The growing incidences of cancer and a need to treat them is the key driver of the global immunotherapy market. The number of deaths occurring due to cancer is increasing every year and has therefore forced government bodies to take initiatives for the improvement of the health conditions of people, by investing heavily in research and development and enabling innovation and advancements in technology so as to offer improved treatments. This has pushed the growth of the global cancer immunotherapy therapy.
As immunotherapy therapy has a higher success rate and proven efficiency over conventional treatment methods for cancer, its demand is higher and therefore, the market is expected to witness a remarkable growth over the coming years. The treatment pipeline looks promising and is thus, expected to ensure a healthy growth of the market.
The report offers forecasts of the overall cancer immunotherapy market over the global level as well as on regional levels. The estimated size of each of the segments and sub-segments has also been given in the report. Macroeconomic indicators, drivers, and restraints impacting the global cancer immunotherapy market have been included along with their impact on each region. Current challenges met by players in the cancer immunotherapy market have been elaborated on, thus giving a brief idea to readers and investors the problems they may encounter while investing in the competitive market.
The global cancer immunotherapy market is expected to hold promising growth as there lies immense scope for improvement and development. The increasing number of clinical trials held particularly in immunotherapy is expected to boost the market’s growth. With the recognition from various medical bodies as the foremost line of therapy over conventional chemotherapy, cancer immunotherapy is estimated to hold immense potential and growth opportunity in the coming years.
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However, factors such as high attrition rates during product development phase are anticipated to restrict the growth of the market. Also, an overall lack of awareness about immunotherapy being a better treatment option will impede the growth of the market. The high cost of clinical trials poses a challenge for players in the market. With many types and subtypes of cancer, having a single mode of treatment method is impossible, increasing the attrition rates of new drugs and treatments. Only a handful of contenders in the pipeline pass through the phase III trials and the rest are considered to be inefficient. This is yet another challenge faced by players in the market.
On the basis of therapeutic area, the market is segmented into colorectal cancer, lung cancer, breast cancer, melanoma, prostate cancer, and blood cancer. By end users, the global cancer immunotherapy market is segmented into ASC’s (ambulatory surgical centers), hospitals, clinics, and cancer research centers. Hospitals are expected to be the leading segment in the market. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Asia Pacific is poised to witness significant growth in the market.
The report provides studies key players operating in the market. Some of the key players in the global cancer immunotherapy market are: F.Hoffmann-La Roche Ltd., AstraZenca Plc, Eli Lilly and Company, Amgen, Inc., Bristol-Myers Squibb Company, GlaxoSmithKline Plc., Novartis AG, Pfizer, Inc., Janssen Biotech, Inc., Merck & Co., Inc., Janssen Biotech, Inc., Merck & Co., Inc., Sanofi, Takeda Pharmaceuticals, and Spectrum Pharmaceuticals, Inc.
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