Burlingame, Jan. 23, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global Cancer Immunotherapy Market is estimated to be valued at US$ 102,095.5 million in 2022 and is expected to exhibit a CAGR of 9.9% during the forecast period (2022-2030).
Analyst Views:
The cancer immunotherapy market's growth can be hindered by the presence of alternative treatment methods for cancer, such as CAR T- cell therapy, oncolytic virus therapy, cancer vaccine, acupuncture, yoga, and others. For instance, data published on March 21, 2022, by National Cancer Institute, stated that there are different types of complementary and alternative medicines to treat or manage cancer such as Mind–body therapies, biologically- based practices, manipulative and body-based practices, energy healing, and others.
Key Trends and Analysis of the Global Cancer Immunotherapy Market:
Increasing adoption of inorganic strategies such as acquisitions between the key market players, to increase their product portfolio and presence in the market, is expected to drive the market growth over the forecast period. For instance, in August 2021, Pfizer, a pharmaceutical company announced the acquisition of Trillium, a clinical-stage immuno-oncology company, to strengthen Pfizer’s next-generation, investigational immuno-therapeutics pipeline for hematological malignancies.
Driver:
Increase in the prevalence of cancer
Increasing global prevalence of cancer is expected to drive the growth of the market over the forecast period. For instance, data published in March 2021, on the Globocan, stated that globally there were approximately 2,261,419 cases of breast cancer and 1,931,590 cases of colorectal cancer in 2020.
Increase in the adoption of organic strategies such as product approval
Increasing adoption of strategies such as product approvals by the regulatory bodies is expected to drive the growth of the market over the forecast period. For instance, on February 28, 2022, Janssen Pharmaceutical Company, announced that the U.S. Food and Drug Administration (FDA) had approved CARVYKTI, which is a CAR-T immunotherapy for the treatment of patients with relapsed or refractory multiple myeloma.
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Restraints:
Side Effects of Cancer treatment
Side effects of cancer treatment is expected to hinder growth of the cancer immunotherapy market. For instance, side effects of cancer immunotherapy includes arthritis, hypopituitarism, hypothyroidism, muscle aches, hepatitis, type 1 diabetes, neuropathy, paralysis, meningitis, or encephalitis, and others.
Market Trends:
Increase in the adoption of strategies such as product approval
Increase in the adoption of organic strategies such as product approvals by the regulatory bodies is expected to drive the growth of the market over the forecast period. For instance, on January 20, 2022, Palleon Pharmaceuticals, a company pioneering the field of glyco-immunology to treat cancer and inflammatory diseases, announced that the U.S. Food and Drug Administration had cleared the company’s investigational new drug (IND) application for its lead candidate E-602. This clearance paves the way for Palleon’s first-in-class cancer immunotherapy which targets immunosuppressive sialoglycans to enter clinical testing.
Increasing initiatives by the key players in the market and government
Increasing in the initiatives by the key players and government to help patients with cancer is expected to drive the growth of the market over the forecast period. For instance, in January 2021, The Lung Ambition Alliance, a global coalition with the bold ambition to eliminate lung cancer as a cause of death, started ‘The Initiatives in Lung Cancer Care (ILC2) program’. The aim of the program is to fund projects that drive measurable improvements across the patient journey, starting from early detection to palliative care or survivorship.
Global Cancer Immunotherapy Market Cross Sectional Analysis:
In therapy type, monoclonal antibodies segment is expected to hold a dominant position in North America region over the forecast period, due to the increasing collaboration by the key market players. For instance, on March 16, 2022, Sanofi, a pharmaceutical company, announced collaboration with Seagen Inc, a pharmaceutical company, to design, develop, and commercialize Antibody-Drug Conjugates (ADCs) up to three cancer targets. This collaboration will utilize Sanofi’s proprietary monoclonal antibody (mAb) technology and Seagen’s proprietary ADC technology. ADCs are antibodies that are engineered to deliver potent anti-cancer drugs to tumor cells, expressing a specific protein. Sanofi currently has only one ADC in development.
In application segment, breast cancer segment, is expected to hold a dominant position in North America region due to increasing prevalence of breast cancer in the region. For instance, data published on May 10, 2022, by National Cancer Institute, stated that in the U.S. there were approximately 290,560 new breast cancer cases in 2022.
