Cancer Biologics Market

Cancer Biologics Market is Expected to be Flourished by Rising Adoption of Targeted Therapies


Cancer biologics are proteins and molecular constructs developed through biotechnology to treat or prevent cancer by controlling or boosting the immune system. Examples of cancer biologics include monoclonal antibodies, cytokines, interleukins, protein/peptide-based vaccines, and cell-based immunotherapies. They work by targeting specific molecules (such as proteins on the surface of cancer cells or in nearby blood vessels) that help tumor cells grow and spread. The global cancer biologics market is dominated by monoclonal antibody therapies, which have a major share due to the rising adoption of targeted therapies for cancer treatment.

The global cancer biologics Market is estimated to be valued at US$ 94.5 Bn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The global demand for cancer biologics is primarily driven by the rising prevalence of cancer worldwide and growing adoption of targeted therapies over conventional chemotherapies due to lesser side effects.

Market Dynamics:

The heading incorporated the given market name “Cancer Biologics Market” and opportunity “Rising adoption of targeted therapies”.

The rising adoption of targeted therapies is one of the major drivers propelling the growth of the cancer biologics market. Targeted therapies attack specific cancer cells by interfering with specific molecules involved in tumor growth and progression and provide an improved safety profile and increased effectiveness compared to conventional chemotherapy. For instance, Roche’s Avastin (bevacizumab) is a leading targeted biologic approved for various cancers such as colon, lung, glioblastoma, and renal cell carcinoma. Additionally, rising prevalence of cancer due to changing lifestyle habits such as smoking, drinking, lack of physical activity, obesity, and consumption of processed foods is also fueling the demand for cancer biologics during the forecast period. According to WHO, cancer burden has risen to 19.3 million cases and 10 million cancer deaths in 2020 globally. However, high costs associated with biologic drug development as well as sale prices are hindering the market growth.

Segment Analysis

The cancer biologics market is segmented into monoclonal antibodies, vaccines, cell and gene therapy, and other cancer biologics. Among these, monoclonal antibodies sub segment dominates the market, accounting for over 50% market share in 2023. Monoclonal antibodies are highly target-specific therapeutic modality which enables them to treat various cancers effectively with minimal side effects, making them the preferred biologic drug type among medical professionals and cancer patients.

PEST Analysis

Political: Governments across major markets are supportive in terms of funding cancer R&D and expediting drug approval process which boosts adoption of new biologic drugs. Economic: Growing healthcare spending and rising GDP in emerging nations increase the affordability of quality cancer treatment including adoption of high priced biologics.

Social: Increasing public awareness about early detection and availability of effective treatment options is driving voluntary screening and boosting demand for cancer biologics. Technological: Advancements in fields of genomics, proteomics, and cell and gene therapy are leading to development of novel biologic modalities with greater selectivity and efficacy against cancer.

Key Takeaways

The Global Cancer Biologics Market Share is expected to witness high growth at a CAGR of 4.1% between 2023-2030. The global cancer biologics Market is estimated to be valued at US$ 94.5 Bn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030.

North America is expected to continue dominating the market through the forecast period led by presence of major pharma companies and expanding reimbursement coverage for cancer drugs in countries like US and Canada.

Key players operating in the cancer biologics market 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., and Johnson & Johnson Services, Inc. Asia Pacific region is poised to be fastest growing market due to huge patient pool, rising healthcare infrastructure, and shift of major pharmaceutical players looking to leverage the domestic research opportunities in the region. Key players operating in the cancer biologics market are focusing on expanding their immunotherapies and targeted therapies portfolios as these segments are witnessing strongest demand growth.

1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it