The latest research study “Cancer Immunotherapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global cancer immunotherapy market size reached US$ 96.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 167.5 Billion by 2027 exhibiting a CAGR of 9.10% during 2022-2027.
What is cancer immunotherapy?
Cancer immunotherapy, or immuno-oncology, is a biological therapy used to treat cancer. It alters or boosts the immune system, enabling it to detect and eliminate abnormal cells to prevent the growth of various types of cancer. Cancer immunotherapy uses substances produced by the body or created in a lab to assist the body in fighting cancer. It has fewer side effects and is more precise, effective, and personalized than traditional therapies. Cancer immunotherapy can be used in combination with surgery, radiation, chemotherapy, or targeted therapies to increase their efficacy and prolong the overall survival (OS) and progression-free survival (PFS) of cancer patients. As a result, cancer immunotherapy finds extensive applications in cancer research centers, clinics, and hospitals across the globe to eliminate and control various cancers.
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Cancer Immunotherapy Market Trends and Drivers:
The global cancer immunotherapy market is primarily driven by the rising demand for advanced cancer therapeutics and the increasing prevalence of cancer. Additionally, the shifting patient preferences from traditional chemotherapy toward cancer immunotherapy due to the surging awareness regarding its efficiency and fewer side effects are positively influencing the market growth.
Moreover, the increasing investments by public and private firms in research and development (R&D) activities in cancer immunotherapy is another major growth-inducing factor. Besides this, the rising incidences of multiple myeloma and melanoma have augmented the product demand.
Furthermore, several key players are introducing novel immunotherapy variants with enhanced treatment efficacy and effectiveness, thereby contributing to market growth. Other factors, including the surging adoption of monoclonal antibodies (mAbs), favorable government policies, and rapid expansion in the healthcare industry, are also anticipated to drive the market further.
Global Cancer Immunotherapy Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Cancer Immunotherapy Companies:
Amgen Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Johnson & Johnson, Merck KGAA, Novartis AG, Pfizer Inc., Sanofi, and Seagen Inc.
The report has segmented the market on the basis of region, therapy type, application and end user.
Breakup by Therapy Type:
- Monoclonal Antibodies
- Cancer Vaccines
- Checkpoint Inhibitors
Breakup by Application:
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Head and Neck Cancer
Market Breakup by End User:
- Cancer Research Centers
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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