Cancer Biologics Market 2024-2028: Size and High cost of cancer biologics; growth driven by the Product, Some of key Companies Positioned Strategically

The cancer biologics market size by Product (Monoclonal antibodies, Cell and gene therapy, Vaccines, and Others), Route Of Administration (Injectable and Oral), and Geography (North America, Europe, Asia, and Rest of World (ROW)), is forecast to increase by USD 51.08 billion. The market is expected to grow at a CAGR of   9.18% between 2024 and 2028.

• The production and distribution of cancer biologics, such as monoclonal antibodies, entail the utilization of advanced technologies and intricate procedures, leading to substantial manufacturing costs. Regulatory agencies, including the FDA and EMA, impose distinct approval processes for biologics compared to conventional drugs, further increasing development expenses. Moreover, the clinical trial duration for biologics is typically longer than that of chemical drugs, exacerbating the cost of bringing these treatments to market. Consequently, manufacturers must charge premium prices for cancer biologics, posing a significant financial challenge for patients, particularly those in low and middle-income countries.
• The North American cancer biologics market is experiencing significant growth due to the increasing incidence of various types of cancer, including breast cancer, esophageal cancer, pancreatic cancer, gynecological cancers, and rare cancers such as neuroblastoma. According to the CDC, approximately 237,000 breast cancer cases are diagnosed annually in the US, while the NIH estimates that around 650 children are diagnosed with neuroblastoma each year. Regulatory authorities, such as the FDA, are accelerating market expansion by granting approvals for innovative cancer biologics. This trend is expected to continue, driving market growth in the region.

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Some of the Key Companies:

• Amgen Inc.
• AstraZeneca Plc
• Bayer AG
• Biocon Ltd.
• Biogen Inc.
• Bristol Myers Squibb Co.
• Celltrion Co. Ltd.
• Cipla Ltd.
• Dr Reddys Laboratories Ltd.
• Eli Lilly and Co.
• F. Hoffmann La Roche Ltd.
• Gilead Sciences Inc.
• GlaxoSmithKline Plc
• Jazz Pharmaceuticals Plc
• Johnson and Johnson
• Lupin Ltd.
• Merck KGaA
• Novartis AG
• Ono Pharmaceutical Co. Ltd.
• Viatris Inc.

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