Cancer Biological Therapy Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Cancer biological therapy also referred to as immunotherapy or biotherapy comprises the use of living organisms or living organism-derived substances to treat cancer. Cancer biological therapies utilize body’s immune response to fight against cancer or reduce the side effects of various cancer therapies. This therapy works on principle of immune system stimulation of the body to resist against cancer cells. Cancer biological therapies may act against cancer cells directly or indirectly. Generally, immunotherapy acts indirectly on the cancer cells while other biological therapies like antibodies target cancer cells directly. Biological therapies, make use of various biological approaches like interleukins, interferon, monoclonal antibodies, and vaccines being promising among them. These therapies, comprising immunotherapy and oncolytic virus (OV) therapy, in comparison with conventional chemotherapy are efficient, often more physiological, has less side effects and show better tolerance in patients. Although various researches are in progress regarding forms of biological therapy, only a selected have been shown green signal for patient use by the U.S. Food and Drug Administration (FDA).

COVID – 19 scenario analysis: 

• Due to the ongoing COVID – 19 pandemic, with more than four million infections and the economies showing signs of the 2008 financial crisis, COVID-19 has impacted several industries including cancer biological therapy market as well.
• One of the key concerns looming across the cancer stem cell industry is the lack of optimum vector manufacturing capacity.
• The ongoing COVID-19 pandemic and the after lashes of lockdown in various countries across the globe is expected to pressurize the vector manufacturers to meet the future demand for cancer cell therapies.
• The cancer biological therapy market is in development stages and the manufacturers are trying to find better solutions to the ongoing challenges
• As there is strain on healthcare providers and the hospitals are flooding with patients suffering with SARS-CoV-2 and the intake capacity of hospitals is already at its peak, the cancer biotherapy patients along with their therapeutics have been either postponed or put on hold as the health professionals are summoned to fight COVID-19.
• Some research from China, has also stated that cancer patients are at higher risk as they’re vulnerable against SARS-CoV-2 and have higher chances of getting infected with the virus.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Growing patient pools of people suffering from cancer across the world is the key driving factor for growth of the cancer biological therapy industry in the near future. WHO stated in their studies that cancer is world’s second leading death cause resulting in more than 9.5 million deaths in the year 2018 alone. Furthermore, this situation would worsen with experts estimating prevalence of cancer to rise by 50% in 2020. Various factors contribute to differences in cancer prevalence in different geographies include the accessibility and utilization of oncology diagnostics, variable geriatric population and affordability and accessibility for oncology therapeutics. WHO also reported around 14 million new incidences and 8.2 million fatalities associated with cancer in 2012. The high use of tobacco use causes around 20% deaths due to cancer globally and is reason behind 70% deaths due to lung cancer globally. High consumption of alcohol and addiction to tobacco have caused significant contributions to global caner burden thereby augmenting the demand for biological therapies to treat cancer in the global market.

Pouring of funds into R&D activities and government initiatives to boost research related to cancer, successful ventures in clinical oncology, improved survival rate of patients and reduction in side effects of other cancer treatment therapies are considered as major factors responsible for fueling growth in the cancer stem cell market. Furthermore, growing adoption of biosimilars in the field of oncology, the availability of generic medicines for oncology treatment in the market owing to patent expiries, increasing disposable income and healthcare expenses and rising awareness regarding oncology therapeutics and benefits of biological therapies are further amplifying the growth for cancer biological therapy.

On the contrary, high treatment costs and adverse effects related to cancer therapeutics may restrict the growth for cancer biological therapy market. Additionally, poor healthcare scenario in several developing economies like India, cancer biotherapy is not included in insurance claims of medical insurance companies could impede the market growth.

Rising prevalence of cancer to boost the growth

According to the Cancer Research UK, around 17 million cancer cases were registered in 2018, out of which 56% of the cases were fatal. There are many key factors that may affect the success rate of chemo and radiation therapy and a person's survival rate such as age, overall health and cancer stage. As per a research report by the World Health Organization (WHO), in low- and middle-income countries, around 70% of deaths occurs due to cancer. Poor food habits, changing lifestyle, increase in of smoking habits, genetic mutation, alcohol and hormones consumption, urban air pollution are the frequent reasons for the increasing number of cancer patients in the world. Rising number of cancer across the globe is proving to be significant for boosting the growth of cancer biological therapy market.

Technological Advents to foster the market development

The technological advent and growing research in biological therapy development for cancer therapeutics and favorable government initiatives would propel the cancer biological therapy market. Researchers are emphasizing on the implementation of nanotechnology in the cancer biological therapeutics to provide better quality treatment to the patients. Integration of nanotechnology could revolutionize cancer therapeutics. Further, developments in materials science coupled with protein engineering would also aid healthcare professionals to accurately target cancer cells.

A Canada-based pharmaceutical firm WPD Pharmaceuticals recently announced the approval of two sublicenses for pancreatic cancer drug competitors, WP1122 and WP1732 – from a leading biopharmaceutical organization Moleculin Biotech, Inc. Both drug competitors have shown promising outcomes for treatment of pancreatic cancer.

Key benefits of the report:

• This study presents the analytical depiction of the global cancer biological therapy industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cancer biological therapy market share.
• The current market is quantitatively analyzed to highlight the global cancer biological therapy market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global cancer biological therapy market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Cancer biological therapy Market research report:

• Which are the leading market players active in the cancer biological therapy market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

 Cancer Biological Therapy Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights