NEW YORK, United States, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Cancer Biological Therapy Market By Application (Diagnostic Laboratories, Hospitals, Pharmaceutical & Biotechnology Companies, And Research & Academic Laboratories), By Product (Vaccines {Therapeutic Vaccines And Preventive Vaccines}, Monoclonal Antibodies {Conjugated Monoclonal Antibodies, Naked Monoclonal Antibodies, And Bispecific Monoclonal Antibodies}, Blood Cell Growth Factors {Filgrastim And Lenograstim}, Cancer Growth Blockers {Proteasome Inhibitors, Tyrosine Kinase Inhibitors, And MTOR Inhibitors}, And Cytokine {Interleukin And Interferon}), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the global Cancer Biological Therapy Market size & share was valued at around USD 112 billion in 2022. The market is expected to grow above a CAGR of 7.2% and is anticipated to reach over USD 220 billion by 2030.”
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Cancer Biological Therapy Market Overview:
Biological therapy or biotherapy is a novel approach for treating cancer. In addition to biologicals, it uses biological response modifiers to treat cancer. Moreover, biological response modifiers, also known as biologicals, are derived from mammalian cells and enhance the immune response. The introduction of molecular biological procedures and hybridoma technology has resulted in the fabrication of these substances in massive quantities and highly pure form for use in biological cancer therapy. In addition, nanomedicine provides a tool of biocompatible systems that can deliver conventional chemotherapeutic drugs in vivo while increasing their bioavailability and release profile around malignant tumours. According to reports, nanoparticles can be used for diagnostic and therapeutic purposes in oncology.
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Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 112 Billion |
| Market Forecast in 2030 | USD 220 Billion |
| Growth Rate | CAGR of 7.2% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Bristol-Myers Squibb, Spectrum Pharmaceuticals, Amgen, F. Hoffmann-La Roche, AbbVie, AstraZeneca, Novartis AG, Astellas, Pfizer, Celgene Corporation, Sanofi, Takeda Pharmaceuticals, Bayer, ELI Lilly & Company, Eisai, GlaxoSmithKline, Merck, Incyte, Otsuka, and Seattle Genetics. |
| Segments Covered | By Application, By Product Type, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Key Insights from Primary Research
- The global cancer biological therapy market is anticipated to record massive growth over the forecast period owing to the cancer biological therapies like oncolytic virus therapy and immunotherapy are well tolerated by the bodies of the patients and have low side-effects as compared to chemotherapies due to its effective immune tolerance mechanisms.
- In terms of application, the hospital segment is slated to register the fastest CAGR over the analysis period.
- Based on the product type, the monoclonal antibodies segment is predicted to lead the segmental surge over the forecast timeline.
- Region-wise, the Europe cancer biological therapy market is projected to register the highest CAGR during the assessment timeline.
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Cancer Biological Therapy Market: Growth Factors
- Rise in cancer will enhance global market demand
Cancer is one of the leading causes of mortality around the world, and in recent years, a large number of research studies have demonstrated the need for introducing new treatments to reduce the side effects of conventional therapies. This factor is anticipated to drive global market trends for biological cancer therapies. Due to their efficient immune tolerance mechanisms, cancer biological therapies such as oncolytic virus therapy and immunotherapy are well tolerated by patients' bodies and have fewer side effects than chemotherapies. This will help the market attain new growth terrains during the forecast period.
Cancer Biological Therapy Market: Restraints
- Treatment side effects can impede worldwide industrial growth
Side effects observed in patients enduring biological treatment for cancer can hinder the global expansion of the cancer biological therapy industry. For instance, the most common infections caused by cancer biological therapy are upper respiratory tract infections, cardiac conditions, and an increase in the patients' triglyceride levels.
Cancer Biological Therapy Market: Segmentation
The global cancer biological therapy market is sectored into application, product type, and region.
In application terms, the global cancer biological therapy market is segregated into diagnostic laboratories, hospitals, pharmaceutical & biotechnology companies, and research & academic laboratories segments. Moreover, the hospitals segment, which garnered nearly 55% of the global market share in 2022, is projected to record the fastest CAGR in the projected timeline.
