Global Cancer Immunotherapy Market Current Trends, Research Analysis and Projections For 2018-2028
Immunotherapy, also known as biologic therapy, is used in treatment of cancer by increasing immunity. It is effective for treatment of some types of cancers such as lung, leukaemia, malignant melanoma, and others. This type of treatment stops or slows down growth of cancer cells in the body. Monoclonal antibodies, oncolytic virus therapy, T-cell therapy are some of the commonly used cancer immunotherapies.
Major factors driving growth of the global cancer immunotherapy market include increasing prevalence and incidence of cancer, and advancements in therapeutics industry. Increasing healthcare expenditure, and broadening of medical insurance coverage are other factors expected to boost growth of this market over the forecast period. Growing popularity of various patient assistant programs sponsored by healthcare companies, medical professional, patient advocacy organizations, which help low-income, and uninsured patients access to free or low-cost treatment is another key factor expected to support growth of the targeted market.
Primary factors hampering growth of this market include high cost associated with immunotherapy drugs, and side effects such as skin reaction, weakness, nausea, vomiting, etc. from prolonged consumption of these drugs.
The global cancer immunotherapy market report has been segmented on the basis of product, cancer type, and region. On the basis of region, the global cancer immunotherapy market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. On the basis of products, the global cancer immunotherapy is segmented into monoclonal antibodies, immunomodulators, and oncolytic viral therapies and cancer vaccines. Monoclonal antibodies accounted for highest revenue share, as compared to other products, owing to its increasing adoption as a targeted therapy to cease development of abnormal protein in cancer cells.
The market in North America is anticipated to dominate the global cancer immunotherapy, and accounted for highest share in terms of revenue, owing to factors such as increasing prevalence and incidence of cancer, well-developed healthcare system, early adoption of immunotherapy technology, and presence of several market players in countries in the region. The market in Asia Pacific is expected to grow at fastest rate, owing to rising healthcare expenditure, and growing awareness regarding benefits of cancer immunotherapy among patients in countries in the region.
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Prominent players in this market include Amgen, Inc., AstraZeneca plc, F. Hoffmann La Roche Ltd., Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, Merck and Co., Inc., Novartis AG, and Pfizer, Inc.
An Aim of Global Market report is as follows:
-To gives market insight across the world.
-To calculate and forecast the market on the basis of various segments.
-To provides market size and foreseen up to 2028 for overall market relevant to key regions.
-To study market dynamics influencing the market during the projection period 2019-2028 i.e. opportunities, risk, threats, drivers, restriction, and current/future trend.
-To offers broad SWOT analysis for all regions included in the report.
-To overview on major players performing in the industry along with their PESTEL study and market policies.