The immuno-oncology therapy has shown excellent results in various clinical trials and in patients being treated with immune-oncology therapy. Immuno-oncology therapies can leverage patients’ immune system and re-program the same to attack cancer cells, providing a safe and effective alternative. There has been an increasing demand for immuno-oncology therapy as several traditional methods used in the treatment of cancer such as chemotherapy, radiation therapy, and surgery, etc. carry the risk of side effects, and have limited effectiveness as they tend to harm healthy cells present near the tumor microenvironment.
Worldwide sales of products used in immuno-oncology therapy are expected to account for the revenues worth ~US$ 10 Bn by the end of 2019, unveils the new research study by Persistence Market Research (PMR). According to the report, the immuno-oncology market is estimated to grow by ~ 12% Y-O-Y by the end of 2020, primarily influenced by the recent advancements in the immuno-oncology market. The immune checkpoint inhibitors are the most widely used immuno-oncology therapy for treatment of cancer and is accounted for approximately 88% of the immuno-oncology market.
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The immuno-oncology market is expected to continue growing in the coming years due to the increasing prevalence of cancer and the increasing adoption of immuno-oncology therapies. The market is expected to be driven by factors such as the development of new immuno-oncology therapies, the expanding number of cancer indications for which immuno-oncology therapies are approved, and the increasing use of combination therapies that incorporate immuno-oncology therapies with traditional cancer treatments.
The immuno-oncology market is segmented by therapy type, cancer type, and end user. The therapy type segment includes immune checkpoint inhibitors, cancer vaccines, and adoptive cell therapies. The cancer type segment includes melanoma, lung cancer, and renal cell carcinoma. The end user segment includes hospitals and clinics, cancer research institutes, and pharmaceutical and biotechnology companies.
Overall, the immuno-oncology market is expected to continue growing in the coming years due to the increasing prevalence of cancer and the increasing adoption of immuno-oncology therapies. The market is expected to be driven by factors such as the development of new immuno-oncology therapies, the expanding number of cancer indications for which immuno-oncology therapies are approved, and the increasing use of combination therapies that incorporate immuno-oncology.
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Partnerships and Collaborations to Boost Technical Expertise
Companies are pursing licensing deals, partnerships, and collaborations to boost technical expertise and beef up their product portfolios. In order to stay in the competition, players of the immuno-oncology market are trying to identify and collaborate with smaller firms operating in the immuno-oncology market to expand their business globally. This strategy of market players is anticipated to fuel the growth of the immuno-oncology market over the forecast period.
Combination Therapies over Monotherapy to Spur Growth of the Immuno-Oncology Market
Combination strategies by using immunotherapy with radio, targeted antibody, chemo, cryotherapy or with other immuno-oncology therapies are likely to expand the potential indications for various drugs. These combination therapies are supposed to improve survival rates of the patient considerably, as have been evident from limited clinical data in comparison with monotherapy. Various companies have identified that multiple pathways are affected in tumor regulation, hence seek to use combination therapy as a more effective method. These combination therapies are expected to contribute to the growth of the immuno-oncology market.
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