Cancer Therapeutics and Biotherapeutics Market Size to Surpass US$ 339.44 Bn by 2030

According to Precedence Research, the global cancer therapeutics and biotherapeutics market size is expected to surpass around US$ 339.44 billion by 2030, growing at a CAGR of 8.6% from 2022 to 2030.


Ottawa, May 03, 2022 (GLOBE NEWSWIRE) -- The global cancer therapeutics and biotherapeutics market was estimated at US$ 161.76 billion in 2021. The government and big market participants are heavily spending in research and development. This factor is assisting in the creation of novel cancer treatments and therapies. Furthermore, market participants are collaborating on the development of cancer therapies and biotherapeutics. Over the forecast period, the introduction of new treatments and therapies is paving the way for the global cancer therapeutics and biotherapeutics market to flourish.

Get the Sample Pages of Report@ https://www.precedenceresearch.com/sample/1657

Furthermore, the global market for cancer therapies and biotherapeutics is expanding and developing due to the growing elderly population. The elderly is more vulnerable to such illnesses and require special attention and treatment. As a result, cancer therapies and biotherapeutics assist them in preventing such diseases.

Report Highlights

  • On the basis of application, lung cancer segment holds the largest market share in the global cancer therapeutics and biotherapeutics market. The lung cancer is considered as highly risky cancer type all over the world. Thus, this is driving the growth of the segment.
  • On the basis of top selling drugs, Revlimid segment holds the largest market share in the global cancer therapeutics and biotherapeutics market. The Revlimid is a drug that is used to treat a variety of malignancies. This medication extends the life of cancer patients.

Scope of the Report

Report AttributesDetails
Market Size in 2021USD 161.76 Billion
CAGR8.6% from 2022 to 2030
Revenue Forecast by 2029USD 311.70 Billion
Base Year2021
Forecast Data2022 to 2030
Companies CoveredAmgen Inc., Bristol-Myers Squibb, Celgene Corporation, ELI Lilly and Company, Hoffmann-La Roche AG, EnGeneIC Ltd, Merck & Co Inc., Novartis, Pfizer Inc., Johnson & Johnson

Regional Snapshot

North America is the largest segment for cancer therapeutics and biotherapeutics market in terms of region. In North America, the U.S. dominated the market for cancer treatments and biotherapeutics. The cancer therapeutics and biotherapeutics market is growing due to the large number of market players. The rising prevalence of malignancies such as breast cancer, prostate cancer, and lung cancer is another factor driving the growth of the cancer therapies and biotherapeutics market in the North American region.

Asia-Pacific region is the fastest growing region in the cancer therapeutics and biotherapeutics market.In the Asia-Pacific area, China and India are the market leaders in cancer therapies and biotherapeutics. The Asia-Pacific cancer therapies and biotherapeutics market is expanding due to rising cancer awareness in countries like India, China, South Korea, and Japan. These countries' governments are heavily spending in research and development.

Ask here for more customization study@ https://www.precedenceresearch.com/customization/1657

Market Dynamics

Drivers

Growing prevalence of cancer

The cancer is considered as the biggest cause of death globally, with approximately 10 million fatalities expected in 2020, for almost one in every six deaths. The breast cancer, prostate cancer, and lung cancer are common types of cancer. To curb these statistics of death due to cancer, the cancer therapeutics and biotherapeutics are adopted on a large scale. Thus, growing prevalence of cancer is driving the growth of the cancer therapeutics and biotherapeutics market.

Restraints

Risks associated with anti-cancer drugs

The cancer therapeutics and biotherapeutics sometimes can cause complications for the cancer patients. The cancer drugs and medications are not suitable for everyone. Sometimes these can cause adverse effects on the patient body. To avoid such complications, doctors and healthcare practitioners are avoiding the usage of the cancer therapeutics and biotherapeutics. As a result, risks associated with anti-cancer drugs are restricting the growth of the global cancer therapeutics and biotherapeutics market over the forecast period. Moreover, the expansion of the cancer therapeutics and biotherapeutics market is expected in near future due to launch of new products in the market.

Opportunities

Growing geriatric population

The population of old people is growing at a rapid pace. The old people are more vulnerable to the cancer disorders. The old women mostly face problems of breast cancer. To treat such diseases, the healthcare practitioners and doctors are using cancer therapeutics and biotherapeutics on a large scale. The cancer therapeutics and biotherapeutics help geriatric population to boost their immune system. As a result, growing geriatric population is creating lucrative opportunities for the growth of the cancer therapeutics and biotherapeutics market.

Challenges

Lack of resources for the development of cancer therapeutics and biotherapeutics

The developing and underdeveloped countries does not have enough resources for the development of cancer therapeutics and biotherapeutics. Even healthcare sector is not so developed which can help in the growth of the cancer therapeutics and biotherapeutics market. This is having adverse effects on the growth of the market. As a result, lack of resources for the development of cancer therapeutics and biotherapeutics is a major challenge for the cancer therapeutics and biotherapeutics market growth over the forecast period.

Browse more related reports@ https://www.precedenceresearch.com/industry/healthcare

Recent Developments

  • Atara Biotherapeutics and Bayer declared agreement in December 2020 for mesothelin targeted CAR T-cell therapy for the treatment of various cancers including global license agreement and production. This approach aims to improve the company’s market position and oncology product pipeline.
  • Roche offered atezolizumab in India in April 2020. The drug atezolizumab is used to treat triple negative breast cancer that has spread widely. This strategy increased the company’s product portfolio and led the additional cancer biology therapy clients.

Market Segmentation

By Application

  • Blood Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Prostate Cancer
  • Breast Cancer
  • Cervical Cancer
  • Head and Neck Cancer
  • Giloblastoma
  • Malignant Meningioma
  • Mesothelioma
  • Melanoma
  • Others

By Top Selling Drugs

  • Revlimid
  • Avastin
  • Herceptin
  • Rituxan
  • Opdivo
  • Gleevec
  • Velcade
  • Imbruvica
  • Ibrance
  • Zytiga
  • Alimta
  • Xtandi
  • Tarceva
  • Perjeta
  • Termodar
  • Others

By Product Type

  • Chemotherapy
  • Radiation Therapy
  • Hormone Therapy
  • Biotherapy
  • Others

By End User

  • Consumption (Sales)
  • Household
  • Hospital

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Click Here to View Full Report Table of Contents

Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1657

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333

About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

For Latest Update Follow Us:

https://www.linkedin.com/company/precedence-research/

https://www.facebook.com/precedenceresearch/

https://twitter.com/Precedence_R