Market Highlights:
Cancer Immunotherapy Market Trends was USD 36.8 billion in 2016 which is expected to grow at a healthy CAGR of 10.40% and reach till USD 180903.25 million by 2030.
Cancer immunotherapy is a form of treatment for strengthening the immune system to fight cancerous cells present in the body. Its effectiveness and fewer side effects as compared to conventional therapies can lead to its preference among patients. The global cancer immunotherapy market report by Market Research Future (MRFR) looks at the performance of the treatment as well as its efficacy against changing nature of various cancers for the period.
The incidence of various cancers is the primary driver of the market. According to the World Health Organization (WHO), cancer was accountable for 8.8 million deaths in 2015. The large number of patients with cancer can drive the demand in the market exponentially till 2023.
The alarming rise of pancreatic cancer and the prevalence of pancreatic ductal adenocarcinoma (PDA) can drive the demand for cancer immunotherapy. It is diagnosed in 460,000 people annually. Efforts by cancer research institutes and development of vaccines to discern the presence of cancerous cells to the immune system for better survival rates will favor the market greatly. The use of checkpoint inhibitors to boost the immune response to these cells and clinical trials for research on better effective drugs can work well in the industry.
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.
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.
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Segmentation:
The global cancer immunotherapy market is segmented by therapy types, application, and end user.
By therapy type, the global cancer immunotherapy market is segmented into bacillus calmette-guérin, cytokines, monoclonal antibodies, adoptive cell transfer, treatment vaccines, and others. Monoclonal antibodies are further segmented into naked monoclonal antibodies, conjugated monoclonal antibodies, and bispecific monoclonal antibodies. Cytokines are further segmented into interferon (INF) and interleukins (IL). Monoclonal antibodies are lab produced proteins used in marking cancerous cells in the body for triggering strong responses from the immune system.
Major applications of cancer immunotherapy are lung cancer, liver cancer, colorectal cancer, stomach cancer, childhood cancer, and others.
End users include hospitals, clinics, and others.
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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