Cancer therapeutics and biotherapeutics is a large and growing market globally. While conventional treatment options such as chemotherapy have limitations, newer biological and targeted therapies are revolutionizing cancer treatment. Biological therapies harness the power of the human immune system or block cancer cell growth using monoclonal antibodies or other agents. Targeted cancer therapies focus on specific molecular targets found in cancer cells unlike chemotherapy which affects all rapidly dividing normal and cancerous cells. With advances in understanding cancer biology and technological innovations, a wide range of biologics and targeted therapies are being developed and commercialized. These newer therapeutic approaches have improved survival and quality of life for many cancer patients.
Market Dynamics:
The global cancer therapeutics and biotherapeutics market growth is driven by the rising global cancer burden, growing demand for personalized medicine, increasing research funding for cancer drug development, and launch of novel targeted and biological therapies. However, high developmental costs of biologics and targeted drugs along with associated technical challenges are restraining the market growth. Ongoing R&D for newer mechanisms and combination therapies provide opportunities for market expansion.
Key Features of the Study:
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