Cancer Biologics Market Growth Accelerated by Rising Cancer Incidence Rates

Cancer Biologics Market


Cancer Biologics are complex medical drugs that harness the power of living organisms and biological processes to treat and prevent cancer. These biologics utilize monoclonal antibodies, therapeutic vaccines, and other biological therapies to target specific antigens andmolecules involved in cancer growth and progression. With the rising global cancer burden and increasing preference for targeted and personalized treatment approaches, the demand for innovative Cancer Biologics has significantly grown in recent years.

The global Cancer Biologics Market is estimated to be valued at US$ 174.8 billion in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 - 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the growth of the Cancer Biologics market is the rising incidence and prevalence of various cancer types globally. According to the World Health Organization (WHO), cancer is the second leading cause of death worldwide and was responsible for nearly 10 million deaths in 2020. The four most common cancers globally are lung cancer, breast cancer, colorectal cancer, and prostate cancer. The high disease burden has increased the focus on development as well as adoption of advanced targeted therapies to improve clinical outcomes. Many biologics in late stage pipelines have demonstrated promising results for hard-to-treat cancers and this is expected to significantly drive their approvals and commercialization during the forecast period. Additionally, growing healthcare expenditures and increasing access to healthcare facilities particularly in developing nations will continue to boost the adoption of high-cost biologic drugs for cancer treatment.

Segment Analysis
The global Cancer Biologics market is segmented by drug class, application, end user, and geography. The drug class segment includes monoclonal antibodies, cancer vaccines, checkpoint inhibitors, interleukins and others. Among these, the monoclonal antibodies segment holds the largest market share as they are established and widely accepted treatment options for various cancer types. They target specific antigenic sites present on the surface of cancer cells and have high specificity and accuracy in destroying cancer cells.

Key Takeaways
Cancer Biologics Market Size is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis: North America currently dominates the market. This is attributed to growing incidences of cancer, presence of advanced healthcare infrastructure, growing awareness about Cancer Biologics, and rising uptake of novel drugs in the region. Europe is expected to be the second largest market during the forecast period.

Key players operating in the Cancer Biologics market are Bristol Myers Squibb, F. Hoffmann-La Roche AG, Merck & Co., Inc., Novartis International AG, Johnson & Johnson, Amgen Inc., AbbVie, Inc., AstraZeneca PLC, Eli Lilly and Company, and Celgene Corporation. The market is consolidated in nature with top five players accounting for over 70% of the overall market share.

Comments

Post a Comment

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

Image
Security Robot Market The Security Robot Market is estimated to be valued at US$ 11.8 billion in 2022 and is expected to exhibit a CAGR of 12.87% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Security Robot Market encompasses advanced robotic technologies that are specifically designed and developed to enhance security and surveillance operations. These robots are equipped with features such as video surveillance, thermal imaging, facial recognition, and intrusion detection, among others. They are extensively used by security agencies and organizations across various sectors, including residential, commercial, industrial, and government, to enhance safety, reduce human intervention, and streamline security operations. Security robots offer real-time monitoring, remote control, and high accuracy, making them an ideal choice for surveillance in sensitive areas and remote locations. Market Dynamics:
Read more

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Image
  Scottish Whisky Market The Scottish Whisky Market is a captivating landscape that has been evolving and transforming over the years. It is a world of tradition, craftsmanship, and heritage, where every drop of whisky tells a story. The history of Scottish whisky traces back centuries, with the earliest records dating back to the 15th century. Whisky production initially started in monasteries, where monks distilled spirits for medicinal purposes. Over time, whisky production moved from monastic settings to farms and then to commercial distilleries. This transition marked the beginning of an industry that would become synonymous with Scotland. Scottish Whisky Market Was Valued At US$ 4.97 Bn In 2018, And It Is Expected To Reach US$ 7.89 Bn By The End Of 2027, Exhibiting A CAGR Of 5.3% During The Forecast Period (2019 To 2027). One of the defining characteristics of the Scottish Whisky Market is its adherence to traditional production methods. Scotch whisky is made from malted b
Read more

Monochloroacetic Acid (MCAA) Market Is Estimated To Witness High Growth Owing To Increasing Demand for Surfactants and Herbicides

Image
Monochloroacetic Acid (MCAA) Market The Monochloroacetic Acid (MCAA) Market is estimated to be valued at USD 676.52 Million in 2022 and is expected to exhibit a CAGR of 7.03% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Monochloroacetic Acid (MCAA) Market is driven by the increasing demand for surfactants and herbicides in several industries such as agriculture, pharmaceuticals, textiles, and personal care. MCAA is extensively used in the production of surfactants, herbicides, and carboxymethyl cellulose (CMC), which are essential in various applications. These applications include detergents, agrochemicals, pharmaceuticals, dyes, and cosmetics, among others. The versatile properties of MCAA, such as its ability to act as a raw material in the production of herbicides and surfactants, make it highly desirable in the market. Market Dynamics: The Monochloroacetic Acid (MCAA) Market is driven by two k
Read more