According to a new report published by Allied Market Research, titled, “Cancer Immunotherapy Market by Technology Type (Monoclonal Antibodies, Cytokines & Immunomodulators, and Others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head & Neck Cancer, and Others), and End user (Hospitals, Cancer Research Centers, and Clinics): Global Opportunity Analysis and Industry Forecast, 2021-2030”. According to the analyst of AMR, global Cancer Immunotherapy Market generated $85.60 billion in 2020, and is estimated to generate $309.66 billion by 2030, witnessing a CAGR of 14.1% from 2021 to 2030.
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Cancer Immunotherapy Market Overview-
Rise in prevalence of cancer diseases, growth in geriatric population, surge in expenditure toward health related issues, and increasing awareness among consumers for cancer immunotherapy drive the growth of the global cancer immunotherapy market. However, risk of allergic reaction and limitations of the cancer immunotherapy treatment and strict government regulations hinder the market growth. On the other hand, surge in research and development in cancer immunotherapy presents new opportunities in the coming years.
Covid-19 Scenario:
- The COVID-19 pandemic has drastically affected the buying capacity of hospitals, especially small-scale hospitals and scanning centers.
- The clinical trials of the new cancer immunotherapy drugs are kept on hold, as during this crisis individual are more susceptible to suffer from COVID-19. COVID friendly cancer treatments, however, are observed to be increased during the course of time.
- Also, the government bodies have issued vaccination drives all across the globe along with relaxing regulations, which is expected to help the industry revive soon.
Cancer Immunotherapy Market Segmentation:
On the basis of technology, the monoclonal antibodies segment held the highest share in 2020, accounting for around two-thirds of the total share, and is projected to maintain its lead position throughout the forecast period. In addition to this, the segment is also estimated to witness the highest CAGR of 14.5% from 2020 to 2030. The report also covers segments including cytokines & immunomodulators and others.
On the basis of region, North America accounted for the highest share in 2020, contributing to more than two-fifths of the total market share, and is expected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is expected to register the fastest CAGR of 15.5% during the forecast period.
On the basis of end user, the hospital segment contributed to the highest market share, holding nearly three-fifths of the global cancer immunotherapy market in 2020, and is expected to maintain its lead in terms of revenue throughout the forecast period. Furthermore, the segment is also expected to manifest the largest CAGR of 14.7% from 2020 to 2030. The report also studies segment including Cancer Research Centers and clinics.
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Cancer Immunotherapy Market: By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the Cancer Immunotherapy Market Report:
What is the Cancer Immunotherapy market size and growth?
What are the prominent and latest trends impacting the market?
Which is the largest regional market for Cancer Immunotherapy?
Key market players discussed in the Cancer Immunotherapy Market report include Amgen, Inc., AstraZeneca, PLC, Bayer AG, Bristol-Myers Squibb Company, Eli Lily And Company, F. Hoffmann-La Roche, Ltd. (Genentech, Inc.), Pfizer, Inc., Johnson & Johnson (Janssen Global Services, LLC), Merck KGAA, and Novartis AG.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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