Cancer Biologics Market to Grow at a CAGR of 8.2% to 2022 a Report From TBRC
LONDON, Sept. 24, 2019 /PRNewswire/ -- The global cancer biologics market was valued at about $64.06 billion in 2018, and is expected to grow to $87.74 billion at an annual growth rate of 8.2% through 2022. Rising prevalence of chronic diseases is one of the major factors driving the cancer biologics market growth. Chronic disorders are the diseases which persist over a long period of time and hinder the health of people with disabilities. 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.
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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. North America was the largest region in the cancer biologics market in 2018, followed by Europe. North America is expected to remain the largest during the next five years. The cancer biologics market in Asia Pacific is forecast to register the highest annual growth rate during 2018-2023.
Adverse Effects Associated With The Use Of Cancer Biologics Will Restrain The Market Growth - 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 diarrhea 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 lead to enhanced survival response rates, but these additions also bring some unique adverse reactions from the patients.
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Cancer Biologics Market Players' Investments And Strategies - Major players in the global cancer biologics market include AbbVie Inc., Hoffman-La Roche, GlaxoSmithKline, Eli Lilly and Company, and Amgen, Inc. Companies have been investing in merger and acquisition activity to strengthen and expand their businesses. In May 2019, Evotec SE, a drug discovery and development solutions provider, acquired Just Biotherapeutics, Inc. for $90 million. The acquisition will help Evotec's business to grow into offering biologics for therapeutic areas such as oncology. Just Biotherapeutics is a US-based unique technology company that integrates highly synergistic scientific expertise and ML driven technologies for the development and manufacturing of biologics at high standards.
Companies in the cancer biologics market are developing predictive biomarkers which help 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 cost-effective treatment regimens, especially for the biologics based on gene therapy.
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