Market Research Future recently published a study report “Cancer Immunotherapy Market”, giving out a complete market insight for the period 2017 – 2023. In its analysis, MRFR asserts that the Global Cancer Immunotherapy Market will reach up to USD 101.6 Billion by 2023 registering 14.8% CAGR during the review period (2017 – 2023).
Global cancer immunotherapy market has been growing at a impressive rate in recent years and will maintain the same in coming future. Approximately 100 different types of cancer have been identified. Cancer is condition of uncontrolled cell growth. Cancer Immunotherapy, on the other hand, helps the immune system to target cancerous tumor cells, which is in fact the natural tendency of the body but tends to weaken with the advent of disease infections.
This is due to the increasing number of patients suffering from different types of cancer. Immunotherapy is more effective than other available therapies and have lesser side effects. Increasing cancer population across the globe is a direct consequence of the lowering health standards i.e. increasing smoking and alcohol intake in millennial population has led to an increase in the number of lung and liver cancers. Which has provided a fuel for the development of the market.
In 2016, the Global Cancer Immunotherapy Market was valued at USD 36 billion. Which is expected to grow at a CAGR of 14.8% within a forecasted period from 2017-2023. The Global immunotherapy market is expected to reach USD 101.6 billion by the end of 2023.
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Key Players for Global Cancer Immunotherapy Market
Some of key the players in the market are F. 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., Spectrum Pharmaceuticals, Inc.
Regional Analysis for Global Cancer Immunotherapy Market
On regional basis, Global Immunotherapy Market is analysed for major regions of the world i.e. North America, Europe, Asia Pacific and the Middle East and Africa.
North America is the major contributor in the market because of huge technological advances and affordability of treatment. Beside this, a well-established healthcare sector and ample amount of expenditure in healthcare has attracted many of the manufacturers to this region.
Europe holds the second largest share of the Global Cancer Immunotherapy Market as result of increasing focus of various government agencies on the treatment of disease like cancer.
Improvement in healthcare infrastructure, rise in healthcare expenditure and increase in per capita income in Asia Pacific region has made this region as the fastest growing region.
The Middle East and Africa holds a relatively lower market share in comparison to others.
Segmentations for Global Cancer Immunotherapy Market
The Global Cancer Immunotherapy Market is segmented on the basis of therapy types, by application, by end user.
On the basis of type, it is segmented into monoclonal antibodies, adoptive cell transfer, cytokines, treatment vaccines, bacillus calmette-guérin, and others. Monoclonal antibodies segment is further segmented into naked monoclonal antibodies, conjugated monoclonal antibodies, and bispecific monoclonal antibodies. Cytokines are further segmented into Interferon, Interleukins
On the basis of application, it is segmented into liver cancer, childhood cancer, colorectal cancer, stomach cancer, lung cancer and others.
On the basis of end user, it is segmented into hospitals, clinics, and others.
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