- Increasing Cancer Incidence Driving the Cancer Immunotherapy Market with Key Players like AstraZeneca, Bristol-Myers Squibb, F. Hoffmann-La Roche, Janssen Biotech, Merck, and Novartis
NOIDA, India, April 26, 2021 /PRNewswire/ -- A comprehensive overview of the Cancer Immunotherapy market is recently added by UnivDatos Market Insights to its humongous database. The Cancer Immunotherapy Market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Cancer Immunotherapy market. The Cancer Immunotherapy market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Cancer Immunotherapy market at the global and regional level. The Global Cancer Immunotherapy Market is expected to grow at a CAGR of 10.25% from 2021-2027 to reach USD 174.33 billion by 2027.
Market Overview
Global Cancer Immunotherapy Market is experiencing significant growth owing to increasing patient pool and higher mortality rate worldwide. 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. Europe accounted for 22.8% of the total cancer cases and 19.6% of the cancer deaths, although it represents 9.7% of the worldwide population, followed by the Americas' 20.9% of incidence and 14.2% mortality globally. However, the cancer deaths share in Asia (58.3%) and Africa (7.2%) were observed to be higher than the share of incidence (49.3% and 5.7%, respectively) because of the different distribution of cancer types and higher case fatality rates in these regions.
Furthermore, increasing R&D research in the field of cancer immunotherapy is contributing to the emergence of innovative variants with improved treatment efficacy and effectiveness. Moreover, immuno-oncology has shown favorable results of increased survival and decreased toxicity. The overall demand is being propelled by a paradigm change away from conventional chemotherapies and toward immunotherapies.
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COVID-19 Impact
The COVID-19 has resulted in a profound reevaluation of the advantages and costs of cancer care. Immunotherapy is becoming a key treatment option in conditions like melanoma, lung cancer, urothelial cancer, renal cancer, and head and neck cancer. During the current outbreak, there has been speculation of a correlation between immune-related adverse events and severe COVID-19. It was speculated that the physiological provocation from immunotherapy-mediated pneumonitis and SARSCoV2-related interstitial pneumonia corresponded. For instance, pneumonitis is the leading cause of hospitalization and death in COVID-19 patients. However, it is also observed to be an adverse event (AE) caused by immunotherapy (IMT), as it occurs in about 2% and 5% of patients undergoing IMT monotherapy and around 10% of patients receiving IMT combination therapy.
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Global Cancer Immunotherapy Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Therapy, the market is primarily bifurcated into
- Monoclonal Antibodies
- Vaccines
- Checkpoint Inhibitors
- Cell Therapies
- Immune System Modulators
- Adoptive Cell Transfer
- Cytokines
- Others
Monoclonal antibodies segment dominated the by type of the global Cancer Immunotherapy market and will grow at 10.29% CAGR to reach US$ 65.13 billion by the year 2027.
By Application, the market is primarily segmented into
- Lung cancer
- Breast cancer
- Colorectal cancer
- Melanoma
- Prostate cancer
- Head and neck cancer
- Other Cancer Applications
Amongst application types, lung cancer accounted for the largest share in 2020 and is expected to grow at a 9.92% CAGR during the forecast period 2021-2027F. However, the breast cancer segment is anticipated to grow at the highest CAGR during the analyzed period and is expected to account for a revenue share of almost 20.71% by 2027.
Cancer Immunotherapy Market Geographical Segmentation Includes:
- North America (United States, Canada)
- Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
- Rest of the World
Based on the estimation, the North America region dominated the Cancer Immunotherapy market with almost US$ 37.56 billion revenue in 2020. At the same time, the Asia-Pacific region is expected to grow remarkably with a CAGR of 11.93% over the forecast period on account of the increasing population and cancer incidence.
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The major players targeting the market includes
- AbbVie
- Amgen
- AstraZeneca
- bluebird bio
- Bristol-Myers Squibb
- F. Hoffmann-La Roche
- Janssen Biotech
- Merck
- Novartis
- Pfizer
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Cancer Immunotherapy market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Cancer Immunotherapy market?
- Which factors are influencing the Cancer Immunotherapy market over the forecast period?
- What are the global challenges, threats, and risks in the Cancer Immunotherapy market?
- Which factors are propelling and restraining the Cancer Immunotherapy market?
- What are the demanding global regions of the Cancer Immunotherapy market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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