Cancer Therapeutics and Biotherapeutics Market Size, Report 2032

Published Date : 14 Mar 2024

The global cancer therapeutics and biotherapeutics market size was exhibited at USD 183.43 billion in 2023 and is anticipated to touch around USD 379.07 billion by 2032, expanding at a CAGR of 8.40% during the forecast period from 2023 to 2032.

Cancer Therapeutics and Biotherapeutics Market Size and Growth Rate From 2023 to 2032

Market Overview

The cancer therapeutics and biotherapeutics market is a highly specialized sector of the healthcare industry that deals with the development, production, and distribution of treatments for cancer. This market encompasses both traditional therapeutics, such as chemotherapy, radiation therapy, and surgery, as well as biotherapeutics, which are biological substances or products derived from living organisms, including monoclonal antibodies, cytokines, vaccines, and cell-based therapies. The focus of this market is to provide effective and safe treatments for cancer patients using the latest advancements in medical technology and research.

The cancer therapeutics and biotherapeutics market is experiencing significant growth due to various factors that are driving innovation and investment in the fight against cancer. One of the key growth drivers is the continuous progress in biotechnology, which has facilitated the development of targeted and personalized treatment options. These advanced therapies, such as monoclonal antibodies and cell-based immunotherapies, provide new opportunities for effectively combating cancer while reducing the adverse effects. Advancements in biotechnology are paving the way for more precise and effective cancer treatments.

  • In December 2023, Kimia, a spinoff of Carmot Therapeutics, raised $55 million. The funding will be used to advance the development of the company's drug discovery platform, which uses synthetic chemistry and machine learning to identify new small-molecule drugs. Meanwhile, Lassen Therapeutics has secured funding for its fibro-inflammatory mission, with the amount undisclosed.

Regional Snapshot

North America dominates the global cancer therapeutics and biotherapeutics market due to its thriving ecosystem of pharmaceutical and biotechnology companies, top-notch research institutions, and favorable regulatory framework. The region is at the forefront of developing and adopting cutting-edge cancer therapies, making significant contributions to the progress of oncology care on a global scale.

The region's dominance can be attributed to several factors. Firstly, North America has a high incidence of cancer and a large patient population, which drives the demand for advanced treatment options. Furthermore, North America benefits from substantial investments in healthcare research and development, with government funding, private investments, and academic collaborations fueling innovation in cancer therapeutics and biotherapeutics.

Asia Pacific is currently experiencing the fastest-growing cancer therapeutics and biotherapeutics market. This growth is being driven by factors such as an expanding healthcare infrastructure, an increasing incidence of cancer, and a growing population. The prevalence of cancer in Asia is rising due to several reasons, including changing lifestyles, environmental factors, and aging populations. The increasing demand for advanced therapeutics and biotherapeutics has led to significant innovation and investments in oncology care. The growing cancer burden in Asia presents an opportunity for the development and introduction of effective treatment options.

Cancer Therapeutics and Biotherapeutics Market Report Scope

Report Coverage Details
Market Revenue in 2023 USD 183.43 Billion
Projected Forecast Revenue by 2032 USD 379.07 Billion
Growth Rate from 2023 to 2032 CAGR of 8.40%
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Market Dynamics


Government initiatives and funding

Governments worldwide have been placing significant emphasis on cancer research and treatment. There has been a substantial increase in funding for innovative therapies and infrastructure for cancer patients in recent years. This has fostered increased collaboration between academia, industry, and regulatory bodies, which has, in turn, expedited the pace of drug discovery and development.

  • In April 2023, TORL BioTherapeutics, a cancer-focused biopharmaceutical company, launched a funding of $158M. The company aims to develop innovative treatments for cancer by leveraging advanced biotechnology and drug discovery tools. With this substantial investment, TORL BioTherapeutics is poised to make significant strides in the fight against cancer.

