The global cancer biologics market is anticipated to grow at a considerable CAGR of 5.3% during the forecast period. Cancer is the third most lethal disease in the world, after cardiovascular and infectious diseases. The treatment of cancer includes surgery, radiation, chemotherapy, vaccines, and drugs. The surgery is the first step of therapy which is used for the early stage of cancer. Cell and gene therapy seeks to modify or manipulate the gene or to alter the biological properties of living cells for therapeutic use. The management of cancer in the patients requires the use of different therapy such as hormonal therapy, immunotherapy, targeted therapy, and chemotherapy. The major drivers responsible for the growth of the market, are the surge in the geriatric population, early screening of different types of cancer, and rise in the number of R&D activities to develop cancer biologics have significantly contributed toward the growth of the market. For instance, in December 2020, Food and Drug Administration (FDA), has approved pralsetinib for adult and pediatric patients 12 years of age and older with advanced or metastatic RET-mutant medullary thyroid cancer, and those who require systematic therapy.
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Impact of COVID-19 Pandemic on Global Cancer biologics Market
During the COVID-19 pandemic, lung cancer patients are severely affected, as they are at a higher risk of COVID-19. The lockdown has affected the supply chain and disrupted the supply of raw material and finished products, from the manufacturing site to the end-user. Delay in the supply chain, has weakened several immunotherapy cancer drugs and diagnosis machines. Shortage of essential raw material during the COVID-19 pandemic could mean slower growth of the cancer biologics market. COVID-19 pandemic has directly affected the supply of biologics drug and cancer diagnosis machines, not only it is just difficult to manage chemotherapy and other treatment outside the hospital premises, but the COVID-19 pandemic has also reduced the patient’s willingness, and capacity to access not just the treatments, but the clinical trials of new medicine.
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By Type (Monoclonal Antibodies, Vaccines, and Cell and Gene Therapy)
By Distribution Channel (Hospitals, and Clinics)
Market Players Outlook
The major companies serving the global cancer biologics market are, Abbvie Inc., Amgen USA Inc., Bristol Myers Squibb Co., F.Hoffmann-La Roche Ltd., Glaxo Smith Kelvin., Atra Zeneca, Cue Biopharma., Eli Lilly and Co., Genmab A/S, Boehringer Ingelheim Pharmaceutical Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2021, Boehringer Ingelheim has acquired Abexxa Biologics, to adopt a new approach in the immunology and oncology area, to create advanced precision medicines for cancer. Furthermore, the company intends to launch new cancer immunotherapies for cancer patients, using Abexxa’s technology antibody-based drugs. ?
The Report Covers
Market value data analysis of 2022 and forecast to 2028.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global cancer biologics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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