Dublin, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The "Cancer biologics Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global cancer biologics market is expected to grow from $76.46 billion in 2021 to $86.64 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%.
North America was the largest region in the cancer biologics market in 2022. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the cancer biologics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cancer biologics are monoclonal antibodies, vaccines, cell and gene therapy, and others. Monoclonal antibodies are created by cloning a single white blood cell. Every subsequent antibody generated in this manner may be traced back to a single parent cell. It is used in non-small cell lung cancer, prostate cancer, breast cancer, acute myeloid leukemia, lymphoma, multiple myeloma, ovarian cancer, colorectal cancer, gastric cancers, and others and is distributed through various channels such as hospitals, clinics, and others.
The rising prevalence of chronic diseases is one of the major factors driving the cancer biologics market growth. Chronic disorders are diseases that persist over a long period and hinder the health of people with disabilities and cancer is one of the common chronic diseases.
The most common cancers are breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, and endometrial cancer, leukemia, pancreatic cancer, thyroid cancer, and liver cancer. According to World Health Organization (WHO), in 2020 chronic diseases accounted for 75% of deaths globally. Therefore, the rising prevalence of chronic diseases is expected to drive the growth of the cancer biologics market over the coming years.
The cancer biologics market is being restrained by the adverse effects associated with the use of cancer biologics. Biologic drugs are administered by injection or infusion as they are proteins that are quickly digested and inactivated if given by mouth so they can cause injection site reactions or infusion reactions.
Moreover, the adverse effects of the biologics vary from common side effects such as allergic reactions and diarrhea to serious adverse effects such as low blood pressure, hepatitis, and hypothyroidism. For instance, according to a study conducted by NCBI, biological agents are essential additions to chemotherapy for GI malignancies that leads to enhanced survival response rates but these additions also bring some unique adverse reactions to the patients.
Companies in the cancer biologics market are developing predictive biomarkers which help physicians to decide the treatments for their patients by utilizing physiological biomarkers for predicting performance. Predictive biomarkers study tumor growth in patients by analyzing the major etiological factors as the cancer etiology differs from patient to patient. Moreover, these biomarkers not only aid in the early detection of cancer but also help in deciding the cost-effective treatment regimens, especially for the biologics based on gene therapy.
According to the FDA approval process of new cancer treatments and biological products, the application for approval should include all relevant data available from clinical studies, including negative results as well as positive findings. Data can come from pharmaceutical company-sponsored clinical trials intended to test the safety and effectiveness of a new use of a product, or from several alternative sources.
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The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A selection of companies mentioned in this report includes
- AbbVie Inc.
- Hoffman-La Roche
- GlaxoSmithKline
- Eli Lilly and Company
- AmgenInc.
- Bristol-Myers Squibb Company
- Johnson & Johnson
- Merck & Co.Inc.
- Novartis
- Pfizer
- Celgene Corporation
- Roche Diagnostics
For more information about this report visit https://www.researchandmarkets.com/r/pm2pu0
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