Cancer Biological Therapy Market share to grow at over 4.8% CAGR from 2016 to 2023: Fractovia.org Industry Trends: Global Cancer Biological Therapy Market size contribution was $61.4 billion for 2015 with overall revenue predicted to surpass $101 billion during forecast period with CAGR of more than 6.1%. Increase in proportion of different kinds of cancers and rising acceptance of biological treatment is predicted to drive global cancer biological therapy industry trends. As per WHO reports, proportion of new cases of cancer are expected to increase by 70.1% in future and the reason for this being enhanced consumption of alcohol and tobacco. Increase in aging population all across the globe is projected to fuel global biological cancer therapy industry due to correlation between aging and new cases. Further, old people are more vulnerable to cancer ailment and this key aspect is predicted to boost industry demand.
High treatment cost of cancer therapy is mainly owing to high price of medicines. Lot of expenditure is incurred on recognizing and designing a medicine, acquiring preclinical information and clinical trials. It is also forecast that each medicine costs more than $1.2 billion. Drug monopoly is yet another factor adding to high medicine price. Further, there are less proportion of firms involved in drug production resulting in less competition and higher costs. All these factors can inhibit the growth of global cancer biologic therapy market trend. Product Trends: Global cancer biological therapy industry was segmented into products like cytokines, monoclonal antibodies, blood cell growth factors, monoclonal antibodies and vaccines. Monoclonal antibodies segment contributed more than $21.1 billion for 2015. Antibody treatment is the most significant and successful approach used for treating solid burns as well as hematological malignance. This is one of the reason for the segment growth. This segment is sub -segmented into bi-specific monoclonal antibodies, naked monoclonal antibodies and conjugated monoclonal antibodies. Bi-specific monoclonal antibodies sub-segment is predicted to register CAGR of 6.51% during forecast timeline.
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