Cancer Biologics Market size is set to grow by USD 51.08 billion from 2024-2028, Rising global incidence of cancer boost the market, Technavio
NEW YORK, May 30, 2024 /PRNewswire/ -- The global cancer biologics market size is estimated to grow by USD 51.08 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.18% during the forecast period.
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Segment Overview
1. Product
-- 1.1 Monoclonal antibodies
-- 1.2 Cell and gene therapy
-- 1.3 Vaccines
-- 1.4 Others
2. Route Of Administration
-- 2.1 Injectable
-- 2.2 Oral
3. Geography
-- 3.1 North America
-- 3.2 Europe
-- 3.3 Asia
-- 3.4 Rest of World (ROW)
1.1 Monoclonal antibodies- Monoclonal antibodies play a significant role in cancer treatment through targeted therapy and immunotherapy. These antibodies inhibit tumor growth by acting on specific targets, primarily cascade proteins involved in angiogenesis. Minimal side-effects make monoclonal antibodies highly sought-after for various cancer types. Approved monoclonal antibodies include Herceptin, Avastin, and others. New drug approvals and a large pipeline contribute to the market's growth, with monoclonal antibodies leading the cancer biologics sector.
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Cancer Biologics Market Scope
Report Coverage
Details
Base year 2023
Historic period
2017 - 2020
Forecast period
2024-2028
Growth momentum & CAGR Accelerate at a CAGR of 9.18%
Market growth 2024-2028
USD 51.08 billion
Market structure
Fragmented
YoY growth 2022-2023 (%) 8.16
Regional analysis North America, Europe, Asia, and Rest of
World
(ROW)
Performing market contribution North America at 47%
Key countries US, Canada, UK, Germany, and China
Key companies profiled Amgen Inc., AstraZeneca Plc, Bayer AG,
Biocon
Ltd., Biogen Inc., Bristol Myers Squibb
Co.,
Celltrion Co. Ltd., Cipla Ltd., Dr
Reddys
Laboratories Ltd., Eli Lilly and Co., F.
Hoffmann
La Roche Ltd., Gilead Sciences Inc.,
GlaxoSmithKline Plc, Jazz
Pharmaceuticals Plc,
Johnson and Johnson, Lupin Ltd., Merck
KGaA,
Novartis AG, Ono Pharmaceutical Co.
Ltd., and
Viatris Inc.
Market Driver
The cancer biologics market is witnessing an increase in strategic collaborations among manufacturers. In 2021, Curia acquired LakePharma Inc., a US-based CRDMO, to expand its capabilities in biologics discovery and manufacturing. In 2020, Cytovance Biologics collaborated with Akshaya Bio to provide quick access to clinical materials using Akshaya's technology. In 2019, Bristol-Myers Squibb acquired Celgene for USD74,000 million to broaden their offerings for cancer patients. These collaborations and acquisitions will boost the growth of the cancer biologics market.
The Cancer Biologics Market is experiencing significant growth due to the increasing demand for innovative treatments. Biologics, such as monoclonal antibodies and cell therapies, are becoming key players in cancer treatment. Companies are investing in research and development to bring new products to market. For instance, there is a focus on developing targeted therapies and immunotherapies.
Additionally, there is a trend towards personalized medicine, which involves tailoring treatments to individual patients based on their genetic makeup. Vaccines and gene therapies are also gaining attention in the cancer biologics market. Overall, the market is expected to continue growing as new treatments are discovered and approved.
Market Challenges
-- The cancer biologics market is characterized by high costs due to
advanced production processes and regulatory requirements. Monoclonal
antibodies, such as KEYTRUDA and TECENTRIQ, have expensive production
procedures and skilled personnel needs, leading to high prices.
-- Gene therapies, like KYMRIAH, require individualized design and advanced
procedures, further increasing costs. These high prices limit
affordability and availability, particularly in low and middle-income
countries. Reimbursement is a challenge due to the cost of mandatory
companion diagnostics and insurers' preference for biosimilars over
biologics.
-- The Cancer Biologics Market faces several challenges in the adoption and
implementation of various therapies. These include the high cost of
advanced cell technologies, regulatory hurdles, and the need for
personalized treatment plans. Additionally, the complexity of cancer
biology and the diversity of cancer types pose significant challenges in
developing effective therapies.
-- Furthermore, the lack of standardized testing methods and the need for
long-term clinical trials add to the difficulties. Despite these
challenges, the market continues to grow due to the potential of these
therapies to offer more targeted and effective treatments for cancer
patients.
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Research Analysis
The Cancer Biologics Market encompasses a range of innovative treatments derived from living organisms, including animals, humans, and microorganisms. Biotechnology plays a pivotal role in the production of these therapies, which include Blood-derived components, such as vaccines and immunoconjugates, as well as Cell-based therapies, like Adoptive cell transfer and Cytokine therapy.
Genetic material, specifically Genes, is utilized in Gene therapy and Monoclonal antibodies. In the realm of Oncology, various approaches are employed, including Cancer vaccines, Oncolytic virus therapy, and Targeted drug therapy. Clinical trials are essential for the development and approval of these advanced treatments.
Market Research Overview
The Cancer Biologics Market refers to the sector focused on developing and commercializing therapeutic products derived from living organisms for the prevention, treatment, and diagnosis of cancer. This market encompasses various types of biologics, including monoclonal antibodies, immunotherapies, gene therapies, and cellular therapies. The market is driven by the increasing prevalence of cancer worldwide, advancements in biotechnology, and growing demand for personalized cancer treatments.
The Alliance for Cancer Gene Therapies, Cells for Cancer Therapy, and the American Society of Gene and Cell Therapy are some organizations contributing to the advancement of cancer biologics. The market is also influenced by regulatory frameworks, reimbursement policies, and technological innovations in the field of cancer research.
The use of vaccines, targeted therapies, and combination therapies are some trends shaping the cancer biologics market. The market is expected to grow significantly in the coming years due to the increasing number of cancer survivors and ongoing research and development efforts.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
-- Product
-- Monoclonal Antibodies
-- Cell And Gene Therapy
-- Vaccines
-- Others
-- Route Of Administration
-- Injectable
-- Oral
-- Geography
-- North America
-- Europe
-- Asia
-- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
