Cancer Therapeutics and Biotherapeutics Market to Register a Stout Growth by End 2024
As per the World Health Organization (WHO), approximately 8.2 mn deaths that took place in 2012 were caused due to cancer. The increasing proliferation of novel approaches and personalized medicines’ growing demand are amongst the prime factors providing impetus to the global Cancer Therapeutics and Biotherapeutics Market. In addition to the chemotherapy market, this market is also dominated by biotherapy, which has come up as a new approach in the treatment of cancer. Biotherapy positively impacts the immune system of the human body and impedes or slows down the development of cancer cells. It includes kinases, interferons or interleukin, and monoclonal antibodies.
This study present a detailed evaluation of the cancer therapeutics and biotherapeutics market and presents quantitative evaluation of current market scenario. The factors fuelling and inhibiting the development of this market have also been collated under this report. The trends seen in the dominant regions will aid companies in planning their strategies accordingly. The report also encapsulates the late stage development and the currently marketed cancer products.
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The list of products in development stage and the present trends and issues impacting the cancer therapeutics and biotherapeutics market have also been presented. The report also encapsulates an extensive mapping of the competitive landscape of the market incorporating the behavior of market participants. Analysis tools such as Porter’s five forces model, etc. have also been incorporated in order to present the competition present in the cancer therapeutics and biotherapeutics market.
The global cancer therapeutics and biotherapeutics market is fuelled by the introduction of products such as gemcitabin, oxaliplatin, and pemetrexed. In addition, the new applications’ approval for the utilization of these products will positively impact the development of the market. Furthermore, the increasing investments from key players in this market and their increasing focus on lowering the side effects caused by traditional methods of treatment will stimulate the development of this market.
The rising count of favorable policies introduced by governments globally toward proper screening, diagnosis, and treatment of cancer will also work in favor of the growth of the overall market. Additionally, the presence of better research and development activities will positively impact the growth of the cancer therapeutics and biotherapeutics market. The increasing occurrence of different types of cancer and the increasing proliferation of new players in this market are predicted to bring in new growth opportunities in the global cancer therapeutics and biotherapeutics market. The introduction of advanced methods of treatment will also provide impetus to the growth of this market. On the other hand, the growing side of effects of traditional treatment technology such as chemotherapy may inhibit the development of this market in the coming years.
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On the basis of geography, the report categorizes the global cancer therapeutics and biotherapeutics market into North America, Asia Pacific, Europe, and Rest of the World (RoW). The top players in this market are Bristol-Myers Squibb Company, AstraZeneca plc, Eli Lilly & Company, Merck & Company Inc., Johnson & Johnson, Novartis AG, Roche, Pfizer Inc., and Sanofi, among others.