Yahoo Finance Cancer biologics Global Market Report 2023
Major players in the cancer biologics market are AbbVie Inc., Hoffman-La Roche, GlaxoSmithKline, Eli Lilly and Company, Amgen Inc., Bristol-Myers Squibb Company, Johnson & Johnson, Merck & Co.Inc., Novartis and Pfizer.
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cancer biologics Global Market Report 2023" - https://www.reportlinker.com/p06241841/?utm_source=GNW
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%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The cancer biologics market is expected to reach $129.05 billion in 2026 at a CAGR of 10.5%.
The cancer biologics market consists of sales of cancer vaccines, cytokine therapy, and angiogenesis inhibitors.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Cancer biologics refer to a substance used in the prevention, detection, or treatment of cancer and other disorders that is created from a living creature or its byproducts.Immunoglobulins, interleukins, and vaccinations are examples of biologic agents.
A form of cancer treatment known as biological therapy employs the body’s immune system to eradicate cancer cells.
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.
In May 2020, Boehringer Ingelheim, a Germany-based research-driven pharmaceutical company, acquired Northern Biologics for an undisclosed amount.This acquisition would provide Boehringer Ingelheim two additional assets to add to its existing cancer immunology portfolio that complement Northern Biologics’ current offerings, supporting the company’s goal to target "cold" tumours with synergistic combination methods.
The acquisition includes Northern Biologics’ preclinical cancer antibody pipeline which is expanding immuno-oncology portfolio. Northern Biologics is a Canada-based clinical stage biotechnology company.
The countries covered in the cancer biologics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The cancer biologics market research report is one of a series of new reports that provides cancer biologics market statistics, including cancer biologics industry global market size, regional shares, competitors with a cancer biologics market share, detailed cancer biologics market segments, market trends and opportunities, and any further data you may need to thrive in the cancer biologics industry. This cancer biologics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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