Cancer Biological Therapy Market Size

Cancer Biological Therapy Market Size

Cancer Biological Therapy Market size was worth more than USD 111.5 billion in 2022 and is expected to record over 7% CAGR from 2023-2032. Rising prevalence of cancer across the globe will accelerate industry expansion.

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The growing disease burden and incidences of cancer worldwide will have a significant impact on the cancer biological therapy industry outlook. According to the World Health Organization (WHO), cancer accounted for more than 10 million deaths in 2020. The National Institute of Cancer has further suggested that cancer-related mortality will reach 16.4 million per year by 2040 with 29.5 million new cases annually in the U.S.

Moreover, the fast-paced lifestyles and the higher consumption of highly processed foods, has stirred the substantial increase in alcohol intake resulting in a high prevalence of risk factors, such as obesity and type 2 diabetes. This scenario is therefore emphasizing the need for advanced biological therapies to limit or prevent the growth and spread of tumors.

Side effects of anti-cancer drugs may impede product demand

The rising concerns regarding the potential side effects of anti-cancer drugs and biological therapies could restrict industry progress. Some of the common adversities associated with cancer biological therapies include fever, nausea, inflammation, chronic fatigue, disorientation, and depression, among others. While the impact of these drugs varies from patient to patient, they frequently pose a severe threat to the overall health of a patient, necessitating various treatment methods to overcome added complications, result in high hospital expenditure. Nonetheless, rapid technological advancements in cancer therapies could help provide access to safer alternatives.