The Global Cancer Immunotherapy Market is presumed to expand at 14.8 % CAGR during the forecast period (2017-2023) owing to the increasing prevalence of cancer population, asserts Market Research Future (MRFR). Cancer is a condition of uncontrolled cell growth. Cancer immunotherapy helps the immune system to target the cancerous tumor cells. As per the World Health Organization, in 2015, cancer was the main cause for 8.8 million deaths.
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.
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Drivers and Constraints Impacting the Market
High consumption of alcohol, smoking, and deteriorating lifestyle are the major factors responsible for the rising incidence of cancer. With the growing cancer patient population, there is an increase in the cancer immunotherapy market. Immunotherapy is more effective and has lesser side effects than other available therapies, thereby expanding the market growth over the forecast period. Growing research and development in cancer immunotherapy is leading to the introduction of advanced treatment options. The shift from traditional chemotherapies to immunotherapies is anticipated to propel the market during the review period. The market is also predicted to experience high development due to the launch of new drugs and new treatment methods.
On the flip side, high cost of drugs coupled with adverse effects associated with them is hampering the market growth over the years. For instance, insomnia, non-targeted actions, pain, gastrointestinal conditions, nausea, and fatigue affect the quality of life of the patients. Additionally, prolonged consumption of such drugs destroys major organs and leads to organ failure which is predicted to inhibit the market growth.
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.
Segmentations for Global Cancer Immunotherapy Market
The global cancer immunotherapy market has been segmented on the basis of application, therapy types, end-users, and region.
By mode of type, the global immunotherapy market has been segmented into cytokines, adoptive cell transfer, treatment vaccines, bacillus Calmette-Guerin, monoclonal antibodies, and others. Among these, monoclonal antibodies are sub-segmented into conjugated monoclonal antibodies, bispecific monoclonal antibodies, and naked monoclonal antibodies. Cytokines are sub-segmented into interleukins and interferon. The monoclonal segment is presumed to be the largest segment owing to the growing investment on R&D of monoclonal antibodies as bispecific antibodies, naked antigen-binding antibodies, and conjugated monoclonal antibodies.
By mode of application, the global market has been segmented into stomach cancer, colorectal cancer, liver cancer, childhood cancer, lung cancer, and others.
Regional Analysis for Global Cancer Immunotherapy Market
Geographically, the cancer immunotherapy market spans across regions namely, Europe, North America, Asia Pacific, and the Middle East and Africa.
Among all the regions, Europe and North America are presumed to be the major contributors owing to their reputation as an appropriate place for R&D. The market has a huge demand in both the regions and is predicted to expand in the coming years.
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The Asia Pacific region is presumed to be the fastest growing market for cancer immunotherapy due to the presence of huge patient population, rapid development in the healthcare technology, and high expenditure on healthcare. Additionally, growing demand for new treatment methods in South Korea and India are likely to propel the market growth in the coming years.
Meanwhile, the Middle East and African region hold the least share compared to other regions in spite of rising occurrence of cancer due to excessive intake of alcohol, smoking, and change in lifestyle.
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