The globalimmuno-oncology market size is expected to reach USD 38.89 billion by 2025 according to a new study by Polaris Market Research this report gives a detailed insight into current market dynamics and provides analysis on future market growth.
Immuno-oncology, also called as cancer immunotherapy is a biologic treatment, which enhances the body’s natural defenses to stop the growth of cancer. This therapy uses constituents made by the body or in a research laboratory to improve or reestablish the immune system function.
Immuno-oncology represents an innovative approach to cancer research that seeks to harness the body’s own immune system to fight tumor cells. Currently, world is at the forefront of this science with several compounds in development that are being investigated for use in a variety of cancers, as well as an approved immuno-oncology medicine that continues to be studied for new uses. The more precise targeting of patients for selected therapies is another important area of focus in oncology. Clinical biomarkers and pharmacogenomic studies are increasingly used to identify groups and sub-groups of patients most likely to benefit from an investigational agent in order to maximize its potential benefits.
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The global immuno-oncology market is driven by the factors such as rising occurrence of different forms of cancer, technological advancements in the field of immune oncology for cancer treatment, and rising awareness concerning the benefits of ablation procedures over conventional treatment procedures. Moreover, rising number of ablation centers, surgical centers, and hospitals are driving the growth of tumor ablation market globally. Additionally, the developments in oncology treatments, leading to the increased development of pioneering products are also advancing towards significant growth of the global Immune Oncology market.
the increasing trend was also seen in the research in the novel agents and increase in the number of clinical trials in combinations as well as monotherapy. The most notable new agents in Immuno-Oncology are IDO’s, LAG-3, TIGIT, TIM-3, VISTA, KIR, NKG2A, B7-H3/H4. The Report has also emphasized on the Oncolytic viruses, Neo-Antigen therapies, TCR Therapies and CAR-T therapies.
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On the basis of treatment type, the global immuno-oncology market is segmented into Monoclonal Antibodies, Therapeutic Vaccines, Checkpoint Inhibitors, and Cytokines. Checkpoint inhibitors were the largest treatment process segment in 2019 that accounted for 55.2% of the overall revenue. On the basis of novel targets, the global market is segmented into IDO1i, LAG-3 CPI, oncolytic virus, STING agonist, TLR agonist, HDACi, TIL, VEGFi, MEKi, TIGIT, CPI, GITR agonist, TGF-b trap, and A2AR antagonist/CD73i. VEGFi was the largest novel target segment that was used for immuno-oncology treatment processes in 2019 with a total market share of 11.2%. on the basis of cancer type, the global immuno-oncology Market is segmented into Melanoma, Non-Small Cell Lung Cancer, Renal Cell Carcinoma, Head, face & Neck Cancer, Bladder Cancer, Classical Hodgkin’s Lymphoma, Merkel Cell, and carcinoma. Revenue share of immuno-oncology treatment for classical hodgkin’s lymphoma was the largest in 2019 i.e. 15.31% among the listed tumor types in the report.
On the basis of geography, North America was the largest regional market in 2019. High levels of spending on cancer treatments, also U.S. being one of the major country y with a huge population of cancer affected people on a global scale, the country being the host to the development of this technology, higher frequency of innovations of immuno oncology treatments or processes in the region specially in the U.S. etc., all of these factors have driven significant investment and alongside the demand for IO in the region. These factors have driven the North American market since the inception of this technology and over the forecast period it is expected to increase further.
Some of the key players operating in global immuno-oncology market are Bristol Myers Squibb, Merck, AstraZeneca, Roche Holding AG, Pfizer Inc., and Incyte Corporation among others.
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Polaris Market Research