Overview

Cancer Immunotherapy Market is poised to value over CAGR of over 13.8% during the forecast period 2022 to 2028.

Increased acceptance of target therapies over conventional methods, the introduction of biosimilars and growing prevalence of chronic diseases like cancer are some of the key factors contributing to the growth of the market. There has been a rise in the number of research and development activities in the field of cancer immunotherapy which has resulted in the emergence of novel variants that enhance the effectiveness and efficacy of the treatment. Furthermore, the side effects of chemotherapy have led to patients opting for other treatment alternatives which has increased the demand for immunotherapy, thereby assisting in the growth of the market. Moreover, immunotherapies can be used for treating a wide range of cancer types like skin cancer, breast cancer, lung cancer, etc.

Additionally, the increased expenditure on healthcare and improvements in the provision of health insurance shall boost the cancer immunotherapy market growth. However, a lack of skilled healthcare personnel and earth of awareness among the general population shall impede the market growth. The emergence of new class of drugs like histone deacetylase and monoclonal antibodies are designed in such a way that they target the receptors that ae related to myeloma and with the approval of CTLA-4 and PD-1 checkpoint inhibitors for non-small cell lung cancer and melanoma has contributed in boosting the growth of the market.

Market Segmentation:

By Type

Monoclonal Antibodies
Cancer Vaccines
Checkpoint Inhibitors
Immunomodulators

By Cancer Type

Lung Cancer
Breast Cancer
Colorectal Cancer
Melanoma
Prostate Cancer
Multiple Myeloma
Ovarian Cancer
Head and Neck Cancer
Pancreatic Cancer

By End User

Hospital
Cancer Research Centers
Clinics

By Region

North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

The market is classified into type, cancer type, end user and region. The type segment is fragmented into monoclonal antibodies, cancer vaccines, checkpoint inhibitors and immunomodulators. The monoclonal antibodies segment is anticipated to hold the largest cancer immunotherapy market share and this can be credited to a rise in the investments dedicated to the research and development of monoclonal antibodies like conjugated monoclonal antibodies, bispecific antibodies, antigen binding antibodies. These activities have led to the emergence of antibodies that have benefits such as adaptive immunity, cellular toxicity depending on the antibody and antigen specificity. Such advantages have resulted in the proliferation of the market. The immunomodulators segment is predicted to grow at a faster rate during the forecast period as they can enhance the immune system activity against tumors. Non-specific therapies like growth factors and cytokine modulators are developed to perform as agents that stimulate immunity, thereby resulting in the improvement of overall responses against tumors. The cancer type segment is divided into lung cancer, breast cancer, melanoma, colorectal cancer, prostate cancer, multiple myeloma, ovarian cancer, head and neck cancer and pancreatic cancer. The lung cancer segment is expected to lead the market owing to a rise in the number of patients diagnosed with lung cancer and the increased development of checkpoint inhibitors for curing non-small cell lung cancer.

Regional Analysis:

The North America region is expected to lead the global market owing toa rise in the prevalence of chronic diseases like cancer in the region, increased accessibility to advanced therapies along with the rising geriatric population. The Asia Pacific region, on the other hand, is predicted to grow at a faster rate during the forecast period and this is due to increased FDA approvals for novel drugs and therapies and rise in the number of clinical trials for introducing new drugs in countries like India and China, who are experiencing a rise in the geriatric population, thereby raising their chances of increasing the patient pool.

Competitive Landscape:

The key market players involved are F. Hoffmann-La Roche AG, Advaxis Inc., Merck & Co. Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, Pfizer Inc., Novartis AG, Bayer AG, Immunomedics Inc., Astrazeneca plc.

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key market trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global cancer immunotherapy market by product, by cancer type, by end user and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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