The global cancer therapeutics and biotherapeutics market size reached US$ 183.43 billion in 2023 and is projected to surpass US$ 379.07 billion by 2032 with a CAGR of 8.40% from 2023 to 2032.
The government and big market participants are heavily spending in research and development. This factor is assisting in the creation of novel cancer treatments and therapies. Furthermore, market participants are collaborating on the development of cancer therapies and biotherapeutics. Over the forecast period, the introduction of new treatments and therapies is paving the way for the global cancer therapeutics and biotherapeutics market to flourish.
Get the Sample Pages of Report@ https://www.precedenceresearch.com/sample/1657
Furthermore, the global market for cancer therapies and biotherapeutics is expanding and developing due to the growing elderly population. The elderly is more vulnerable to such illnesses and require special attention and treatment. As a result, cancer therapies and biotherapeutics assist them in preventing such diseases.
Report Highlights
- On the basis of application, lung cancer segment holds the largest market share in the global cancer therapeutics and biotherapeutics market. The lung cancer is considered as highly risky cancer type all over the world. Thus, this is driving the growth of the segment.
- On the basis of top selling drugs, Revlimid segment holds the largest market share in the global cancer therapeutics and biotherapeutics market. The Revlimid is a drug that is used to treat a variety of malignancies. This medication extends the life of cancer patients.
Regional Snapshot
North America is the largest segment for cancer therapeutics and biotherapeutics market in terms of region. In North America, the U.S. dominated the market for cancer treatments and biotherapeutics. The cancer therapeutics and biotherapeutics market is growing due to the large number of market players. The rising prevalence of malignancies such as breast cancer, prostate cancer, and lung cancer is another factor driving the growth of the cancer therapies and biotherapeutics market in the North American region.
Asia-Pacific region is the fastest growing region in the cancer therapeutics and biotherapeutics market.In the Asia-Pacific area, China and India are the market leaders in cancer therapies and biotherapeutics. The Asia-Pacific cancer therapies and biotherapeutics market is expanding due to rising cancer awareness in countries like India, China, South Korea, and Japan. These countries’ governments are heavily spending in research and development.
Report Scope of the Cancer Therapeutics and Biotherapeutics Market
| Report Coverage | Details |
| Market Size by 2032 | USD 379.07 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 8.40% |
| Largest Market | North America |
| Fastest Growing Makret | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Application, Top Selling Drugs, End User, Product, Geography |
Cancer Therapeutics and Biotherapeutics Market Dynamics
Drivers
Growing prevalence of cancer
The cancer is considered as the biggest cause of death globally, with approximately 10 million fatalities expected in 2020, for almost one in every six deaths. The breast cancer, prostate cancer, and lung cancer are common types of cancer. To curb these statistics of death due to cancer, the cancer therapeutics and biotherapeutics are adopted on a large scale. Thus, growing prevalence of cancer is driving the growth of the cancer therapeutics and biotherapeutics market.
Restraints
Risks associated with anti-cancer drugs
The cancer therapeutics and biotherapeutics sometimes can cause complications for the cancer patients. The cancer drugs and medications are not suitable for everyone. Sometimes these can cause adverse effects on the patient body. To avoid such complications, doctors and healthcare practitioners are avoiding the usage of the cancer therapeutics and biotherapeutics. As a result, risks associated with anti-cancer drugs are restricting the growth of the global cancer therapeutics and biotherapeutics market over the forecast period. Moreover, the expansion of the cancer therapeutics and biotherapeutics market is expected in near future due to launch of new products in the market.
Opportunities
Growing geriatric population
The population of old people is growing at a rapid pace. The old people are more vulnerable to the cancer disorders. The old women mostly face problems of breast cancer. To treat such diseases, the healthcare practitioners and doctors are using cancer therapeutics and biotherapeutics on a large scale. The cancer therapeutics and biotherapeutics help geriatric population to boost their immune system. As a result, growing geriatric population is creating lucrative opportunities for the growth of the cancer therapeutics and biotherapeutics market.
Challenges
Lack of resources for the development of cancer therapeutics and biotherapeutics
The developing and underdeveloped countries does not have enough resources for the development of cancer therapeutics and biotherapeutics. Even healthcare sector is not so developed which can help in the growth of the cancer therapeutics and biotherapeutics market. This is having adverse effects on the growth of the market. As a result, lack of resources for the development of cancer therapeutics and biotherapeutics is a major challenge for the cancer therapeutics and biotherapeutics market growth over the forecast period.
Read Also: Aesthetic Medicine Market Size to Rake USD 191.70 Bn by 2032
Recent Developments
- Atara Biotherapeutics and Bayer declared agreement in December 2020 for mesothelin targeted CAR T-cell therapy for the treatment of various cancers including global license agreement and production. This approach aims to improve the company’s market position and oncology product pipeline.
- Roche offered atezolizumab in India in April 2020. The drug atezolizumab is used to treat triple negative breast cancer that has spread widely. This strategy increased the company’s product portfolio and led the additional cancer biology therapy clients.
Key Developments
- Janssen’s Zytiga was licensed by Health Canada in February 2018 for the diagnosis and treatment of patients with newly diagnosed high risk prostate cancer who had received up to 3 months of past ADT.
- In April 2018, Swissmedic approved Roche’s Alecensa as a first line treatment of patients with advanced or metastatic quasi cell lung cancer who are ALK positive.
- The FDA authorized Roche’s skin cancer medicine Zelboraf for patients with Erdheim-Chester Diseases, a rare kind of blood cancer in November 2017.
Cancer Therapeutics and Biotherapeutics Market Companies
- Amgen Inc.
- Bristol-Myers Squibb
- Celgene Corporation
- ELI Lilly and Company
- Hoffmann-La Roche AG
- EnGeneIC Ltd
- Merck & Co Inc.
- Novartis
- Pfizer Inc.
- Johnson & Johnson
Segments Covered in the Report
By Application
- Blood Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Breast Cancer
- Cervical Cancer
- Head and Neck Cancer
- Giloblastoma
- Malignant Meningioma
- Mesothelioma
- Melanoma
- Others
By Top Selling Drugs
- Revlimid
- Avastin
- Herceptin
- Rituxan
- Opdivo
- Gleevec
- Velcade
- Imbruvica
- Ibrance
- Zytiga
- Alimta
- Xtandi
- Tarceva
- Perjeta
- Termodar
- Others
By Product Type
- Chemotherapy
- Radiation Therapy
- Hormone Therapy
- Biotherapy
- Others
By End User
- Consumption (Sales)
- Household
- Hospital
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & 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/