The Global Cancer Therapeutics And Biotherapeutics Market is Trending with Increase in Cancer Incidence
The Global Cancer Therapeutics And Biotherapeutics Market is Trending with Increase in Cancer Incidence
The global cancer therapeutics and biotherapeutics market deals with development of drugs and biological therapies used for treating various

The global cancer therapeutics and biotherapeutics market deals with development of drugs and biological therapies used for treating various types of cancer such as lung cancer, breast cancer, leukemia, lymphoma and others. These therapies include immunotherapy, targeted therapy, chemotherapy and other supportive care therapies designed to help the immune system fight cancer. The need for treatment of growing cancer cases with minimal toxic side effects of therapies is driving development of biologics therapies.

The Global Cancer Therapeutics And Biotherapeutics Market is estimated to be valued at US$ 194.11 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.

Key players operating in the global cancer therapeutics and biotherapeutics market are Amgen Inc., Bristol-Myers Squibb, Celgene Corporation, ELI Lilly and Company, Hoffmann-La Roche AG, EnGeneIC Ltd, Merck & Co Inc., Novartis, Pfizer Inc., Johnson & Johnson, AstraZeneca, Bristol-Myers Squibb, Biogen IDEC, Sanofi, Novartis AG, Roche, Schering-Plough, Gilead Sciences, and Takeda Pharmaceutical Company.

Key Takeaways

Key players related content: Key players operating in the Global Cancer Therapeutics And Biotherapeutics Market Share are focusing on developing new treatment options through collaborations and acquisitions. For instance, Roche acquired Sareum to expand its early-stage cancer research portfolio with Tyrosine Kinase Inhibitor programs.

Growing demand in market: The growing demand for effective cancer treatment with minimal side effects and increasing prevalence of cancer worldwide is boosting the global market. According to WHO, cancer is the second leading cause of death globally and estimated to have caused about 9.6 million deaths in 2018.

Global expansion of market: Major players in the market are expanding their presence globally especially in emerging markets of Asia Pacific and Latin America to tap the growth opportunities. These companies are also focusing on collaborations with regional pharmaceutical companies and hospitals to strengthen distribution networks.

Market Key Trends

Global Cancer Therapeutics And Biotherapeutics Market Size And Trends Targeted therapies such as small molecule drugs or monoclonal antibodies target specific cancer cells with specific gene or protein abnormalities. This minimizes damage to normal cells and thus causes fewer side effects than traditional chemotherapy or radiation therapy. Other upcoming trends include development of cancer vaccines and immunotherapies with prolonged response.

Porter's Analysis

Threat of new entrants: The cancer therapeutics and biotherapeutics market requires high R&D investments and clinical trials, creating entry barriers for new players.

Bargaining power of buyers: Individual customers have low bargaining power due to availability of limited treatment options, whereas large healthcare providers have higher negotiation power.

Bargaining power of suppliers: Suppliers of raw materials and key technologies have moderate bargaining power owing to differentiated nature of inputs and innovations.

Threat of new substitutes: Alternate treatment methods possess limited scope as a substitute due to focus on specific cancer types.

Competitive rivalry: Major players compete based on proprietary technologies, product differentiation and portfolio expansion into new therapeutic areas through investments.

Geographical Regions

North America currently dominates the global cancer therapeutics and biotherapeutics market in terms of value, given presence of key pharmaceutical companies and availability of advanced healthcare facilities for cancer treatment.

Asia Pacific region is poised to be the fastest growing market during the forecast period, attributed to rising healthcare expenditure, growing cancer incidence, and increasing access to innovative therapeutics in emerging countries.

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

 

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