Cancer Immunotherapy Market Highlights
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 Regional Analysis
On regional basis, Global immunotherapy market is analysed for major regions of the world i.e. North America, Europe, Asia Pacific and the Middle East and Africa.
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North America is the major contributor in the market because of huge technological advances and affordability of treatment. Beside this, a well-established healthcare sector and ample amount of expenditure in healthcare has attracted many of the manufacturers to this region.
Europe holds the second largest share of the global cancer immunotherapy market as result of increasing focus of various government agencies on the treatment of disease like cancer.
Improvement in healthcare infrastructure, rise in healthcare expenditure and increase in per capita income in Asia Pacific region has made this region as the fastest growing region.
The Middle East and Africa holds a relatively lower market share in comparison to others.
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.
Cancer Immunotherapy Market 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.
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