Cancer Immunotherapy Industry Overview
The global cancer immunotherapy market size was valued at USD 58.1 Billion in 2018 and is likely to reach USD 126.9 billion by 2026, exhibiting a CAGR of 9.6% during the forecast period.
Growing adoption of advanced cancer therapeutic options coupled with rising cancer incidence has been one of the primary growth stimulants for the market. Healthcare providers are focusing on improving cancer therapeutic facilities and a reduction in the recurrence rate of tumor post chemotherapy.
Gather more insights about the market drivers, restrains and growth of the Global Cancer Immunotherapy Market
Rising R&D activities in the cancer immunotherapy field is resulting in the introduction of advanced variants with enhanced efficacy and effectiveness of treatment. Immuno-oncology have shown promising results with improved survival and lower toxicity. A paradigm shift from traditional chemotherapies to immunotherapies is propelling the overall market.
Immunotherapies in the pipeline are likely to provide more treatment choices and better outcomes than existing therapies. Introduction of newer drug classes, such as monoclonal antibodies and histone deacetylase (HDAC) inhibitors, designed to target receptors related to multiple myeloma, is poised to shape the future of the market. Ongoing studies on similar drugs intended to minimize adverse effects are projected to spur the growth of the market.
In addition, approval of PD-1 and CTLA-4 checkpoint inhibitors for melanoma and Non-Small Cell Lung Cancer (NSCLC) has been boosting the growth of the market. Approval of innovative immunotherapy drug forms, such as vaccines and adjuvants, is on a rise. Moreover, more immunotherapies are being tested for enhanced outputs, such as immunomodulators and CAR T-cell therapy. These new approvals and ongoing research are anticipated to stimulate the growth of the market over the forecast period.
Cancer Immunotherapy Market Segmentation
Based on the Product Insights the market is segmented into Monoclonal Antibodies, Immunomodulators, Oncolytic Viral Therapies and Cancer Vaccines
Based on the Cancer Type Insights the market is segmented into Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head and Neck Cancer, Ovarian Cancer, Pancreatic Cancer
Based on the Regional Insights the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Market Share Insights
Key Companies Profile:
Key parameters affecting competitive nature are rapid adoption of advanced treatment options for improved healthcare coupled with rising need for optimum capital utilization. In addition, in an attempt to retain share and diversify product portfolio, major players are frequently adopting mergers & acquisition strategies.
Some prominent players in the global cancer immunotherapy market include:
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