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.
To identify the key trends within
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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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Report
Highlights:
·
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
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
- Vaccines
- Checkpoint Inhibitors
- Cell Therapies
- Immune System Modulators
- Adoptive Cell Transfer
- Cytokines
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Head & Neck Cancer
- Blood Cancers
- Liver Cancer
- Lung Cancer
- Breast Cancer
- Prostate Cancer
- Melanoma
- Others
End Use Outlook (Revenue, USD Billion; 2017-2027)
- Cancer Research Centers
- Hospitals
- Clinics
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- Brazil
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