Immunotherapy is one of the most recent approaches for cancer therapy. It is a treatment that uses body’s own immune system to help fight cancer. It is widely used in hospital settings and clinics for the treatment of different types of cancers such as lung cancer, breast cancer, colorectal cancer, multiple myeloma, melanoma, prostate cancer, and other types of cancer. “Meticulous Research” in its latest publication states that, “the global Cancer Immunotherapy Market is will reach $152,829.0 million by 2024, growing at a CAGR of 13.8% during the forecast period of 2018 to 2024.”
This growth is primarily driven by the rising incidence of cancer globally, increasing survival rate in the patients adopting cancer immunotherapy as a treatment option, growing adoption of cancer immunotherapies over other cancer treatment options, and rising number of technology collaborations and mergers in the market.
The increased use of immunotherapy is primarily associated with the adverse effect of chemotherapy and radiation therapy. Drugs such as keytruda and Opdivo trigger the immune system in order to destroy the oncogenic cells. Immunotherapies help in acting upon the target cell that cannot be captured by the chemotherapeutics and hence selectively attacks the cancer cells only. Owing to this mechanism, the products such as monoclonal antibodies, check point inhibitors, and cell therapies are widely adopted for better efficacy and effective therapeutic actions.
Moreover, according to the study (long-term survival rate in patients with metastatic NSCLC treated with an immune checkpoint inhibitor) presented at the American Association for Cancer Research (AACR) in 2017, 16% of patients with advanced NSCLC treated with Nivolumab were alive 5 years after treatment; compares with only about 4% of patients alive at 5 years with conventional chemotherapy. This increase in adoption of the immunotherapies due to its advantages over the traditional therapies and longer-term survival rate is expected to drive the overall cancer immunotherapy market during the forecast period.
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The report provides meticulous analysis of cancer immunotherapy market by segmenting it on the basis of type (monoclonal antibodies, checkpoint inhibitors, immunomodulators, vaccines, cell therapy), application (lung, breast, multiple myeloma, colorectal, melanoma, prostate), and end user (hospitals, clinics & others).
The key players analyzed in the cancer immunotherapy market are F. Hoffmann-La Roche (Switzerland), Celgene Corporation (US), Bristol-Myers Squibb (US), Merck & Co., Inc. (US), Amgen Inc. (US), ELI Lilly and Company (US), Janssen Global Services, LLC (US) (Johnson and Johnson), Novartis (Switzerland), Pfizer, Inc. (US), Gilead Sciences, Inc. (US), Dendreon Pharmaceuticals (US), and Bayer (Germany)
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Key Topics Covered in This Report:
- Research Methodology
- Executive Summary
- Market Share Analysis
- Market Insights
- Cancer Immunotherapy Market, By Type
- Cancer Immunotherapy Market, By Application
- Cancer Immunotherapy Market, By End User
- Geographic Analysis
- Competitive Landscape
- Company Profiles
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