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The global market for biological therapies for cancer was worth $37.9 billion in 2009. This number is expected to increase at a compound annual growth rate (CAGR) of 7.2% to reach $53.7 billion in 2014. The U.S. sales for biological therapies for cancer was worth slightly half of the global market in 2009 at $17.7 billion. Sales in the US were expected to grow at slightly under the global average, with a CAGR of 6.2%, attaining $23.9 billion in 2014.
Thus in Europe and other world markets, biological therapies for cancer achieved $15.6 billion in sales in 2009. With a CAGR of 7.8%, these markets are predicted to fetch $22.8 billion in sales in 2014.
The diagnosis of cancer is increasing worldwide. Meanwhile there is growing access to treatments in hitherto undeveloped markets. XBiotech believes that affordable cutting-edge treatment regimes will find massive new markets in developing countries, ushering in an era of significant growth for these products in world markets.
According to the American Cancer Society, cancer is the second-leading cause of death in the United States. Fifty percent of men and thirty percent of women will develop some form of cancer in their lifetime. The market for biological therapies in cancer treatment in the US is expected to nearly double over the next 7 years. XBiotech believes that these sales will come from safer, innovative therapies that put less financial burden on insurers and individual consumers.
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