Increasing Cancer Incidence Boosting the Market of Cancer Immunotherapy with Key Players Like Astrazeneca, Bristol-Myers Squibb, F. Hoffmann-La Roche, Janssen Biotech, Merck, And Novartis
Global Cancer Immunotherapy Market is expected to reach the market valuation of USD 174.33 billion by 2027 expanding at a reasonable CAGR of 10.25% during the forecast period (2021-2027) from USD 87.4 billion in 2020. Immunotherapy is a biological therapy that improves the ability of the body’s immune system to detect and attack cancer cells.
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The various factors driving the Cancer Immunotherapy market include the increasing cancer incidence and the growing number of geriatric populations. In 2020, there were an anticipated 19.3 million new cancer cases (18.1 million excluding NMSC, except basal cell carcinoma) and 10 million cancer mortality cases (9.9 million excluding NMSC, except basal cell carcinoma) worldwide. Furthermore, the rising adoption of immunotherapy over other treatment options is also anticipated to drive the market. However, the high cost of treatment and adverse effects of currently available therapies are expected to hinder the growth of the Cancer Immunotherapy market.
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The COVID19 has resulted in a profound re-evaluation of the advantages and costs of cancer care. The pandemic has been a devastating disease worldwide. Although an important number of young healthy people have been affected, elderly, comorbid, and immunosuppressed patients have been especially compromised. For instance, the largest report up until September 30, 2020, came from the COVID-19 and Cancer Consortium (CCC19), that reported 30-day all-cause mortality for 928 patients from the United States, Canada, and Spain with laboratory-confirmed SARS-CoV-2 and a diagnosis of invasive or hematologic malignancy between March 17, and April 16, 2020. Of those receiving anticancer therapy, only 16% (38 patients) had received immunotherapy, including immune checkpoint blockade (ICB), allogeneic stem cell transplant, or adoptive cell therapy.
On the other hand, an Italian study was conducted to investigate the COVID-19 impact on cancer immunotherapy which was unique in its type and very clear in the results. The COVID-19 pandemic seemed not to affect the standard practice in the prescription and delivery of ICIs in Italy as telemedicine was widely used. There was a high consensus to interrupt immunotherapy in SARS-CoV-2–positive patients and to adopt ICIs with longer schedule intervals.
For a detailed analysis of the COVID-19 Impact on Cancer Immunotherapy browse through https://univdatos.com/report/cancer-immunotherapy-market-current-analysis-and-forecast-2021-2027
Based on therapy, the market is fragmented into monoclonal antibodies, vaccines, checkpoint inhibitors, cell therapies, immune system modulators, adoptive cell transfer, cytokines, and others. The monoclonal antibodies segment dominated the market in 2020 and generated total revenue of USD 32.57 billion. It is anticipated to maintain its dominance during the forecast period owing to the diverse set of clinically relevant mechanisms of action like directly targeting tumor cells while simultaneously promoting the induction of long-lasting anti-tumor immune responses. However, the breast cancer segment is expected to witness the highest CAGR during the forecast period.
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The various application wherein cancer Immunotherapy is utilized includes lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head and neck cancer, and others. In 2020, the lung cancer segment accounted for a maximum market revenue share of 25.5% and is expected to remain dominant during the analyzed period. However, the breast cancer segment is anticipated to grow at the highest CAGR over the forecast period and reach a market evaluation of USD 36.10 billion.
Based on end-user, the market is fragmented into cancer specialty/research centers and hospitals & clinics. The cancer specialty/research centers segment dominated the market in 2020 and generated total revenue of USD 55.43 billion. It is anticipated to maintain its dominance during the forecast period. Moreover, the segment is also expected to witness the highest CAGR during the analyzed period.
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Additionally, the report provides detailed initiatives that are being taken in the field of Cancer Immunotherapy. The market is classified into distinct regions North America (United States, and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD 37.56 billion in 2020 owing to the increasing cancer incidence and higher healthcare spending. At the same time, Asia-Pacific is anticipated to grow at the highest CAGR of 11.93% during the forecast period.
AbbVie, Amgen, AstraZeneca, bluebird bio, Bristol-Myers Squibb, F. Hoffmann-La Roche, Janssen Biotech, Merck, Novartis, and Pfizer are some of the prominent players operating in the global Cancer Immunotherapy market. Several M&As along with partnerships have been undertaken by these players to develop Cancer Immunotherapy.
Global Cancer Immunotherapy Market Segmentation
Market Insight, by Therapy
- Monoclonal Antibodies
- Checkpoint Inhibitors
- Cell Therapies
- Immune System Modulators
- Adoptive Cell Transfer
Market Insight, by Application
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Head and Neck Cancer
- Other Cancer Applications
Market Insight, by End-User
- Cancer Specialty/Research Centers
- Hospitals & Clinics
Market Insight, by Region
- North America
- United States
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- bluebird bio
- Bristol-Myers Squibb
- F. Hoffmann-La Roche
- Janssen Biotech