Cancer Immunotherapy Market Size Share Trends Growth Volume
Cancer immunotherapy is a cancer treatment that enhances the immune system’s ability to fight cancer. This therapy is preferable to the old technique because it provides long-term cancer protection, has fewer side effects, and treats a wider range of cancer. Immunotherapy works by directing the immune system toward cancer-specific targets, activating the immune system to mobilize the target, and triggering a response capable of destroying cancer cells.
Market Size Growth Rate:
According to the DataM market research report, the global cancer immunotherapy market size was valued at USD billion in 2021, it is projected to be at USD billion by 2029, with growth at a CAGR of 7.1% over the forecast period 2022-2029.
Rising R&D activities in the cancer immunotherapy field are resulting in the introduction of advanced variants with enhanced efficacy and effectiveness of treatment. Immuno-oncology has shown promising results with improved survival and lower toxicity. A paradigm shift from traditional chemotherapies to immunotherapies is propelling the overall market.
Asia Pacific Cancer Immunotherapy Market:
The Asia Pacific is expected to experience the fastest growth during the forecast period. New and advanced immunotherapy drugs are being introduced in China and Japan. These countries have several ongoing clinical trials as well as FDA approvals for new drug molecules and combination therapies. Approval of new treatment drugs in China and Japan is boosting the adoption of immunotherapy for the treatment of tumors. Moreover, the lack of regulatory & cultural inhibitions and the presence of market players with major investments in the market, such as AstraZeneca; Merck & Co., Inc.; and Pfizer, Inc., are augmenting the Asia Pacific market.
North America Cancer Immunotherapy Market:
North America held the largest revenue share in 2021. The rising incidence of the disease, and increasing ease of access to modern therapeutics, coupled with expanding geriatric population, are contributing to the growth of the regional market.
The cancer immunotherapy market growth is driven by an increase in healthcare expenditure, a rise in the incidence of cancer, a surge in access to medical insurance, and a surge in technological advancements in cancer treatment therapies expected to propel the growth of the global cancer immunotherapy market. According to statistics given by the national cancer institute in 2020, an estimated 1,806,590 new cases of cancer were diagnosed in the U.S. and 606,520 people passed away due to the disease. This surge in the incidences of cancer propels the growth of the industry in the coming years.
High cost for the development of the products with low success rates, increased risk of side effects, and patent expiry of the major drugs in the cancer immunotherapy market is the significant challenges in the cancer immunotherapy market.
The rising effectiveness and accuracy of these immunomodulatory drugs are resulting in their increased market penetration. Along with these approved drugs, market players are working towards introducing several novel therapies to provide lucrative market opportunities.
COVID-19 Impact Analysis
With the rising COVID-19 pandemic, the market is expected to be negatively impacted due to the shortage and irregular supply of cancer immunotherapy products. This might allow local manufacturers to increase their presence in the market. Additionally, some biopharmaceutical companies, such as Merck & Co. Inc., and Eli Lilly and Company had announced clinical trial delays. For instance, the data from ClinicalTrials.gov has shown that more than 200 interventional oncology studies were suspended in March and April 2020, as a result of the COVID-19 crisis. Also, 60% of institutions in the United States and 86% in Europe are enrolling new patients at a lower rate. Therefore, globally the companies are focused on the development of drug or vaccine especially immunotherapy-based drug for COVID-19 because immunotherapy is highly effective, and act by stimulating patients to own immune system, which is expected to impact the market growth for a short period of time.
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Recent Developments in the Industry:
- On December 02, 2019, innovent Biologics, a multinational biopharmaceutical company, and Eli Lilly and Company presented their co-developed Tyvyt a fully human anti-programmed cell death protein 1 (anti-PD-1) monoclonal antibody at CIIE 2019. The medicine works to block the interaction of PD-1 with its ligands (PD-L1 and PL-L2) and consequently helps patients restore the endogenous antianti-tumorell response. As part of a new partnership for developing the next-generation drugs of cancer immunotherapy, Eli Lilly is leading medical research and working with Innovent to introduce high-quality and affordable cancer-fighting products to China’s market.
As per the research analysis, the cancer immunotherapy market is segmented by disorder into product type, monoclonal antibodies, cancer vaccines, immune checkpoint inhibitors, and others. By cancer type, the market is further segmented into lung cancer, breast cancer, head and neck cancer, melanoma, colorectal cancer, ovarian cancer, and others, by the end-user, the market is segmented into hospitals and clinics, cancer research centers, other, cancer immunotherapy market providing companies, health insurance companies, others.
- On the basis of the cancer type, head & neck cancers include a number of different malignant tumors that develop in or around the throat, larynx, nose, sinuses, lips, salivary glands, and mouth. There are different types of drugs used alone or in combination for the treatment of head & neck cancer. Although traditional chemotherapeutic drugs are preferably used in combination with radiation therapy, targeted immune therapies are emerging as a standard treatment option for advanced-stage head & neck cancers.
- Based on the product type, monoclonal antibodies, are estimated to grow at the highest CAGR of X% over the forecast period (2022-2029), owing to increasing product adoption to reduce the disease-associated mortality rate will excel the industry growth during the projection period. Moreover, an extensive product pipeline with potential effective therapies catering to such a diverse range of diseases will result in market expansion. Thus, with a high product approval rate, contributing to increasing accessibility, the market will witness significant revenue growth during the forecast period.
The global cancer immunotherapy market is segmented into major regions including North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
The cancer immunotherapy market is highly competitive with the presence of major players and small emerging players. In the cancer immunotherapy market, companies, healthcare insurance providers, and hospitals all are emerging at a steady pace with competitive Cancer Immunotherapy s. Key players compete on the basis of aggressive pricing, features, convenient use, technology upgrades, and marketing strategies. The market players are adopting various key strategies such as collaborations, partnerships, acquisitions, and product launches to expand their presence.
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Some of the major key players in the market are Amgen Inc, Astellas Pharma, Inc., AstraZeneca, Bayer AG, Bristol-Myers Squibb, Eli Lilly and Co., F. Hoffman La Roche, Merck and Co, Novartis, OSE Immunotherapeutic.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the cancer immunotherapy market segmentation by disorder, service provider, and region highlighting the key commercial assets and players.
- By Product Type: Monoclonal Antibodies, Cancer Vaccines, Immune Checkpoint Inhibitors, Others
- By Cancer Type: Lung Cancer, Breast cancer, Head and neck cancer, Melanoma, Colorectal cancer, Ovarian cancer, Others
- By End User: Hospitals and Clinics, Cancer Research Centers, Other
- By Region: North America, South America, Europe, Asia Pacific, and the Middle East & Africa
- Identify commercial opportunities in the cancer immunotherapy market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and pricing analysis.
- Excel data sheet with thousands of data points of Cancer Immunotherapy Market -level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
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