Global Cancer Immunotherapy market size to reach US$ 115 Bn by 2025 at a CAGR of 11%
Noida, Uttar Pradesh, India, March 12 2021 (Wiredrelease) Report Ocean Pvt Ltd –:The rapid growth in advanced cancer therapeutic adoption and rising cancer incidence worldwide has been one of the market’s primary growth stimulants. Besides, the healthcare providers are focusing on improving cancer therapeutic facilities and reducing the recurrence rate of tumors post-chemotherapy.
Cancer immunotherapy witnesses the increase in rising R&D activities from the manufacturers, which result in advanced variants with enhanced efficacy and effectiveness of treatment. Immuno-oncology has shown promising results with improved survival and lower toxicity. A paradigm shift from traditional chemotherapies to immunotherapies is propelling the overall market. Following these encouraging developments, the Global Cancer Immunotherapy Market is estimated to see healthy growth, pegged at a CAGR of around 11% throughout the forecast period 2020-2025.
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Cancer Immunotherapy Sector Overview
Immunotherapies in the pipeline are likely to provide more treatment choices and better outcomes than existing therapies. The introduction of newer drug classes, such as monoclonal antibodies and histone deacetylase (HDAC) inhibitors, designed to target receptors related to multiple myeloma, is poised to shape the market’s future. Ongoing studies on similar drugs intended to minimize adverse effects are projected to spur the market’s growth.
Besides, the approval of PD-1 and CTLA-4 checkpoint inhibitors for melanoma and Non-Small Cell Lung Cancer (NSCLC) has been boosting the market’s growth. Approval of innovative immunotherapy drug forms, such as vaccines and adjuvants, is on the rise. Moreover, more immunotherapies are being tested for enhanced outputs, such as immunomodulators and CAR T-cell therapy. These new approvals and ongoing research are anticipated to stimulate the market’s growth over the forecast period.
North America dominates the global cancer immunotherapy market
North America held the largest revenue share by 2025. The increasing ease of access to modern therapeutics, rising incidence of the disease, and expanding geriatric population contribute to the regional market’s growth.
The Asia Pacific accounts for the fastest growth rate in cancer immunotherapy sales during the forecast period. New and advanced immunotherapy drugs are being introduced in China and Japan. These countries have several ongoing clinical trials and FDA approvals for new drug molecules and combination therapies. Approval of new treatment drugs in China and Japan is boosting the adoption of immunotherapy to treat tumors. Moreover, lack of regulatory & cultural inhibitions and the presence of market players with significant investments in the market, such as AstraZeneca; Merck & Co., Inc.; and Pfizer, Inc., are augmenting the Asia Pacific market.
Segmentation Overview of the Global cancer immunotherapy Market
The cancer immunotherapy market is segmented based on Type, Application, and End User. These major market segments are further categorized into various sub-segments to study the market in detail.
By Type Outlook (Monoclonal Antibodies, Cancer Vaccines, Checkpoint Inhibitors, Immunomodulators)
By Application Outlook (Lung Cancer, Breast Cancer, Head and Neck Cancer, Prostate Cancer, Colorectal Cancer, Melanoma, Others)
By End User Outlook (Hospitals, Clinics & Others)
Key Players Insights
Hoffmann-La Roche AG, Merck & Co., Inc., Novartis International AG, GlaxoSmithKline Plc., Amgen Inc., Bristol-Myers Squibb, ELI Lilly and Company, Celgene Corporation, Seattle Genetics, Inc., and Spectrum Pharmaceuticals, Inc., among others, are the major cancer immunotherapy players included in the research study.
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