by The global cancer biologics market size was estimated at USD 102.01 billion in 2023 and is predicted to attain around USD 214.59 billion by 2033, growing at a CAGR of 7.12% from 2024 to 2033.
Key Points
- North America dominated the cancer biologics market in 2023
- Asia Pacific is expected to grow steadily in the market during the forecast period.
- The monoclonal antibodies segment dominated the market by drug class in 2023.
- The cancer growth inhibitors segment is expected to grow to the highest CAGR in the market by application during the forecast period.
- The blood cancer segment dominated the market by application in 2023.
- The lung cancer segment is expected to grow to the highest CAGR in the market by application during the forecast period.
- In 2023, the hospital segment dominated the market by end-use.
- The cancer center segment is expected to grow to the highest CAGR in the market by end-use during the forecast period.
The cancer biologics market has witnessed substantial growth in recent years, driven by advancements in biotechnology and increasing demand for targeted therapies. Biologics are therapeutic agents derived from living organisms or their components, offering precise targeting of cancer cells while minimizing damage to healthy tissues. This segment of the pharmaceutical industry has gained prominence due to its efficacy, reduced side effects, and potential for personalized treatment approaches. With a growing understanding of cancer biology and the development of innovative biologics, the market is poised for significant expansion in the coming years.
Get a Sample: https://www.precedenceresearch.com/sample/4005
Growth Factors:
Several factors contribute to the growth of the cancer biologics market. The increasing prevalence of cancer worldwide is a primary driver, necessitating the development of novel and effective treatment options. Moreover, advancements in biotechnology, including recombinant DNA technology and monoclonal antibody production, have enabled the creation of highly specific biologic therapies targeting various types of cancer. Additionally, favorable regulatory policies and initiatives supporting biologics research and development have fostered innovation and investment in this sector.
Region Insights:
The cancer biologics market exhibits regional variations influenced by factors such as healthcare infrastructure, regulatory environment, and prevalence of specific cancer types. North America and Europe lead the market, driven by robust research and development activities, extensive clinical trials, and high adoption rates of biologic therapies. In Asia-Pacific, rapid economic growth, improving healthcare access, and rising cancer incidence contribute to market expansion. Emerging economies in Latin America and Africa present untapped potential, albeit with challenges related to healthcare infrastructure and affordability.
Cancer Biologics Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 7.12% |
| Global Market Size in 2023 | USD 102.01 Billion |
| Global Market Size by 2033 | USD 214.59 Billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Drug Class, By Applications, and By End-use |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Cancer Biologics Market Dynamics
Drivers:
Several drivers fuel the growth of the cancer biologics market. Increasing investments in oncology research, both from public and private sectors, drive innovation and the development of new biologic therapies. Moreover, rising patient awareness about the benefits of biologics, including targeted treatment and reduced side effects, encourages adoption. Additionally, collaborations between pharmaceutical companies, research institutions, and healthcare providers facilitate the development and commercialization of cancer biologics, accelerating market growth.
Opportunities:
The cancer biologics market offers significant opportunities for growth and innovation. Personalized medicine approaches, enabled by advancements in genomics and biomarker identification, present avenues for tailoring biologic therapies to individual patients, enhancing efficacy and reducing adverse reactions. Furthermore, expanding applications of biologics beyond traditional cancer types, such as immunotherapy for solid tumors and combination therapies, open new possibilities for addressing unmet medical needs and improving patient outcomes.
Challenges:
Despite its promising outlook, the cancer biologics market faces several challenges. High development costs and lengthy regulatory approval processes pose barriers to entry for smaller biotechnology companies, limiting innovation and competition. Manufacturing complexities associated with biologic production, including the need for specialized facilities and stringent quality control, can impact scalability and cost-effectiveness. Moreover, reimbursement challenges and pricing pressures in healthcare systems worldwide present hurdles for market access and adoption of biologic therapies.
Read Also: Wheat Protein Market Size to Rake USD 10.69 Billion by 2033
Recent Developments
- Dr. Reddy’s Laboratories declared in March 2024 that Versavo® (bevacizumab) would be available in the UK. Avastin’s biosimilar Versavo is effective against multiple cancer types, such as advanced non-squamous non-small cell lung cancer, metastatic colorectal cancer, ovarian cancer, recurrent glioblastoma, metastatic renal cell carcinoma, advanced cervical cancer, and metastatic breast cancer.
- BioNTech and Duality Biologics declared in January 2024 that a Phase III trial of a medication for breast cancer has begun. BioNTech and Duality are conducting a Phase III trial to evaluate their antibody-drug conjugate in patients whose tumors have low levels of progesterone or estrogen and respond to these hormones. This corresponds to between 40% and 45% of patients with metastatic breast cancer who are on Herceptin for HER2.
- Angle, a liquid biopsy firm that provides diagnostic solutions for circulating tumor cells (CTCs) in drug development, research, and clinical oncology, announced in November 2023 that the Portrait PD-L1 test would be available for CTCs to assess PD-L1 protein expression.
- In April 2023, TORL BioTherapeutics LLC, a biopharmaceutical company focused on developing new biologics for cancer treatment, announced its public launch and the closing of a $158 million Series B financing.
Cancer Biologics Market Companies
- Abbott
- Angel
- Amgen, Inc
- AstraZeneca
- BioNTech
- Bristol-Mayer Squibb Company
- Dr. Reddy’s Laboratories
- Duality Biologics
- Eli Lilly and Company
- F.Hoffmann-La Roche Ltd.
- Gilead Sciences, Inc.
- Glenmark Pharmaceuticals Ltd
- GSK plc.
- Ichnos Sciences Inc
- Johnson & Johnson Services, Inc
- Pfizer, Inc
- TFC Therapeutics
Segments Covered in the Report
By Drug Class
- Monoclonal Antibodies
- Naked Monoclonal Antibodies
- Conjugated Monoclonal Antibodies
- Bispecific Monoclonal Antibodies
- Cancer Growth Inhibitors
- Tyrosine Kinase Inhibitor
- Mtor Inhibitors
- Proteasome Inhibitors
- Others
- Vaccines
- Preventive Vaccines
- Therapeutic Vaccines
- Recombinants Proteins
- CAR-T Cells
- Angiogenesis Inhibitors
- Interleukins (IL)
- Interferons (IFN)
- Gene Therapy
- Others
By Applications
- Blood Cancer
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Gastric Cancer
- Ovarian Cancer
- Skin Cancer
- Liver Cancer
- Others
By End use
- Hospitals
- Cancer Center
- Academics & Research Institutes
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Contact Us:
Mr. Alex
Sales Manager
Call: +1 9197 992 333
Email: sales@precedenceresearch.com
Web: https://www.precedenceresearch.com
Blog: https://www.expresswebwire.com/
