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Global Cancer Immunotherapy Market Insight
2021-12-30 Comments

Product:Cancer Immunotherapy

The market for cancer immunotherapy is forecast to grow at impressive rate over the next five years. According to the World Knowledge Information (WKI) “Global Cancer Immunotherapy Market Insight 2021, Forecast to 2026”, Due to deteriorating lifestyle, smoking, and alcoholism are responsible for increasing the incidence of cancer. Increasing cancer population is the major reason for increasing the global immunotherapy market. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 9.26% base on WKI regression analysis model.

Analysts’ Viewpoint:

“In the past 20 years, significant progress has been made in the field of cancer treatment, and it is expected that continuous innovation will boost development.”, said Terry, Senior analyst, Medical Equipment Market Research Center in WKI,” The emergence of immunotherapy is not only revolutionizing the standard of cancer treatment, but also revolutionizing the concept of cancer treatment. It will certainly occupy a high market share in the future. With the continuous increase in market demand, its market scale is increasing.”

Market Insight:

Approximately 100 different types of cancer have been identified. Cancer is condition of uncontrolled cell growth. Cancer Immunotherapy, on the other hand, helps the immune system to target cancerous tumor cells, which is in fact the natural tendency of the body but tends to weaken with the advent of disease infections. According to W.H.O. cancer is the leading cause of the total number of deaths globally in 2015, and was responsible for 8.8 million deaths in 2015. Statistics suggest that nearly 1 in 6 patients die due to cancer. Due to deteriorating lifestyle, smoking, and alcoholism are responsible for increasing the incidence of cancer. Increasing cancer population is the major reason for increasing the global immunotherapy market. Many therapies are available in the market but the advantage of immunotherapy is its high effectiveness and less side effects as compared to other therapies. This therapy is effective for patients suffering from melanoma cancer when chemotherapy and other radiation therapies do not work.

Competition Landscape:

Some of key the players in the market are F. Hoffmann-La Roche AG, Merck & Co., Inc., Novartis International AG, GlaxoSmithKline Plc., Amgen Inc., Bristol-Myers Squibb, ELI Lilly and Company, Celgene Corporation, Seattle Genetics, Inc., Spectrum Pharmaceuticals, Inc.
Segmentation of Cancer Immunotherapy Market:

On the basis of product, the cancer immunotherapy market has been segmented into monoclonal antibodies, immunomodulators, vaccines, and check point inhibitors. The check point inhibitors segment is estimated to witness the highest CAGR during next few years. The high growth can be attributed to the benefits offered by this therapeutic drug.

By application, the global cancer immunotherapy market is broadly segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, multiple myeloma, melanoma, head & neck cancer, and other types of cancer. The lung cancer was estimated to account for largest share of global cancer immunotherapy market. Due to the increasing number of patients suffering from lung diseases, the lung cancer segment was expected to hold the largest share in the next five years as well.
Cancer Immunotherapy Market: Regional Analysis

In terms of geography, the global cancer immunotherapy market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America held the largest share of the market in 2015, followed by Europe. On the other hand, Asia is anticipated to be the fastest-growing regional segment during the analysis period. The key factors that drive the growth of this market include increase in pool of patient population, rise in prevalence of different types of cancer, and rise in government investments for R&D and the healthcare reforms for the treatment of cancer. Asia-Pacific is expected to emerge as the area with maximum growth potential due to focus of key players in the emerging economies and improving healthcare infrastructure.

CAGR: 9.26%
Largest share area:North America
Largest share country:the United States