LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/Biotechnology?src=hash" target="_blank"gt;#Biotechnologylt;/agt;–The global cancer biologics market is expected to post a CAGR of over
11% during the period 2019-2023, according to the latest market research
report by Technavio.
Many players in the market are investing heavily in the development of
cancer biologics. Hence, numerous biologic molecules are in the late
stages of development for the treatment of cancer. Furthermore,
regulatory agencies have fastened the approvals for cancer biologics,
which is also contributing to the approval of new biologics for the
treatment of cancer. The presence of a robust pipeline and the approval
of new drugs are expected to drive the growth of the global cancer
biologics market during the forecast period.
As per Technavio, the increased use of predictive biomarkers will have a
positive impact on the market and contribute to its growth significantly
over the forecast period. This global
cancer biologics market 2019-2023 research report also
analyzes other important trends and market drivers that will affect
market growth over the forecast period.
Global cancer biologics market 2019-2023:
Increased use of predictive biomarkers
The development in areas such as genomics, proteomics, metabolomics, and
imaging has enabled comprehensive analysis of tumor cells. Cancer
etiology differs from patient to patient. The adoption of predictive
biomarkers help in studying the cause of the tumor growth in patients.
It helps in deciding treatment regimens and in the early detection of
cancer. This facilitates designing cost-effective therapies for
patients. The increasing use of predictive biomarkers is one of the key
trends that is expected to fuel the market’s growth during the forecast
“North America will witness a faster growth in the cancer biologics
market during the forecast period. There is a rising incidence of
cancers such as breast cancer, esophageal cancer, pancreatic cancer, and
other rare cancers in the region. Additionally, the availability of
reimbursement schemes in countries such as the US and Canada are
contributing to the market’s growth. The Asian market is driven by the
high prevalence of breast cancer. Moreover, the occurrence of rare
cancers such as neuroblastoma is also on the rise. Neuroblastoma was the
second most common extracranial solid tumor in children under the age of
15 years in Japan. The occurrence of such cancer cases are expected to
support the growth of the market”, says an analyst at Technavio.
Global cancer biologics market: Segmentation
This market report segments the global cancer biologics market by
product (monoclonal antibodies, vaccines, cell and gene therapy, and
others) and geography (Asia, Europe, North America, and ROW).
North America led the market in 2018, followed by Europe, Asia, and ROW
respectively. The dominance of North America can be attributed to the
growing incidence of cancer in countries such as the US and Canada.
Additionally, the accelerated approvals for cancer biologics granted by
the regulatory authorities in the region is contributing to the market’s
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