Cancer biologics Global Market Report 2024

The cancer biologics market size has grown rapidly in recent years. It will grow from $106.2 billion in 2023 to $117.03 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth observed in the historical period can be attributed to several key factors. These include the escalating incidence of cancer cases worldwide, a heightened awareness and understanding of the benefits of cancer biologics among healthcare professionals and patients, advancements leading to improved efficacy and safety profiles of these biologics, regulatory approvals for new cancer biologics expanding treatment options, and a growing acknowledgment and utilization of combination therapies for cancer treatment. These elements collectively contributed to the growth and acceptance of cancer biologics, fostering their increased adoption in cancer care and treatment protocols.

The cancer biologics market size is expected to see rapidly grown in the next few years. It will grow to $168.75 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The anticipated growth in the forthcoming period can be attributed to several contributing factors. These include the expansion of indications for existing cancer biologics, the development and utilization of combination therapies to enhance treatment effectiveness, the growing utilization of real-world evidence to inform treatment decisions, and advancements in gene and cell therapies, offering promising avenues in cancer care.

The upward trend in chronic disease prevalence stands as a key driver in propelling the growth of the cancer biologics market. Chronic diseases, persisting over extended periods, often affect people's health and wellbeing, with cancer being one of the most prevalent chronic conditions. Notably, common cancers include breast, lung, prostate, colon, rectum, skin melanoma, bladder, non-Hodgkin lymphoma, kidney, endometrial, leukemia, pancreatic, thyroid, and liver cancers. By January 2023, the National Center for Biotechnology Information projects a significant surge in the number of individuals aged 50 years and older experiencing chronic illnesses, expected to reach 142.66 million by 2050 in the United States, up from 71.522 million in 2020. This escalation in chronic disease prevalence is poised to steer the cancer biologics market's growth trajectory in the foreseeable future.

The upsurge in investments directed towards cancer research is predicted to act as a catalyst in driving the expansion of the cancer biologics market. Investments in cancer research denote financial backing channeled towards scientific endeavors aimed at comprehensively understanding, preventing, diagnosing, and treating cancer. Heightened funding in this domain empowers pharmaceutical and biotechnology entities to delve into pioneering discoveries, rigorous testing, and development of novel cancer biologics, including drug target identification and potential candidate synthesis. For instance, in March 2022, the Australian-based government agency, the Department of Health and Aged Care, allocated $893.5 million to bolster cancer services and outcomes. Part of this investment, around $329.4 million, supports the introduction of new cancer medications like Trodelvy, Lynparza, and Mylotarg, designed for various cancer types, benefiting a substantial number of patients annually. Consequently, increased investment in cancer research is expected to propel the growth of the cancer biologics market moving forward. Entities within the cancer biologics market are actively engaged in developing predictive biomarkers, aiding physicians in treatment decisions by leveraging physiological indicators for performance prediction. Predictive biomarkers meticulously examine tumor growth in patients by scrutinizing major causative factors, given the distinct etiology of cancer among individuals. These biomarkers serve not only in early cancer detection but also in determining the most cost-effective treatment approaches, especially concerning biologics rooted in gene therapy.

Major players in the cancer biologics market are intensively focused on crafting cancer biosimilars, exemplified by ONTRUZAN, to secure a competitive edge. ONTRUZAN, a biosimilar drug, is specifically formulated to address various cancer forms, encompassing breast and gastric cancer treatments. In November 2022, Organon, a Canada-based women's health firm, launched ONTRUZAN, a Herceptin biosimilar, broadening the therapeutic options for Canadian adults confronting early breast cancer (EBC), metastatic breast cancer (MBC), and metastatic gastric cancer (MGC). This strategic inclusion of biosimilars into breast and gastric cancer treatments aims to expand access to cost-effective medications, thereby fostering avenues for continual reinvestment in healthcare system innovations.

In November 2022, Biocon Biologics Ltd., an esteemed biopharmaceutical company based in India, successfully acquired the global biosimilars business situated in North America from Viatris Inc., a prominent global pharmaceutical and healthcare corporation. The specific financial details of the transaction remain undisclosed. This strategic acquisition represents Biocon's strategic move to strengthen its position within the global biosimilars market, enabling the company to provide comprehensive end-to-end solutions to a wide spectrum of patients and customers worldwide. Viatris Inc., recognized as a US-based global pharmaceutical and healthcare corporation, has specialized expertise in cancer biologics, and this acquisition is expected to augment Biocon's capabilities and further its reach in the biosimilars domain, reinforcing its commitment to advancing healthcare solutions across the globe.

Major companies operating in the cancer biologics market include AbbVie Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Eli Lilly and Company, AmgenInc., Bristol-Myers Squibb Company, Johnson & Johnson, Merck & Co.Inc., Novartis AG, Pfizer inc., Celgene Corporation, Serum Institute of India Pvt. Ltd., Daiichi Sankyo Company Ltd., Seagen Inc., Takeda Pharmaceutical Company Limited, Biogen Inc., Vertex Pharmaceuticals Incorporated, Incyte Corporation, Karyopharm Therapeutics Inc., Kyowa Kirin Co Ltd., Ipsen Biopharmaceuticals Inc., Bayer AG, Biocon Limited, Genentech Inc., Gilead Sciences Inc., Puma Biotechnology, Regeneron Pharmaceuticals Inc., Stryker Corporation, Terumo Corporation.

North America was the largest region in the cancer biologics market in 2023. The Middle East is expected to be the fastest growing region in the global cancer biologics market share during the forecast period. The regions covered in the cancer biologics market report 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, UK, USA, Italy, Spain, Canada.

The primary categories of cancer biologics consist of monoclonal antibodies, vaccines, cell and gene therapy, and other specialized therapies. Monoclonal antibodies, developed through cloning a single white blood cell, originate from a singular parent cell and have widespread application in various cancer types such as non-small cell lung cancer, prostate cancer, breast cancer, acute myeloid leukemia, lymphoma, multiple myeloma, ovarian cancer, colorectal cancer, gastric cancer, and more. These biologics are distributed through diverse channels including hospitals, clinics, and other healthcare facilities to aid in cancer treatment and care.

The cancer biologics market research report is one of a series of new reports provides cancer biologics market statistics, including cancer biologics industry global market size, regional shares, competitors with a cancer biologics market share, detailed cancer biologics market segments, market trends and opportunities, and any further data you may need to thrive in the cancer biologics industry. This cancer biologics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The cancer biologics market consists of sales of cancer vaccines, cytokine therapy, and angiogenesis inhibitors. Values in this market are factory gate values which are the values of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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