Americas Cancer Biological Therapy Market Overview
Cancer is defined as the uncontrolled growth of infected cells. It is a deadly disease and is the second most prevalent cause of death in the world. During cancer, the cells grow in an abnormal manner to quickly spread across other parts of the body. There are more than 100 different types of cancer conditions that can affect the human body. Biological therapies involve the usage of living organisms for the treatment of a particular disease. Such therapies consist of vaccines, monoclonal antibodies, interferons, and many more. Biological therapy is used for treating and potentially curing cancer. However, there are many different therapies available in the market for the treatment of cancer but none of them boast the capability to assure the cure of cancer.
Prevalence of cancer over the years has played a key role in influencing the Americas cancer biological therapy market growth. Major factors influencing a positive growth upon the market are the increasing patient pool but limited therapy options, increasing demand for biological treatments, and the evolving lifestyle of individuals. Additionally, growing investment centered around oncology research coupled with advancements in technology in treatment of cancer is expected to further ameliorate the overall market of cancer biological therapy. The Americas Cancer Biological Therapy market is expected to reach USD 104788.96 Million by 2030 at 7.20% CAGR during the forecast period 2022-2030.
The latest research conducted by Market Research Future reports that the rising expenditure in healthcare and awareness concerning advanced and effective forms of cancer therapies, and growing support from the government for cancer therapies are all expected to accelerate the growth of the market. The report further projects that the Americas cancer biological therapy market will garner a CAGR of 5.2% during the forecast period. However, it is also noted that the adverse effects of anti-cancer drugs and the high cost of treatments can hamper the Americas cancer biological therapy market growth.
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Market Segmentation
The Americas cancer biological therapy market segmentation is classified on the basis of types, end-user, and region.
By types, the market includes cancer growth, gene therapy, interferons, targeted therapy, monoclonal, colony-stimulating factors, interleukins, cancer vaccines and others. The cancer growth inhibitors segment narrows down into mTOR inhibitors, Tyrosine kinase inhibitors, and Proteasome inhibitors. While monoclonal antibodies segment breaks down into conjugated monoclonal antibodies, naked monoclonal antibodies, and others.
By region, the market covers Canada, US, and the Rest of America.
By end-user, the market comprises of cancer research centers, hospitals clinics, laboratories, and others.
Competitive Landscape
The Americas cancer biological therapy market comprises of various leading companies. This includes names such as Novartis International AG, Hoffmann-La Roche AG, Amgen Inc., GlaxoSmithKline Plc, Eli Lilly, Bristol-Myers Squibb, GSK, Seattle Genetics, Inc., Merck Co., Inc., Celgene Corporation, Spectrum Pharmaceuticals, Inc., and others. The players operating in the cancer biological therapy sector primarily tend their focus on executing various strategic initiatives including product launch, mergers, and acquisition to further cement their positioning in the market and edge past their competition.
April 3rd, 2019, a study undertaken by the Columbia University, in collaboration with Nimbus Therapeutics, revealed the 3D-structure of human metabolic enzyme ACLY, aka ATP-citrate lyase. This plays an integral role in the proliferation of cancer cells and other cellular processes.
Regional Analysis
As per the regional analysis of the Americas cancer biological therapy market, both Canada and the US lead the chart as the most dominant regions. This is primarily due to the advancement in technology herein and the availability of funding for the development of new treatment and therapeutics. Additionally, the increasing pool of cancer patient is also steering the market growth for cancer biologic therapy in the Americas region.
The US stretches past Canada as the leader in the Americas cancer biological therapy market. The region garners a high revenue towards its side due to the increasing prevalence of cancer in the nation. The changing lifestyle scenario like consumption of alcohol and tobacco and unhealthy eating habits increase the chances of cancer prevalence, thereby expanding the market further in this region. Add to this, rising awareness among individuals concerning the availability of effective cancer therapies and growing expenditure in healthcare in the country is further expected to boost the growth of the regional market.
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