Cancer Immunotherapy Industry Overview
The global cancer immunotherapy market size is likely to reach USD 126.9 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 9.6% during the forecast period. Increasing patient pool and higher mortality rate are augmenting the need for cancer immunotherapy globally. Furthermore, increasing number of approvals for new immunotherapeutic drugs is driving the global market.
Cancer Immunotherapy Market Segmentation
Grand View Research has segmented the global cancer immunotherapy market based on product, cancer type, and region:
Based on the Product Insights, the market is segmented into Monoclonal Antibodies, Immunomodulators, Oncolytic Viral Therapies and Cancer Vaccines.
- Monoclonal antibodies (mAbs) were the most prominent product segment in 2018. Increasing investments in R&D of monoclonal antibodies as naked antigen binding antibodies, conjugated monoclonal antibodies, and bispecific antibodies have opened new avenues of revenue generation for companies that provide oncology therapeutics.
- These R&D activities are resulting in introduction of mAbs that have effects such as adaptive immunity, antigen specificity, and antibody dependent cellular toxicity. Owing to several benefits of mAbs, they are being studied for treatment of various types of tumors.
- Immunomodulators, unlike other chemo-immunotherapy drugs, are used to modulate immune system of patients, which in turn, enhance the activity of immune system against tumors. Immunomodulators such as cytokine modulators and growth factors are nonspecific therapies. These nonspecific therapies are designed to act as immune stimulating agents leading to improved responses against tumor cells.
Based on the Cancer Type Insights, the market is segmented into Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head and Neck Cancer, Ovarian Cancer, Pancreatic Cancer.
- Majority of immunotherapy drugs including few monoclonal antibodies and checkpoint inhibitors are approved for treatment of NSCLC. Monoclonal antibodies successfully prevent formation of new blood vessels by tumor cells, thus facilitating inhibition of an alternative path for growth of tumor cells.
- Checkpoint inhibitors are used as a first-line treatment in patients suffering from advanced lung tumor. Opdivo, Keytruda, and Tecentriq are immunotherapeutic drugs approved for lung tumor. These drugs are usually prescribed in cases of recurrence of tumor post chemotherapy. The aforementioned factors are estimated to bolster the adoption of these drugs.
- Cancer immunotherapies are being increasingly used for melanoma therapeutics. The growth of the melanoma segment can be attributed to development of new products, large number of FDA approvals, and extensive R&D in this field.
- The U.S. FDA has recently approved three checkpoint inhibitors for melanoma treatment, three cytokine therapies, and one oncolytic virus therapy.
Cancer Immunotherapy Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key parameters affecting competitive nature are rapid adoption of advanced treatment options for improved healthcare coupled with rising need for optimum capital utilization. In addition, in an attempt to retain share and diversify product portfolio, major players are frequently adopting mergers & acquisition strategies.
Some prominent players in the global cancer immunotherapy market include
- Amgen Inc.
- F. Hoffman La Roche
- Bayer AG
- Bristol-Myers Squibb
- Eli Lilly and Co.
- Merck and Co.
Order a free sample PDF of the Cancer Immunotherapy Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519