Cancer Immunotherapy Market To Witness High Growth Due To Increasing Prevalence Of Cancer By 2025: Grand View Research, Inc.

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The global cancer immunotherapy market is expected to reach USD 118.8 billion by 2025, according to report by Grand View Research, Inc.Increasing patient pool and higher mortality rate are boosting the need for cancer immunotherapy globally.

According to a report published by Grand View Research, Inc.; the global cancer immunotherapy market is anticipated to reach USD 118.8 billion by 2025. Increasing prevalence of cancer is expected to be the major factor fueling the market growth over the forecast period (from 2018 to 2025). Rising focus of healthcare providers on reducing the disease recurrence post chemotherapy by improving the treatment is also likely to drive the market. Moreover, approvals of advanced drugs, such as adjuvants and vaccines will also contribute toward the market development.

Growing number of research and development regarding the utilization of monoclonal bodies as naked antigen binding antibodies, conjugated monoclonal antibodies, and bispecific antibodies have led to the development of new therapeutic options for cancer treatment. Thus, the development of new monoclonal antibodies and HDAC inhibitors intended to treat multiple myeloma is anticipated to drive the market.

Technological developments, such as radiation and nanoparticle therapies, are also supporting the market growth. However, lack of awareness and possible adverse effects, such as gastrointestinal problems, insomnia, nausea, and fatigue, of these drugs may hinder the market growth. The global immunotherapy market can be segmented on the basis of product, cancer type, and region. Based on product, the market can be classified into Monoclonal Antibodies (mAbs), immunomodulators, and oncolytic viral therapies and cancer vaccines.

Full Research Report On Cancer Immunotherapy Market Analysis:

China cancer immunotherapy market by cancer type, 2014 - 2025 (USD Billion)

In 2016, the monoclonal antibodies segment accounted for the major market share as these drugs can be used in the treatment of several types of tumors. Launch of mAbs with capabilities, such as adaptive immunity, antibody dependent cellular toxicity, and antigen specificity, is expected to drive the segment growth. The immunomodulatory segment is gaining traction due to accuracy and effectivity offered by these drugs.

Increasing efforts to introduce new therapies are expected to propel the segment growth in the coming years. Based on cancer type, the market is segmented into lung cancer, colorectal cancer, breast cancer, melanoma, head and neck cancer, prostate cancer, ovarian cancer, and pancreatic cancer. Lung cancer is the leading segment due to increasing adoption of immunotherapeutic drugs in its treatment. The melanoma segment has higher adoption rate of these drugs due to increased R&D for the development new products.

Breast cancer can be treated with surgery, if diagnosed at early stage, followed by other chemotherapeutic treatments. This type of cancer is immunologically silent. Various R&D initiatives, as well as preclinical studies, have been initiated to conclude the efficiency of immunotherapy in breast cancer treatment. Geographically, the market can be divided into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa.

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Global cancer immunotherapy market revenue, by cancer type, 2016 (%)

In 2016, North America accounted for a major revenue share. Growing geriatric population, increasing cases of cancer, and easy access to advanced therapeutics are driving the regional market. However, strict regulations and high costs associated with clinical trials and frequent changes in reimbursement policies may have a negative impact on the region’s development. Europe is anticipated to exhibit the fastest growth during the forecast period due to increasing adoption of advanced cancer therapeutics.

Asia Pacific is projected to grow swiftly on account of growing disease incidence. Advent of advanced drugs, particularly in countries such as Japan and China, are also supporting the region’s growth. Furthermore, high investments in this region by major companies can have a positive impact on its development. Prominent companies in the market include Pfizer Inc.; Merck & Co., Inc.; Amgen, Inc.; Merck & Co., Inc.; and F. Hoffman-La Roche Ltd.

Constant development and launch of new drugs have increased the competition in the market. Most of these companies are involved in strategic mergers and acquisitions to expand their product range and gain higher share in the industry.

Grand View Research has segmented the global cancer immunotherapy market based on product, cancer type, and region:

Product Outlook (Revenue, USD Billion, 2014 – 2025)

  • Monoclonal Antibodies

  • Immunomodulators

  • Oncolytic Viral Therapies and Cancer Vaccines

Cancer Type Outlook (Revenue, USD Billion, 2014 – 2025)

  • Lung Cancer

  • Breast Cancer

  • Colorectal Cancer

  • Melanoma

  • Prostate Cancer

  • Head and Neck Cancer

  • Ovarian Cancer

  • Pancreatic Cancer

Regional Outlook (Revenue, USD Billion, 2014 – 2025)

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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