The Global Cancer Immunotherapy Market is expected to grow at a CAGR of around 13.22% during the forecast period, i.e., 2021-26, says MarkNtel Advisors in their research report. The market growth primarily attributes to the shift from standard chemotherapies and immunotherapies. The main reason for this shift is the undesired side effects & systemic toxicity caused by the standard chemotherapies or other radiotherapies. To overcome them & offer more efficient cancer treatment, different treatment strategies, such as immunotherapy, have been introduced in recent years. It uses immune system features for cancer treatment.
In 2020, Cancer, the one complex disease, caused over 9.9 million deaths. According to GLOBOCON, around 19.29 million patients got diagnosed with cancer last year. Several immunotherapies, including immunomodulators and CAR T-cell treatment, are being investigated for improved outcomes.
For instance, in July 2020, the FDA granted accelerated approval to Tecartus (brexucabtagene autoleucel) for treating adult patients with refractory or relapsed MCL (Mantle Cell Lymphoma).
Recently, in October 2021, the FDA approved Tecartus for adults with B-cell precursor Acute Lymphoblastic Leukemia (ALL), further states the research report, “Global Cancer Immunotherapy Market Analysis, 2021.”
Monoclonal Antibodies to Witness Significant Growth in the Global Cancer Immunotherapy Market
The immune system is composed of a complex molecule to destroy disease-causing agents, such as bacteria and viruses. Similarly, Monoclonal Antibodies (mAbs) help eliminate cancer cells. These are laboratory-produced molecules engineered to modulate the patient’s natural immune system & attack cancer cells by binding to antigens present on them.
Therefore, owing to this property, the demand for mAbs for cancer treatment is significantly increasing. Additionally, snowballing product approvals to consummate the surging requirements for cancer treatments is another crucial aspect that shall propel the demand for mAbs-based immunotherapy in the years to come.
“Global Cancer Immunotherapy Market Analysis, 2021” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
North America Acquired the Largest Share in the Global Cancer Immunotherapy Market
The market growth in North America primarily attributes to the favorable reimbursement policies, rapidly growing geriatric population, and the development of CRISPR technology for cancer treatment. This technology easily modifies gene functions & alters DNA sequences.
Moreover, the rising number of cancer cases, easy access to modern treatment, highly skilled medical professionals, and the well-developed public healthcare system in the US & Canada also drive the regional market.
According to MarkNtel Advisors, the leading industry players in the Global Cancer Immunotherapy Market are Amgen Inc., Astrazeneca, Bayer AG, Bristol-Myers Squibb, ELI Lilly and Company, Janssen Global Services LLC, Johnson and Johnson, Merck, Novartis, Pfizer, F., Hoffmann-La Roche Ltd.
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