The Cancer Biologics Market Share, Market Size, And Growth Rate 2022
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The cancer biologics market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 10%, as per The Business Research Company’s market report!
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The Cancer Biologics Market Size In 2022 And Forecast
The global cancer biologics market is expected to grow from $76.46 billion in 2021 to $86.64 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The cancer biologics market is expected to reach $129.05 billion in 2026 at a CAGR of 10.5%.
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.
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Rise In The Prevalence Of Chronic Diseases Is Driving The Growth Of The Cancer Biologics Market
According to World Health Organization (WHO), in 2020 chronic diseases accounted for 75% of deaths globally. Therefore, the rising prevalence of chronic diseases is expected to drive the growth of the cancer biologics market over coming years.
Competitive Landscape And The Regional Analysis Of The Cancer Biologics Market
Major players in the cancer biologics market are AbbVie Inc., Hoffman-La Roche, GlaxoSmithKline, Eli Lilly and Company, Amgen Inc., Bristol-Myers Squibb Company, Johnson & Johnson, Merck & Co.Inc., Novartis and Pfizer.
Additionally, as per TBRC’s research – North America was the largest region in the cancer biologics market in 2021 holding the largest market share and The Middle East is expected to be the fastest-growing region in the forecast period.
The Cancer Biologics Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cancer biologics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the cancer biologics market.
Developing Predictive Biomarkers – A Key Trend In The Cancer Biologics Market
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.
Cancer Biologics Market Segmentation By The Business Research Company
1) By Type: Monoclonal Antibodies, Vaccines, Cell and Gene Therapy, Others
2) By Application: Non-Small Cell Lung Cancer, Prostate Cancer, Breast Cancer, Acute Myeloid Leukemia, Lymphoma, Multiple Myeloma, Ovarian Cancer, Colorectal Cancer, Gastric Cancers, Others
3) By Distribution Channel: Hospitals, Clinics, Others
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