The Global Cancer Immunotherapy Market is expecting growth at a very high rate in the coming future. This is due to the increasing number of patients suffering from different types of cancer. Globally approximately 100 types of different types of cancer have been registered. And in terms of treatment, limited number of treatments are available in the market. Cancer immunotherapy is expecting to make a huge development in coming future due to its various advantages. Immunotherapy is more effective than other available therapies and have lesser side effects. Increasing cancer population across the globe is a direct consequence of the lowering health standards i.e. increasing smoking and alcohol intake in millennial population has led to an increase in the number of lung and liver cancers. Which has provided a fuel for the development of the market. Long time for approval, high cost of treatment and many adverse effects may hinder the market growth.
In 2016, the global cancer immunotherapy market was valued at USD 36 billion. Which is expected to grow at a CAGR of 14.8% within a forecasted period from 2017-2023. The global immunotherapy market is expected to reach USD 101.6 billion by the end of 2023.
Cancer Immunotherapy Market Segmentation:
The Global Cancer Immunotherapy Market is segmented on the basis of therapy types, by application, by end user.
On the basis of type, it is segmented into monoclonal antibodies, adoptive cell transfer, cytokines, treatment vaccines, bacillus calmette-guérin, and others. Monoclonal antibodies further segmented into naked monoclonal antibodies, conjugated monoclonal antibodies, and bispecific monoclonal antibodies. Cytokines are further segmented into Interferon, Interleukins. On the basis of application, it is segmented into liver cancer, childhood cancer,colorectal cancer, stomach cancer, lung cancer and others. On the basis of end user, it is segmented into hospitals, clinics and others.
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Cancer Immunotherapy Market Major Key Players:
Some of key the players in the market are F. Hoffmann-La Roche AG, Merck & Co., Inc., Novartis International AG, GlaxoSmithKline Plc., Amgen Inc., Bristol-Myers Squibb, ELI Lilly and Company, Celgene Corporation, Seattle Genetics, Inc., Spectrum Pharmaceuticals, Inc.
Market, Innovation & Related News:
Increasing number of patient pool suffering from Cancer has spurred the growth of the market. Increasing awareness of the Cancer Immunotherapy coupled with the advantages it offers, technological advancement, rapid adoption and increasing demand from emerging economies are driving the growth for the market. Some other factors like rising adverse effects, such as recurrence of cancer and organ failure, associated with conventional chemotherapies are driving the market growth. Growing research & development, clinical trials, and new approvals are leading the market growth.
Companies are collaborating with hospitals and independent research centers to bring novelty in to Cancer Immunotherapy field is another major driving factor for the market. Rapid adoption of Cancer Immunotherapy by medical professionals as well as patients, and increasing success rate are important factors for the growth of global Cancer Immunotherapy market. The market for Cancer Immunotherapy in emerging markets of Asia and Latin America is flourishing and demand for newer Cancer Immunotherapy is expected to rise in near future. Pharmaceutical companies are increasingly getting benefitted with the Cancer Immunotherapy.
While, lack of awareness and adverse effects associated with immune therapeutic drugs are expected to present challenges to the Cancer Immunotherapy market, major factors such as rising advent immunotherapeutic drug classes, mainly target receptors for multiple myeloma and checkpoint inhibitors coupled with the introduction of new molecules that has already been proven to be a boon for patients with inactive response to chemotherapy and numerous advent immunotherapeutic options, such as immunomodulators and CAR-T cell therapy, which will be soon available for public with their ability to provide better cancer treatment are expected to phenomenally foster the growth of the Cancer Immunotherapy market.
Cancer Immunotherapy Global Market – Regional Analysis:
Global Cancer Immunotherapy market is segmented into four main geographical region, they are North America, Europe, Asia Pacific and The Middle East and Africa.
Over the last few years, North America and Europe are the major contributors in the global Cancer Immunotherapy market. Due to their reputation as a suitable place for research and development. The market for Cancer Immunotherapy has a huge demand in both region and is expected to grow in coming future.
Asia Pacific is however the fastest growing Cancer Immunotherapy market owing to the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure. Moreover increasing demand for new treatment methods in countries like India and South Korea are likely to emerge as the fastest growing market across the globe.
The Middle East and Africa holding the least growth in comparison to other region, although, increasing occurrence of cancer owing to smoking, change in lifestyle, and excessive alcohol intake are driving the Cancer Immunotherapy market in this region.
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Major TOC for Cancer Immunotherapy Market:
Table of Contents
- Report Prologue
2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
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