Cancer Biological Therapy Market Size By Product (Monoclonal Antibodies {Naked Monoclonal Antibodies, Conjugated Monoclonal Antibodies, Bispecific Monoclonal Antibodies}, Vaccines {Preventive Vaccines, Therapeutic Vaccines}, Cancer Growth Blockers {Tyrosi

Cancer Biological Therapy Market Size By Product (Monoclonal Antibodies {Naked Monoclonal Antibodies, Conjugated Monoclonal Antibodies, Bispecific Monoclonal Antibodies}, Vaccines {Preventive Vaccines, Therapeutic Vaccines}, Cancer Growth Blockers {Tyrosine Kinase Inhibitors, Proteasome Inhibitors, mTOR Inhibitors}, Blood Cell Growth Factors {Lenograstim, Filgrastim}, Cytokine {Interferon, Interleukin}), By Route of Administration (Oral, Injectable), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Cancer Biological Therapy Market is poised to gain substantial traction through 2032, primarily owing to the growing geriatric population, since old age is one of the major risk factors for cancer. For instance, as per studies, while on average there are just 25 cases of cancer per 100,000 people who are under 20, this number rises to a whopping 1000 for 100,000 people when the age cap is more than 60 years.

Besides, the key providers in the cancer biological therapy market are also seeking a better foothold in the marketplace by expanding their portfolio, in addition to engaging in meaningful mergers, acquisitions, and joint ventures. To cite an instance, in December 2022, Genetech received FDA approval for Lunsumio, which can be used to treat refractory and relapsed follicular lymphoma. As per reports, Lunsumio is the first CD20xCD3 T-cell engaging bispecific antibody, which is a new kind of cancer immunotherapy.

Overall, the cancer biological therapy market has been segmented in terms of product, route of administration, and region.

On the basis of product, the market is likely to be characterized by the cancer growth blockers segment, which will grow at more than 6.5% CAGR during 2023 and 2032. The expansion can be attributed to the increasing demand for new cancer treatments. Besides, the development of more effective blockers and increasing R&D projects will also foster the market demand over the foreseeable period.

In terms of route of administration, the injectable segment is set to witness significant growth within the next ten years, due to the increasing adoption of antibodies-based cancer treatment. Besides, there have been constant clinical trials and R&D in this niche, which has added more options for injectable drugs. For instance, in May 2021, research titled, “Antibody-based cancer therapy” claimed that in the United States, cancer patients can opt for 43 different antibody therapeutics, out of which more than half have become available, only in the last 5 years.

In the regional context, the North America cancer biological therapy market held more than 40.5% market share in 2022 and is anticipated to further expand by 2032 end. This growth can be attributed to the increasing cases of cancer in North American region. As per reports, in 2022, the USA witnessed 1.9 million cancer cases and more than 600,000 deaths. Besides, rising adoption of a sedentary lifestyle, drug and alcohol abuse, and unhealthy dietary habits will also benefit the market over the next decade.