Overview:
With a millennia-old history, cancer is one of the most daunting diseases to cause death. And the battle against has gone past the nascent stage recently with treatments such as cancer biological therapy. The cancer biological therapy market is gaining fast traction in sync with the increasing expenditure in the research and development sector. From a molecular purview, cancer is a genetic disease where genes mutating in somatic cells spur the development. With the advancements made in molecular oncology, researchers have realized that preventive strategies can be taken to treat the metastases. The availability of human genome sequence has facilitated genomic and proteomic approaches which have provided a sea of information. This has also given birth to cancer biological therapy which uses living organism substances from either living organisms or artificial variations to treat cancer. It is comprised of interleukins, interferons, monoclonal antibodies, vaccines, and others. By using the body’s immune system, biological cancer therapy aims to fight cancer. All these developments are showcasing a promising future for the biological cancer therapy market.
The Europe and the Middle East & Africa (EMEA) biological cancer therapy market is expecting an impressive 5% CAGR during the forecast period (2016-2021) and can reach a valuation of $29,776.3 million. The report published by Market Research Future has an all-encompassing reckoning of the segments and driving factors that can leverage the biological cancer therapy market in the coming years.
Major factors to influence the expansion of the global cancer biological therapy market includes a large patient pool, and the number is constantly rising. Among the others, impacts of biosimilars and targeted drug therapy have filled both patients and researchers with a new line of hope of finding a longstanding cure for the diseases. At the same time, continuous patent expiry of cancer drugs is spurring the demand for further innovations which is pushing the cancer biological therapy market forward. But the cost associated with the treatment is often so overwhelming that patients fail to afford that which can cause a slight disruption in the expected EMEA cancer biological therapy market growth rate during the forecast period.
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Segmentation:
The EMEA cancer biological therapy market can be segmented based on type, and end-users.
Based on types, the cancer biological therapy market can be segmented into monoclonal antibodies, interferons, interleukins, cancer growth inhibitors, gene therapy, colony-stimulating factors, targeted therapy, cancer vaccines, and others.
Based on end-users, the cancer biological therapy market is segmented into hospitals & clinics, cancer research centers, laboratories, and others.
Regional Analysis:
Region-specific analysis of the EMEA cancer biological therapy market has its focus on Europe and the Middle East & Africa.
Europe is by far has the superior market due to the huge investments made in the field to find a cure for cancer. It has sway over 77.2% of the entire market. The cancer biology therapy market in the region is expecting a growth of 5.2% CAGR during the forecast period and reach a valuation of USD 23,248.3 million by 2021.
The Middle East cancer biological therapy market includes Qatar, UAE, Kuwait, Bahrain, Oman, Saudi Arabia, and the rest of the Middle East. Reports suggest that the region is going to be steady with a CAGR of 4.3% and reach a valuation of USD 6528 million during the review period.
Competitive Insights:
Some of the key players in the EMEA cancer biological therapy market are Amgen Inc., Bristol-Myers Squibb, Celgene Corporation, Eli Lilly & Company, Engeneic Ltd, F. Hoffmann-La Roche Ag, Merck & Co., Inc., Novartis, Pfizer Inc., Seattle Genetics, Inc., Teva Pharmaceutical Industries Ltd, and others. The EMEA cancer biological therapy market is expecting growth from strategic moves made by leading companies that often include merger, acquisition, and other methods.
In April 2018, Teva Pharmaceutical Industries Ltd and Procter & Gamble decided to terminate their strategic partnership to explore the African and Asian market. As per their views, the two companies have different priorities now which is creating a fissure in their applicational interests.
In September 2018, Cancer Genetics, Inc., a leader in manufacturing precision medicine for immuno-oncology and genomic medicine and NovellusDx, Ltd., a leader in functional genomics, decided to sign a merger plan which will boost the therapeutic cancer treatment.
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