Based on the product type, the global cancer biological therapy industry is bifurcated into monoclonal antibodies, cancer growth blockers, vaccines, blood cell growth factors, and cytokine segments. In addition to this, the monoclonal antibodies segment, which contributed about half of the global industry share in 2022, is set to establish segmental dominance in the assessment period.
Browse the full “Cancer Biological Therapy Market By Application (Diagnostic Laboratories, Hospitals, Pharmaceutical & Biotechnology Companies, And Research & Academic Laboratories), By Product (Vaccines {Therapeutic Vaccines And Preventive Vaccines}, Monoclonal Antibodies {Conjugated Monoclonal Antibodies, Naked Monoclonal Antibodies, And Bispecific Monoclonal Antibodies}, Blood Cell Growth Factors {Filgrastim And Lenograstim}, Cancer Growth Blockers {Proteasome Inhibitors, Tyrosine Kinase Inhibitors, And MTOR Inhibitors}, And Cytokine {Interleukin And Interferon}), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/cancer-biological-therapy-market
Regional Analysis:
- North America to contribute majorly towards global market Share
The growth of the cancer biological therapy market in North America over the forecast period is susceptible to an increase in cancer incidences in countries such as the United States. In addition to this, an increase in the proportion of the ageing populace prone to chronic afflictions like cancer will prompt the regional market surge in the coming years. Together, the region's robust healthcare infrastructure and favourable compensation policies will contribute to the market's meteoric expansion. Affordable health insurance and cutting-edge gene therapies will allow the North American market to experience a massive expansion.
Due to the rise in public awareness about oncology and the continent's increasing demand for advanced cancer therapies, the European market for cancer biological therapies is expected to post the highest CAGR over the forecast period. Aside from this, the presence of key actors in European nations will significantly contribute to the industry's growth on the continent in the coming years.
Competitive Players:
The report contains qualitative and quantitative research on the global Cancer Biological Therapy market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Cancer Biological Therapy market include;
- Bristol-Myers Squibb
- Spectrum Pharmaceuticals
- Amgen
- F. Hoffmann-La Roche
- AbbVie
- AstraZeneca
- Novartis AG
- Astellas
- Pfizer
- Celgene Corporation
- Sanofi
- Takeda Pharmaceuticals
- Bayer
- ELI Lilly & Company
- Eisai
- GlaxoSmithKline
- Merck
- Incyte
- Otsuka
- Seattle Genetics
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The global Cancer Biological Therapy market is segmented as follows:
By Application
- Diagnostic Laboratories
- Hospitals
- Pharmaceutical & Biotechnology Companies
- Research & Academic Laboratories
By Product Type
- Monoclonal Antibodies
- Naked Monoclonal Antibodies
- Conjugated Monoclonal Antibodies
- Bispecific Monoclonal Antibodies
- Vaccines
- Preventive Vaccines
- Therapeutic Vaccines
- Cancer Growth Blockers
- Tyrosine Kinase Inhibitors
- Proteasome Inhibitors
- mTOR Inhibitors
- Blood Cell Growth Factors
- Lenograstim
- Filgrastim
- Cytokine
- Interferon
- Interleukin
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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FREQUENTLY ASKED QUESTIONS
What is cancer biological therapy?
Biological therapy or biotherapy is a new cancer treatment method. It makes use of biological response modifiers as well as biologicals for treating cancer.
Which key factors will influence global cancer biological therapy market growth over 2023-2030?
The global cancer biological therapy market growth is owing to the launching of new cancer biologics & drug discovery platforms for treating cancer.
What will be the value of the global cancer biological therapy industry during 2023-2030?
According to a study, the global cancer biological therapy industry size was $112 billion in 2022 and is projected to reach $220 billion by the end of 2030.
Which region will record the highest rate of growth in the cancer biological therapy industry globally?
The Europe cancer biological therapy industry is set to register the highest CAGR over the forecasting timeline owing to the rise in awareness about oncology among the people along with growing demand for advanced cancer therapies in the continent. Apart from this, the presence of key players in the countries of Europe will majorly contribute to the industry expansion in the continent in the years to come.
Key Offerings:
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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