Cancer vaccines of Cancer Biological Therapy Market to see growth of 17.2% by 2023

Cancer vaccines market is anticipated to grow at 17.2% CAGR over the forecast timeframe. Preventive vaccines for HBV and HPV stimulates the production of antibodies that binds to microbes thus blocking their ability to cause infection. Global Market Insights, Inc. says Cancer Biological Therapy Market is estimated to cross USD 100 billion mark by 2023, by attaining a growth rate of 6% over 2016-2023.

Cancer is becoming a leading cause of death on a global scale, owing to which cancer biological therapy market has witnessed a significant surge over the recent years. According to WHO, over 14 million new cases and 8.2 million cancer related deaths was recorded in 2012. Furthermore, WHO also estimated new cancer cases to raise by 70% over the next two decades. Tobacco consumption is considered as the most prominent risk factor stimulating the cancer occurrence in people.

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The growing geriatric population is more prone to cancer as per the statistics documented by ACS. Individuals aged 50 and above accounted for more than 86% of cases in the US. As per the reports, In US, more than 246,660 breast cancer cases and 180,890 prostate cancer cases had been diagnosed in 2016. This has considerably surged the global cancer biological therapy market share which was worth USD 61.3 billion in 2015.

Browse key industry insights spread across 90 pages with 60 market data tables & 47 figures & charts from this 2017 report Cancer Biological Therapy Market in detail along with the table of contents at:

https://www.gminsights.com/industry-analysis/cancer-biological-therapy-market

Cancer biological therapy uses the body’s immune system to fight cancer or to lessen the side effects. Cancer vaccines & monoclonal antibodies are among the most promising biological approaches toward cancer treatments. The antibody therapy has by far been the most thriving approach for the treatment of solid tumors and hematological malignancies. Over the period of 2016-2023, the bispecific monoclonal antibodies market is projected to grow at an annual rate of 6.5%, thereby fueling cancer biological therapy industry growth. The cancer vaccines market is also projected to grow at an annual rate of 17.2% over 2016-2023.

Japan contributes a major share in the Asia Pacific cancer biological therapy industry, subject to high prevalence of cancer in growing geriatric population base. The region covered more than 40% of overall APAC revenue share in 2015. Furthermore, China is also set to provide huge growth potential for cancer biological therapy market with favorable government policies and investment in R&D to innovate novel treatments. Strong governmental support and beneficial reimbursement policies will attract huge investments by the industry players to advance the manufacturing capabilities.

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North America cancer biological therapy market is driven by a considerable increase in local and private funds for research and development activities. U.S. was the leading country accounting for more than 80% of North American revenue generation in 2015. Germany cancer biological therapy industry acquired a major revenue chunk of the overall Europe market in 2015. Favorable insurance policies in the region are expected to boost the industry share over the coming years.

Company players are majorly focusing on developing various innovative products with minimal side effects. Prominent companies are targeting on the invention of novel drugs to sustain their market positions. Encouraging governmental initiatives and funding have further created new growth avenues for the industry participants. Some of the key cancer biological therapy industry players include Bristol-Myers Squibb, Eli Lilly, Celgene Corporation, Seattle Genetics, Inc., Amgen Inc., GlaxoSmithKline Plc, Novartis International Ag, F. Hoffmann-La Roche AG, Spectrum Pharmaceuticals, Inc., and Merck & Co., Inc.

Browse Related Reports:

Cancer Gene Therapy Market Size By Type [Gene Induced Immunotherapy (Cytokine Gene Delivery, Tumor Antigen Gene Delivery), Oncolytic Virotherapy (Adenoviruses, Lentiviruses, Retrovirus, Adeno Associated Virus, Herpes Simplex Virus, Alphavirus, Vaccinia Virus, Simian Virus), Gene Transfer/Gene Replacement (Naked/Plasmid Vectors, Electroporation, Sonoporation, Magnetofection, Gene Gun)], Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, China, Japan, Mexico, Brazil, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

https://www.gminsights.com/industry-analysis/cancer-gene-therapy-market

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