Cancer Biological Therapy Market Size, Share | Forecast 2031

Report Description

Cancer Biological Therapy Market Outlook 2031:

The global cancer biological therapy market  size was valued at USD 111.50 Billion in 2022 and is projected to reach USD 204.99 Billion by 2031, expanding at a CAGR of 7% during the forecast period 2023 - 2031. The growth of the market is attributed to the growing prevalence of several cancers across the globe.

Biological therapy involves a range of treatment process that use living organism substances obtained from either living organisms or laboratory variations of the substances to cure a particular disease. So, cancer biological therapy relies on the treatment process of using living organism components to fight cancer. The therapy generally consists of several treatment products such as interleukins, interferons, monoclonal antibodies, vaccines, and others, which help in the implementation of effective cancer treatment.

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In other words, it directly or indirectly utilizes the immune system of a body in order to fight cancer or use of bacteria to regulate antibodies for action against cancer cells. The treatment is considered to be effective without compromising the healthy cells. For instance, the monoclonal antibodies perform its action by either reducing the cancer growth or increasing cell death.

The emergence of COVID-19 pandemic has temporarily paused cancer treatment across the globe. Additionally, cancer patients are considered to be at high risk of the novel coronavirus due to weak immune system. The emergency lockdown imposed in various countries to control the virus spread has led to supply chain disruptions of immunotherapy drugs and has adversely affected the market growth.

Cancer Biological Therapy Market Drivers, Restraints, Trends, and Opportunities

• Increasing investment in research and development and emerging markets for biological therapies are projected to drive the cancer biological therapy market growth during the forecast period.
• Increasing number of cancer cases and rising number of the aging population across the globe are projected to drive the cancer biological therapy market growth.
• Increasing demand for biological and targeted drug therapy along with continuous patent expiry of cancer drugs are anticipated to positively impact the market growth during the forecast period.
• High expenditure on drug development, negative impacts of cancer drug therapy, and the risk of treatment failure are key challenges that can hinder the market growth.  
• Complicated reimbursement policies and stringent government guidelines for approval of devices or drugs are projected to hamper the cancer biological therapy market growth in the coming years.
• Increasing use of nanotechnology and other advanced technology in the development of treatment devices and equipment are projected to create large opportunities for the market growth during the forecast period.

Scope of Cancer Biological Therapy Market Report

The report on the global cancer biological therapy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Cancer Biological Therapy Market Segment Insights

Vaccines segment is projected to constitute a large market share

On the basis of products, the cancer biological therapy market share is divided into monoclonal antibodies, vaccines, cancer growth blockers, blood cell growth factors, and Cytokines. The monoclonal antibodies segment is further segmented into naked monoclonal antibodies, conjugated monoclonal antibodies, and bispecific monoclonal antibodies.

The vaccines segment is further classified as preventive vaccines and therapeutic vaccines while the cancer growth blockers consists of tyrosine kinase inhibitors, proteasome inhibitors, and mTOR inhibitors. The blood cell growth factors segment is sub-segregated into lenograstim and filgrastim while the cytokines segment is bifurcated as interferons and interleukins.

The vaccines segment is projected to constitute a large market share during the forecast period owing to the growing prevalence of cancer across the globe along with rising awareness about preventive measures for cancer. Additionally, increasing demand for preventive vaccines such as human papilloma vaccines (HPV) and hepatitis B vaccines (HBV) is expected to further spur the segment growth.

Furthermore, utilizing therapeutic cancer vaccines to reduce the growth of relapsed tumors is projected to propel the segment growth during the forecast period. Meanwhile, the monoclonal antibodies segment is expected to expand at a high CAGR during the forecast period due to the wide demand for the products since these monoclonal antibodies are able to target specific proteins on the cell surface. Additionally, growing inclination of patients towards advanced cancer biological therapy to avoid risks associated with anti-cancer drug therapy is projected to further drive the segment growth.

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Hospitals pharmacies segment is anticipated to account for a considerable market share

Based on distribution channels, the cancer biological therapy market share is segregated into hospitals pharmacies, retail pharmacies, and mail order pharmacies. The hospitals pharmacies segment is anticipated to account for a considerable market share during the forecast period owing to the patients’ preference to undergo treatment at hospitals.

Wide availability of an extensive range of medical devices for surgeries and treatments and the presence of high-specialized doctors for the treatment are the key factors boosting the segment growth. The significant growth in the number of cancer research centers and laboratories is further propelling the segment growth during the forecast period.

Additionally, substantial funding by the government and private firms across the globe is further driving the segment growth.

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North America is expected to exhibit a high CAGR

In terms of regions, the cancer biological therapy market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to account for a significant market share during the forecast period owing to the rising investments in research and development and the establishment of various healthcare initiatives in the region.

Additionally, increasing disposable income of people along with the presence of a large number of cancer biological drug and vaccine manufacturers act as key factors boosting the market growth in the region. Moreover, wide availability of affordable cancer treatment facility and rising number of health insurance coverage for serious diseases are further propelling the regional market growth.

The market of Asia Pacific is expected to expand at a healthy CAGR during the forecast period owing to the growing occurrence of cancer, enhanced healthcare facilities, and a large patient pool in the region. In Asia Pacific, Japan is a major market, contributing to a large share in the cancer treatment market.

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