The global cancer immunotherapy market is expected to grow at a CAGR of around 10.6% from 2019 to 2026 and expected to reach the market value of around US$ 115.4 Bn by 2026.
Cancer has been increasing widely across the globe and can be medicated by somatic aberration in the host genome. The researchers and scientist discovered the therapy in genetic manipulation to improve cancer regression and find a potential cure for the disease. The cancer immunotherapy boosts the immune system to fight with cancer and made up with organs, tissues, and white blood cells. The main function of cancer immunotherapy is to stop the spread of cancer and slow down the growth of cancer cells and improve the immune system. Based on product, different types of cancer immunotherapy products such as monoclonal antibodies, vaccines, checkpoint inhibitors, cell therapies, and immunomodulators are used. According to WHO, there are about 18 million cancer cases in 2018, in which 9.5 million cases were in men and 8.5 million in women and an estimated 9.6 million deaths in 2018.
The growth of the cancer immunotherapy market is primarily driven by the rising prevalence of cancer, increase in geriatric population across the globe, rise in healthcare expenditure, and technological advancements in cancer immunotherapy. Furthermore, increase in demand and preference for non-invasive treatment and expanding base of cancer patients worldwide, is estimated to boost the market growth. Moreover, supportive government initiatives for cancer therapy, increase in research and development for cancer disease, changing lifestyles of consumers across developed countries, growing pharmaceutical and medical industry, technological advancement and increase in the number of applications are expected to create opportunities for the manufacturers in the global market over the forecast period. However, high treatment costs and low purchasing power of consumers are expected to hamper the growth of the global cancer immunotherapy market in the coming years.
By product type, monoclonal antibodies segment dominated the cancer immunotherapy market
The monoclonal antibodies segment accounted for approximately 27% of the share in the global cancer immunotherapy market in 2018. Increase in demand for treatment in blood cancer, growing investment in development, creating and modification of cells outside body to increase the stability of treatment, and rising incidences of various diseases is further expected to raise segment over the forecast period.
By end-user, hospitals segment dominated the cancer immunotherapy market
The hospitals segment accounted for approximately 61% of the share in the global cancer immunotherapy market in 2018. Growing demand for multi-specialty treatment and devices and cataract procedures and growing consumer preference towards technology advanced surgical procedures performed in hospitals is further expected to raise segment over the forecast period.Owing to its growing number of surgery, growing number of devices requirement in hospitals, and supportive government initiatives for cancer immunotherapy in hospitals further grows the demand for cancer immunotherapy in hospitals applications during the forecast period.
By application, lung cancer segment dominated the cancer immunotherapy market
The lung cancer segment accounted for approximately 34% of the share in the global cancer immunotherapy market in 2018. Geriatric population across the globe and growing incidence of lung disease, and rising demand for safe surgery is further expected to raise segment over the forecast period.
The market research study on “Cancer immunotherapy Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”,offers a detailed insight into the global cancer immunotherapy market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global cancer immunotherapy market, its product type, application, end-user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global cancer immunotherapy market size, and segment markets by product type, application, end-user, and geography along with the information on companies operating in the market. The cancer immunotherapy market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size for different segments has been covered under the scope of the report.
In 2018, North America dominated the regional market with a maximum market share
North America accounted for the high market share of the cancer immunotherapy market and the region is also expected to maintain its dominance over the forecast period. The region is experiencing the maximum growth owing to the rapid consumption of cancer immunotherapy in various end-user applications, the presence of cancer immunotherapy development companies, favorable reimbursement policies, and rapidly growing geriatric population. Highly efficient reimbursement structure and developed healthcare infrastructure in the North America region is one of the key factors driving the consumption of cancer immunotherapy in this region. Moreover, highly skilled neurosurgeons, growing number of hospitals and research centers in key countries such as US and Canada are also propelling the growth of cancer immunotherapy in the North America region.Europe is followed by the North America region in the cancer immunotherapy market.
Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period. The growing prevalence of cancer, increase in innovation and development in cancer immunotherapy, and growing geriatric populations, are expected to enhance the market growth in the global cancer immunotherapy market during the forecast.
The players profiled in the report include Novartis AG, Bayer AG, Amgen Inc., Astrazeneca, and Bristol-Myers Squibb, ELI Lilly and Company, Janssen Global Services, LLC, Merck, Pfizer, F. Hoffmann-La Roche Ltd, and among others. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.
Market By Product Type
Market By Application
Market By End-user
Market By Geography
Middle East & Africa
The main function of cancer immunotherapy is to stop the spread of cancer and slow down the growth of cancer cells and improve the immune system.
Factors such as rising prevalence of cancer, increase in geriatric population across the globe, rise in healthcare expenditure, and technological advancements restrain the cancer immunotherapy market growth.
In 2018, the monoclonal antibodies segment accounted for approximately 27% of the share in the global cancer immunotherapy market.
According to Acumen Research and Consulting, the cancer immunotherapy market value is anticipated to be worth around US$ 62.4 billion in 2026.
The cancer immunotherapy market is anticipated to grow over 5.4% CAGR during the forecast period 2019 to 2026.
The North America is experiencing the maximum growth owing to the rapid consumption of cancer immunotherapy in various end user applications and presence of cancer immunotherapy development companies.
Asia Pacific is projected to grow at a fast pace during forecast period in the cancer immunotherapy market.