Cancer Biologics Market Set to Surpass USD 185.0 Bn by 2031 Driven by Increasing Cancer Prevalence and Biotechnology Innovations, Reveals TMR Study

Wilmington, Delaware, United States, June 13, 2023 (GLOBE NEWSWIRE) — The global cancer biologics market was valued at US$ 94.5 Bn in 2022. It is projected to expand at a CAGR of 7.7% from 2023 to 2031. Significant demand for monoclonal antibodies and fusion proteins for the treatment of cancer is anticipated to boost market size in the next few years.

Rapid development of immunotherapy in oncology is expected to spur cancer biologics market growth. Rise in demand for novel drugs to improve the outcomes of treatment in chemotherapy is broadening market outlook.

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Surge in prevalence of cancer due to high incidence of relapse in certain cancers, especially blood cancer, is anticipated to strengthen demand for cancer biologics. Need to improve efficiency of the currently anticancer agents is likely to propel R&D activities in cancer immunotherapy and advanced drug delivery systems. Recent innovations in immunotherapy are expected to accelerate market development. Extensive research in improving stability and immunogenicity of cancer vaccines is likely to create lucrative opportunities for companies in the market.

Key Findings of Study

• Considerable Demand for Monoclonal Antibodies (mAb): Based on drug class, the monoclonal antibody (MAb) segment accounted for the leading market share in 2022. Considerable research in selection and production of mAb is fueling the segment. Rise in adoption monoclonal antibody can be ascribed to high specificity to target specific molecules on the surface of cancer cells. Rapid utilization of targeted delivery system using mAb is anticipated to augment the segment.
• Rise in Adoption of Biologics-based Targeted Therapies for Blood Cancer: Surge in demand for personalized treatment of blood cancer presents significant revenue opportunities for companies in the market. An instance is the demand for personalized treatment of lymphomas. Based on application, the blood cancer segment accounted for a major market share in 2022. Increase in adoption of novel approaches to enhance safety and efficacy of therapeutics for blood cancers is expected to boost the market.

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Key Growth Drivers: Cancer Biologics Market

• Rapid increase in incidence of cancer worldwide is a key driver of the demand for effective therapies to treat the disease. Cancer was the leading cause of death globally in 2020. Surge in burden of lung, liver, breast, skin, and prostate cancer, especially due to rapidly aging population of the world, is a key trend that is expected to drive the cancer biologics market.
• Significant advancements in biotechnology and considerable research in drug delivery systems are key drivers of the cancer biologics industry. Rise in R&D activities related to molecular pathways and therapeutic targets in oncology is anticipated to drive market evolution. An instance in increase in number of actionable molecular targets for lung cancer in the last few years. Ongoing research to expand understanding of MAP kinase pathways for colorectal cancer is another instance.

Regional Growth Dynamics

North America accounted for a major share of the global cancer biologics market in 2022. Presence of several biotech companies engaged in development of targeted therapies in oncology and favorable regulatory landscape in the U.S. are expected to propel the market in the region. Companies in the U.S. are making significant investments in clinical trials on exploring novel cancer therapeutic targets for the development of biologic drugs. Several cancer medicines have been approved by the U.S. FDA, which are based on targeted drug delivery.

Asia Pacific is a lucrative market for cancer biologics. Rise in awareness about the prevalence of cancer and surge in investment in cancer clinics and hospitals are expected to propel the market in Asia Pacific. Rise in R&D in immunotherapy therapy in the region is expected to pave the way to significant business opportunities for market players.

Competition Landscape

The business landscape is fragmented, with a large number of players holding leading stake in the market. Leading companies are focusing on product portfolio expansion and mergers and acquisitions to strengthen their market positions in the next few years.

Key players operating in the cancer biologics industry are

• F-Hoffmann-LA Roche Ltd.
• Amgen Inc.
• Pfizer Inc.
• GSK plc.
• Bristol-Myers Squibb Company
• Abbott
• AstraZeneca
• Eli Lilly and Company
• Gilead Sciences, Inc.

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Cancer Biologics Market Segmentation

The global cancer biologics market is segmented based on

Drug Class

• Monoclonal Antibodies (mAb)
  • Naked mAb
  • Conjugated mAb
  • Bispecific mAb
• Recombinant Proteins
• Cancer Growth Inhibitors
  • Tyrosine Kinase Inhibitors
  • mTOR Inhibitors
  • Others (proteasome inhibitors)
• Vaccines
  • Preventive Vaccines
  • Therapeutic Vaccines
• CAR-T Cells
• Angiogenesis Inhibitors
• Interleukins (IL)
• Others (Interferons (IFN), Gene Therapy, etc.)

Application

• Blood Cancer
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Prostate Cancer
• Gastric Cancer
• Ovarian Cancer
• Others (skin, level cancer, etc.)

End-user

• Hospitals
• Cancer Centers
• Academic & Research Institutes

Region

• Asia Pacific
• Latin America
• Middle East & Africa
• Rest of the World

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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