Cancer Biological Therapy Market size to surpass $227Bn by 2032

Cancer Biological Therapy Market size is projected to exceed USD 227 billion by 2032, as per a new research report announced by Global Market Insights Inc.
 

A steady rise in the number of government-funded R&D initiatives pertaining to cancer treatment and diagnosis will positively influence the cancer biological therapy industry outlook. Cancer contributes to a massive disease burden across developed as well as developing nations, prompting hefty investments in the innovation of novel drugs.
 

Rising application of MABs in antibody-based cancer therapeutics to boost industry trends

Monoclonal antibodies play a key role in cancer treatment alongside radiation, surgery, and chemotherapy. They are employed in targeted therapies as they are capable of killing specific cancer cells. The widespread availability of antibody-based immunotherapy treatments and regulatory approvals are making way for large-scale production of MAB-based cancer biological therapies. The growing funding for the development of antibody-drug conjugates consisting of MAB-linked cancer-killing drugs will also drive the industry progression.
 

Browse key industry insights spread across 250 pages with 533 market data tables & 12 figures & charts from the report, “Cancer Biological Therapy Market Size By Product (Monoclonal Antibodies {Naked Monoclonal Antibodies, Conjugated Monoclonal Antibodies, Bispecific Monoclonal Antibodies}, Vaccines {Preventive Vaccines, Therapeutic Vaccines}, Cancer Growth Blockers {Tyrosine Kinase Inhibitors, Proteasome Inhibitors, mTOR Inhibitors}, Blood Cell Growth Factors {Lenograstim, Filgrastim}, Cytokine {Interferon, Interleukin}), By Route of Administration (Oral, Injectable), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/cancer-biological-therapy-market
 

Hefty investments in drug discovery to foster production of injectable cancer biological drugs

The injectables segment accounted for more than 39% share of the cancer biological therapy market in 2022. Rapidly surging adoption of antibody-based cancer therapies to showcase a positive market landscape. With growing efforts focusing on the reduction of cancer burden, several entities are scaling up R&D initiatives for the discovery of new treatments and drugs. Injectables are primarily used as they target specific cells and restrict the expansion of cancer cells and promote fighter cells.
 

Growing cancer burden to boost APAC cancer biological therapy industry

Asia Pacific cancer biological therapy market value is set to exhibit over 8% CAGR by 2032. The region is estimated to emerge as a major hub for industry expansion with the increasing prevalence of cancer. According to the Indian Council for Medical Research (ICMR) report, the cancer burden in India is likely to increase from 26.7 million in 2021 to nearly 29.7 million in 2025. This scenario will represent lucrative scope for new clinical trials in the region pertaining to cancer research, augmenting the market development in APAC.
 

Strategic initiatives to boost cancer biological therapy market trends

AbbVie Inc., Amgen Inc., Astellas Pharma Inc., Bayer AG, Bristol-Myers Squibb Company, Eisai Co., Ltd., Merck, AstraZeneca, GlaxoSmithKline plc, ELI Lilly and Company, Incyte, Otsuka, Pfizer, Sanofi, F. Hoffmann-La Roche, Novartis, Takeda Pharmaceuticals, Seattle Genetics, Spectrum Pharmaceuticals are some of the leading companies in the global cancer biological therapy industry.