Global Cancer Immunotherapy Market Insights
Cancer Immunotherapy Market size was valued at USD 39.05 billion in 2021 and is poised to grow from USD 85.6 billion in 2022 to USD 309.67 billion by 2030, growing at a CAGR of 9.6% in the forecast period (2023-2030).
The rising prevalence of target therapy in place of traditional therapy, increasing demand for mABs, and emergence of various biosimilars around the globe are the key factors anticipated to drive the growth of the global market during the forecast period. These drugs are mainly designed and created to boost the body’s immune response to fight against cancer with high dependence on the discovery of molecules, is also projected to have positive impact on the global market growth and demand over the coming years.
Furthermore, growing approval from Food and Drug administration such as PD-1 and CTLA-4 checkpoint inhibitors for the treatment of melanoma and non-small cell lung cancer are further expected to boost the global cancer immunotherapy market growth throughout the forecast period. For instance, in May 2021, the US Food and Drug Administration has approved the Amgen’s LUMAKRAS for the better treatment of patients suffering from KRAS G12C, that involves mutated locally advanced or metastatic cell lung cancer. It is the first ever treatment for NSCLC in the world.
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Analysis:
Global Cancer Immunotherapy Market Segmental Analysis
Global cancer immunotherapy market is segmented on the basis of product, cancer type, route of administration, end user, and region. By product, the market is segmented into monoclonal antibodies, immunomodulators, and cancer vaccines. By route of administration, the market is segmented into oral, parenteral, others. By end-user, the market is segmented into hospitals, homecare, speciality centres, others. By cancer type, the market is categorized into lung cancer, breast cancer, colorectal cancer, prostate cancer, and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Cancer Immunotherapy Market Analysis by Product
- By product, the monoclonal bodies segment dominated the market and accounted for a significant market share in 2021. An extensive rise in the research & development activities of monoclonal antibodies has paved the way for new revenue generation to major companies to provide oncology therapeutics. The rising R&D activities have resulting in introduction to mABs, which have various features such as adaptive immunity, antibody dependent cellular toxicity, and antigen specificity due to which, the segment market is anticipated to have a significant growth over the forecast period.
- In addition, immunomodulators segment is projected to grow at fastest CAGR over the forecast period owing to high efficiency and accuracy of immunomodulatory drugs. Moreover, increased focus of major market players on introducing various types of novel techniques, is also likely to propel the growth of the segment over the coming years.
Cancer Immunotherapy Market Analysis by Cancer Type
- By cancer type, the lung cancer segment held the largest market share in 2021, and is set to continue its dominance throughout the forecast period. Rising popularity of several types of harmful products like E-cigarettes is fueling the number of lung cancer patients around the globe. According to the World Health Organization, cancer is a leading cause for the deaths worldwide, with a number of around 10 million deaths in 2020, in which 1.80 million deaths cause by lung cancer around the globe.
- Furthermore, the melanoma segment expected to grow at significant growth rate during the forecast period that is simply attributed to the development of several new products, rising number of FDA approvals, and high research & development activities in this field.
ancer Immunotherapy Market Top Player’s Company Profiles
- Amgen Inc.
- F. Hoffman La Roche
- Bayer AG
- Eli Lilly and Co.
- Novartis
- Seattel Genetics Inc.
- Merck & Co., Inc.
- Celgene Corporation
- Janssen Global Service
- LUPIN
- Aspen Holdings
- Pfizer
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