Cancer Immunotherapy Market Overview:
In a recent research report by Market Research Community, the cancer immunotherapy market is expected to surpass USD 271.84 billion by the year 2030, from USD 85.60 billion in 2021.
Immunotherapy for cancer is a type of cancer treatment that helps to boost the immune system to fight against cancer. As immune, it helps the body to fight infection and several diseases. Moreover, this technique has fewer side effects and provides treatment for a wide range of cancer categories such as head and neck cancer, lung cancer, breast cancer, and others.
Surging cancer incidence globally increasing adoption of cancer immunotherapies over other traditional cancer treatments due to increased survival rate and fewer adverse effects with immunotherapy drugs are the factors fueling the growth of the market. Further, the growing proportion of ongoing clinical trials the great assistance of rising investments by major market players, and the development of bioinformatics tools are the factors strengthening the growth of drug development in the cancer immunotherapy market.
The application segment includes lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head neck cancer, and others. Breast cancer is expected to support the growth of the market during the forecast period due to its increasing prevalence in women and low awareness regarding regular breast examinations.
Asia-Pacific is expected to develop at the fastest CAGR throughout the research period, owing to an increase in healthcare spending, an increase in per capita income, and improvements in healthcare infrastructure. Furthermore, due to the region's infrastructural development and increased cancer occurrences, Europe is predicted to obtain the second biggest market share throughout the projection period.
The market is projected to grow at a significant pace reaching a CAGR of approximately 13.7%, over the forecast period of 2022–2030, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
The study is consolidated into major segments and further into sub-segments, such as by technology (monoclonal antibodies, cytokines immunomodulators, others), by application (lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head neck cancer, others) end-use (hospitals, cancer research centers, clinics), to cancer immunotherapy market forecast the market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Amgen, Inc., AstraZeneca, PLC, Bayer AG, Bristol-Myers Squibb Company, Eli Lily and Company, F. Hoffmann-La Roche, Ltd. (Genentech, Inc.), Pfizer, Inc., Johnson Johnson (Janssen Global Services, LLC), Merck KGAANovartis AG
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