Pune, India, June 06, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that worldwide cancer immunotherapy industry which stood at a valuation of USD 119.31 billion in 2021, is expected to register a robust CAGR of 14% through 2028 and accumulate USD 298.55 billion by the end of the forecast timeframe.
The research document highlights growth drivers and opportunities that will aid in broadening the horizon of the market during the analysis timeframe. It also gives commendable insights into certain challenges that may arrest the growth trajectory of the industry, while also divulging precise solutions to circumvent the impact.
Proceeding further, the document provides a detailed overview of different segmentations that are prevalent within the marketplace by individually studying current trends and growth potential of each industry bifurcation followed by a thorough investigation of the competitive framework.
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Increasing prevalence of cancer, rising inclination towards immunotherapy, and the advent of bioinformatics tools aimed at enhancing the process of drug development are the major factors bolstering market growth.
For the uninitiated, cancer immunotherapy is a treatment plan that naturally stimulates and strengthens the immune system of the patient to fight the disease. The procedure can be utilized as a treatment option for a variety of cancers such as lung cancer, melanoma, breast cancer, and colorectal cancer among others.
Speaking of opportunities, various ongoing clinical trials for treatment in emerging economies is expected to enhance revenue flow for the industry during the study period.
However, lack of funds to initiate clinical trials and the expensive nature of treatments are likely to hinder the growth trajectory of the market in the forthcoming years.
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Segmental review: -
By type, worldwide cancer immunotherapy industry is bifurcated as immunomodulators, checkpoint inhibitors, cancer vaccines, and monoclonal antibodies. Speaking of application scope, the industry is categorized into melanoma, colorectal cancer, prostate cancer, head & neck cancer, breast cancer, lung cancer, and others. While various end-users are hospitals, and clinics & others.
Regional expanse overview: -
Asia Pacific, Europe, North America, and Latin America are the major geographies that contribute a significant chunk of the total market revenue. Among these, North America currently boasts of majority industry share, on the back of growing adoption of immunotherapy, and increased focus on the process of drug development.
Meanwhile, Asia Pacific is a promising avenue for increasing profit margins for the industry over 2022-2028, owing to rising consumer base, and growth in developing economies such as India and China.
Competitive framework summary: -
Merck KGaA, Novartis AG, Bayer AG, Amgen Inc., Eli Lilly and Company, F. Hoffmann-La Roche AG, Pfizer Inc., Bristol Myers Squibb, AstraZeneca plc, and Johnson & Johnson are the major players influencing global cancer immunotherapy market trends.
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Global Cancer Immunotherapy Market by Type (Value, USD Billion, 2018-2028)
- Cancer Vaccines
- Immunomodulators
- Checkpoint Inhibitors
- Monoclonal Antibodies
Global Cancer Immunotherapy Market by Application (Value, USD Billion, 2018-2028)
- Colorectal Cancer
- Lung Cancer
- Prostrate Cancer
- Melanoma
- Head and Neck Cancer
- Breast Cancer
- Others
Global Cancer Immunotherapy Market by End User (Value, USD Billion, 2018-2028)
- Clinics & Others
- Hospitals
Global Cancer Immunotherapy Market by Region (Value, USD Billion, 2018-2028)
North America
- Canada
- United States
Europe
- France
- Italy
- Spain
- Germany
- United Kingdom
- RoE
Asia Pacific
- India
- China
- Japan
- South Korea
- Australia
- RoAPAC
Latin America
- Mexico
- Brazil
- Rest of the World
Global Cancer Immunotherapy Market, Company Profiles (Value, USD Billion, 2018-2028)
- Merck KGaA
- Novartis AG
- Bayer AG
- Amgen Inc.
- Eli Lilly and Company
- F. Hoffmann-La Roche AG
- Pfizer Inc.
- Bristol Myers Squibb
- AstraZeneca plc
- Johnson & Johnson
Related Report:
Breast Cancer Therapeutics Market Size, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2028
The breast cancer therapeutics market share is projected to grow rapidly by 2028 on account of the rapidly growing cases of breast cancer around the globe. Additionally, growing prevalence of the disease in low-to middle-income regions, such as Latin America, is also pegged to be a prominent driving factor for the market in coming years. From a regional reference frame, the Middle East & Africa breast cancer therapeutics market is expected to showcase notable growth. The segment was valued at over USD 631 million back in 2021, and is projected to witness significant growth due to high incidence of breast cancer across various countries in the region. Last year, the WHO stated that the latest statistics released by the IARC (International Agency for Research on Cancer), now classifies breast cancer as the most common type of cancer in the world. The disease overtook lung cancer to take this number one spot.
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