Biological Therapies for Cancer – Overview
The rising prevalence of cancer cases worldwide is a prime factor augmenting the growth of the global biological therapies for cancer market. The need to decrease the effect of cancer in case it is incurable or treatable is rising especially in developing nations as there is high number of cancer cases, thereby augmenting the growth of the market during the forecast period set between 2021 and 2031.
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In biological therapy, the body’s own immune system is used to kill cancer cells. Biological therapy involves the use of either living organisms or substances obtained from living organisms or laboratory-produced. The biological response modifiers (BRMs) present in the human body helps to simulate the response of the body towards any infection. Various researchers worldwide are now getting involved in creating these BRMs by artificial method, which can be further used to trigger an immune response against the cancer infection. Such abilities are likely to help augment the growth of the market for biological therapies for cancer during the forecast period set between 2021 and 2031.
The report on the global biological therapies for cancer offers insights into the market in the form of innovations, growth drivers, and the possible challenges. It also focuses on the table of segmentation, and mentions the name of the leading segment and factors attributing to its growth. The impact of the novel COVID19 pandemic and how can players benefit from this situation are also discussed in this report. List of players and their key strategies to attract significant revenues are also discussed thoroughly in the report.
Biological Therapies for Cancer Market – Competitive Landscape
The global biological therapies for cancer market are highly competitive on account of the presence of multiple players. Some of them are indulging in collaborative efforts such as merger and acquisitions, joint ventures to gain an upper hand in the overall market competition. Others are investing heavily in research and development strategies for better medical aid and improve the overall healthcare and diagnostic scenario especially for cancer treatment. Such strategies and active participation by government and private hospitals as well as key players are likely to create significant growth opportunities for the overall market in the coming years.
Some of the key players of the global biological therapies for cancer market include:
- Hoffmann-La Roche
- Takeda Pharmaceuticals
- Eli Lily and Company
Biological Therapies for Cancer Market – Innovations
- In April 2020, Roche launched a new cancer immunotherapydrug called atezolizumab in India, April 2020. This drug is used for treating metastatic triple-negative breast cancer. This innovation not only increased the number of consumers opting for cancer biological therapy but also help improve the company’s overall portfolio.
Biological Therapies for Cancer Market – Drivers
The increasing prevalence of various types of cancer will augment the demand for the cancer biological therapy market during the forecast period. As per the World Health Organization, cancer is considered to be one of the leading causes of death on a global level with an estimated 10 million deaths recorded in 2020 alone. Besides this, the global statistics of cancer case is projected to touch the 19.3 million cases benchmark when calculated on a global basis. The high rate of such fatal diseases on a worldwide basis is expected to increase the need for therapy, thereby boosting the overall healthcare industry’s growth. Moreover, the rising number of collaborations and partnerships with external carcinogens, and the surging cases of cancer as a result of high alcohol and cigarette consumption rate will ultimately increase the demand for cancer biological therapy in the market in future.
Biological Therapies for Cancer Market – Regional Insights
Regionwise, the global market is holding highest shares from North America on account of the presence of high patient pool for cancer. Besides this, well-established medical infrastructure, coupled with most advanced medical technology for diagnosis in the developed nations of Canada and the United States are likely to help this region continue dominating the market in the forecast period as well.