Cancer Immunotherapy is the treatment that uses a patient’s immune system to fight cancer. It works either by boosting the natural immune system of the body to find & attack cancer cells or makes artificial substances similar to the natural immune system and use them to target & destroy cancer cells.
The Global Cancer Immunotherapy Market is anticipated to grow at a CAGR of around 13.22% during the forecast period, i.e., 2021-26, says MarkNtel Advisors. Cancer is a global issue and one of the leading causes of death. According to a GLOBOCON report, nearly 19.29 million patients were diagnosed with cancer in 2020 globally, with around 9.9 million reported deaths.
Rising cancer cases and the potential advantages of immunotherapy, including high effectiveness & fewer side effects compared to standard therapies, are the primary factors driving the Global Cancer Immunotherapy Market.
Cancer immunotherapy is most effective for patients suffering from melanoma cancer where conventional chemotherapy & other radiation therapies are not efficient enough. The global market shall also expand due to the ongoing research & new approvals for cancer immunotherapy. For instance, in May 2020, the National Institute for Health and Care Excellence (NICE) in the UK approved Tecentriq (atezolizumab), an immunotherapy medicine by Roche, for treating patients with triple-negative breast cancer.
The research report, “Global Cancer Immunotherapy Market Analysis, 2021,” states that Cancer is a complex disease caused due to the uncontrolled growth of abnormal cells and the expansion of these cells in the body. The mounting patient pool and higher mortality rate are fueling the need for cancer immunotherapy. Moreover, a paradigm shift from traditional chemotherapies toward immunotherapies is providing a lucrative opportunity for the cancer immunotherapy business to boom.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 13.22% |
| Regions Covered | North America: USA, Canada |
| Europe: Germany, UK, France, Italy, Spain | |
| Asia-Pacific: China, India, Japan, South Korea, Australia and Others | |
| South America: Brazil, Argentina, Mexico | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa, Turkey | |
| Key Companies Profiled | 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. |
| Unit Denominations | USD Million/Billion |
COVID-19 Outbreak Negatively Impacted the Global Cancer Immunotherapy Market
With the rising severity of the COVID-19, the Global Cancer Immunotherapy Market experienced a negative impact on its overall growth. It was primarily due to the shortage & irregular supply of cancer immunotherapy products and the shutdown of most healthcare facilities. The closure of healthcare facilities led to the suspension of most clinical trials & caused delays in diagnosis & treatment, which, in turn, declined the reporting of cancer patients at early stages. Hence, diagnostics at advanced stages of cancer were witnessed, which ultimately increased the mortality rate.
Further, few biopharmaceutical companies announced clinical trial delays. For instance, according to the data from ClinicalTrials.gov, more than 200 interventional oncology studies got suspended in March & April 2020 due to the global crisis. Additionally, approximately 60% of centers in the US reported that trial screening & enrollment were reduced or halted amidst the pandemic.
Moreover, the increased focus of companies worldwide on developing COVID-19 drugs & vaccines also impacted the clinical trials of cancer immunotherapy products & therapies, thereby hindering the market growth.
Market Segmentation
By Product Type:
Demand for Monoclonal Antibodies to Witness Sturdy Growth During 2021-26
Monoclonal Antibodies (mAbs) are artificially produced molecules in the lab that behave as substitute antibodies and enhance & restore the natural immune response. The surging demand for mAbs for cancer immunotherapy owes to their property of modulating the immune system to eliminate cancer cells, coupled with their increasing administrative approvals & higher efficacy than other products. Approximately 570 mAbs have been studied in clinical trials by commercial companies worldwide, among which 79 mAbs, approved by US FDA, are currently on the market, including 30 for cancer treatment.
By Cancer Type:
Lung Cancer Acquired the Largest Share of the Global Cancer Immunotherapy Market
The maximum demand for cancer immunotherapy is to treat patients with Lung Cancer. It owes to the burgeoning number of smokers, coupled with the rapidly emerging trend of E-cigarettes & vapes worldwide, thereby increasing the incidents of lung cancer and, in turn, fueling the need for lung cancer immunotherapy.
As per the Canadian Cancer Society (CCS), approximately 29,800 Canadians were likely to be diagnosed with lung cancer in 2020, i.e., 13% of all new cancer cases. Consequently, around 21,200 Canadians were expected to die from lung cancer in the same year, i.e., 25% of cancer deaths. Hence, it shows immense potential for the lung cancer immunotherapy market in the coming years.
Regional Landscape:
North America Dominated the Global Cancer Immunotherapy Market
The highly developed healthcare sector and various favorable reimbursement policies by the governments of the US & Canada are the prime aspects that led North America to dominate the market. According to a report by GLOBOCAN, there were around 2.28 million new cancer cases & 612,390 deaths due to cancer in the United States in 2020.
Additionally, advancements like the CRISPR technology for genome editing, coupled with expanding geriatric population, rising prevalence of cancer, and ease of access to modern therapeutics in the region, also contribute to overall market growth.
On the other hand, Asia-Pacific is anticipated to observe substantial growth during 2021-26, mainly due to the rapid lifestyle changes and the burgeoning prevalence of highly mutated melanoma, lung, bladder, stomach, & esophageal cancers in the region. However, the high prices of cancer immunotherapy drugs making it available only to the high-income group, coupled with the less coverage of health insurance in Asia-Pacific countries compared to other regions, might restrain the market growth in the region over the forecast years.
Market Dynamics:
Key Drivers
The Growing Occurrence of Cancer to Boost the Market Growth
Cancer is a complex disease that can occur in any organ or tissue due to the uncontrollable growth of abnormal cells. A malignant tumor and neoplasm are other common names for cancer. According to the WHO, cancer is the second largest cause of global deaths, accounting for 19.2 million diagnosed cases and almost 9.9 million deaths in 2020.
The burgeoning cancer incidences are surging the demand for cancer immunotherapy over conventional methods as it reduces toxicity & enhances the survival rate. Further, technological developments, early detection, and quality treatment in developed countries are other crucial aspects that improve survival chances. Moreover, the higher efficacy & effectiveness of cancer immunotherapy is another prominent factor driving the global market.
Possible Growth Challenges
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Cancer Immunotherapy Market is projected to witness around 13.22% CAGR during 2021-26.
A. The demand for Monoclonal Antibodies (mAbs) is projected to witness sturdy growth during 2021-26.
A. North America shall acquire the largest share of the Global Cancer Immunotherapy Market during 2021-26 and present lucrative growth opportunities to the key market players.
A. Rapidly increasing cancer cases, coupled with the potential advantages of immunotherapy, including high efficacy & effectiveness and fewer side effects, are the key factors driving the market during 2021-26.
A. Post-COVID-19 Pandemic, the Global Cancer Immunotherapy Market will grow steadily, owing to the increasing number of patient visits for cancer diagnosis & treatment.
