Cancer Immunotherapy Market Overview:
Global Cancer Immunotherapy Market is accounted for $45,471 million in 2015, and is estimated to reach $117,114 million by 2022, growing at a CAGR of 14.5% during the analysis period (2016-2022). Cancer immunotherapy is a type of cancer treatment that boosts the human bodys natural immune system to fight against the cancer cells. This therapy is provided to cancer patients to stop the spread of cancer, to slow down the growth of cancer cells, and to improve the natural immunity for destroying the cancer cells.
The key factors that drive the growth of cancer immunotherapy market include rise in incidence & prevalence of cancer, technological advancements in treatment therapies, increase in number of R&D for the treatment of cancer, and specificity & effectiveness of cancer immunotherapy for the treatment of wide range of cancers such as lung cancer, breast cancer, skin cancer, and others. In addition, the rise in healthcare expenditure and healthcare insurance are expected to fuel the market growth during the analysis period. However, shortage of experienced healthcare professionals and lack of awareness among the population restrict the growth.
Cancer Immunotherapy Market Segmentation
Based on technology, the global cancer immunotherapy market is categorized into monoclonal antibodies, cytokines & immunomodulators, and other technologies. Monoclonal antibodies held the highest market share and are expected to grow with the highest growth rate during the forecast period. The rise in adoption of monoclonal antibodies for the treatment of wide range of cancer such as breast cancer, lymphoma, lung cancer, brain cancer, cervical cancer, and others is the key trend that drives the market. Based on application lung cancer dominated the market in 2015 owing to the high incidence rate of lung cancer. According to global cancer statistics, among all the cancer diagnosed, lung cancer holds the highest share of 13% in 2012. By end-user, hospital sector captured the highest market share in 2015, owing to the large number of patients being treated in hospitals for cancer immunotherapy.
Geographically, the global cancer immunotherapy market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share of the market in 2015, followed by Europe. On the other hand, Asia is anticipated to be the fastest-growing regional segment during the analysis period. The key factors that drive the growth of this market include increase in pool of patient population, rise in prevalence of different types of cancer, and rise in government investments for R&D and the healthcare reforms for the treatment of cancer. Asia-Pacific is expected to emerge as the area with maximum growth potential due to focus of key players in the emerging economies and improving healthcare infrastructure.
Worldwide Incidence of Cancer By Type 2012, (Million)
The global population witnessed an alarming surge in diagnosed cancer cases. For instance, according to GLOBOCAN, 14.1 million new cancer cases were diagnosed worldwide in 2012. According to WHO, the growth in cancer incidence is expected to increase by 70% over the next two decades with 22 million new cancer cases. Cancer is highly prevalent in lower and middle income countries as they lack suitable healthcare infrastructure to effectively combat the condition. For instance, according to GLOBOCAN, 57% of 14.1 million new cancer patients diagnosed worldwide in 2012 were from less developed regions. Similarly, 65% of the total worldwide death related to cancer were reported from less developed regions.
Key Market Benefits:
- The study provides an in-depth analysis of the cancer immunotherapy market with current trends and future estimations to elucidate the imminent investment pockets
- The report provides a quantitative analysis from 2014 to 2022 to enable the stakeholders capitalize on prevailing market opportunities
- Extensive analysis by technology and application helps understand various trends and prevailing opportunities in the respective market
- Comprehensive analysis of all geographical regions is provided, which determines the main opportunities in these geographies
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which predict the competitive outlook of the global cancer immunotherapy market
Cancer Immunotherapy Market Key Segment:
- Monoclonal Antibodies
- Cytokines & Immunomodulators
- Others (Immune Checkpoint Inhibitors, Cell Therapy, Oncolytic Virus Immunotherapy)
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Head & Neck Cancer
- Others (Renal Cell Carcinoma, Cervical, Gastric, and Lymphoma)
- Cancer Research Centers
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Major companies operating in this market have adopted collaboration and partnership as their key development strategy. Companies profiled in this market includes, 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., and Astrazeneca plc.
The other players (the profiles of these players are not covered in the report) in the value chain include Seattle Genetics, Peregrine Pharmaceuticals, Amgen Inc., and Viralytics Ltd.