Biotech Innovations Surge as Global Cancer Diagnosis Rates Continue to Climb
USA News Group Commentary
Issued on behalf of Oncolytics Biotech Inc.
VANCOUVER, BC, May 9, 2024 /PRNewswire/ — In the fight against cancer, a political stumbling block was recently put in place by the US Congress after it voted against the renewal of funding for President Biden’s “Cancer Moon Shot” designed to advance cancer research towards a cure. The need for solutions is mounting, as health authorities, on behalf of the United Nations, are predicting global cancer cases to rise around 77% by 2050, with richer countries expected to have the greatest absolute increase in cancer. As analysts from Custom Market Insights forecast the global cancer immunotherapy market to soar to US$314.4 billion by 2032, expanding at a 7.2% CAGR, the biotech sector continues to advance cancer treatment and diagnostics, with recent updates coming from Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX:ONC), Candel Therapeutics, Inc. (NASDAQ: CADL), AstraZeneca PLC (NASDAQ: AZN), Halozyme Therapeutics, Inc. (NASDAQ: HALO), and Janux Therapeutics, Inc. (NASDAQ: JANX).