As per the current market research conducted by the CMI arch Team, the global Cancer Biologics Market size is expected to record a CAGR of 6.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 125.5 Billion. By 2033, the valuation is anticipated to reach USD 215.8 Billion.
Cancer Biologics Market: Growth Factors and Dynamics
- Increasing Prevalence of Cancer: The rising incidence of cancer globally is a significant driver of the Cancer Biologics Market. As the burden of cancer grows, there is a growing demand for innovative and effective treatment options, such as biologic therapies, to improve patient outcomes.
- Advancements in Biotechnology: Ongoing advancements in biotechnology have led to the development of novel biological therapies for cancer treatment. These advancements include the discovery of new therapeutic targets, the development of monoclonal antibodies, and the engineering of cell-based immunotherapies, driving innovation and market growth.
- Expanding Applications of Biologics: Biologic therapies are increasingly being explored for the treatment of various cancer types, including breast cancer, lung cancer, colorectal cancer, and leukemia. Additionally, biologics show promise in combination therapies and targeted treatments, expanding their market potential and driving adoption across diverse oncology indications.
- Personalized Medicine Approaches: There is a growing emphasis on personalized medicine approaches in oncology, wherein biologic therapies are tailored to individual patient characteristics, genetic profiles, and disease subtypes. This personalized approach improves treatment efficacy, reduces adverse effects, and enhances patient satisfaction, driving the adoption of biological therapies in cancer care.
- Strategic Collaborations and Partnerships: Pharmaceutical companies are forming strategic collaborations and partnerships to accelerate the development and commercialization of biologic therapies for cancer. These collaborations involve licensing agreements, research collaborations, and co-development partnerships, leveraging complementary expertise and resources to drive innovation and market growth.
- Regulatory Approvals and Market Expansion: Regulatory approvals play a crucial role in driving market growth for Cancer Biologics. As new biologic therapies receive regulatory clearance for various cancer indications, market expansion opportunities arise, enabling pharmaceutical companies to penetrate new geographical regions, target patient populations, and capture market share, thereby driving the overall market growth.
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Cancer Biologics Market: Partnership and Acquisitions
- In 2023, AbbVie achieved a significant milestone with the FDA approval of EPKINLYTM (epcoritamab-bysp), the first T-cell engaging bispecific antibody sanctioned for treating adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and high-grade B-cell lymphoma (HGBL) who have received two or more lines of systemic therapies.
- In 2023, First Light Acquisition Group and Calidi Biotherapeutics, Inc. have announced their merger to form a clinical-stage biotechnology company. Their focus is on developing oncolytic virotherapy using a stem cell-based cancer treatment delivery platform.
Cancer Biologics Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the Cancer Biologics Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in Treatment Administration: The COVID-19 pandemic led to disruptions in cancer care delivery, including delays or cancellations of treatment administrations such as biologic therapies. Patients may have faced challenges accessing healthcare facilities, leading to interruptions in treatment schedules and potential impacts on treatment outcomes.
- Supply Chain Disruptions: COVID-19-related disruptions in global supply chains affected the availability and distribution of biological therapies for cancer treatment. Shortages of raw materials, logistical challenges, and manufacturing delays may have impacted the supply of biologics, leading to fluctuations in product availability and potential disruptions in patient care.
- Resumption of Treatment Services: Healthcare facilities can implement measures to resume cancer treatment services, including biologic therapies while adhering to safety protocols to minimize the risk of COVID-19 transmission. Strategies may include telemedicine consultations, staggered appointment scheduling, and enhanced infection control measures.
- Digital Health Solutions: The adoption of digital health solutions such as telemedicine platforms and remote monitoring tools can facilitate continuity of care for cancer patients receiving biologic therapies. Remote consultations, home delivery of medications, and virtual support programs can help mitigate the impact of disruptions in healthcare services.
- Collaboration and Communication: Collaboration among healthcare providers, pharmaceutical companies, and regulatory agencies is essential for navigating challenges and ensuring the uninterrupted supply of biological therapies. Open communication channels and proactive collaboration can facilitate the exchange of information, address supply chain issues, and streamline regulatory processes.
List of the prominent players in the Cancer Biologics Market:
- Hoffmann-La Roche Ltd.
- Amgen Inc.
- Bristol Myers Squibb Company
- Merck & Co. Inc.
- Novartis International AG
- Pfizer Inc.
- AstraZeneca PLC
- Eli Lilly and Company
- Johnson & Johnson
- AbbVie Inc.
- Biogen Inc.
- Gilead Sciences Inc.
- Sanofi S.A.
- Celgene Corporation
- Takeda Pharmaceutical Company Limited
- Others
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