Global Market of Biological Therapies for Cancer to Be Worth $54 Billion In 2014
The global market value of biological therapies for cancer was an estimated $37.8 billion in 2009, but is expected to increase to $53.8 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 7.2%.
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Global Biological Treatment for Cancer: Market by Region through 2014
-- According to a new technical market research report, Biological Therapies for Cancer: Technologies and Global Markets (BIO048B) from BCC Research (www.bccresearch.com), the global market value of biological therapies for cancer was an estimated $37.8 billion in 2009, but is expected to increase to $53.8 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 7.2%.
The largest segment by region, the U.S. market, is expected to increase at a 5-year CAGR of 6.2%, from $17.7 billion in 2009 to nearly $24 billion in 2014.
The second-largest segment, the Europe/ROW (EU5 - France, Germany, Italy, Spain, and the UK, with some sales included from the rest of the world), is expected to reach nearly $23 billion in 2014. The market in 2009 was estimated to be $15.6 billion. Thus, the 5-year CAGR is projected to be 7.8%.
The third-largest segment, Japan, is expected to increase in value from an estimated $1.4 billion in 2009 to nearly $1.9 billion in 2014, for a 5-year CAGR of 5.8%.
The Others segment is projected to increase from an estimated $3.1 billion in 2009 to $5.2 billion in 2014, for the highest 5-year CAGR, 10.6%.
Access and affordability of cancer treatment regimes in developing countries along with a rise in the number of cancer diagnoses will stimulate growth in the world cancer therapies market. Cancer is the second-leading cause of death in the U.S. and, according to the American Cancer Society, 50% of men and 30% of women will develop some form of cancer in their lifetime.
The demand for newer and innovative oncology drugs will continue to grow as healthcare systems worldwide emphasize cancer detection and treatment. This report covers the current market status of cancer biotherapeutics, strengths, weaknesses, various cancer biotherapeutics already on the market, major issues involved in the research and development of more effective cancer therapeutics, and new cancer therapeutics in development and in clinical trials.
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