Market Research Future (MRFR) evaluates that the Cancer Biological Therapy Market can touch an impressive USD 82,276.8 Million by 2023-end. MRFR also projects that the global cancer therapeutics market can attain a growth rate of 4.7 % from 2017 to 2023 (forecast period).

COVID-19 Analysis

The COVID-19 outbreak has temporarily paused cancer treatment across the world; however, the most affected are lung cancer patients as they are at a higher risk of the novel coronavirus. The lockdown has weakened the supply chains of several immunotherapy drugs with top vendors dealing with major manufacturing challenges. Shortage of essential raw materials following the COVID-19 pandemic could mean slower growth of the cancer biological therapy industry.

Clinical trials associated with cancer immunotherapy have been interrupted by SARS-CoV-2, delaying the development of advanced cancer immunotherapy drugs and devices. The lockdown has also delayed the therapy series of a huge number of cancer patients under immunotherapy, as a result of which the cancer biological therapy market has taken a severe hit, in terms of growth.

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Segmentation:

The global Cancer Biological Therapy market is segmented on the basis of phases. Based on the phases, the market has been segmented as phase I, phases II and phases III. Based on the type, the market has been segmented as monoclonal antibodies, interferons, interleukins, cancer growth inhibitors, gene therapy and colony-stimulating factors. Based on the end-users, the market has been segmented as hospitals & clinics, cancer research centers and laboratories.

Regional Analysis:

Global cancer biological therapy market, on the basis of regions is divided into North America, Europe, Asia Pacific and Middle East and Africa. North America is expected to commands the largest market share due to advanced technologies are continuously on rise in these countries. Europe accounts for the second largest market, where as Asia Pacific with lots of opportunity and continuously growing economies, is expected to be the fastest growing segment. Majorly due to recent developments in healthcare and improving economies. Middle East and Africa with less economic developments and extremely low income accounts for least market share in 2016 but is expected to grow with better cancer treatment in the countries.

Competitive Landscape

Players Spend Considerably on R&D Activities as Cancer Cases Escalate

Cancer has been the top reason for deaths worldwide, and in view of the escalating cases of different types of cancer, firms have been focused on spending considerably on R&D activities to produce technically innovative devices with multiple applications. Moreover, industry vendors also implement several competitive initiatives like acquisition, mergers and partnerships to strengthen their positions, which also results in biologic therapy market growth.

Amgen has been a well-known name in the cancer biological therapy industry, known for its commitment to the relentless focus on achieving breakthroughs for different cancer cases. The company boasts of a diverse and extensive range of advanced therapeutic approaches that facilitate successful outcomes.



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