Cancer Immunotherapy Industry Overview
The global cancer immunotherapy market size was valued at USD 58.1 Billion in 2018. Growing adoption of advanced cancer therapeutic options coupled with rising cancer incidence has been one of the primary growth stimulants for the market. Healthcare providers are focusing on improving cancer therapeutic facilities and a reduction in the recurrence rate of tumor post chemotherapy.
Rising R&D activities in the cancer immunotherapy field is resulting in the introduction of advanced variants with enhanced efficacy and effectiveness of treatment. Immuno-oncology have shown promising results with improved survival and lower toxicity. A paradigm shift from traditional chemotherapies to immunotherapies is propelling the overall market.
Gather more insights about the market drivers, restrains and growth of the Global Cancer Immunotherapy Market
Immunotherapies in the pipeline are likely to provide more treatment choices and better outcomes than existing therapies. Introduction of newer drug classes, such as monoclonal antibodies and histone deacetylase (HDAC) inhibitors, designed to target receptors related to multiple myeloma, is poised to shape the future of the market. Ongoing studies on similar drugs intended to minimize adverse effects are projected to spur the growth of the market.
In addition, approval of PD-1 and CTLA-4 checkpoint inhibitors for melanoma and Non-Small Cell Lung Cancer (NSCLC) has been boosting the growth of the market. Approval of innovative immunotherapy drug forms, such as vaccines and adjuvants, is on a rise. Moreover, more immunotherapies are being tested for enhanced outputs, such as immunomodulators and CAR T-cell therapy. These new approvals and ongoing research are anticipated to stimulate the growth of the market over the forecast period.
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Market Share Insights
- May 2022: Bayer has pledged $675,000 (USD) for the Bayer scholarship programme which will fund the university education of sixteen Asian University for Women students.
- May 2022: Novartis data at ASCO and EHA showcase latest oncology research and innovation, including in breast and prostate cancer.
Key Companies profiled:
Some of the prominent players in the global cancer immunotherapy market
- Amgen Inc.
- Astra Zeneca
- Hoffman La Roche
- Bayer AG
- Bristol-Myers Squibb
- Eli Lilly and Co.
- Merck and Co.
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