Key Developments:
In June 2020, Genmab, a pharmaceutical company, announced collaboration with AbbVie Inc., a pharmaceutical company, to jointly develop and commercialize three of Genmab’s early-stage investigational bispecific antibody product candidates and enter into a discovery research collaboration for future differentiated antibody therapeutics for cancer. The companies collaborated to develop Genmab’s next-generation bispecific antibody programs, epcoritamab DuoHexaBody-CD37 and DuoBody-CD3x5T4. This collaboration combined Genmab’s world-class discovery and development engine and next-generation bispecific antibody therapeutic candidates with AbbVie’s deep clinical expertise, innovative antibody-drug conjugate (ADC) platform and global commercial leadership in hematological cancers.
In April 2021, the U.S. Food and Drug Administration approved Opdivo, in combination with certain types of chemotherapy, for the initial treatment of patients with advanced or metastatic gastric cancer, gastro esophageal junction cancer, and esophageal adenocarcinoma. This is the first FDA-approved immunotherapy for the first-line treatment of gastric cancer.
In November 2020, Sanofi, a pharmaceutical company, announced acquisition of Kiadis Pharma, a pharmaceutical company specialized in cell-based immunotherapy products to treat cancer. The acquisition will give Sanofi access to Kiadis’ K-NK-cell platform, which is designed to make products rapidly and economically available for a broad patient population across a wide range of indication. This will strengthen Sanofi’s product portfolio.
On September 9, 2022, Siemens Healthineers, a medical device company, announced partnerships with the Indian Institute of Science (IISc), which is a research university, HealthCare Global Enterprises Ltd (HCG), a healthcare organization and Narayana Health (NH), which is a multispeciality private hospital. Siemens Healthineers will work with all the three organizations in the areas such as advancing cardiovascular care, enhancing the quality of cancer care for the community, and developing fellowship programs in the oncology space.
Key Market Takeaways:
The global cancer immunotherapy market is expected to exhibit a CAGR of 9.9% during the forecast period due to increasing prevalence of cancer. For instance, according to data published in May 2022, by Canadian Cancer Society, which is Canada's national cancer charity organization, estimated that 30,000 Canadians will be diagnosed with lung and bronchus cancer in 2022.
Among application, breast cancer segment is expected to hold a dominant position over the forecast period due to the increase in the awareness initiatives by the key players in the market. For instance, on October 22, 2022, Urban Company, tech-enabled home services company, tied up with HCG Cancer Chain of Hospitals. As a part of this initiative, oncologists from HCG conducted workshops on self-breast-examination to create an awareness on breast cancer.
On the basis of end user, hospital segment is expected to hold a dominant position over the forecast period due to increase in the number of hospitals. For instance, data published in January 2022, by American Hospital Association, stated that in the U.S. there were approximately 6,093 hospitals in 2022.
Competitive Landscape:
Key players operating in the global cancer immunotherapy market include Novartis AG, Merck & Co. Inc., F-Hoffmann La Roche, Eli Lilly and Company, Bayer AG, AstraZeneca, Astellas Pharma Inc., Amgen Inc., OSE Immunotherapeutics SA, and Bristol- Myers Squibb Company
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Market Segmentation:
- Global Cancer Immunotherapy Market, By Therapy Type:
- Monoclonal Antibodies
- Cancer Vaccines
- Immunomodulators
- Immune Check Point Inhibitors
- Other Therapy Types
- Global Cancer Immunotherapy Market, By Application:
- Prostate Cancer
- Breast Cancer
- Skin Cancer
- Lung Cancer
- Other Applications
- Global Cancer Immunotherapy Market, By End Users:
- Hospitals and Clinics
- Cancer Research Centers
- Other End Users
- Global Cancer Immunotherapy Market, By Geography:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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Biologics Market, By Product (Monoclonal Antibodies, Vaccines, Recombinant Hormones/Proteins, Cellular-based Biologics, Gene-based Biologics, and Other Products), By Application (Cancer, Infectious Diseases, Autoimmune Diseases, and Other Applications), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030
Pancreatic Cancer Therapeutics and Diagnostic Market, By Type (Treatment (Targeted Therapies, Chemotherapy, Surgery, and Other Treatments) and Diagnostics (Imaging, Biopsy, Endoscopic Ultrasound, and Other Diagnostics), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
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