The global Cancer Immunotherapy Market is expected to reach USD 153.03 Billion by 2027, according to a new report by Emergen Research.
The global Cancer Immunotherapy Market is expected to reach USD 153.03 Billion by 2027, according to a new report by Emergen Research. The demand for cancer immunotherapy is increasing due to the rising prevalence of cancer globally. As per the World Health Organization (WHO), cancer is the second leading cause of death worldwide. In 2018, around 18.1 million new cancer cases and 9.6 million cancer deaths were reported globally. The increasing prevalence of cancer is one of the major factors driving the growth of the global cancer immunotherapy market.
The other factor contributing to the market growth is the rising government initiatives to create awareness about cancer immunotherapy. For instance, in August 2019, the U.S. Food and Drug Administration (FDA) approved Libtayo (cemiplimab-rwlc) injection for the treatment of patients with metastatic cutaneous squamous cell carcinoma (CSCC) or locally advanced CSCC who are not candidates for curative surgery or curative radiation.
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Moreover, the development of new and improved cancer immunotherapy treatments is another factor projected to drive the growth of the global cancer immunotherapy market during the forecast period. For instance, in May 2019, Regeneron Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (FDA) has granted accelerated approval to Libtayo (cemiplimab-rwlc) injection for the treatment of patients with metastatic cutaneous squamous cell carcinoma (CSCC) or locally advanced CSCC who are not candidates for curative surgery or curative radiation.
However, the high cost of cancer immunotherapy is the major factor restraining the growth of the global cancer immunotherapy market. For instance, Yescarta (axicabtagene ciloleucel), a CAR T-cell therapy manufactured by Kite Pharma, Inc. (Gilead Sciences, Inc.), costs around USD 373,000 for a single treatment. Moreover, the lack of skilled professionals is another factor restraining the growth of the global cancer immunotherapy market.
Some Key Highlights from the Report
- The monoclonal antibodies segment is expected to have the largest market share in 2019 due to their widespread use to treat cancer. Also, the availability of these antibodies as biologic therapies is increasing, which is fueling the growth of this segment.
- The small molecule immunotherapy agents segment is expected to grow at the highest CAGR during the forecast period due to their ability to modulate the immune system and their potential to treat a wide range of cancers.
- The Hospitals and clinics segment is expected to have the largest market share in 2019 due to the increasing number of cancer patients globally, and the rising number of cancer hospitals and clinics. In addition, the segment is expected to grow at the highest CAGR during the forecast period owing to the increasing investments in healthcare infrastructure and expansions by key players in this market.
- The North American region is expected to account for the largest market share in 2019. The large share of this region can be attributed to the high incidence of cancer, the presence of a large number of key players, and the developed healthcare infrastructure in this region.
- The Asia Pacific region is expected to witness the highest growth during the forecast period. The increasing incidence of cancer, the rapidly growing population, and the improving healthcare infrastructure are expected to drive market growth in this region.
- Key participants include Bristol-Myers Squibb, Novartis International Ag, Celgene Corporation, Amgen Inc., Amgen Inc., Merck & Co. Inc., Janssen Global Services, LLC, Seattle Genetics Inc, Printegra, Gristone Oncology, Inc, and Pfizer Inc., among others.
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For the purpose of this report, Emergen Research 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 Specialty Centers
- Hospitals and Clinics
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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