Visiongain has launched a new report on Cancer Biologics Market Report 2021-2031 Forecasts by Treatment (Chemotherapy, Targeted Therapy, Immunotherapy, Hormonal Therapy, Others), by Product (Monoclonal Antibodies, Cytokines, Cancer Growth Blockers, Vaccines, Blood Cell Growth Factors, and Others), by Indication (Breast Cancer, Cervical Cancer, Colon and Rectal Cancer, Gastric Cancer, Lung Cancer, Ovarian Cancer, Renal Cell Cancer, Melanoma), by Biologic Drugs (Bevacizumab, Trastuzumab, Trastuzumab Emtansine, Pertuzumab, Rituximab, Cetuximab, Panitumumab, Ramucirumab, Necitumumab, Pembrolizumab, Atezolizumab, Durvalumab, Nivolumab, Ipilimumab), by End-user (Hospitals, Specialty Clinics, Cancer and Radiation Therapy Centres) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Cancer Biologics Companies AND COVID-19 Recovery Scenarios.
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The main drivers for the growth include technological advancements in the development of novel biomarkers, rising preference for minimally or less invasive surgeries, increasing cancer awareness leading to growth in cancer cases, and growing disposable income in emerging economies. Moreover, rising number of pre-screening programs for cancer detection using liquid biopsy are expected to provide new market opportunities for cancer biologics therapy in near future. Biologics include a wide range of drugs that specifically target cancer cells, stimulate the immune response, and/or aid in recovery from cancer treatment. Biologics are often used in combination with other therapies, including chemotherapy.
As biopharmaceuticals become an increasingly significant and lucrative component of the healthcare industry, the demand for resources, including staffing, is rapidly scaling. As a consequence, year on year, hiring the people with the right skill set is creating real bottlenecks. For instance, ~45% of facilities are having trouble hiring downstream process development staff, a critical position in the development of a biologic. These problems have existed since at least 2010 and are expected to continue to grow. Which in turns is expected to be the key restraint for cancer biologics therapy market over the coming years.
The global demand for cancer biologics therapy is expected to expand significantly over the projected period, owing to the expanded acceptance of biologics by cancer care regulatory authorities. Blinatumomab, for example, was approved by the U.S. Food and Drug Administration (FDA) in 2018 for patients with B-cell precursor acute lymphoblastic leukaemia, which indicates a decline in the seriousness of the disorder. Moreover, in January 2020, Roche announced submission of supplemental biological license to U.S Food and Drug Administration (FDA) for Tecentriq (atezolizumab), in combination with Avastin (bevacizumab) drug for most common form of liver cancer. Therefore, increasing number of regulatory approvals of biologic drug for the treatment of cancer, is expected to boost of cancer biologics market growth over the forecast period.
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High costs associated with cancer biologics, however, are one of the major constraints projected to hamper the development of the global cancer biologics industry. Blinatumomab, for example, costs US$ 17,800 per annum. In addition, cancer-related biological drug side effects, such as allergic reactions, injection site reactions, fatigue, diarrhoea, nausea, vomiting, and rash, are just another reason hindering the development of the global cancer biologics therapy industry.
Companies Profiled in the Report
- AbbVie Inc
- Hoffman La Roche
- GlaxoSmithKline
- Eli Lilly and Company
- Amgen
- Johnson & Johnson
- Merck & Co.
- Pfizer
- Agilent Technologies, Inc.
- Bio-Rad Laboratories
- GE Healthcare
- Illumina
- Qiagen N.V.
- Biocept
- Guardant Health
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