Covina, Aug. 20, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the global cancer immunotherapy market size is projected to grow from USD 158.5 Billion in 2024 and is forecasted to reach USD 530.2 Billion by 2034, exhibiting a compound annual growth rate (CAGR) of 14.2% during the forecast period (2024 - 2034).
Cancer Immunotherapy Market Report Overview
Cancer Immunotherapy represents a ground-breaking approach to cancer treatment that harnesses the immune system's power to identify and eliminate cancer cells. Unlike traditional therapies such as chemotherapy and radiation which are directly targeted to cancer cells, immunotherapy focuses on boosting or restoring the immune system’s natural ability to fight cancer.
The important principle of cancer immunotherapy is to activate the body’s immune system to recognize and attack cancer cells. Cancer cells often evade immune detection by exploiting various mechanisms that suppress immune response. Immunotherapy aims to overcome these mechanisms and enhance the immune system’s ability to detect and destroy cancer cells.
Download a Free Sample Research Report with Latest Industry Insights: https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/5559
Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The Cancer Immunotherapy Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Amgen, Inc.
- AstraZeneca, PLC
- Bayer AG
- Bristol-Myers Squibb Company
- Eli Lily And Company
- F. Hoffmann-La Roche, Ltd
- Pfizer, Inc.
- Johnson & Johnson Services, Inc.
- Merck & Co., Inc.
- Novartis AG
- Immunocore, Ltd
To Know More on Additional Market Players, Download a Free Sample Report Here: https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/5559
Analyst View:
The market for cancer immunotherapy is expanding rapidly due to the increasing number of approved and emerging treatments. Innovations such as monoclonal antibodies, checkpoint inhibitors, CAR-T cell therapies, and cancer vaccines are broadening the therapeutic arsenal available to oncologists.
Market Dynamics:
Drivers:
Rising Incidence of Cancer
- The growing global incidence of cancer is a major driver for the immunotherapy market. As cancer rates rise due to factors such as aging populations, lifestyle changes, and environmental exposures there is an increasing demand for effective and targeted treatment options.
Request for FLAT 30% Discount on this Report @ https://www.prophecymarketinsights.com/market_insight/Insight/request-discount/5559
Market Trends:
Technological Advancements
- Novel immunotherapies are being developed faster due to developments in genetics and biotechnology. The development and effectiveness of immunotherapy treatments are being improved by the application of cutting-edge technology including next-generation sequencing for personalized treatment plans and artificial intelligence for drug discovery.
Segmentation:
Cancer Immunotherapy Market is segmented based on Product Type, Cancer Type, End-User, and Region.
Product Type Insights
- This sector includes Monoclonal Antibodies, Immunomodulators, Checkpoint Inhibitors, Adoptive Cell Therapy, and Others. The monoclonal antibodies segment is expected to dominate the target market growth as these are laboratory-made molecules designed to bind specifically to certain proteins or antigens present in cancer cells.
Cancer Type Insights
- In the target market lung cancer is the most dominant segment as it is one of the most common and deadly cancers worldwide with a high incidence rate. It represents a significant portion of cancer diagnoses and fatalities making it a critical area for therapeutic intervention.
End-User Insights
- In the target market hospitals are the most dominant segment as hospitals are equipped with advanced medical infrastructure and comprehensive healthcare facilities that are crucial for the administration of cancer immunotherapy.
Request FREE Unlimited Customization on this Report @ https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/5559
Recent Development:
- In February 2024, a team of UF Health Cancer Center researchers developed a first-of-its-kind compound that could open a new avenue for using immunotherapy to treat various types of cancer. In laboratory and mouse testing in skin and colorectal cancer models, the compound slowed the growth of established tumors by unleashing the body’s immune system to attack cancer cells and, in some cases, eradicate the tumors.
Regional Insights
- North America: This region is a major hub for research and development in cancer immunotherapy. Significant investments by pharmaceutical companies, government agencies, and private research institutions drive the development of new therapies and clinical trials.
- Asia Pacific: The rising incidence of cancer in the Asia-Pacific region, driven by factors such as population growth, urbanization, and changing lifestyles, is driving demand for cancer treatments.
Browse Detail Report on "Cancer Immunotherapy Market Size, Share, By Product Type (Monoclonal Antibodies, Immunomodulators, Checkpoint Inhibitors, Adoptive Cell Therapy, and Others), By Cancer Type (Lung Cancer, Colorectal Cancer, Melanoma, Breast Cancer, Head & Neck Cancer, Prostate Cancer, and Others), By End User (Hospitals, Cancer Research Centers, and Others), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/cancer-immunotherapy-market-5559
Browse More Research Reports:
- Molecular Diagnostics Market Size, Share Research Report, 2024
- Biopharmaceutical and Biomedicine Market Size, Share Research Report, 2024
- Healthcare Automation Market Size, Share Research Report, 2024
- Microbiome Sequencing Services Market Size, Share Research Report, 2024
- Stem Cell Banking Market Size, Share Research Report, 2024
About Us:
Prophecy Market Insights is a specialized market research, analytics, marketing, and business strategy, and solutions company that offers strategic and tactical support to clients for making well-informed business decisions and identifying and achieving high-value opportunities in the target business area. Also, we help our client to address business challenges and provide the best possible solutions to overcome them and transform their business.
Prophecy’s expertise area covers products, services, latest trends, developments, market growth factors, and challenges along with market forecasts in various business areas such as Healthcare, Pharmaceutical, Biotechnology, Information Technology (IT), Automotive, Industrial, Chemical, Agriculture, Food and Beverage, Energy, and Oil and Gas. We also offer various other services such as data mining, information management, and revenue enhancement suggestions.
Contact Us:
Prophecy Market Insights
US: 964 E. Badillo Street
#2042 Covina,
CA 91724
US toll-free: +1 860 531 2574
Rest of World: + 91 7775049802
Follow us on LinkedIn | Twitter
