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Cancer Immunotherapy Market Revenue To Grow Rapidly With $126.9 Billion By 2026, Due To Rising Adoption of Advanced Cancer Therapeutic Options | Grand View Research, Inc.

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Cancer Immunotherapy Market Revenue To Grow Rapidly With $126.9 Billion By 2026, Due To Rising Adoption of Advanced Cancer Therapeutic Options | Grand View Research, Inc.

June 01
05:12 2022
Cancer Immunotherapy Market Revenue To Grow Rapidly With $126.9 Billion By 2026, Due To Rising Adoption of Advanced Cancer Therapeutic Options | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, 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 cancer immunotherapy industry.

Cancer Immunotherapy Industry Overview

The global cancer immunotherapy market size was valued at USD 58.1 Billion in 2018 and is likely to reach USD 126.9 billion by 2026, exhibiting a CAGR of 9.6% during the forecast period.

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.

Gather more insights about the market drivers, restrains and growth of the Global Cancer Immunotherapy Market

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.

China cancer immunotherapy market size, by cancer type, 2015 - 2026 (USD Billion)

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.

 

Cancer Immunotherapy Market Segmentation

Based on the Product Insights the market is segmented into Monoclonal Antibodies, Immunomodulators, Oncolytic Viral Therapies and Cancer Vaccines

  • Monoclonal antibodies (mAbs) were the most prominent product segment in 2018. Increasing investments in R&D of monoclonal antibodies as naked antigen binding antibodies, conjugated monoclonal antibodies, and bispecific antibodies have opened new avenues of revenue generation for companies that provide oncology therapeutics.
  • Immunomodulators, unlike other chemo-immunotherapy drugs, are used to modulate immune system of patients, which in turn, enhance the activity of immune system against tumors. Immunomodulators such as cytokine modulators and growth factors are nonspecific therapies.

 

Based on the Cancer Type Insights the market is segmented into Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head and Neck Cancer, Ovarian Cancer, Pancreatic Cancer

  • Majority of immunotherapy drugs including few monoclonal antibodies and checkpoint inhibitors are approved for treatment of NSCLC. Monoclonal antibodies successfully prevent formation of new blood vessels by tumor cells, thus facilitating inhibition of an alternative path for growth of tumor cells.
  • Checkpoint inhibitors are used as a first-line treatment in patients suffering from advanced lung tumor. Opdivo, Keytruda, and Tecentriq are immunotherapeutic drugs approved for lung tumor. These drugs are usually prescribed in cases of recurrence of tumor post chemotherapy. The aforementioned factors are estimated to bolster the adoption of these drugs.
  • Cancer immunotherapies are being increasingly used for melanoma therapeutics. The growth of the melanoma segment can be attributed to development of new products, large number of FDA approvals, and extensive R&D in this field.

 

Based on the Regional Insights the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa

  • North America held the largest revenue share in 2018. Rising incidence of the disease, increasing ease of access to modern therapeutics, coupled with expanding geriatric population, are contributing to the growth of the regional market.
  • Asia Pacific is expected to experience the fastest growth during the forecast period. New and advanced immunotherapy drugs are being introduced in China and Japan. These countries have several ongoing clinical trials as well as FDA approvals for new drug molecules and combination therapies. Approval of new treatment drugs in China and Japan are boosting the adoption of immunotherapy for treatment of tumors.

 

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 Profile:

Key parameters affecting competitive nature are rapid adoption of advanced treatment options for improved healthcare coupled with rising need for optimum capital utilization. In addition, in an attempt to retain share and diversify product portfolio, major players are frequently adopting mergers & acquisition strategies.

Some prominent players in the global cancer immunotherapy market include:

  • Amgen Inc.
  • AstraZeneca
  • F. Hoffman La Roche
  • Bayer AG
  • Bristol-Myers Squibb
  • Eli Lilly and Co.
  • Merck and Co.
  • Novartis; and Pfizer

 

Order a free sample PDF of the Cancer Immunotherapy Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com/

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/cancer-immunotherapy-market

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