Advancements in biotechnology

The convergence of biotechnology and cancer research has opened new avenues for the discovery of innovative therapeutic and biotherapeutic strategies. These cutting-edge treatments offer a personalized and precise approach to tackling cancer, enabling the customization of treatments based on the unique characteristics of each patient's cancer. By harnessing the potential of biotechnology, researchers have developed novel and advanced techniques for early detection, accurate diagnosis, and effective treatment of disease. These breakthroughs represent a significant leap forward in the fight against cancer, providing patients with more robust and individualized treatment options than ever before.


High cost of treatment

Cancer treatment has benefited greatly from advancements in therapy. However, despite these advancements, the high cost of biologics and biotherapeutics remains a significant barrier to the cancer therapeutics and biotherapeutics market. This is particularly true for patients with inadequate insurance coverage, making it challenging to achieve affordable and equitable healthcare access. In some regions, there may be limited insurance coverage for these treatments, further exacerbating the issue. As a result, many patients are unable to access potentially life-saving therapies, which could have a significant impact on their quality of life and chances of survival.


Technological innovations

Recent advancements in cancer treatment have been centered around cutting-edge technologies like immunotherapy, gene editing, and targeted drug delivery systems. These innovative treatments have led to new frontiers in cancer research and have brought renewed hope to patients and their families in the fight against the disease. Collaborations between academic institutions, industry partners, and technology providers have been crucial in driving innovation in cancer treatment. By pooling resources and expertise, these collaborations have paved the way for developing next-generation therapeutics that are more effective, less invasive, and provide better outcomes for patients. More technological advancements will boost the growth of the cancer therapeutics and biotherapeutics market in the future.

Precision medicine

The field of genomics and molecular diagnostics has ushered in a new era of precision medicine in the cancer therapeutics and biotherapeutics market. This approach involves analyzing individual genetic profiles to design personalized therapies that are not only more effective but also less toxic than conventional treatments. By leveraging this information, medical professionals can develop tailored treatments that target cancer cells with greater accuracy. This groundbreaking approach to cancer care has seen significant growth in the cancer therapeutics and biotherapeutics market and is expected to revolutionize the way we approach cancer treatment in the future.

Recent Development

  • In January 2023, Bridge Biotherapeutics and Pinotbio announced a strategic collaboration to develop novel cancer therapeutics using Antibody-Drug Conjugates (ADCs). ADCs are highly targeted, precision medicines that combine the specificity of monoclonal antibodies with the cytotoxicity of chemotherapeutic agents. This collaboration aims to leverage the unique capabilities of both companies to accelerate the development of next-generation ADCs with improved efficacy, safety, and tolerability for the treatment of cancer.
  • In June 2023, Cambrian Bio, a biotechnology company, launched Telos Biotech, a new subsidiary aimed at developing advanced cell therapies. The company aims to leverage its expertise in cell biology and genome engineering to create more robust and effective cell therapies that can address a wide range of diseases and conditions.

Major Key Players

  • Amgen Inc.
  • Bristol-Myers Squibb
  • Celgene Corporation
  • ELI Lilly and Company
  • Hoffmann-La Roche AG
  • EnGeneIC Ltd
  • Merck & Co Inc.
  • Novartis
  • Pfizer Inc.
  • Johnson & Johnson

Market Segmentation

By Application

  • Blood Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Prostate Cancer
  • Breast Cancer
  • Cervical Cancer
  • Head and Neck Cancer
  • Giloblastoma
  • Malignant Meningioma
  • Mesothelioma
  • Melanoma
  • Others

By Top Selling Drugs

  • Revlimid
  • Avastin
  • Herceptin
  • Rituxan
  • Opdivo
  • Gleevec
  • Velcade
  • Imbruvica
  • Ibrance
  • Zytiga
  • Alimta
  • Xtandi
  • Tarceva
  • Perjeta
  • Termodar
  • Others

By Product Type

  • Chemotherapy
  • Radiation Therapy
  • Hormone Therapy
  • Biotherapy
  • Others

By End User

  • Consumption (Sales)
  • Household
  • Hospital

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