The global cancer therapeutics and biotherapeutics market is anticipated to grow significantly over the forecast period. Cancer is a disease caused by uncontrolled and abnormal cell proliferation which invade or spread to other body parts and is known as a malignant tumor. As per the WHO, cancer which includes breast cancer, cervical cancer, liver, stomach, prostate cancer, and others is one of the well-known causes of death Biotherapy is the new approach for cancer treatment as it influences the natural tendency of the body to fight against cancerous cells without affecting healthy tissues. Increasing prevalence of cancer, rising demand for targeted drug therapy, and the introduction of advanced treatment methods are some of the emerging growth factors for the biotherapeuics market. Moreover, increasing demand for personalized medicine rendering accurate and effective results is expected to serve this market as a high impact driver.
On the basis of technology, the global market of cancer therapeutics is classified into chemotherapy, radiation therapy, hormone therapy, and biotherapy. In chemotherapy, one or more drug or combination of drugs is used for treating cancer. It includes alkylating agents, cytotoxic agents, antimetabolites, plant derivatives, and others. Radiation therapy, radiation oncology or radiotherapy, involves the use of ionizing radiation to control or kill the cancerous cells. It includes external beam radiation therapy, intraoperative radiotherapy, radioisotope therapy, and brachytherapy. Hormone therapy involves the exogenous administration of hormones for manipulating endocrine systems which act as a hormone antagonist by inhibiting the activity or production of such hormones. Hormone therapy includes hormone antagonists or antagonists, corticosteroids, selective estrogen receptor modulators (SERMs), and aromatase inhibitors. Surgical removal of endocrine organs is considered as a form of hormonal therapy.
Biotherapeutics or biologic or biotech drugs are derived from living organisms and used to treat fatal diseases like cancer, rheumatoid arthritis, sclerosis, and others. Biotherapy boosts or restores the body’s natural immune system to stop or slow down the growth of cancer cells. It includes monoclonal antibodies, interleukin or interferons, kinases, and other. The global cancer therapeutics market is segmented into four major regions such as Europe, North America, Asia- Pacific, and RoW. North America is considered as the most dominant market due to favorable government policies towards proper diagnosis, screening, and treatment of cancer, availability of better R&D facilities, and the presence of advanced technologies. Europe and Asia Pacific market are emerging due to the development of various plans and policies of the government, rising incidences of cancer, improvements in healthcare services, rising awareness about advanced cancer treatment, and rising economic development.
Key players in this cancer therapeutics and biotherapeutics market include Bristol-Myers Squibb, AstraZeneca PLC, Pfizer Inc., Biogen IDEC, Company, Sanofi, Genentech, Eli Lilly & Company, Merck & Company Inc., Novartis AG, Johnson & Johnson, Roche, and Schering-Plough.
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.