Rising incidence rates and increased adoption of biologic therapy will drive global cancer biological therapy market size. According to WHO estimates, the number of new cancer cases are projected to rise by 70% in the next two decades, largely due to increased consumption of alcohol and tobacco. It is estimated by the ACS that 180,890 prostate cancer and 246,660 breast cancer cases will be diagnosed in 2016 in the U.S.
Mounting global geriatric population is predicted to boost cancer biological therapy market size owing to correlation between new cases and old age. Elderly population is more prone to the disease and according to ACS, 86% of cases in the U.S. were recorded in individuals aged 50 and above. High associated cost attributed to the cost of drug development may act as a major bottleneck to growth. Millions of dollars are spent in identifying a potent drug, obtaining its preclinical data and carry out its clinical trials. Monopoly is yet another factor that contributes to higher cost. The emergence of new therapeutic classes with reduced adverse-effects, such as immuno-oncologics will change the industry landscape.
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Cancer vaccines market was over USD 1.9 billion in 2015. Approval of the first vaccine sipuleucel-T (Provenge) for metastatic prostate cancer by the FDA will boost growth in the immunotherapy segment. Cancer growth blockers market was over USD 18 billion in 2015, and is expected to grow at 5.8% CAGR from 2016 to 2023. Tyrosine kinase inhibitors dominated revenue share among the growth blockers in 2015 and is expected to continue witnessing steady growth.
Monoclonal antibodies market size was over USD 21 billion in 2015. Antibody therapy has been the most successful and important approach for treatment of hematological malignancies and solid tumors. Bispecific monoclonal antibodies are anticipated to grow at 6.5% CAGR from 2016 to 2023
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Last updated on: 17/10/2016
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