The cancer biologics market comprises of various biopharmaceuticals used for the treatment and diagnosis of cancer. Developments in biologic therapies including monoclonal antibodies, vaccines, cell and gene therapy have revolutionized cancer care over the past few decades.
Biologics have emerged as an effective therapeutic approach with novel mechanisms to precisely target cancer cells while sparing healthy tissues. Growing cancer incidence globally along with increasing focused on targeted therapy has accelerated the demand for biologic drugs and diagnostics. Key Takeaways Key players operating in the cancer biologics market include F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Danaher Corporation, Qiagen N.V., PerkinElmer, Inc., Illumina, Inc. and Merck KGaA. These players dominating the market with their wide product portfolio and global presence. The rising global Cancer Biologics Market Share burden accompanied with growing health awareness among population has boosted the demand for advanced cancer treatment options including biologics. According to WHO, cancer cases are expected to rise by over 70% in next two decades. This growing incidence of cancer worldwide represents significant market opportunity. In addition, these key biotech companies are expanding their presence in emerging markets of Asia Pacific, Middle East, and Latin America through partnerships and acquisitions. For instance, Roche is expanding its cancer research facility in Shanghai. This global expansion aims to tap the potential of untapped markets. Market key trends Personalized medicine enabled by advances in bioinformatics and genomic profiling is gaining momentum in the cancer biologics domain. Combination of cancer biomarkers, liquid biopsy and immunotherapies are enabling delivery of right treatment to right patient. This trend towards precision oncology represents a key growth driver as it improves clinical outcomes and quality of life.
Porter’s Analysis Threat of new entrants: High capital requirements and costs involved in R&D pose significant entry barriers.
Bargaining power of buyers: Presence of large healthcare providers and government organizations give buyers higher bargaining power.
Bargaining power of suppliers: Suppliers of raw materials and manufacturing capabilities possess some bargaining power given the importance of their roles.
Threat of new substitutes: Other treatment options like chemotherapy, targeted drug therapy and immunotherapy pose threats of substitution.
Competitive rivalry: Intense competition among existing Cancer Biologics Companies to develop new biological drugs and combination therapies. Geographical Regions North America holds the largest share of the cancer biologics market currently, higher healthcare expenditure and increased adoption of advanced therapies. Asia Pacific is poised to be the fastest growing regional market between 2024-2031 with a CAGR of 10.1% on account of rising incidence of cancer, improving access to healthcare facilities and expanding medical tourism industry in countries like China, India and South Korea.
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