Global Cancer Biological Therapy Market: Overview
Biological cancer therapies use the body’s immune system, either directly or indirectly, to fight cancer or to lessen the side effects that may be caused by some cancer treatments. It is also called biotherapy or biological response modifiers. Biological cancer therapy works by stimulating, boosting, restoring or acting like the body’s immune system response against cancer cells.
Global Cancer Biological Therapy Market: Growth Factors
The factors such as the growing prevalence of cancer, continuous patent expiry of cancer drugs, rising impact of biosimilars and increasing demand of biological and targeted drug therapies will drive the overall cancer biological therapy market in the years ahead. In addition, massive consumption of alcohol and tobacco resulting in the rise of the global cancer burden will further drive cancer biological therapy market growth in the ensuing years.
Furthermore, growing R&D investments by key industry players in cancer biological therapy will accelerate cancer biological therapy market growth in the near future. Furthermore, increasing healthcare expenditure and growing awareness about cancer has stimulated demand for effective cancer treatment. Technological advancements in oncology will further enlarge the business scope.
However, the threat of failure in treatment, the high cost of drug development, the adverse effects of cancer drug therapy, stricter government regulations, and complications associated with anti-cancer drug therapy will hinder the overall cancer biological therapy market growth globally.
Global Cancer Biological Therapy Market: Segmentation
The global cancer biological therapy market can be classified into product and distribution channels. Based on the product, the market is segmented into monoclonal antibodies, vaccines, cancer growth blockers, cytokine, and blood cell growth factors. On the basis of the distribution channel, the market is sectored into hospitals and retail & mail order pharmacies.
Global Cancer Biological Therapy Market: Regional Analysis
Based on regions, the global cancer biological therapy market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America cancer biological therapy market is slated to witness considerable growth during the forecast period. The growth can be attributed to rising cases of cancer in the region coupled with the increasing geriatric population base. Technological advancement in cancer therapies, increasing R&D initiatives by industry players, and government support towards the development of advanced cancer therapies will favor industry growth. Awareness among people regarding cancer treatment, high healthcare expenditure, and availability of advanced infrastructure will stimulate North America cancer biological therapy industry growth over the estimated time span.
Europe cancer biological therapy market is anticipated to demonstrate a lucrative growth over the analysis period. The increasing burden of cancer in the region, the presence of a huge elderly patient pool, and breakthroughs in cancer therapies will enlarge the business space. Rapidly evolving techniques in molecular biology, sophistication in health care as well as improvements and innovative approaches in technology will propel the business space over the forecast period. The rising number of initiatives to promote the value of effective cancer treatment will further lift up the cancer biological therapy market earnings in the region.
Asia Pacific market is projected to expand at the highest rate, owing to the growing occurrence of cancer, large patient population base, and enhanced healthcare facilities in the region. Japan is anticipated to contribute a major share towards the APAC cancer treatment market over the forecast timeline.
LATAM and MEA markets are likely to expand substantially over the coming years.
Global Cancer Biological Therapy Market: Competitive Players
Some of the key players in cancer biological therapy market are Amgen Inc., Bristol-Myers Squibb, Celgene Corporation, F. Hoffmann-La Roche AG, Novartis International AG, Merck & Co., Inc., GlaxoSmithKline Plc, Eli Lilly, Spectrum Pharmaceuticals, Inc., and Seattle Genetics, Inc.
Global Cancer Biological Therapy Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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