Analysts at Healthcare Intelligence Markets Has Anticipated the Global Cancer Immunotherapy Market to Grow at a CAGR of Around +12% During the Forecast Period.
Immunotherapy is a way of dealing with body’s withering level of immunity that ultimately helps fight cancer and other diseases. This industry provides solutions and treatments to improve the natural immune system to fight against cancer cells in human beings. The immune system is composed of special cells that shields the body against abnormal growth that the body cannot perceive and ultimately causes the disease. The therapy uses natural substances from the body and it may stop or slow down the growth of these cells by forcing the immune system to battle tumor effectively.
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The Global Cancer Immunotherapy Market size is estimated to be worth USD +130 billion by 2026 due to increasing incidence of cancer among both developed countries and emerging economies. The key players are continuously investing in research and development activities, which has led to an expansion of drug innovation procedure, therefore catering to treat the growing occurrence of the disease.
The global cancer immunotherapy market provides segmentation on the basis of end users such as hospitals, cancer research centers, and clinics. It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
North American region held the highest market share and is exhibiting to be the fastest growing.
The competitive landscape of the global cancer immunotherapy industry is highly fragmented, especially in cancer research centers, and this factor is expected to promote the market’s growth further. The willingness of companies to enter untapped niche treatment type segment is expected to redefine the shape of the market over the next few years. Companies such as Abbott, Abbvie, Adura Biotech, Advaxis Immunotherapies, Amgen, Astellas Pharma, Astrazeneca, Bayer AG, Biogen, Boehringer Ingelheim, Bristols-Myers Squibb, Celgene Corporation, Eli Lily & company, F.Hoffman -La Roche, GlaxoSmithKline, Merck, Novartis AG, Pfizer, Sanofi, and Teva pharmaceuticals are having their prominent global presence. They have extensive product portfolios and are undertaking merger & acquisition activities to stay competitive. For instance, in March 2010, Abbott announced that they has collaborated with GlaxoSmithKline (GSK) to curating an examination process called as molecular diagnostic test, which helps medical practitioners to select patients who are more likely to benefit from the skin cancer treatment in developed by GSK.
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The rising awareness about the benefits of using these modern solutions has led to a shift from the traditional treatment methodologies and therefore, has led to an increased adoption of cancer immunotherapy therapies. However, the harmful side-effects associated with the harmful effects of these drugs is hampering the market’s growth. The increasing R&D activities has resulted in the development of Biosimilars, which are proven to have minimum adverse effects and is therefore granting new opportunities for entrants who are planning to establish a firm standing in this market.
Cancer Immunotherapy Market – By Cancer Type
• Thyroid Cancer
• Lung Cancer
• Breast Cancer
• Throat Cancer
• Skin Cancer
o Intestine Cancer
o Blood Cancer
Cancer Immunotherapy Market – Types
• Immune Checkpoint Inhibitors
• Cancer Vaccines
• Oncolytic Virus Therapy
• CAR T-cell Therapy
o Non-Specific Immunotherapies
Cancer Immunotherapy Market – ByTreatment Types
• Intravenous IV
Cancer Immunotherapy Market – By End Users
• Cancer Research Centers
Cancer Immunotherapy Market – By Regions
• North America
• Rest of North America
• The UK
• Rest of Europe
• Asia Pacific
• Southeast Asia
• Rest of Asia Pacific
• Middle East and Africa
• GCC Countries
• Southern Africa
• Rest of Middle East and Africa
• Latin America
• Rest of Latin America