Major players in the cancer biologics market are AbbVie Inc. , Hoffman-La Roche, GlaxoSmithKline, Eli Lilly and Company, and Amgen Inc. The global cancer biologics market is expected to grow from $66.
New York, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cancer biologics Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151597/?utm_source=GNW
12 billion in 2020 to $70.69 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $93.34 billion in 2025 at a CAGR of 7.2%.
The cancer biologics market consists of sales of cancer biologics.Cancer biologic drugs are the products that are produced from living organisms or contain components of a living organisms.
Biologic drugs include a wide variety of products which are derived from human, animal or microorganisms by using biotechnology.
The cancer biologics market covered in this report is segmented by type into monoclonal antibodies, vaccines, cell and gene therapy, others. It is also segmented by application into hospitals, clinics, others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The cancer biologics market is being restrained by the adverse effects associated with the use of cancer biologics.Biologic drugs are administered by injection or infusion as they are proteins which are quickly digested and inactivated if given by mouth so they can cause injection site reactions or infusion reactions.
Moreover, the adverse effects of the biologics vary from common side effects such as allergic reactions and diarrhoea to serious adverse effects such as low blood pressure, hepatitis and hypothyroidism. For instance, according to a study conducted by NCBI, biological agents are essential additions to chemotherapy for GI malignancies that leads to enhanced survival response rates but these additions also bring some unique adverse reactions to the patients.
Companies in the cancer biologics market are developing predictive biomarkers which help the physicians to decide the treatments for their patients by utilizing physiological biomarkers for predicting the performance.Predictive biomarkers study tumor growth in patients by analyzing the major etiological factors as the cancer etiology differs from patient to patient.
Moreover, these biomarkers not only aid in the early detection of cancer but also help in deciding the cost-effective treatment regimens, especially for the biologics based on gene therapy.
In May 2019, Evotec SE, drug discovery and development solutions provider acquired Just Biotherapeutics, Inc. for $90 million. The acquisition will help Evotec’s business to grow into offering the biologics into the therapeutic areas such as oncology. Just Biotherapeutics, a US-based unique technology company that integrates highly synergistic scientific expertise and ML driven technologies for development and manufacturing of biologics at highest standards.
Rising prevalence of chronic diseases is one of the major factors driving the cancer biologics market growth.Chronic disorders are the diseases which persists over a long period of time and hinder the health of people with disabilities and cancer is one of the 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. According to World Health Organization (WHO), by 2020 chronic diseases would account for 75% of deaths globally.
According to FDA approval process of new cancer treatment and biological products, the application for the approval should include all relevant data available from clinical studies, including negative results as well as positive findings. Data can come from pharmaceutical company sponsored clinical trials intended to test the safety and effectiveness of a new use of a product, or from a number of alternative sources.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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