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The global cancer immunotherapy market size is estimated to grow by USD 38.57 billion at a CAGR of 7.42% between 2022 and 2027.
The research and development pipeline of monoclonal antibodies is dominated by cancer immunotherapy system indications. Among these, in view of increasing cancer prevalence and the high uptake of monoclonal antibodies as treatment options, oncology appears to be a major therapeutic area for monoclonal antibodies. Both large and small players are investing in the development of monoclonal antibodies, but Novartis has the largest pipeline for monoclonal antibodies. However, a very small fraction of monoclonal antibodies in R&D programs have reached the clinical and marketing phases for anti-infection and neuropharmacological monoclonal antibodies. The adoption of novel therapeutics in cancer immunotherapy is being aided by R and D activities for new technology.
Technavio has segmented the market into Type, Application, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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Monoclonal Antibodies
The market share growth by the monoclonal antibodies segment will be significant during the forecast period. There has been a significant increase in the incidence of cancers globally. Monoclonal antibodies are used for the diagnosis and treatment of many diseases, including some types of cancer. They may be used alone, or they may be carried directly to cancer cells by drugs, toxins, or radioactive substances.
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The monoclonal antibodies segment was valued at USD 34.49 billion in 2017. In recent years, cancer treatment has been revolutionized by introducing several agents, such as monoclonal antibodies. As cancer immunotherapy is a cost-effective treatment, several distributors are developing it. Therefore, such factors will drive the growth of the monoclonal antibodies segment in the global immunotherapy market during the forecast period.
Lung cancer
Lung cancer is a type of cancer that generally begins in the lungs and might spread to lymph nodes or other organs in the body. Factors like increases in smoking, radiation therapy, and others increase the risk factors and the chances of occurrence of lung cancer. One of the most prevalent types of cancer, lung cancer is the main reason for cancer deaths worldwide. Cancer immunotherapy helps in helps in controlling symptoms of advanced or metastatic lung cancer, and also kills cancer cells, and stops lung cancer cells from growing and spreading. The demand for cancer immunotherapy is rising due to rising cigarette usage and lung cancer prevalence worldwide. Therefore, the lung cancer segment will grow in the global cancer immunotherapy market during the forecast period.
Breast cancer
Breast cancer is a type of cancer that develops in the breast cells and progresses in stages. Breast cancer is the most common cancer diagnosed in women in the US. It is typically brought on by hormonal fluctuations, family history, lifestyle choices like drinking too much alcohol, and environmental factors like radiation exposure. Cancer immunotherapy plays a major role in treating breast cancers, It is the best-suited therapy for some of the common types of breast cancers such as recurring, metastatic, and triple-negative breast cancer. Cancer immunotherapy targets certain proteins found on the surface of breast cancer cells and also tries to revive T cells' original ability to combat breast cancer cells. The increasing number of breast cancer cases globally will drive the growth of the cancer immunotherapy market. therefore, the breast cancer segment will grow significantly in the global cancer immunotherapy market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America holds the largest share of the global cancer immunotherapy market owing to the vast investments made in the oncology sector in the US. The US dominates the regional market and acts as the primary revenue generator, followed by Canada. Significant factors supporting the US dominance in this part of the world as well as worldwide are, for example, significant investments in the pharmaceuticals sector, with an emphasis on oncology.
Moreover, Cancer is one of the most common chronic diseases in the US. Thus, with the growing incidences of cancer, vendors will invest in extensive research to develop effective drugs to treat several cancers. As cancer drugs are associated with several side effects, the demand for cancer immunotherapy is expected to increase in the region during the forecast period.
The outbreak of the COVID-19 pandemic drastically affected the US in the region, which, in turn, led to radical changes and disturbances in various medical procedures and treatments in 2020. However, owing to the large-scale vaccination drives conducted by the government in the first half of 2021, lockdown restrictions in various countries in North America were relaxed, which led to the resumption of business activities. Demand for cancer immunotherapies will be fueled by the resumption of various preclinical trials and the use of pharmaceutical products. The increasing investments in the pharmaceutical industry in the region will further enhance the growth of the cancer immunotherapy market in North America during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Amgen Inc. - The company offers cancer immunotherapy solutions such as Oncolytic Immunotherapy, Amgen Oncology
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The high prevalence of cancer is driving growth in the cancer immunotherapy market. Lung, stomach, kidney, head, neck, and larynx cancer can be brought on by poor unhealthy habits, inactivity, and excessive use of tobacco and alcohol. Exposure to ionizing radiations, chemical mutagens, infectious micro-organisms, and environmental pollutants can also lead to cancers.
Moreover, diagnosis and treatment costs are likely to increase as the population ages and more people have cancer. In view of the adoption of new and increasingly costly treatments as a standard of care, costs are also anticipated to increase. To offer improved treatment options, medical facilities need sensitive and reliable diagnostics for accurate and early cancer diagnosis. Molecular and companion diagnostics are popular methods for detecting different cancer types.
The adoption of various strategies for cancer immunotherapy market growth is a key trend in a significant cancer immunotherapy market. With the aim of increasing market share, suppliers are implementing various strategies. They form licensing agreements with other companies to commercialize their products worldwide, particularly in emerging countries.
Moreover, the companies have undertaken to collaborate or acquire in order to increase the global market share of cancer immunotherapies by using the technologies. Vendors also engage in capital investment and avail government support to develop and launch advanced or upgraded devices.
The presence of stringent regulatory policies is a major challenge in the cancer immunotherapy market. The challenge to the growth of the cancer immunotherapies market is that there are strict regulations introduced by regulatory bodies all over the world. The US FDA has imposed stringent restrictions on the marketing approval and manufacturing of biosimilars.
However, the most important aspect is to provide a combination of biological, physicochemical, and clinical data, which are not required for novel drugs in order to demonstrate similarity with reference originators. Other details that vendors must submit include dosage, route of administration, contraindications, warnings, and precautions, which, in turn, incur a high financial burden on the R&D of cancer immunotherapy.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cancer Immunotherapy Market Customer Landscape
The cancer immunotherapy market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Cancer Immunotherapy Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.42% |
Market growth 2023-2027 |
USD 38.57 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.72 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Canada, Germany, France, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amgen Inc., Amneal Pharmaceuticals Inc., AstraZeneca Plc, Bayer AG, Bristol Myers Squibb Co., Dendreon Pharmaceuticals LLC, Eli Lilly and Co., F. Hoffmann La Roche Ltd., Fresenius SE and Co. KGaA, Gilead Sciences Inc., GlaxoSmithKline Plc, Immunocore Holdings Plc, Inovio Pharmaceuticals Inc., Johnson and Johnson, Merck KGaA, Novartis AG, Pfizer Inc., Sanofi, Seagen Inc., and Takeda Pharmaceutical Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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