Vancouver, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The global Cancer Immunotherapy Market size was USD 84.53 Billion in 2021 and is expected to register a revenue CAGR of 10.4% during the forecast period, according to latest analysis by Emergen Research. The demand for cancer immunotherapy is anticipated to rise in the upcoming years as more people become aware of the various cancer treatment options. The primary driver for the cancer immunotherapy market is the anticipated increase in cancer incidence.
The demand for cancer immunotherapy is anticipated to rise in the upcoming years as more people become aware of the various cancer treatment options. The primary driver for the cancer immunotherapy market is the anticipated increase in cancer incidence. The World Health Organization (WHO) estimates that around 10 million deaths, or almost one in six deaths, would be attributable to cancer in 2020, making it the leading cause of death worldwide. The most common forms of cancer include breast, lung, colon, rectum, and prostate. Additionally, the development of various cell therapies is being funded by government agencies and cancer research facilities, which is boosting market revenue.
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Another significant element fueling the expansion of market revenue is the development of bioinformatics tools to enhance drug development. Biopharmaceutical businesses usually struggle with the choice of protein molecules and drug design, when developing new medications. The use of bioinformatics tools is one of the most significant and successful methods for developing clinical medicine for clinical research & applications and improving outcomes for cancer patients. These techniques also aid in determining the roles that proteins play after mutations, increasing the possibility that the medication will be made successfully. Due to the rising interest in this technique among pharmaceutical, biotechnology, and research institutes to increase the number of cancer immunotherapy research projects, the market for cancer immunotherapy is attracting greater investment.
Scope of Research
| Report Details | Outcome |
| Market size in 2021 | USD 84.53 Billion |
| CAGR (2023–2032) | 10.4% |
| Revenue forecast to 2032 | USD 251.41 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Technology, application, end-use, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Amgen Inc., F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Seagen Inc., Merck & Co., Inc., Novartis AG, Pfizer Inc., Gilead Sciences, Inc., Bayer AG, and Sanofi |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global cancer immunotherapy market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, and introducing more effective therapies. Some major players included in the global cancer immunotherapy market report are:
- Amgen Inc.
- F. Hoffmann-La Roche Ltd
- Bristol-Myers Squibb Company
- Seagen Inc.
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- Gilead Sciences, Inc.
- Bayer AG
- Sanofi
Strategic Development
- On 28 February 2022, the U.S. Food and Drug Administration (FDA) approved CARVYKTI (ciltacabtagene autoleucel; cilta-cel) for the treatment of adults with Relapsed or Refractory Multiple Myeloma (RRMM) two single domain antibodies that target the B-Cell Maturation Antigen (BCMA), after four or more prior lines of therapy, including a proteasome inhibitor, an immunomodulatory agent, and an anti-CD38 monoclonal antibody.
- On 29 July 2020, Beacon Medicare Limited (BML), based in Bangladesh introduced a new drug under the generic name Pembrolizumab, marketed under the brand name ‘Pembroxim,’ in injection form, to aid patients battling the spread of specific cancer kinds around the globe. The drug will be used in immunotherapy for cancers of the stomach, head, and neck, melanoma, and Hodgkin lymphoma. It is advised to inject slowly into the patient’s veins.
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Some Key Highlights from the Report
- The global market for cancer immunotherapy is divided into hospitals, cancer research institutes, and clinics based on end-use. In 2021, the hospital market contributed a sizeable portion of total revenue. This is explained by the rise in patient admissions. Most hospitals place a higher priority on addressing symptoms when it comes to cancer immunotherapy in particular. Modern cancer therapies are provided at these centres that boost patients' immune systems. This group of pharmaceuticals includes cancer vaccinations, cellular therapies, and other experimental drugs. Hospitals continue to be the preferred medical location because they contain the most advanced technology for precise diagnosis and treatment. The level of medical care offered by hospitals has increased as a result of widespread use of innovative therapies, tests, and equipment, which is financed by both public and commercial sources.
- The U.S. Food and Drug Administration (FDA) granted approval for CARVYKTI (ciltacabtagene autoleucel; cilta-cel) on February 28, 2022, for the treatment of adults with relapsed or resistant multiple myeloma (RRMM) following four or more prior lines of therapy, including proteasome inhibitor, immunomodulatory drug, and anti-CD38 monoclonal antibody.
- Pembrolizumab, also known as Pembroxim, is an injection-only new medication that was released on July 29, 2020 by Bangladesh-based Beacon Medicare Limited (BML), to help patients combat the global spread of specific cancer types. The medication will be utilized in immunotherapy for melanoma, Hodgkin lymphoma, stomach, head, and neck malignancies. Injecting is suggested.
Browse the complete Global Cancer Immunotherapy Market Research Report – Industry Analysis, Size, Share, Growth, Trends @ https://www.emergenresearch.com/industry-report/cancer-immunotherapy-market
For the purpose of this report, Emergen Research has segmented the global cancer immunotherapy market based on technology type, end user, application, and region:
- Technology Type Outlook (Revenue, USD Million; 2019-2032)
- Monoclonal Antibodies
- Cytokines & Immunomodulators
- Others
- End user Outlook (Revenue, USD Million; 2019-2032)
- Hospitals
- Cancer Research Centers
- Clinics
- Application Outlook (Revenue, USD Million; 2019-2032)
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Melanoma
- Prostate Cancer
- Head & Neck Cancer
- Others
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of APAC
- LAMEA
- Latin America
- Middle East
- Africa
- North America
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