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Cancer Biologics are complex medical drugs that
harness the power of living organisms and biological processes to treat and
prevent cancer. These biologics utilize monoclonal antibodies, therapeutic
vaccines, and other biological therapies to target specific antigens
andmolecules involved in cancer growth and progression. With the rising global
cancer burden and increasing preference for targeted and personalized treatment
approaches, the demand for innovative Cancer Biologics has significantly grown
in recent years.
The global Cancer
Biologics Market is estimated to be valued at US$ 174.8 billion in 2024 and is
expected to exhibit a CAGR of 4.1% over the forecast period 2024 - 2031, as
highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the Cancer Biologics market is the
rising incidence and prevalence of various cancer types globally. According to
the World Health Organization (WHO), cancer is the second leading cause of
death worldwide and was responsible for nearly 10 million deaths in 2020. The
four most common cancers globally are lung cancer, breast cancer, colorectal
cancer, and prostate cancer. The high disease burden has increased the focus on
development as well as adoption of advanced targeted therapies to improve
clinical outcomes. Many biologics in late stage pipelines have demonstrated
promising results for hard-to-treat cancers and this is expected to
significantly drive their approvals and commercialization during the forecast
period. Additionally, growing healthcare expenditures and increasing access to
healthcare facilities particularly in developing nations will continue to boost
the adoption of high-cost biologic drugs for cancer treatment.
Segment
Analysis
The global Cancer Biologics market is segmented by drug class, application, end
user, and geography. The drug class segment includes monoclonal antibodies,
cancer vaccines, checkpoint inhibitors, interleukins and others. Among these,
the monoclonal antibodies segment holds the largest market share as they are
established and widely accepted treatment options for various cancer types.
They target specific antigenic sites present on the surface of cancer cells and
have high specificity and accuracy in destroying cancer cells.
Key Takeaways
Cancer
Biologics Market Size is expected to witness high growth over the forecast
period of 2024 to 2031.
Regional analysis: North America currently
dominates the market. This is attributed to growing incidences of cancer,
presence of advanced healthcare infrastructure, growing awareness about Cancer
Biologics, and rising uptake of novel drugs in the region. Europe is expected
to be the second largest market during the forecast period.
Key players operating in the Cancer Biologics market are Bristol Myers Squibb,
F. Hoffmann-La Roche AG, Merck & Co., Inc., Novartis International AG,
Johnson & Johnson, Amgen Inc., AbbVie, Inc., AstraZeneca PLC, Eli Lilly and
Company, and Celgene Corporation. The market is consolidated in nature with top
five players accounting for over 70% of the overall market share.
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