IMARC Group, a leading market research company, has recently releases report titled “Cancer Immunotherapy Market Report by Therapy Type (Monoclonal Antibodies, Cancer Vaccines, Checkpoint Inhibitors, Immunomodulators, and Others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head and Neck Cancer, and Others), End User (Hospitals, Cancer Research Centers, Clinics, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the cancer immunotherapy market share.
How Big Is the Cancer Immunotherapy Market?
The global cancer immunotherapy market size reached US$ 118.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 261.0 Billion by 2032, exhibiting a growth rate (CAGR) of 8.92% during 2024-2032.
Industry Overview of Cancer Immunotherapy
Cancer immunotherapy, also known as immuno-oncology, is an advanced approach to treat cancer that utilizes the immune system of the body for combating cancer cells. It comprises checkpoint inhibitors, monoclonal antibodies, chimeric antigen receptor (CAR)-T cell therapy, cancer vaccines, and adoptive cell therapy. It is a more targeted and less invasive treatment approach for cancer patients. It can be combined with other cancer treatments, such as chemotherapy and targeted and radiation therapy, to maximize the overall effectiveness of treatment and enhance patient satisfaction and outcomes.
It has the potential to produce long-lasting responses, known as durable remissions. It offers enhanced responses and has fewer side effects as compared to traditional treatments while improving the quality of life of patients. It helps in sparing healthy tissues from damage while selectively attacking cancerous cells. It focuses on enhancing the natural defenses of the body against cancer, unlike traditional cancer treatments, such as chemotherapy and radiation therapy, which directly target cancer cells. It allows the immune system of individuals to identify and destroy cancer cells.
Moreover, it assists in reducing the risk of cancer recurrence and helping patients maintain a cancer-free status for an extended period. As it aids individuals in performing their daily activities efficiently, the demand for cancer immunotherapy is rising across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/cancer-immunotherapy-market/requestsample
What are the growth prospects and trends in the cancer immunotherapy industry?
The increasing awareness among patients and healthcare providers about the benefits of cancer immunotherapy, such as less invasive procedures and higher survival rates, currently represents one of the primary factors propelling the market growth. In line with this, the growing demand for cancer immunotherapy to treat melanoma, lung cancer, and leukemia cancer among the masses is positively influencing the market. Additionally, the rising development of personalized treatment options for cancer to maximize their effectiveness while minimizing side effects is supporting the growth of the market.
Apart from this, there is an increase in the demand for effective and affordable cancer treatments among individuals. This, coupled with the rising adoption of cancer immunotherapy on account of improved healthcare facilities worldwide, is strengthening the market growth. Besides this, advancements in biotechnology, such as gene editing techniques like CRISPR-Cas9, are impelling the market growth. In addition, the increasing commercialization of novel immunotherapies around the world is offering lucrative growth opportunities to industry investors.
Furthermore, the escalating demand for cancer immunotherapy due to improved reimbursement policies for immunotherapy treatments, along with the growing utilization of immunotherapy to address the specific genetic and molecular characteristics of tumors, are offering a positive market outlook. Moreover, the increasing number of clinical trials for new immunotherapeutic agents and combinations is contributing to the growth of the market. The rising adoption of cancer immunotherapy, as it can be administered through injections or infusions and avoids the need for surgery, is bolstering the market growth.
Leading Companies Operating in the Global Cancer Immunotherapy Industry:
Amgen Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, GSK plc, Johnson & Johnson, Merck KGaA, Novartis AG, Pfizer Inc., Sanofi S.A, Seagen Inc.
Cancer Immunotherapy Market Report Segmentation:
The report has segmented the market into the following categories:
Therapy Type Insights:
- Monoclonal Antibodies
- Cancer Vaccines
- Checkpoint Inhibitors
- Immunomodulators
- Others
Application Insights:
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Melanoma
- Prostate Cancer
- Head and Neck Cancer
- Others
End User Insights:
- Hospitals
- Cancer Research Centers
- Clinics
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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