFC Therapeutics, a biotech firm manufacturing biologics for targeting and eliminating cancer, launched a drug discovery tool targeting tumor macrophage hybrid cells in collaboration with Columbia University.
Side effects of treatment in patients can prove detrimental to the global industry expansion
Side effects witnessed in patients undergoing cancer biological treatment can impede the expansion of the cancer biological therapy industry across the globe. For instance, the most common infections caused due to cancer biological therapy include upper respiratory tract infections, heart ailments, and an increase in the levels of triglyceride witnessed in the patients.
Rise in fundraising and investments for developing innovative cancer treatment modes to open new growth avenues for the global market
A surge in the funding by government and private institutions for improving the healthcare infrastructure & biotech facilities of the country has transformed into innovations in the modes of cancer treatment. This has increased the scope of demand for cancer biological therapy, thereby helping the cancer biological therapy market explore new horizons of growth globally. In addition to this, a rise in fundraising activities for developing new methods of treating cancer will help the global market reach ascending heights of growth.
Huge treatment costs and low availability of professionals can put up a huge challenge in the growth path of the industry across the globe
The rise in the costs of treatment and the low availability of skilled persons can prove to be a huge challenge for the global cancer biological therapy industry. Apart from this, the easy availability of alternate modes of treatment which are cost-effective can further pose a threat to the global industry surge.
The global cancer biological therapy market is sectored into application, product type, and region.
In application terms, the global cancer biological therapy market is segregated into diagnostic laboratories, hospitals, pharmaceutical & biotechnology companies, and research & academic laboratories segments. Moreover, the hospitals segment, which garnered nearly 55% of the global market share in 2022, is projected to record the fastest CAGR in the projected timeline. The growth of the segment in the next few years can be due to the rise in the use of cancer biological therapy in hospitals for treating patients.
Based on the product type, the global cancer biological therapy industry is bifurcated into monoclonal antibodies, cancer growth blockers, vaccines, blood cell growth factors, and cytokine segments. In addition to this, the monoclonal antibodies segment, which contributed about half of the global industry share in 2022, is set to establish segmental dominance in the assessment period. The segmental elevation over the analysis timeframe can be subject to the ability of the product to target particular proteins on the surface of the cell, thereby enhancing its use in cancer treatment. Additionally, the rise in the preference for advanced cancer biological treatment for preventing side effects of the anti-cancer drug treatment mode has boosted the demand for monoclonal antibodies.
|Report Attributes||Report Details|
|Report Name||Cancer Biological Therapy Market|
|Market Size in 2022||USD 112 Billion|
|Market Forecast in 2030||USD 220 Billion|
|Growth Rate||CAGR of 7.2%|
|Number of Pages||225|
|Key Companies Covered||Bristol-Myers Squibb, Spectrum Pharmaceuticals, Amgen, F. Hoffmann-La Roche, AbbVie, AstraZeneca, Novartis AG, Astellas, Pfizer, Celgene Corporation, Sanofi, Takeda Pharmaceuticals, Bayer, ELI Lilly & Company, Eisai, GlaxoSmithKline, Merck, Incyte, Otsuka, and Seattle Genetics.|
|Segments Covered||By Application, By Product Type, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America to contribute majorly towards global market Share Over 2023-2030
The growth of the cancer biological therapy market in North America over the forecast timeframe can be subject to an increase in the incidences of cancer witnessed in countries like the U.S. In addition to this, an increase in the proportion of the aging populace prone to chronic ailments like cancer will prompt the regional market surge in the coming years. The presence of strong healthcare infrastructure in the region along with favorable compensation policies will help the regional market record stupendous growth. Affordable healthcare insurance and cutting-edge gene therapies will enable the market in North America to witness a mammoth expansion.
The European cancer biological therapy industry is set to register the fastest CAGR over the forecast timeline owing to the rise in awareness about oncology among the people along with growing demand for advanced cancer therapies in the continent. Apart from this, the presence of key players in the countries of Europe will majorly contribute to the industry expansion in the continent in the years to come.
The global cancer biological therapy market profiles key players such as:
By Product Type
Biological therapy or biotherapy is a new cancer treatment method. It makes use of biological response modifiers as well as biologicals for treating cancer.
The global cancer biological therapy market growth is owing to the launching of new cancer biologics & drug discovery platforms for treating cancer.
According to a study, the global cancer biological therapy industry size was $112 billion in 2022 and is projected to reach $220 billion by the end of 2030.
The global cancer biological therapy market is anticipated to record a CAGR of nearly 7.2% from 2023 to 2030.
The Europe cancer biological therapy industry is set to register the highest CAGR over the forecasting timeline owing to the rise in awareness about oncology among the people along with growing demand for advanced cancer therapies in the continent. Apart from this, the presence of key players in the countries of Europe will majorly contribute to the industry expansion in the continent in the years to come.
The global cancer biological therapy market is led by players such as Bristol-Myers Squibb, Spectrum Pharmaceuticals, Amgen, F. Hoffmann-La Roche, AbbVie, AstraZeneca, Novartis AG, Astellas, Pfizer, Celgene Corporation, Sanofi, Takeda Pharmaceuticals, Bayer, ELI Lilly & Company, Eisai, GlaxoSmithKline, Merck, Incyte, Otsuka, and Seattle Genetics.
The cancer biological therapy market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.