The global cancer biological therapy market is expected to witness significant growth owing to the large patient pool. There are also other factors that drive the growth of the market such as the growing prevalence of several cancers, growing impact of biosimilar, continuous patent expiry of cancer drugs growing demand for biological and targeted drug therapy.
Biological therapy consists of using a living organism substance derived either from living organisms or laboratory-produced variations of the substances to treat a particular disease. Biological therapies generally comprise interleukins, interferons, monoclonal antibodies, vaccines, and so on. Biological therapy utilizes the body’s immune system either directly or indirectly in order to fight cancer. Some biological therapies for cancer use vaccines or bacteria to stimulate the body’s immune system to act against cancer cells whereas some therapies involve antibodies.
On the other hand, there are also factors that hamper the growth of the market such as the high expenditure on drug development, the adverse effects of cancer drug therapy, the risk of failure in treatment, and stringent government guidelines
The global cancer biological therapy market is classified on the basis of product, distribution channel, and geography. On the basis of product, the global market is classified as Monoclonal antibodies, Vaccines, Cancer growth blockers, Blood cell growth factors, and Cytokines.
The “Monoclonal antibodies” segment is further sub-classified as Naked monoclonal antibodies, Conjugated monoclonal antibodies, and Bispecific monoclonal antibodies. The “Vaccines” segment is further sub-classified as Preventive vaccines and Therapeutic vaccines. The “Cancer growth blockers” segment is further sub-classified as Tyrosine kinase inhibitors, Proteasome inhibitors, and mTOR inhibitors. The Blood cell growth factors segment is further sub-classified as Lenograstim and Filgrastim. The “Cytokines” segment is further sub-classified as Interferons and Interleukins.
On the basis of distribution channels, the global cancer biological therapy market is classified as Hospital pharmacies, retail pharmacies, and Mail-order pharmacies. On the basis of geography, the global market is classified as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and the Middle East & Africa.
The North American region comprises the U.S. and Canada. Latin America comprises Mexico and Brazil. The Western European region comprises Germany, Italy, England, Spain, France, Nordic countries, and BENELUX. The Eastern European region comprises Russia, Poland, and the Rest of Eastern Europe. Asia Pacific Excluding Japan comprises China, India, ASEAN, Australia & New Zealand. The Middle East and Africa comprise GCC, S. Africa, N. Africa, and the Rest of MEA.
In case of geography, North America dominates a major share of the global cancer biological therapy market. The North American market is followed by Europe, Asia Pacific. The factors that fuel the growth of the North American market is rising R&D investments and government initiatives, increasing disposable income, the presence of a great number of cancer biological drug and vaccine manufacturers, affordable cancer treatment facility, and increasing health insurance coverage for serious diseases.
On the other hand, Asia Pacific is projected to develop at the highest rate owing to the growing occurrence of cancer, large patient pool, improving healthcare facilities, etc. In Asia Pacific region, Japan contributes a major share of the cancer treatment market. Some of the prominent players that fuel the growth of the global cancer biological therapy market include Amgen Inc., Bristol-Myers Squibb, Celgene Corporation, F. Hoffmann-La Roche AG, Novartis International AG, Merck & Co., Inc., GlaxoSmithKline Plc, Eli Lilly, Spectrum Pharmaceuticals, Inc., Seattle Genetics, Inc., etc.
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