With the growing number of cancer patients coupled with enhanced treatments, the cancer immunotherapy market is magnifying. In 2018, 18.1 million new cases and 9.6 million deaths were reported in 2018. Around one in 5 men and one in 6 women worldwide develop cancer in their lifetime and approximately one in 8 men die and one in 11 women die from cancer.
The different types of immunotherapies used to treat cancer are monoclonal antibodies that direct at tumor-associated antigens, cancer vaccines, immune checkpoint inhibitors that target key proteins involved in immune response such as programmed cell death-1 (PD-1).
According to the MarkNtel Advisors’ research report “Global Cancer Immunotherapy Market Analysis, 2020”, the global market is expected surge at a CAGR of around 13% during 2020-25.
Growing incidence of cancer and the rising number of patients is mounting the investments in cancer immunotherapy. Cancer patients prefer immunotherapies over conventional treatments. The survival rate of treating cancer by immunotherapy is more than conventional therapies, thus, the cancer immunotherapy market is anticipated to grow during 2020-25 at a healthy rate. According to American Association for Cancer Research (AACR), 16% of patients with advanced NSCLC treated with Nivolumab were alive for 5 years after the treatment compared to only 4% of the patients were alive after getting treated by conventional chemotherapy in 2019. Moreover, two main types of cancer therapies are chemotherapy and radiation therapy. Drugs such as Opdivo and keytruda affect the immune system for destroying the oncogenic cells. These drugs attack the cancer cells only in the body. For better efficacy and effective therapeutic actions products such as monoclonal antibodies, checkpoint inhibitors, and cell therapies are widely adopted.
North America had the largest market size for cancer immunotherapy in 2019 owing to the financial support of government, insurance policies and technological advancements. North America is the leading region with the highest number of deaths owing to cancer each year. According to WHO, deaths due to cancer are projected to reach 13 million in 2030 and it is projected that around 10 to 11 million cases would be diagnosed each year in low and middle income countries every year by 2030.
Lung cancer grabbed the largest market share and highest number of deaths accounting to be approximately 18.4%, followed by colorectal cancer about 9.2%, liver and stomach cancer estimated to be around 8.2%, breast cancer around 6.6%, according to WHO. The investments in the treatment of lung cancer immunotherapy is set to surge at a CAGR of around 14% in the forthcoming years, as revealed by MarkNtel Advisors’ in their research report, “Global Cancer Immunotherapy Market Analysis, 2020”.
According to the MarkNtel Advisors the major leading players are AstraZeneca plc, Amgen, Novartis AG, Merck & Co., Inc., Celgene Corporation, Bristol-Myers, Pfizer, Bayer, F. Hoffmann-La-Roche, Squibb among others. FDA approved the use of pembrolizumab for the treatment of advanced gastric cancer Biothera Pharmaceutical in 2017.
“Global Cancer Immunotherapy Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for cancer immunotherapy providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
Industry Segmentation:
1. By Product Type (Monoclonal Antibodies, Immunomodulators, Oncolytic Viral Therapies and Cancer Vaccines)
2. By Cancer Type (Lung Cancer, Prostate Cancer, Breast Cancer, Ovarian Cancer, Pancreatic Cancer, Head and Neck Cancer, Melanoma, Colorectal Cancer)
3. By Region (North America, Latin America, Europe, Middle East and Africa, Asia-Pacific)
4. By Country (United States, Canada, Mexico, Brazil, Argentina, Germany, Italy, United Kingdom, Spain, France, Saudi Arabia, UAE, Turkey, South Africa, China, India, Japan, Australia and South Korea)
5. By Company (AstraZeneca plc, Amgen, Novartis AG, Merck & Co., Inc., Celgene Corporation, Bristol-Myers, Pfizer, Bayer, F. Hoffmann-La-Roche, Squibb)
Key questions answered in the study:
questions answered in the study 1. What are the current and future trends of the global cancer immunotherapy market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the global cancer immunotherapy industry?
6. What are the customer orientation, purchase behavior, and expectations from global cancer immunotherapy suppliers across various regions?