Cancer Biologics Market
The Cancer biologics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cancer Biologics Global Market Report 2024, The cancer biologics market size has grown rapidly in recent years. It will grow 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 rising incidence of cancer, increasing awareness of cancer biologics, improved efficacy and safety of cancer biologics, approval of new cancer biologics, growing acceptance of combination therapy.
The cancer biologics market size is expected to see rapidly grown in the next few years. It will grow to $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. Major trends in the forecast period include advances in biotechnology, personalized cancer biologics, biobetters, biosimilars, patient support services, companion diagnostics.
The rising prevalence of chronic diseases is one of the major factors driving the cancer biologics market’s growth. Chronic disorders are diseases that persist over a long period and hinder the health of people with disabilities, and cancer is one of the most common chronic diseases. The most common cancers are breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial cancer, leukemia, pancreatic cancer, thyroid cancer, and liver cancer. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based international resource for the scientific research community, the number of individuals aged 50 years and older having one or more chronic illnesses is projected to rise by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020 in the United States. Therefore, the rising prevalence of chronic diseases is expected to drive the cancer biologics market growth over the coming years.
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The cancer biologics market covered in this report is segmented –
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
Major companies operating in the cancer clinical decision tools market are exploring innovative products such as the BenchMark Ultra Plus tissue staining system to gain a competitive advantage. The BenchMark Ultra Plus system optimizes tissue staining for faster and more accurate pathology results. For instance, in June 2022, F. Hoffmann-La Roche AG, a Switzerland-based healthcare company, launched the BenchMark Ultra Plus tissue staining system, which boasts improved workflow efficiency, testing processes, and sustainability features. This innovative system empowers pathologists to deliver high-quality, time-sensitive results to medical professionals and patients. The BenchMark Ultra Plus system represents the next step in the BenchMark series’ evolution, automating previously manual slide-by-slide processes and revolutionizing cancer diagnostics.
The cancer biologics market report table of contents includes:
1. Executive Summary
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