Cancer Biological Therapy Market to Grow with a CAGR of 7.55% through 2028
Rising cancer burden, biotechnological innovations,
and immunotherapy breakthroughs are expected to drive the Global Cancer
Biological Therapy Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Cancer
Biological Therapy Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Cancer
Biological Therapy Market stood at USD 96.33 billion in 2022 and is anticipated
to grow with a CAGR of 7.55% in the forecast period, 2024-2028. This can be
attributed to expanding global markets. The market for cancer biological
therapy is expanding globally, with emerging markets in Asia-Pacific, Latin
America, and the Middle East showing significant potential. Improved healthcare
infrastructure, increasing awareness, and rising disposable incomes in these
regions have contributed to market growth.
In addition, the integration of digital health tools
and artificial intelligence (AI) in cancer care is streamlining diagnostics,
treatment monitoring, and patient management. AI-driven algorithms can analyze
large datasets, identify treatment patterns, and assist in clinical
decision-making.
The surge in cancer cases has heightened the demand
for cancer biological therapy, leading to an increase in its market share.
Furthermore, it has gained global popularity due to its perceived safety and
effectiveness as a viable alternative. According to the World Health
Organization (WHO), the incidence of cancer is on a significant rise worldwide,
thus expanding the market for cancer biological therapy. The global aging
population has also contributed to the growth of this market. This is because
biological therapy for cancer treatment is a targeted approach that minimizes
harm to healthy cells surrounding the affected area, making it a preferred
choice over traditional chemotherapies in the market.
September is recognized as Blood Cancer Awareness
Month. Since 2017, the Leukemia & Lymphoma Society® (LLS) has played a
significant role in advancing 54 out of the 64 blood cancer therapy options
approved by the U.S. Food and Drug Administration.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Cancer Biological Therapy Market.”
The Global Cancer Biological Therapy Market is
segmented into product, distribution channel, regional distribution, and
company.
Based on its product, it is anticipated that the antibodies
sector will assume a leading position in 2022. Antibodies are poised for
substantial growth in the foreseeable future, primarily owing to their capacity
to precisely target proteins on the cell surface. This precision makes them
increasingly valuable in cancer therapy. Furthermore, the growing preference
among patients for advanced biological therapies for cancer, which aim to
mitigate the risks associated with traditional anti-cancer drug treatments,
will fuel the expansion of this segment.
These laboratory-produced antibodies are designed to
combat protein molecules expressed by malignant tumors. Examples of antibody
medications in this category include rituximab, employed in the treatment of
non-lymphoma; Hodgkin's alemtuzumab (Campath), utilized in the management of
chronic leukemia (CLL); and ipilimumab (Yervoy), employed in the treatment of
malignant melanoma. Moreover, the growing inclination towards advanced
biological treatments for cancer, as a means to reduce the risks tied to conventional
anti-cancer drugs, is poised to bring about significant growth within this
segment. For instance, in the case of breast cancer, trastuzumab (Herceptin,
Kanjinti, Ogivri) serves as an exemplar of a laboratory-developed antibody. It
operates by impeding the proliferation of cancer cells through targeted
adherence to specific regions on these cells.
Based on distribution channel, Retail and mail-order
pharmacies are expected to command a substantial market share in the Global
Cancer Biological Therapy Market during the forecast period for several
compelling reasons. Firstly, the increasing prevalence of cancer worldwide
necessitates easy access to advanced therapies, and retail and mail-order
pharmacies provide a convenient distribution channel for these treatments.
Moreover, as patients and healthcare providers increasingly opt for
personalized cancer therapies, the ability of retail and mail-order pharmacies
to offer a wide range of biological therapies tailored to individual patient
needs positions them favorably in the market. Additionally, the global trend
toward home-based healthcare services further accentuates the significance of
these pharmacies, as they enable patients to access and receive cancer
biological therapies in the comfort of their homes, promoting greater patient
compliance and treatment effectiveness. As a result, the retail and mail-order
pharmacy segment is poised to play a pivotal role in the growth and
accessibility of cancer biological therapies during the forecast period.
Major companies operating in Global Cancer
Biological Therapy Market are:
- F Hoffmann-La Roche AG
- Novartis AG
- Merck & Co., Inc.
- Amgen Inc
- GSK PLC
- Celgene Corp
- Pfizer Inc
- Zydus Lifesciences Ltd
- Sun Pharmaceutical Industries Ltd
- Bayer AG
Download Free Sample Report
Customers can also request for 10% free customization
on this report.
“The global cancer biological therapy market is
characterized by rapid innovation and a commitment to improving patient
outcomes. The emerging trends, driven by advancements in science and
technology, are poised to reshape the landscape of cancer care. As research
continues and trends gain momentum, the future of cancer treatment holds
promise for more targeted, effective, and personalized therapies, ultimately
offering hope to patients and their families worldwide,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Cancer Biological Therapy Market By Product
(Cancer Growth Blockers, Monoclonal Antibodies, Vaccines), By Distribution
Channel (Hospitals, Retail & Mail Order Pharmacies), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Cancer Biological Therapy Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Cancer Biological Therapy Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com