The cancer biological therapy market is expected to witness significant growth by 2027 primarily driven by increasing R&D efforts across the sector.

Cancer and other lifestyle-induced chronic health concerns are on the rise globally. Moreover, with the ongoing COVID-19 pandemic, the focus on chronic and acute diseases has escalated amongst both medical professionals and patients. As a result, research efforts for the advancement of cancer biological therapy are gaining momentum worldwide, thereby propelling revenue growth.

Despite the COVID-19 outbreak, the immuno-oncology category has continued to grow rapidly, with several pre-clinical and clinical breakthroughs taking place during the pandemic. Furthermore, serious side-effects associated with standard cancer treatment involving chemotherapy have triggered elaborate research efforts towards the progress of biological therapy, which essentially includes immunotherapy. Thus, surging demand for advanced therapeutic techniques, along with latest advancements in biological therapies, has driven market development in key regions.

Notably, cancer immunotherapy has been shown to provide long-lasting responses in multiple types of cancer. Even in late stages of the disease, antigen-specific immune responses can be quite potent. Antitumor vaccinations and oncolytic viruses (OVs) are types of biological therapy that have been developed in recent decades. These therapies are physiological and well tolerated, which has augmented product demand worldwide

Additionally, as per an October 2020 study published in Cell, Tumor Neoantigen Selection Alliance (TESLA), a neoantigen initiative coordinated by the Parker Institute for Cancer Immunotherapy and Cancer Research Institute, could potentially help locate neoantigens that indicate the existence of malignant cells and eradicate them with minimum side effects. Subsequently, soaring development of effective biological therapies for cancer has played a vital role in impelling business adoption.

Recently, industry players have been expanding their presence in leading regions in order to improve their market standing, which has positively influenced business outlook. To that effect, in June 2021, Amgen, a key player in the biotech industry, announced its plans to invest USD 365 Million towards building a ???smart factory' in Ohio. The new facility was intended to incorporate elaborate assembly and packaging capabilities for distribution of medicines in the United States.

For extensive analysis, the cancer biological therapy market has been bifurcated based on product, route of administration, and region. The product segment has further been divided into monoclonal antibodies (MAB), cancer growth blockers, vaccines, blood cell growth factors (BCGF), and cytokines.

The cytokines sub-segment is estimated to surpass a valuation of USD 20.9 billion by 2027, expanding at a steady pace over the assessment timeframe. Cytokines are touted as a natural alternative to conventional treatment methods for cancer, which is anticipated to bolster segmental growth in the coming years.

With respect to route of administration, the market has been segregated into oral and injectable. The oral sub-segment is calculated to exhibit robust growth at a CAGR of around 7.3% through the forecast timeline.

From the regional point of view, Latin America accounted for about 8.6% of the cancer biological therapy market in 2020 and is projected to observe notable growth over 2021-2027. Meanwhile, the Middle East and Africa cancer biological therapy market is expected to grow at above 7.9% CAGR through the forecast period.