Description

The primary drivers of the cancer biotech industry are continuous advancements in scientific research and development, the increasing prevalence of cancer worldwide, and a need for more effective and personalized treatments. Significant scientific breakthroughs in genomics and the understanding of cancer cell biology have propelled innovation in bioengineering techniques, like gene and cell therapies, paving the way for novel biotech cancer treatments. Additionally, an ageing global population, coupled with changing lifestyles, have increased cancer incidences, thereby boosting demand for efficient cancer therapies. Consequently, key subcategories within this theme encompass oncogene research, immunotherapy, targeted therapy, and stem cell research. Increased funding for biotech startups, government and regulatory support for cancer research, as well as strategic collaborations and acquisitions, are other factors driving this industry's growth and innovation.