Cancer Immunotherapies Market To Be Valued At $112.1 Billion By 2022

By   | January 23, 2017 |   Price: 4950  |   Category: Pharmaceuticals
  • The global cancer immunotherapies market is expected to reach value of USD 112.1 billion by 2022, growing at a CAGR close to 24% over the forecast period. It reportedly stood at USD 16.9 billion in 2015. It will enjoy good returns on account of various cancer-related diseases. These diseases include melanoma, ovarian cancer, breast cancer, and non-small cell lung cancer (NSCLC).

    Cancer immunotherapy (treatment) uses drugs to stimulate one’s own immune system to fight or defend against cancer cells. Many tumors exhibit antigens which can be identified by the immune system as cancerous. But some of these cells avoid detection and can grow within the body. This treatment is highly effective against these cancers & has low chances of recurrence. Its high efficiency is expected to drive the overall market demand.

    The worldwide cancer immunotherapies market is segmented on the basis of immunotherapy types, vaccines, end-users, and regions. Immunotherapy types comprise monoclonal antibodies (mAbs), immune checkpoint inhibitors, immunomodulators, and others. Others include interferons, cytokines, interleukins, and granulocyte macrophage-colony stimulating factor (GM-CSF).

    For Market Research Report on “Global Cancer Immunotherapies Market” Visit – http://www.radiantinsights.com/research/global-cancer-immunotherapies-market-to-2022

    mAbs had a large market share in 2014 on account of targeting specific tumor-associated antigens (TAA). Many mAbs drugs have been given U.S. FDA (Food & Drug Administration) approvals, which will encourage product growth over the forecast period. It will be a lucrative segment on account of continuous developments of over expressed antigens and combination antibodies. Immunomodulators are drugs which can regulate the immune system. They work in tandem with chemotherapy to fight repress cancer. 1-methyl-tryptophan is an immunomodulator which can kill 2,3 dioxygenase (IDO), a cell which causes T-cells to malfunction in the immune system.

    Vaccines encompass prevention and treatment vaccines. The former held a lion’s share of the global market in 2014 owing to the prevalence of various cancers. It will show rapid growth over the next eight years due to rising cancer cases & awareness regarding their treatment and diagnosis.

    Major market end-users are clinics, hospitals, cancer research institutes, and ambulatory surgery centers (ASCs). Hospitals will acquire huge market shares in 2016 due to the increasing use of immunotherapeutic drugs. They also encourage patients to participate in the clinical trials of the latest drugs. Thus, this sector will be lucrative for industry players to distribute their latest products.

    On the basis of regions, the cancer immunotherapies market is divided into North America, Latin America, Asia Pacific (APAC), Middle East & Africa (MEA), and Europe. North America led the worldwide market in 2014 on account of increasing death rates in the region. The geriatric populace and reimbursement plans which cover expensive cancer therapies have boosted market demand regionally.

    APAC will be the fastest growing market owing to the increased healthcare budgets of many developing countries. The ease of doing business in China and India has led to many manufacturers setting up base in the region.

    Key market players are AstraZeneca plc; Novartis AG; Bristol-Myers Squibb (BMS); and Amgen Inc. Collaborations and mergers are common strategies adopted by these players to expand their presence and expand their portfolio.

    AstraZeneca, a British-Swedish pharmaceutical company, had partnered with Celgene, an American biotechnology company in 2015 for a USD 450 million deal for its programmed cell death ligand 1 drug (“MEDI4736”). These drugs can be used for treating NSCLC, head, and neck cancer. This will allow AstraZeneca to successfully enter the blood cancer market. Outsourcing the research and development of drugs is another market strategy which allows these players to launch new products into the cancer immunotherapies market.

    Cancer Immunotherapies Market

    Information Source: Radiant Insights

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