Biological Therapies for Cancer Market Forecast 2024 to 2032
The Biological Therapies for Cancer Market was valued at USD 79.96 Billion in 2022 and is expected to register CAGR of 12.4% by 2032.
Cancer treatment, known as biological therapy,” makes use of the immune system to combat malignant cells without harming healthy ones. The biological medication therapy, including monoclonal antibodies, works by either slowing the growth of the tumour or increasing cell death. It is crucial to the healthcare industry; therefore, considerable growth is anticipated over the projection period.
The global market for biological therapies for cancer is anticipated to grow as a result of the rising incidence of cancer cases and the rise in the number of specialised cancer treatment facilities around the world. Many experts in the biological therapies for cancer market are concentrating on using nanotechnology to provide patients with developing therapies. COVID-19 also had a significant effect on the market’s expansion.
Report Overview
The Biological Therapies for Cancer Market was valued at USD 79.96 Billion in 2022 and is expected to register CAGR of 12.4% by 2032.
Recent Developments:
1. The Food and Drug Administration authorized a novel targeted therapy for difficult-to-treat advanced tumors on January 27, 2023.
2. Zenocutuzumab is a humanised BsAb accepted by the FDA in 2021.
3. The United Kingdom received $11.4 million in funding for cancer research in May 2022.
4. Enhertu was approved in the United States in May 2022 for patients with HER2-positive advanced breast cancer who have been treated previously with an anti-HER2-based regimen.
The Biological Therapies for Cancer industry is segmented by By Type of products (Monoclonal antibodies, Vaccines, Cancer growth blockers, Blood cell growth factors, Cytokines), By End Use (Specialized cancer treatment centers, Hospitals Pharmacies, Retail Pharmacies)
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Report Coverage:
| By Type | Monoclonal antibodies Vaccines Cancer growth blockers Blood cell growth factors Cytokines |
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| By Application | Specialized cancer treatment centers Hospitals Pharmacies Retail Pharmacies |
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| By Region | North America Latin America Western Europe Eastern Europe Middle East & Africa Asia Pacific Emerging Countries |
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| Report Base Year | 2022 | ||
| Report Forecast Year | Upto 2032 | ||
| Historical Data | 2018-2022 | ||
| Qualitative Info | Value Chain Analysis Pricing Analysis Regional Outlook Market Trends Market Share Analysis Competition Analysis Technological Advancements |
Market Drivers
Increase in Cancer Cases
The global market for cancer biological therapy will grow throughout the predicted period due to an increase in cancer cases worldwide. According to statistics from the American Cancer Society for 2016, the majority of SCLC cases usually affect people between the ages of 60 and 80, with an estimated 30,000 deaths each year worldwide. Additionally, according to WHO estimates, lung cancer claimed 1.59 million lives in 2012 and is the second most common malignancy in both men and women. This accelerates market expansion.
Rising Healthcare Awareness
Patients and medical professionals are becoming more aware of the prevalence of cancer. Today, both patients and physicians are taking a more active role in learning about the medicines that are available to treat these serious disorders. One of the most significant market drivers is this. As a result, the market has additional opportunities.
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Key Questions Addressed in the Report Include:
Which market segments are generating the most revenue?
What is the geographical outlook for various market segments?
Where are the future investment opportunities considering the recent trends?
What is the effect of various market dynamics on the market and how will the market shape in future?
Which are Potential & niche segments and regions exhibiting promising growth?
What are the current challenges in Biological Therapies for Cancer market?
Who are the major players in the Biological Therapies for Cancer Market and what does market share analysis looks like?
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