Cancer Biological Therapy Market Scenario:
Cancer is the leading and second largest cause of death across the globe. The disease is characterized by disordered and deregulated cellular and stromal explosion along with reduced cell death and growth factor deprivation, and such other factors.
The market driving factors for global Cancer Biological Therapy Market size are increasing cancer survival rates, growing demand for advanced therapies such as biological therapy, growth of cancer healthcare facilities in emerging countries etc. However the less number of side effects associated with biological therapy as compared to conventional treatment methods is the critical growth factor. Conventional cancer treatment methods like chemotherapy, radiotherapy give effective result, but along with that, these methods also show its counter effects on body. The side effects may include, loss of hair, weekend immune system, and such others depending upon the type and phase of cancer. Biological therapies help to reduce the level of side effects as compared to other treatment methods.
Another driver is the changing lifestyle and increasing smoking population in Middle East & Africa. It was also noted that, smoking population in Middle East has increased rapidly. For instance, between 1990 and 2012, rates of smoking in Lebanon have increased nearly by 500%. In fact, a study in the Economist pointed out that in 2012, the average Lebanese person smoked 2,379 cigarettes.
The critical restraints include high cost of cancer biological therapy and the risks involved in the treatment. The poor rate of healthcare insurance penetration in developing regions is also a drag on the market.
Considering all these factors the market for Cancer Biological Therapy is expected to reach $ 82,276.8 million by the end of 2030, this market is projected to growing at a CAGR of ~ 4.7 % during 2023-2030.
Key players of Global Cancer Biological Therapy Market:
Key players profiled in the report are Amgen Inc., Bristol-Myers Squibb, Celgene Corporation, ELI Lilly and Company, F. Hoffmann-La Roche AG, EnGeneIC Ltd, Merck & Co., Inc., Novartis,Pfizer Inc. and others.
Cancer Biological Therapy Segments:
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
US accounts for the maximum market share due to favorable reimbursement scenario and greater expenditure on healthcare. Europe is the second largest market due to large disposable income and rising awareness. Asia pacific region will be the fastest region because of large unmet needs which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa is expected to be a laggard due to poor economic and political conditions.
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