The global cancer therapeutics and biotherapeutics market is expected to witness strong growth during the forecast period between 2021 and 2031.
Wilmington, Delaware, United States, Transparency Market Research Inc. – The global cancer therapeutics and biotherapeutics market is expected to witness strong growth during the forecast period between 2021 and 2031.
Cancer therapeutics refers to the correct use and administration of chemotherapy and oncology drugs for the treatment of cancer.
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Biotherapeutics has developed into one of the most promising approaches in cancer treatment. A benefit of using biotherapeutics is it helps improve the natural tendency of the body to protect itself against the malignant tumor, without affecting the healthy tissues in the body.
Cancer Therapeutics and Biotherapeutics Market -Trends & Opportunities
Rise in cancer prevalence and increase in cancer research are the key growth drivers for the global cancer therapeutics and biotherapeutics market.
Also, an increase in collaborations between pharmaceutical companies has bolstered the growth in the cancer therapeutics and biotherapeutics market.
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In addition to this, a rise in the geriatric population around the world has driven the growth in the cancer therapeutics and biotherapeutics market. This factor is expected to positively impact the cancer therapeutics and biotherapeutics market in future, as well.
Advancements to cancer treatment methods could also propel the cancer therapeutics and biotherapeutics market, in the years ahead.
Also, an increasing number of government regulations and policies worldwide supporting correct screening, diagnosis, and treatment of cancer is expected to fuel the growth in the cancer therapeutics and biotherapeutics market in future.
The chemotherapy segment is expected to make the largest contribution to the overall cancer therapeutics and biotherapeutics market, in the next few years.
Hospitals and clinics end-use segment is expected to contribute the most to the growth of the cancer therapeutics and biotherapeutics market, in the years to come.
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Cancer Therapeutics and Biotherapeutics Market - Competitive Landscape
The global cancer therapeutics and biotherapeutics market is highly competitive, with the presence of several well-established players, many of whom are expected to hold a large share in the overall market, in the coming years.
The smaller players in the cancer therapeutics and biotherapeutics market could adopt different strategies in a bid to remain competitive in the overall market.
Research and development undertakings could be key to the growth of the cancer therapeutics and biotherapeutics market players in the years ahead.
Leading cancer therapeutics and biotherapeutics market players could establish R&D centers in different parts of the world, in the coming years.
Some of the key players in the cancer therapeutics and biotherapeutics market include Johnson & Johnson, Pfizer Inc., Novartis AG, Bristol-Myers Squibb Company, Celgene Corporation, and Astelles Pharma Inc.
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Cancer Therapeutics and Biotherapeutics Market - Regional Assessment
The global cancer therapeutics and biotherapeutics market is divided into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
North America is expected to be the leader in the global cancer therapeutics and biotherapeutics market in the coming years. The presence of leading players in countries such as the U.S and Canada and increased adoption of cancer therapeutics in these countries are expected to drive the growth in the cancer therapeutics and biotherapeutics market.
Asia Pacific is expected to stand second in the global cancer therapeutics and biotherapeutics market, owing to an increase in awareness about cancer therapeutics in countries such as India and China and substantial investments in research and development activities, in the region.
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Leading players in the cancer therapeutics and biotherapeutics market may look to establish R&D centers in countries such as India in future.
Other regions such as Europe, Middle East and Africa, and Latin America are expected to witness moderate growth in the cancer therapeutics and biotherapeutics market, in future, owing to the lack of well-established market players in the regions.
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