Global Biological Therapies for Cancer Market: Overview
The world cancer research fund international (WCRF) estimates the number of cancer cases around the world to reach 24 million by 2035. This swelling number of cancer cases necessitate therapies that help in treating and decreasing the effect of the disease, if not cure them. Biological therapy for cancer is a type of treatment that uses body’s immune system to kill cancer cells. Biological therapy involves the use of living organisms or substances derived from living organisms or laboratory-produced versions. The biological response modifiers (BRMs) in the human body simulate the body’s response towards an infection. Researchers across the globe are now involved in creating such BRMs artificially, which can be used in triggering an immune response against the cancer infection.
A few of the BRM’s produced artificially are interferons, interleukins, and monoclonal antibodies. Interferons help in controlling the spread of cancer cells by modifying them into normal cells. There are three prominent types of interferons – interferon alpha, which is widely used for cancer treatments, interferon gamma, and interferon beta. Food and drug administration (FDA) in the U.S. has approved the use of interferons for treating Kaposi’s sarcoma, chronic myeloid leukemia, hairy cell leukemia, and melanoma. Interleukins are also a type of cytokines that help in the treatment of metastatic melanoma and metastatic kidney cancer. Monoclonal antibodies are an emerging biological therapy that currently scientists are evaluating for cancer treatment.
In general, biological therapies work in two ways, either by inducing the immune system to attack cancer cells or by making cancer cells easily recognizable for the immune system. The global market for biological therapies for cancer is projected for a healthy growth rate during the forecast period of 2016 to 2024.
Global Biological Therapies for Cancer Market: Trends and Opportunities
Since cancer is one of the world’s leading causes of death, the demand for biological therapies is on the rise, especially when global prevalence rate of cancer is swelling. This is the primary factor that will sustain the demand across the globe during the forecast period. The world health organization (WHO) estimates that the number of new cancer cases to rise 70% during the coming two decades, primarily due to growing consumption of tobacco and alcohol. Moreover, the awareness pertaining to the effectiveness of biological therapies in reducing treatment induced side effects is expanding, which is luring more healthcare organizations to offer it and patients are increasingly resorting to it. In addition, the growing availability of healthcare facilities in emerging economies via dedicated investments by respective governments is further augmenting the demand. Moreover, patent expiry of cancer drugs during the forecast period, rising impact of biosimilars, and increasing demand for biological and targeted drug therapies are some of the other favorable factors in the global market for biological therapies for cancer.
Conversely, high cost of drug development and side effects of cancer drug therapies are two of the main restraint over the market. The side effects of biological therapies differ based on treatment type, although pain, soreness, redness, swelling, rash, and itchiness are common. Less common but severely serious side effects of biological therapies for cancer include flu-like symptoms, fever, chills, nausea or vomiting, lowered or heightened blood pressure, and occasional breathing difficulties.
Global Biological Therapies for Cancer Market: Region-wise Outlook
Regionally, the global biological therapies market is segmented into North America, Europe, Asia Pacific, and rest of the world. Currently, North America market is dominated by two countries, the U.S. and Canada, who have the best-in-class healthcare infrastructure and an aggressive governance for new technology. However, the demand in the region of Asia Pacific is also expected to grow rapidly during the forecast period, owing to emerging economies of China and India. These two countries possess vast populations with increasing disposable amount. The healthcare sector is thriving in Asia Pacific too, supported by availability of skilled labor, which will further augment the growth of the market for biological therapies for cancer.
Companies mentioned in the research report
The biological therapies for cancer is an emerging market with nascent technologies, which makes the future very lucrative. This has attracted several pharmaceutical giants including GSK, Pfizer Inc., Novartis, Roche and Amgen to invest in this sector and tap the opportunities available in this market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.