Cancer biologics Market Segments, Drivers, Restraints, And Trends For 2024-2033

The Business Research Company’s Cancer biologics Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 7, 2024 /EINPresswire.com/ -- The cancer biologics market has experienced robust growth in recent years, expanding from $106.2 billion in 2023 to $117.03 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to the rising incidence of cancer, increasing awareness of cancer biologics, improved efficacy and safety of cancer biologics, approval of new cancer biologics, and growing acceptance of combination therapy.

Strong Future Growth Anticipated
The cancer biologics market is projected to continue its strong growth, reaching $168.75 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to expanding indications, combination therapies, real-world evidence, gene and cell therapies.

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Growth Driver Of The Cancer biologics Market
Rising cancer research investment is projected to fuel the growth of the cancer biologics market. Investment in cancer research refers to the provision of financial resources to support scientific efforts aimed at studying, preventing, diagnosing, and treating cancer. Increased funding for cancer research empowers pharmaceutical and biotechnology firms to pursue the discovery, development, and rigorous testing of novel cancer biologics, encompassing the identification of drug targets and the synthesis of potential candidates.

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Major Players And Market Trends
Key players in the cancer biologics market include AbbVie Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Eli Lilly and Company, Amgen Inc., Bristol-Myers Squibb Company.

Major companies operating in the cancer biologics market are focused on developing cancer biosimilars, such as ONTRUZAN, to gain a competitive advantage. ONTRUZAN is a biosimilar medication used to treat various forms of cancer, including breast and gastric cancer.

Segments:
1) By Type: Monoclonal Antibodies, Vaccines, Cell And Gene Therapy, Other Types
2) By Application: Non-small Cell Lung Cancer, Prostate Cancer, Breast Cancer, Acute Myeloid Leukemia, Lymphoma, Multiple Myeloma, Ovarian Cancer, Colorectal Cancer, Gastric Cancers, Other Applications
3) By Distribution Channel: Hospitals, Clinics, Other Distribution Channels

Geographical Insights: North America Leading The Market
North America was the largest region in the cancer biologics market in 2023. The Middle East is expected to be the fastest-growing region in the global cancer biologics market share during the forecast period. The regions covered in the cancer biologics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Cancer biologics Market Definition
Cancer biologics refer to a substance used in the prevention, detection, or treatment of cancer and other disorders that are created from a living creature or its byproducts. Immunoglobulins, interleukins, and vaccinations are examples of biologic agents. A form of cancer treatment known as biological therapy employs the body's immune system to eradicate cancer cells.

Cancer biologics Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Cancer biologics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cancer biologics market size, cancer biologics market drivers and trends, cancer biologics market major players, cancer biologics competitors' revenues, cancer biologics market positioning, and cancer biologics market growth across geographies. The cancer biologics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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