The cancer biologics market comprises a diverse range of drugs and therapies that are derived from living cells or organisms. These include monoclonal antibodies, cytokines, therapeutic vaccines, and cell and gene therapy products that play a crucial role in targeted treatment approaches for various cancers. Cancer biologics provide more sophisticated and precise treatments with lesser side effects compared to chemotherapy. Targeted therapies block the growth and spread of cancer by interfering with specific molecules involved in tumor growth and progression.
The global cancer biologics market is estimated to be valued at US$ 108.87 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2030.
Key players operating in the Cancer Biologics Market are F. Hoffmann-La Roche Ltd., Amgen, Inc., Pfizer, Inc., GSK plc., Bristol-Myers Squibb Company, Abbott, AstraZeneca, Eli Lilly and Company, Gilead Sciences, Inc., and Johnson & Johnson Services, Inc.
Key players: Key players operating in the cancer biologics market are focused on developing novel and effective biologic agents as well as combination therapies. Roche is a global leader in oncology with its flagship targeted therapies Herceptin, Avastin, and Rituxan.
Growing demand: Rising prevalence of cancer coupled with increasing availability and affordability of targeted cancer therapies is fueling the demand for cancer biologics. Growing acceptance of biological and immunotherapies over conventional chemotherapy further propels the market growth.
Global expansion: Major market players are expanding their production capabilities and global footprint via collaborations, acquisitions and new product launches to consolidate their market position. Emerging Asian countries with large patient pools present lucrative opportunities for industry players.
Market key trends
The rising adoption of targeted therapies over conventional chemotherapy presents immense opportunities for cancer biologics developers. The growing use of combination therapies involving immunotherapy and targeted agents is also emerging as a promising trend. Advances in recombinant DNA technology and cellular engineering are enabling improvements in efficacy, safety and convenience of cancer biologics. Additionally, personalized medicine approaches utilizing biomarkers and molecular profiling for patient selection are allowing delivery of right treatments to right patients.
Threat of new entrants: High capital requirements and strict regulations make entry difficult in this market.
Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over biotech firms and can negotiate lower prices.
Bargaining power of suppliers: Suppliers of specialized raw materials and production equipment have some bargaining power.
Threat of new substitutes: Emerging treatments pose a threat but substitutes are still limited given the complexity of biological drugs.
Competitive rivalry: Intense competition exists between large pharmaceutical companies in developing and commercializing new cancer biologics.
North America currently accounts for the largest share of the global cancer biologics market, valued at over US$ 50 Bn currently. This is attributed to advanced healthcare infrastructure, rising cancer incidence, and widespread health insurance coverage supporting drug affordability in the region.
Asia Pacific is poised to be the fastest growing regional market, expanding at a CAGR of around 6% through 2030. Improving access to healthcare, increasing disposable incomes, and growing awareness about advanced treatment options are fueling the demand for high-priced cancer biologics in emerging countries such as China and India.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it