According to the latest report by IMARC Group, the global cancer immunotherapy market size reached US$ 96.6 Billion in 2021. It is projected to reach a value of US$ 167.5 Billion by 2027 exhibiting a CAGR of 9.10% during 2022-2027.
Cancer is a disease starting in any tissue or organ of the body on account of the abnormal cell growth that invades the adjoining parts and spreads to other organs. Cancer immunotherapy is a treatment that improves the ability of the immune system in fighting this disease. It is utilized in treating several types of cancers, including melanoma, breast, colorectal, prostate, head and neck, lung, etc. Cancer immunotherapy works by activating the immune system by triggering a response capable of destroying the cancer cells. As a result, it finds extensive applications in hospitals, cancer research centers, clinics, etc., across countries.
Global Cancer Immunotherapy Industry Trends and Drivers:
The escalating number of cancer patients across the globe is among the primary factors driving the cancer immunotherapy market. Besides this, the elevating utilization of monoclonal antibodies to treat various types of cancer by selectively attacking cancerous cells is further augmenting the market growth. Apart from this, the rising prevalence of multiple myeloma and melanoma is also catalyzing the global market. Moreover, the introduction of various patient assistance programs that provide financial assistance to low-income individuals to cater to drug coverage is acting as another significant growth-inducing factor. Furthermore, the development of advanced treatment variants with improved efficacy and the continuous technological advancements in clinical therapies are expected to bolster the cancer immunotherapy market in the coming years.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Amgen Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Johnson & Johnson, Merck KGAA, Novartis AG, Pfizer Inc., Sanofi, and Seagen Inc.
The report has segmented the market on the basis of region, therapy type, application and end user.
Based on the therapy type, the market has been divided into monoclonal antibodies, cancer vaccines, checkpoint inhibitors, immunomodulators, and others.
On the basis of the application, the market has been segmented into lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head and neck cancer, and others.
The market has been classified based on the end user into hospitals, cancer research centers, clinics, and others.
Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been analyzed, with some of the key players being Amgen Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Johnson & Johnson Services, Inc., Merck KGAA, Novartis AG, Pfizer Inc., Sanofi Aventis Groupe, and Seagen Inc.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.