Market Overview:
MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Cancer Immunotherapy Market, The Global Cancer Immunotherapy Market is projected to grow at a CAGR of around 13.22% during the forecast period, i.e., 2023-28. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Cancer Immunotherapy Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.
Industry Outlook & Forecasts:
- Forecast Period: 2023-2028
- CAGR (2023-2028): 13.22%
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Global Cancer Immunotherapy Market Segmentation Breakdown:
The Cancer Immunotherapy Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Product Type
- Monoclonal Antibodies
- Immunomodulators
- Oncolytic Viral Therapies and Cancer Vaccines
- Checkpoint Inhibitors
- Others
- By Cancer Type
- Lung Cancer
- Prostate Cancer
- Breast Cancer
- Ovarian Cancer
- Pancreatic Cancer
- Head and Neck Cancer
- Melanoma
- Colorectal Cancer
In 2022, the Lung Cancer segment led the market in terms of revenue by capturing potential market share & is likely to prevail in the same trend in the coming years as well.
- By Mechanism of Actions
- Active Immunotherapy
- Passive Immunotherapy
- By End Users
- Hospitals
- Cancer Research Centers
- Clinics
Geographical Growth Insights:
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
North America led the overall market in terms of revenue owing to the presence of numerous key players and the various strategic initiatives they have undertaken.
MarkNtel Advisors Highlights Key Market Drivers for Cancer Immunotherapy Market:
Increasing Frequency of Approvals Received by Novel Immunotherapies
Increasing acceptance of novel immunotherapies is expected to bode well for market expansion in the coming years. For instance, The U.S. FDA authorized a number of anti-PD-1/L1 antibodies between 2020 and 2022 for the treatment of NSCLC, renal cell carcinoma, melanoma, breast, prostate, and other malignancies. These antibodies include nivolumab, atezolizumab, avelumab, dostarlimab, and others. Therefore, the increased approval of immunotherapeutic drugs has fueled market development in the past few years.
A Comprehensive Analysis of Leading Companies in Global Cancer Immunotherapy Market
- Amgen Inc.,
- Astrazeneca,
- Bayer AG,
- Bristol-Myers Squibb,
- ELI Lilly and Company,
- Janssen Global Services LLC
- Johnson and Johnson),
- Merck,
- Novartis,
- Pfizer, F.
- F. Hoffmann-La Roche AG
Explore More About This Research Report @ https://www.marknteladvisors.com/research-library/global-cancer-immunotherapy-market.html
Cancer Immunotherapy Industry Recent Developments
- In March 2022, Merck & Co., Inc.announced that the US FDA had approved KEYTRUDA, an anti-PD-1 therapy used to treat advanced endometrial cancer.
What are the growth Opportunity driving the Global Cancer Immunotherapy Market?
Growing R&D Efforts to bring innovation in Cancer Immunotherapy Treatments
Numerous government and NGO initiatives that raise awareness and encourage further research are expected to aid the market's maturation. For example, the cancer study institute spent about USD 474 million on the analysis, supporting more than 120 clinical trials. Similarly, the Society for Immunotherapy of Cancer (SITC) is working to advance the understanding and use of oncology immunotherapy to improve patient results. Again, these organizations team with scientists and academics to develop cutting-edge immune therapy treatment plans.
Moreover, the raised funding for novel therapies is anticipated to accelerate R&D efforts to create cancer immunotherapy. For instance, the Cancer Grand Challenges program by the USA National Cancer Institute and Cancer Research UK provided USD13 million in funding to a team of Stanford scientists in June 2022. The funding aims to sponsor the activities such as the creation of new immunotherapies, research into extrachromosomal DNA, and examining early-stage cancers.
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