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(Medical-NewsWire.com, January 13, 2021 ) Market growth factors such as increasing adoption of target therapy over traditional therapy, emergence of biosimilars, increasing demand for mAbs, high prevalence of cancer. Cancer immunotherapy drugs are designed to alter or boost the body’s natural immune response to fight cancer this market is research-driven with a high degree of dependence on the discovery of molecules that can generate an immune response against various indications.
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According to research report the Cancer Immunotherapy Market is projected to reach USD 119.39 Billion by 2021 from USD 61.97 Billion in 2016, at a CAGR of 14.0%.
In this report, the global cancer immunotherapy market has been segmented based on type, application, end user, and region.
On the basis of type, the market has been segmented into monoclonal antibodies, cancer vaccines, checkpoint inhibitors, and immunomodulators. The monoclonal antibodies segment is expected to account for the largest share of the market in 2016, while the checkpoint inhibitors segment is projected to witness the highest CAGR from 2016 to 2021. The high growth in this segment is primarily attributed to the high success rate of these inhibitors.
On the basis of applications, the global cancer immunotherapy market is segmented into lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head & neck cancer, and others. The lung cancer segment is expected to grow at the highest CAGR during the forecast period. The high growth in this segment can be attributed to the increasing prevalence of this type of cancer and rising demand for advanced treatment options.
Based on regions, the global Cancer Immunotherapy market is segmented into North America, APAC, Europe and the Rest of the World (RoW). North America is expected to account for the largest share of the market during the forecast period. Growth in this regional segment is driven by factors such as increase in patient pool, and initiative taken by the government for the development of Cancer Immunotherapy.
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Key players in the cancer immunotherapy market include Amgen (U.S.), AstraZeneca (U.K.), F. Hoffmann-La Roche AG (Switzerland), Bayer AG (Germany), Bristol-Myers Squibb (U.S.), Eli Lilly and Company (U.S.), Janssen Global Services, LLC (Belgium), Merck (U.S.), Novartis (Switzerland), and Pfizer (U.S.).
Mr. Aashish Mehra
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Mr. Aashish Mehra