Cancer Biological Therapy Market Size By Product (Monoclonal Antibodies [Naked Monoclonal Antibodies, Conjugated Monoclonal Antibodies, Bi-Specific Monoclonal Antibodies], Vaccines [Preventive, Therapeutic], Cancer Growth Blockers [Tyrosine Kinase Inhibitors, Proteasome Inhibitors, mTOR Inhibitors], Blood Cell Growth Factors [Lenograstim, Filgrastim], Cytokines [Interferons, Interleukins]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
Published Date: July 2016 | 90 Pages | Report ID: GMI676 Report Format: PDF
Cancer Biological Therapy Market size was USD 61.3 billion in 2015, with revenue forecast to cross USD 100 billion, at upwards of 6% growth from 2016 to 2023.
U.S. Cancer Biological Therapy Market size, by product, 2012 - 2023 (USD Million)
Rise in incidence rate of various cancers and growing adoption of biological therapy will drive the growth of the global cancer biological therapy market. According to WHO, the number of new cancer cases is projected to rise 70% in the coming two decades, mainly due to increased use of tobacco and alcohol consumption. As per NCI, an estimated 16,85,210 new cases will be diagnosed in 2016, and about 5,95,690 individuals will succumb to the disease in the U.S.
Growing global geriatric population is predicted to boost biological cancer therapy market size owing to link between new cases and old age. Elderly population is more prone to the disease, and as per the ACS, 86% of cases in the U.S. were recorded in individuals aged 50 and above. This is due to accumulation of mutations in aged individuals body over time coupled with a reduction in the DNA mismatch repair process in hematopoietic stem cells (HSC).
The high treatment cost of oncology therapy is primarily due to high cost of drug development. Millions of dollars are spent in identifying or designing a drug, obtaining preclinical data and clinical trials. It is estimated that each drug costs about USD 1.2 to USD 1.3 billion. Monopoly is another factor contributing to high costs. There are very few companies engaged in the manufacture of drugs resulting in reduced competition and higher prices, which restrains the global cancer biologic therapy market.
Cancer Biological Therapy Market, By Product
Monoclonal antibodies market size was over USD 21 billion in 2015. Antibody therapy is the most successful and important approach for treatment of hematological malignance and solid tumors. Bispecific monoclonal antibodies are anticipated to grow at 6.5% CAGR from 2016 to 2023.
Cancer vaccines market is anticipated to grow at 17.2% CAGR over the forecast timeframe. Preventive vaccines for HBV and HPV stimulates the production of antibodies that binds to microbes thus blocking their ability to cause infection. Cancer growth blockers market was over USD 18 billion in 2015, and is expected to growth at 5.8% CAGR from 2016-2023. Tyrosine kinase inhibitors dominated revenue in 2015 with the trend forecast to resonate over the coming years.
Blood cell growth factors look set to gain at 6.2% CAGR, driven by blood and bone marrow cell stimulation applications.
Cancer Biological Therapy Market, By Region
Increased public funding for R&D and other government initiatives is expected to drive growth in North America over the forecast period. Germany cancer biological therapy market size was over USD 4.3 billion in 2015. It is expected to continue revenue share dominance due to increased prevalence and favorable public reimbursement and insurance policies.
Japan cancer biologic therapy market share accounted for over 40% of the Asia Pacific revenue in 2015, mainly due to significant geriatric population base. China’s strong IP protection and reimbursement policies motivate biologic innovators to invest in R&D and accelerate the development of innovative biologic molecules. Increased government focus on manufacturing capabilities by providing funds and encouraging academic- industry collaboration will further drive growth.
Brazil is anticipated to witness 7.4% growth owing to increase in the incidence of various cancers.
Competitive Market Share
Novartis International Ag, Amgen Inc., Merck & Co., Inc., Bristol-Myers Squibb, GlaxoSmithKline Plc, F. Hoffmann-La Roche AG, Eli Lilly, Seattle Genetics, Inc., Spectrum Pharmaceuticals, Inc., Celgene Corporation are some notable companies vying for global cancer biological therapy market share.
Companies are focusing on innovative products with minimum adverse effects, as well as targeting emerging applications to leverage growth opportunities. They are concentrating their efforts on R&D in order to invent novel drugs.
Cancer Biological Therapy Industry Background
Technological innovation will help to understand the individual immune system at the molecular level. The immunological therapy aims to provides better treatment based on person’s immune system to fight against particular cancer. Increased adoption towards more personalized medicines is an emerging treatment. Global expenditure on oncology medicines is gradually increasing and there is continued demand for innovative treatment methods. New therapeutic classes of drugs will change the treatment landscape in the forecast years. Biologics such as immuno-oncological and vaccines hold out the promise of lower toxicity and improved survivals.
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