The global follow-on biologics market is gaining momentum as a response to the expiry of a number of patents on key biologicals and growing consumer demand for cost-effective biologicals treatment. Even though Europe has led the regulatory process for enhancing the availability of follow-on biologics, approvals in the U.S. for biologicals have lagged behind those in the international community.
The research report maps all the crucial aspects of the biologicals in oncology market. It covers market projections, prominent industry trends, and market drivers and restraints of biologicals. In addition, the report provides a snapshot of the research and development activities in the biologicals in oncology market. These R&D projects will influence the biologicals markets significantly and will set the pace of the market during the forecast period of 2013 to 2019.
Overview of the global biologicals in oncology market
The global biological drugs market is estimated to be worth US$287,139.7 million by the end of 2020. North America leads the biologicals in oncology market, followed by Europe and Asia Pacific. The primary driver of the biologicals in oncology market is increasing government support to improve healthcare conditions. Among the registered therapies of biologicals in oncology, vaccine therapy, and monoclonal antibodies therapy generate the major chunk of revenue, as they increase the chances of uptake of cancerous tissue.
Biologicals to treat cancer involve bacteria or vaccines which stimulate the body’s defense response against cancer cells. The biologicals in oncology industry is segmented according to the type of biological, development state, and pathway mapping used for cancer therapy investigation. In the coming years, the biologicals in oncology market will experience rapid growth as the prevalence of the cancer accelerates worldwide.
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However, the major inhibitor for the market is the fear of side effects of the biological drugs treatment. According to cancer.gov, the side effects associated with various biological therapies can differ according to the treatment types. Some of these include pain, swelling, redness, soreness, itchiness, and rashes at the site of injection.
Companies mentioned in the research report
Over 880 enterprises with their partners are involved in developing approximately 1,500 drugs in research and development projects to treat 132 cancer types. Some of the companies and institutes that are involved in clinical trials and manufacturing of biologicals are F. Hoffmann – La Roche, Limited, Astex Therapeutics, Prometheus Therapeutics and Diagnostics, Merck and Company, Northwest Biotherapeutics, Immunovative Therapies, The University of Bologna Medical School, NewLink Genetics Corporations, Rui Jin Hospital, National Institute of Mental Health, Hadassah University Hospital, and Peking University People’s Hospital.
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