The global market for biologic cancer treatment is expected to reach $66.4 billion in 2019
Wellesley, Mass. (PRWEB) March 24, 2015
Wellesley, Mass., March 24, 2015 – BCC Research (http://www.bccresearch.com) reveals in its new report on biologic cancer treatment that access and affordability of cancer treatment options in various countries, along with a rise in the number of cancer incidences due to better diagnostic approaches, will stimulate growth in the global cancer therapeutic market.
According to the American Cancer Society (ACS), 50% of men and 30% of women will develop some form of cancer in their lifetimes. These rates are expected to rise to epidemic proportions within the next 10 years due to environmental factors, lifestyle choices and an aging population. In fact, cancer is the second-leading cause of death in the industrialized nations after heart disease. The World Health Organization (WHO) predicts that global cancer incidence will rise to 17 million new cases by 2020, an increase of 50% over the 2005 rate.
The market for innovative biological therapies in cancer treatment reached more than $51 billion in 2014. Newer biotherapeutics have emerged in the past few years that have had significant impacts on cancer treatment and healthcare. Biological therapies in cancer treatment will nearly double in the next five years and reach more than $66 billion by 2019.
“As newer drugs come into the market, the demand for better and more innovative oncology drugs will grow, as global healthcare systems will place more focus on cancer detection and treatment,” says BCC Research analyst Usha Nagavarapu. “Drug resistance by cancer cells is currently a serious problem that may lead to recurrence of disease or even death. This has become a huge issue and a burden to patients, healthcare providers, drug developers and society. New and innovative cancer treatment opportunities offer solutions, which will probably be based on the use of several drugs in combination.”
Biosimilars will be a huge market driver in the coming years. Biologic drugs have multibillion-dollar annual sales, are very expensive and are priced higher when compared to small molecules and other treatment options. Pharmaceutical companies are acquiring early-stage biotechnology companies, and the licensing of technology and late-stage projects in development has increased significantly. Biosimilars are entering an important period of development, and it is anticipated that the market will evolve from 2014 to 2024 along with many new players in the biological cancer drug space.
Biological Therapies for Cancer: Technologies and Global Markets provides a detailed overview and thorough analysis of the present and future global market for cancer biotherapeutics. It includes products in this market, as well as detailed analyses of markets and competitive environments, cancer markets in newly emerging therapeutics, and biosimilars and their impact on the market.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
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