The cancer biologics market involves products such as monoclonal antibodies, vaccines, cell and gene therapy products and others that are used for treatment of various types of cancers including lung cancer, breast cancer, prostate cancer, colorectal cancer, leukemia, lymphoma and other cancers. Cancer biologics work by targeting specific molecules, cell surface receptors or genes that allow cancer cells to grow abnormally and spread. These targeted therapies offer higher efficacy and fewer side effects than other treatment options such as chemotherapy.
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 of 2024 to 2030.
Key Takeaways
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. The rising prevalence of various types of cancers especially lung cancer, breast cancer and colorectal cancer have increased the demand for effective targeted therapies for treatment. Monoclonal antibodies especially have witnessed significant growth owing to success and high efficacy of drugs like Avastin, Herceptin and Rituxan.
The growing demand for cancer biologics is a result of increasing global cancer burden. According to WHO, cancer is the second leading cause of death globally and was responsible for an estimated 9.6 million deaths in 2018. The four major types of cancer including lung cancer, breast cancer, colorectal cancer and prostate cancer account for more than 40% of all cancer cases. rising awareness about cancer treatment options as well as benefits of targeted therapies over conventional chemotherapy is driving the adoption of cancer biologics.
Major companies in the cancer biologics market are focusing efforts on expanding their pipelines through acquisition and collaborations which is expected to further accelerate global market expansion during forecast period. For instance, in January 2020, CureVac AG and Eli Lilly and Company entered into a strategic collaboration to jointly discover, develop and commercialize mRNA-based cancer vaccines and immunotherapies.
Market drivers
One of the major drivers for cancer biologics market is the growing prevalence of cancer worldwide. According to WHO, cancer burden has risen to 18.1 million new cases and 9.6 million deaths in 2018 globally. The economic cost of cancer is also increasing substantially, estimated at approximately USD 1.16 trillion in 2018. This rising disease burden has increased focus on development and adoption of more effective and targeted treatment options like cancer biologics. The success of drugs like Herceptin, Avastin and Rituxan as first targeted therapies for breast cancer and colorectal cancer has created high demand and expectations from novel cancer biologics currently under development and clinical trials.
The current geopolitical situation is impacting the growth of the cancer biologics market in various ways. In recent times, there has been an increase in political conflicts and tensions among major countries like the US, China and Russia. The rising diplomatic issues have disrupted global supply chains for biologics drugs. This poses challenges for companies manufacturing biologics, in terms of availability of raw materials and components. Sustained supply is necessary for cancer patients undergoing treatment.
Geopolitical uncertainties have also slowed down cross-border investments and collaborations in the biotech sector. Many new drug development projects involving international partners have faced delays. This is negatively impacting R&D investments in oncology biologics. Additionally, macroeconomic headwinds due to high inflation and volatility in currency exchange rates are constraining healthcare budgets globally. This may restrict market growth in the short-term.
To overcome such challenges, manufacturers need to focus on strengthening local production capabilities and expanding supplier networks within regions. Diversifying manufacturing bases across different geographies can help mitigate supply disruption risks. Companies must also invest in continuous surveillance of political and economic developments worldwide to enable timely business adjustments. Collaborating more proactively with governments will help secure policy support. Overall, mitigating geopolitical dependencies will be vital for sustaining the long-term momentum of this market.
Geographical analysis:
In terms of value, North America dominates the global cancer biologics market currently, owing to high adoption and spending on advanced treatment options. The region accounted for nearly 40% revenue share in 2024. Growth is steady here driven by rising cases of cancer and favorable reimbursement policies in the US and Canada. Asia Pacific has emerged as the fastest growing regional market, witnessing a CAGR of over 6% during the forecast period. Rapid economic development, improving access to healthcare and increasing awareness programs are fueling the appetite for biologics in emerging countries like China and India.
The fastest growing region currently is Asia Pacific with China and India specifically providing significant opportunities. Increasing healthcare spends per capita, awareness programs by governments and charities, growing private insurance coverage are enhancing accessibility to premium treatment segments like cancer biologics. Rapid urbanization and rising middle-class populations are generating higher demand for advanced therapeutics to manage chronic diseases effectively. Further, growing R&D investments by regional and global biopharma players are aiding local product pipeline and driving market access expansion efforts.
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