Cancer Immunotherapy Market: An Overview
The Global Cancer Immunotherapy Market size is forecast to surpass USD 153.03 billion in 2027 from USD 78.04 billion in 2019, delivering a CAGR of 10.1% over the forecast period. Increased cancer incidence, higher adoption of immunotherapy drugs as compared to standard treatments, increasing investments for monoclonal antibodies and biosimilars development, and more streamlined drug approval scenario, are the key factors driving global cancer immunotherapy market growth.
Government and cancer research institutes are investing in research and development in various cell therapies would drive the market further. As an example , the University of Texas MD Anderson Cancer Center announced positive outcomes to its Phase 1/2a clinical trials for CAR-NK cell therapy for chronic leukemia and Hodgkin’s Lymphoma. Also, Kite, a Gilead company, announced that KTE-X19, their CAR- T therapy, has been authenticated under European Medicines Agency. However, the complicated procedures conducted in cell therapies could be time-consuming and expensive, and this would be a restraint for the market. Strict government regulations are expected to hamper the market over the forecast period.
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Cancer Immunotherapy Market Dynamics
A paradigm shift from traditional chemotherapies to immunotherapies has created a rewarding growth scope for the cancer immunotherapy industry. Immuno-oncology has exhibited encouraging results with lower toxicity and better survival rates. Increasing effectiveness and efficacy of stem cell therapies will boost patient preference for immunotherapy.
In 2018, a report estimated that the global cancer burden recorded 18.1 million new cases and 9.6 million deaths globally. The rising occurrence has prompted various government and cancer research institutes to intensify investment in research & development of varied sorts of cell therapies for the treatment of cancer.
Moreover, various sorts of immunotherapies, like immunomodulators and CAR T-cell therapy, are being examined for improved outputs. The continuing research and new approvals are expected to foster cancer immunotherapy market share over the forecast period.
However, immunotherapy side effects can range from mild up to life-threatening cases owing to certain circumstances of the patients’ health. Severe cases of side effects can occur when an overstimulated immune reaction is experienced. Comparatively, the traditional targeted therapy or chemotherapy can adversely attack non-cancerous cells, leading to hair loss, nausea, and a few other mild to moderate side effects.
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Cancer Immunotherapy Market: Regional Outlook
North America dominated the cancer immunotherapy market with a revenue of USD 66.21 billion in 2019 and is estimated to register a rate of growth of 14.1% through 2027. The expansion is often attributed to rising technological advancements within the medical field, like the event of CRISPR for cancer treatment.
The cancer immunotherapy market report in Europe estimates that the industry will exhibit a CAGR of 13% over the analysis period on account of the introduction of favorable medical reimbursement policies within the region.
The cancer immunotherapy market analysis within the Asia Pacific is anticipated to witness a maximum rate of growth of 17.2% over the forecast period on account of the presence of a huge patient pool affected by various sorts of cancer in India and China.
Cancer Immunotherapy Market: Key Players
• Bristol-Myers Squibb
• Celgene Corporation
• Novartis International Ag, Amgen Inc.
• Merck & Co. Inc.
• Seattle Genetics Inc
• Printegra, Janssen Global Services, LLC
• Gristone Oncology, and Inc
• Pfizer Inc.
Impact of COVID-19 on Cancer Immunotherapy Market:
After the COVID-19 outbreak, a serious concern among the medical profession was contemplating if using cancer immunotherapy in COVID-19 patients would produce to any complications or worsen their conditions. These concerns were set aside by a preliminary analysis at the University of Cincinnati Cancer Center. The initial data indicated that immunotherapy doesn't radically worsen the complications for COVID-19-positive patients with cancer. However, immunotherapy did not prove to be very effective either and therefore put aside as a possible treatment for coronavirus.
Another dramatic change within the healthcare sector occurred by popularity of digitalization. Worldwide lockdowns and therefore the general panic surrounding the rapid spread of the infection made it challenging for patients to go to hospitals, which, in many cases, were treating COVID-19 patients. Thus, to avoid going to hospitals and get access to healthcare, patients and doctors resorted to telemedicine. The crisis created by COVID-19 helped to bring light the benefits of tele-oncology and the way it can curb the fatality of cancer in rural areas where access to healthcare is limited. Cancer immunotherapy market analysis indicates that tele-oncology will open up new growth prospects for the market in the future.
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· Detailed overview of the market
· Evolving cancer immunotherapy market dynamics
· In-depth cancer immunotherapy market classification
· Historical, present, and anticipated cancer immunotherapy market size and share in terms of volume and value
· Recent cancer immunotherapy market trends and advances
· Competitive landscape
· Strategies adopted by key players and products portfolio
· Segments, sub-segments, and geographic regions exhibiting growth prospects
· A neutral and global perspective on cancer immunotherapy market performance
Cancer Immunotherapy Market: Segmentation
For the purpose of this report, Reports and Data has segmented into the Global Cancer Immunotherapy Market on the basis of technology, application, end use, and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Monoclonal Antibodies
- Checkpoint Inhibitors
- Cell Therapies
- Immune System Modulators
- Adoptive Cell Transfer
Application Outlook (Revenue, USD Billion; 2017-2027)
- Head & Neck Cancer
- Blood Cancers
- Liver Cancer
- Lung Cancer
- Breast Cancer
- Prostate Cancer
End Use Outlook (Revenue, USD Billion; 2017-2027)
- Cancer Research Centers
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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