Cancer Biological Therapy Market
Number of pages: 100 | Report Format: PDF | Published date: June 20, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 98 billion |
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Revenue Forecast in 2031 |
US$ 177.16 billion |
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CAGR |
6.8% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Type, Cancer Type, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global cancer biological therapy market was valued at US$ 98 billion in 2022 and is expected to register a revenue CAGR of 6.8% to reach US$ 177.16 billion by 2031.
Cancer Biological Therapy Market Fundamentals
Biological therapy, also known as targeted or precision therapy, refers to a type of treatment that uses substances derived from living organisms or their components to specifically target and attack cancer cells. Unlike traditional chemotherapy, which affects both cancerous and healthy cells, biological therapies are designed to selectively target cancer cells or the specific molecules and pathways involved in cancer growth and progression. Cancer biological therapies are designed to specifically target cancer cells or components of the tumor microenvironment, offering a more tailored and personalized approach to cancer treatment. The cancer biological therapy market has experienced significant growth in recent years due to advancements in understanding the biology of cancer and the development of innovative targeted therapies. These therapies include monoclonal antibodies, immune checkpoint inhibitors, cancer vaccines, adoptive cell therapies (e.g., CAR-T cells), and oncolytic viruses.Biological therapies can be personalized based on the molecular characteristics of an individual's tumor. Biomarker testing, such as genetic profiling or molecular diagnostics, helps identify specific mutations or protein expressions that can guide the selection of the most appropriate biological therapy for a particular patient.
Cancer Biological Therapy Market Dynamics
The global cancer biological therapy market is driven by several factors that contribute to its growth and development. There is an increasing demand for more efficient and tailored treatment alternatives as the incidence of cancer increases globally. According to the International Agency for Research on Cancer (IARC), there would be 27.5 million new instances of cancer and 16.3 million cancer-related deaths globally by 2040. The demand for cancer biological therapies is fueled by the possibility of better treatment outcomes, less side effects, and higher quality of life for cancer patients. Cancer biological therapies are frequently individualized for each patient based on factors such as their unique cancer kind, genetic abnormalities, and immune system health. This personalized medicine approach, enabled by biomarker testing and molecular diagnostics, has the potential to improve treatment outcomes by selecting the most appropriate therapy for each patient. Extensive funding for R&D activities carried out by various biopharmaceutical, pharmaceutical, and research institutes engaged in developing biologic cancer drugs would boost the cancer biological therapy industry. Substantial funding from governments in emerging nations such as the United Kingdom has greatly aided major pharmaceutical companies' ongoing drug discovery efforts. Such investments and support also improve the operational capabilities of the companies and research institutes involved in developing effective cancer therapy, drugs, and vaccines. Gene therapy has appeared as an opportunity for market leaders, owing to a number of advantages over other traditional cancer therapies, as well as recent advances in this field. The increase in biotechnological funding, which is encouraging extensive R&D activities in cancer gene therapy, is expected to be a significant cancer biological therapy industry trend in the coming years.
Biological medication therapy does not come without side effects, despite the fact that it yields great benefits. Upper respiratory tract infections, excessive triglyceride levels, and cardiovascular occurrences, which happened in 20% of patients, were the most frequent adverse effects, per the drug safety evaluations. Biological treatments for cancer can be costly as well because of the difficulty involved in developing, producing, and administering them. In terms of accessibility and affordability for patients, the high expenditures connected with research, clinical trials, manufacturing, and personalized medical techniques can present problems.
Cancer Biological Therapy Market Ecosystem
The global cancer biological therapy market is analyzed from the following perspectives: type, cancer type, end user, and region.
Cancer Biological Therapy Market by Type
Based on the type, the global cancer biological therapy market is segmented into vaccines, cancer growth blockers, monoclonal antibodies, and cytokines. The vaccines segment is further classified into therapeutic vaccines and preventive vaccines. The cancer growth blockers segment is divided into mTOR inhibitors, proteasome inhibitors, and tyrosine kinase inhibitors. Monoclonal antibodies are segmented into bispecific MABs and conjugated MABs. The cytokines segment has been further divided into interferons and interleukins.
