Cancer immunotherapy is a form of treatment for strengthening the immune system to fight cancerous cells present in the body. Its effectiveness and fewer side effects as compared to conventional therapies can lead to its preference among patients. The global cancer immunotherapy market report by Market Research Future (MRFR) looks at the performance of the treatment as well as its efficacy against changing nature of various cancers for the period of 2018 to 2023 (forecast period).
The global cancer immunotherapy market growth is set to reach USD 101.6 billion by 2023. It can display a CAGR of 14.8% during the forecast period. The incidence of various cancers is the primary driver of the market. According to the World Health Organization (WHO), cancer was accountable for 8.8 million deaths in 2015. The large number of patients with cancer can drive the demand in the market exponentially till 2023.
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The alarming rise of pancreatic cancer and the prevalence of pancreatic ductal adenocarcinoma (PDA) can drive the demand for cancer immunotherapy. It is diagnosed in 460,000 people annually. Efforts by cancer research institutes and development of vaccines to discern the presence of cancerous cells to the immune system for better survival rates will favor the market greatly. The use of checkpoint inhibitors to boost the immune response to these cells and clinical trials for research on better effective drugs can work well in the industry.
Amgen Inc., Spectrum Pharmaceuticals, Inc., F. Hoffmann-La Roche AG, Merck & Co., Inc., Novartis International AG, ELI Lilly and Company, Bristol-Myers Squibb, GlaxoSmithKline Plc., Celgene Corporation, and Seattle Genetics, Inc. are prominent names in the global cancer immunotherapy market.
The global cancer immunotherapy market is segmented by therapy types, application, and end user.
- By therapy type, the global cancer immunotherapy market is segmented into bacillus calmette-guérin, cytokines, monoclonal antibodies, adoptive cell transfer, treatment vaccines, and others. Monoclonal antibodies are further segmented into naked monoclonal antibodies, conjugated monoclonal antibodies, and bispecific monoclonal antibodies. Cytokines are further segmented into interferon (INF) and interleukins (IL). Monoclonal antibodies are lab produced proteins used in marking cancerous cells in the body for triggering strong responses from the immune system.
- By applications of cancer immunotherapy are lung cancer, liver cancer, colorectal cancer, stomach cancer, childhood cancer, and others.
- By End users include hospitals, clinics, and others.
The global cancer immunotherapy market is segmented into four main geographical region, they are North America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
North America and Europe are the biggest revenue generators and highly lucrative for the global cancer immunotherapy market. The market can expand in these regions owing to being suitable for research and development and allocation of funds for research and development.
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APAC, on the other hand, can register the fastest growth rate during the assessment period due to high healthcare expenditure, large patient pool, and rapidly developing healthcare technology. Availability of immunotherapy drugs in the pipeline of pharmaceutical companies can disrupt the global market.
As per the new research by Memorial Sloan Kettering (MSK) Cancer Institute, innate lymphoid cells (ILCs) have the potential to fight pancreatic cancer. ILCs are activated by immunotherapy drugs for commanding tumor cells (T cells) to shrink the size of pancreatic cancer tumors.
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