Bizizz Market Research has recently published a research report, “Cancer Immunotherapy Market By Type (Monoclonal Antibodies, Immunomodulators, Oncolytic Viral Therapies and Cancer Vaccines), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Cancer Immunotherapy Market was valued at US$ XX Bn in 2018 and it is anticipated to reach a market value of US$ 153,809.7Bn by 2027, witnessing a CAGR of 14.5 % during the forecast period. Key drivers of the market are increased awareness among the patients and supporting government initiatives.
The global market of Cancer immunotherapy in treating cancer had gained importance in enhancing the natural immune system of humans for fighting against cancer cells. The therapy is catered to cancer patients reducing spread across the body, could decrease cancer growth, and improve the immunity system naturally to reduce cancer. The cancer immunotherapy market is driven by a rise in cancer cases, technology growth in cancer medical therapies by the contribution of Research & Development in treating cancer, through cancer immunotherapy for different cancers such as breast cancer, lung cancer, skin cancer, and others. It is evident that there is an increase in healthcare expenditure and insurance are expected to plunge cancer immunotherapy market growth during the forecast period. Healthcare professionals and awareness among the customers is less regarding cancer immunotherapy constrains its market growth.
The Cancer Immunotherapy market is anticipated to register a CAGR of over 14.5% during the forecast period.
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By Technology, Monoclonal Antibodies (mAbs) segment held a prominent share in Global Cancer Immunotherapy Market in 2018.
In the treatment of cancer through immunotherapy, the prominence of Monoclonal antibodies (mAbs) segment was significant in 2018. Research & Development in monoclonal antibodies is contributed by huge investments. As these therapies include antigens binding with antibodies, conjugated monoclonal antibodies and bispecific antibodies have stimulated lucrative opportunities for companies involved in oncology therapeutics. The cancer immunotherapy was contributed by Research and development offering mAbs that is high performance in adaptive immunity, antigen specificity, and antibody-based cellular toxicity. The cancer treatments were contributed by advancements in the development of cancer immunotherapy in the global market through R&D. It could include immunomodulators medicine, modulated immune systems of the patients, in improving immune system against tumours. Such Immunomodulators constitutes of cytokine modulators and various growth enablers include nonspecific therapies in nature. These factors are supporting the growth of mAbs for cancer immunotherapy in the global market.
North America is Anticipated to Dominate the Global Cancer Immunotherapy Market during the Forecast Period
The market of Cancer Immunotherapy is leading in the North American region known for its healthcare facilities along with advanced treatments. The regions had modern healthcare industry coupled with increased cancer patients stimulated the market demand for cancer immunotherapy. Geriatric population is high in the North American region that is vulnerable to cancer. Such key factors are supporting an increase in market demand for cancer immunotherapy. The government’s initiatives in this region had supported the advancement in treating cancer.
Global Cancer Immunotherapy Market was moderately consolidated with key players accounting for a significant share in 2018. The organizations offering these treatments are focused on Research and developments to cater to advanced therapeutics are creating lucrative opportunities in the global market.
Prominent players operating in the Global Cancer Immunotherapy Market are Eli Lilly and Co.; F. Hoffman La Roche; Bayer AG; Amgen Inc.; Merck and Co.; Novartis; AstraZeneca; Bristol-Myers Squibb; and Pfizer, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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