The vaccine segment is anticipated to grow at the fastest revenue share in the global cancer biological therapy market. Highly efficient cancer vaccines can recognize and kill particular antigens while boosting immunity. By strengthening the immune system, these vaccines reduce the possibility of acquiring cancer in the near future. Many people take these immunizations to prevent breast, bladder, and cervical cancer. The attraction of the market will increase with the rise in cancer incidence in emerging nations like India and the growing use of vaccines in cancer treatment. In terms of CAGR, the vaccines segment is anticipated to grow at the rate of over 10% during the forecast period.
The antibodies segment is expected to grow the most in the coming years. They are used more frequently in cancer therapy as a result of their capacity to target particular proteins on the cell surface. In the upcoming years, segmental growth will also be fueled by patients growing choice for advanced cancer biological therapy over hazards connected with anti-cancer medication therapy. These laboratory-made antibodies target protein molecules expressed by cancerous development.
Cancer Biological Therapy Market by Cancer Type
Based on the cancer type, the global cancer biological therapy market is segmented into breast cancer, colorectal cancer, lung cancer, pancreatic cancer, blood cancer, and others.
The breast cancer segment accounts for the highest revenue share in the global cancer biological therapy market. According to WHO, around 2.26 million cases of breast cancer were reported globally. Approximately 20-25% of breast cancer cases are classified as HER2-positive, meaning they overexpress the human epidermal growth factor receptor 2 (HER2) protein. Biological therapy like trastuzumab (Herceptin), pertuzumab (Perjeta), and ado-trastuzumab emtansine (Kadcyla) have revolutionized the treatment of HER2-positive breast cancer. These drugs specifically target the HER2 protein, blocking its signals or delivering cytotoxic agents directly to the cancer cells, leading to improved outcomes.
Cancer Biological Therapy Market by End User
Based on the end user, the global cancer biological therapy market is segmented into hospitals, homecare, specialty centers, and others.
Specialized centers segment accounts for the highest revenue share in the global e cancer biological therapy industry. With the assistance of significant funding from governments and commercial businesses around the world, there has been a huge increase in the number of cancer research facilities and labs. The segment is growing because there are more treatment alternatives available and because there are more cancer treatment facilities in some developing countries. The segment is being driven forward by the rising global burden of cancer caused by rising cigarette and alcohol use.
Cancer Biological Therapy Market by Region
Geographically, the global cancer biological therapy market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the majority of the revenue share in the global cancer biological therapy market at 42% in 2022. The United States has emerged as the market leader in North America and globally due to the favorable reimbursement landscape paired with large healthcare expenditures. The U.S. market stands to profit from increased R&D investments as well as government initiatives, in addition to the extensive network of biological cancer vaccines and medicine producers. Affordable health insurance plans for terminal conditions motivate patients to seek treatment, driving up market value. The U.S. market for cancer gene therapy has grown significantly over the years as a result of the strong treatment pipeline and the increased focus of various players on the creation of cutting-edge cancer gene treatments and associated vectors. For instance, on June 27, 2022, the Cancer Institute, Inc., a value-based oncology organization in the United States, stated that it has renewed its collaboration agreement with McKesson Corporation for the purpose of drug distribution and clinical technology.
The cancer biological therapy market in the Asia Pacific region is experiencing significant growth and is expected to continue growing in the coming years. The Asia Pacific region has witnessed a rising burden of cancer due to factors such as population growth, aging populations, lifestyle changes, and increased access to healthcare. This growing prevalence of cancer is driving the demand for effective treatment options, including biological therapies. With greater awareness about cancer and its treatment options, patients in the Asia Pacific region are increasingly seeking advanced therapies, including biological treatments. The demand for personalized and targeted therapies is growing as patients and their families become more educated about the benefits of biological therapies in terms of improved outcomes and reduced side effects.
Cancer Biological Therapy Market Competitive Landscape
The prominent players operating in the global cancer biological therapy market are: -
Cancer Biological Therapy Market Strategic Developments
Cancer biological therapy, also known as targeted or precision therapy, refers to a type of treatment that uses substances derived from living organisms or their components to specifically target and attack cancer cells.
The revenue CAGR for the cancer biological therapy market is 6.8% during the forecast period.
F. Hoffmann-La Roche Ltd., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Sun Pharmaceutical Industries Ltd., and Bayer AG are a few of the major players in the global cancer biological therapy market.
Asia Pacific region is estimated to progress at the highest growth rate in the global cancer biological therapy market.
The side effects associated with the therapy and the high cost of therapy are the factors restraining the growth of the global cancer biological therapy market.
*Insights on financial performance are subject to the availability of information in the public domain