Cancer Immunotherapy Drug Discovery Outsourcing Market Size Will Attain USD 2.6 BN By 2030
According to Nova one advisor, the global Cancer Immunotherapy Drug Discovery Outsourcing Market Size accounted for USD 1.9 Billion in 2021 and is estimated to achieve a market size of USD 2.60 Billion by 2030 growing at a CAGR of 10.20% from 2022 to 2030.
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- By Service Type, the U.S. Cancer Immunotherapy Drug Discovery Outsourcing market was valued at USD 400.2 million in 2021 and expected to witness growth at a CAGR of 10.9% from 2022 to 2030.
- The monoclonal antibodies segment dominated the market and accounted for the largest revenue share of 67.3% in 2021. This growth is due to high efficacy and a rise in regulatory approvals
- The lead screening and characterization segment is expected to account for the fastest CAGR of 10.5% during the forecast period. This is due to a rise in new and effective ways to decrease the time for effective assays in this segment
- The lung cancer segment accounted for the largest revenue share of 24.0% in 2021. This rise is due to the large number of prevalent effective immunotherapies for this cancer type
- North America dominated the market and accounted for a revenue share of 37.3% in 2021. This is due to a rise in demand for new technologies and an increasing incidence of cancer in the region
The main drivers of this market are the increasing prevalence of cancer Worldwide, increasing investment by pharmaceutical and biotechnology companies in cancer research, and the rise in awareness among people for advanced treatment of cancer.
In the early stages of the COVID-19 pandemic, there was a halt in the growth of the cancer immunotherapy drug discovery market. This decrease in cancer immunotherapy drug discovery is due to the influx of a large number of patients that are infected with COVID-19 and require immediate intensive care and treatment. Also, disruptions in the supply chain, travel restrictions to prevent pandemics, and strict regulations have resulted in delays in the cancer immunotherapy drug discovery market. However, this impact will be significantly reduced by adopting strategic methods taken by pharmaceutical companies and regulatory authorities.
Other drivers of the market are the rising demand for outsourcing of drug discovery, which is increasing rapidly due to low cost as compared to in-house R&D costs, and the use of a tax credit that allows several benefits. For instance, reduces problems that are generally encountered with taxation authorities and it allows pharmaceutical and biotechnology companies to plan effectively their global projects with CRO. Also, the governments are actively participating and taking initiatives for cancer treatment. For instance, in April 2022, the government of India launched 17 hospitals for the treatment of cancer. This is a joint initiative taken by Tata trust and the government, to create an affordable cancer care network.
Also, there is the development of various new molecules for cancer immunotherapy and new immunotherapeutic options such as checkpoint inhibitors, immunomodulators, tumor-infiltrating lymphocytes, and CAR-T cell therapy. Several others are still in the pipeline to check their efficacy against cancer.
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Report Scope of the Cancer Immunotherapy Drug Discovery Outsourcing Market
USD 2.60 Billion by 2030
CAGR of 10.20% from 2022 to 2030
Fastest Growing Market
2022 to 2030
Drug type, service type, cancer type and Region,
Service Type Insights
The target identification and validation segment held the largest revenue share of 67.1% in 2021. Target identification and validation is a crucial step in drug discovery as it helps in identifying molecular structures and validating the therapeutic importance of a particular drug molecule. As immunotherapy is a novel, powerful and effective way to treat cancer, target identification and validation are also thus gaining more importance in this drug development process. Moreover, it is capturing the interest of large pharmaceutical companies. They are investing in new drug development processes. Thus, the market for cancer immunotherapy drug discovery outsourcing is expected to experience the launch of a large number of new drugs, which will have a good effect on early drug discovery procedures and due to this large number of drug target identification of the new drugs are identified and validation procedures for them are being performed.
Based on service type, the market is segmented into target identification and validation, lead screening and characterization, and cell-based assays. The lead screening and characterization segment is expected to witness the fastest CAGR of 10.5% over the forecast period. Lead screening and characterization require a large amount of time for effective functioning. Hence, to reduce this time duration, advanced technology is being used to perform functional assays. The new platform allows for refined lead selection and optimizes screening in less time. Various tools are being introduced, such as ligand identification software, for decreasing time and providing accurate results.
Cancer Type Insights
The lung cancer segment dominated the market for cancer immunotherapy drug discovery outsourcing and held the largest revenue share of 25.3% in 2021. This can largely be attributed to the rising R&D investments and introduction of new drugs for lung cancer prevention, which have increased in the past two decades. For instance, according to the American Cancer Society, the number of new cases of lung cancer is 235,760 in 2021 and it is estimated that in 2022, 236,740 will be registered. Hence, it makes it the most prevalent cancer disease.
The prostate cancer segment accounted for the fastest CAGR of 11.9% in the market for cancer immunotherapy drug discovery outsourcing during the forecast period. This growth can be attributed to the growing prevalence of prostate cancer among males this can be controlled by immunotherapy that produces an effective response against tumor cells and controls the growth of tumor cells. Various immunomodulators are developed such as Dostarlimab (Jemperli), and Pembrolizumab (Keytruda®) to prevent prostate cancer.
Drug Type Insights
The monoclonal antibodies segment held the largest revenue share of 65.3% in 2021. Owing to properties such as monoclonal antibodies having high specificity for the detection of cancer cells, they have high efficacy, only target cancer cells without damaging healthy cells, and also show fewer side effects. Also, a number of technological advancements are going on for MABs development, a large number of funding by pharmaceutical companies, and driving regulatory approvals for this market.
The cancer vaccines and oncolytic viral therapy segment accounted for the fastest CAGR of 11.3% during the forecast period. This is due to the rise in R&D investment in this field and showing advanced innovation development in this field. Also, oncolytic viral therapy can be combined with cancer immunotherapies including CAR-T therapy, ICB, cancer vaccines, and bispecific T cell engagers (BiTEs) that produce desired response and helps in preventing cancer. Based on drug type this segment is divided into monoclonal antibodies, immunomodulators, cancer vaccines and oncolytic viral therapy, and others. The others include T-cell transfer therapy and immune checkpoint inhibitors.
North America dominated the cancer immunotherapy drug discovery outsourcing market and accounted for the largest revenue share of 37.3% in 2021. This market is likely to grow due to the presence of a large number of pharmaceutical and biotech companies and key CROs in the region. Also, the presence of prominent market players in the region and government support for cancer immunotherapy drug discovery outsourcing is further promoting market growth. For instance, the U.S. government has reinitiated Cancer Moonshot due to a large number of investments in cancer therapeutics, diagnostics, and patient-driven care. The main aim of this is to reduce the death rate from cancer in the U.S. over the next 25 years by at least 50%.
In Asia Pacific, the market is expected to witness a lucrative CAGR of 11.7% during the forecast period. This is due to the increasing number of CROs that offers cost-effective drug discovery services, the rise in the use of advanced technology, and a large number of market players who comply with Good Laboratory Practices (GLP) and follows regulatory guidelines effectively.
Some of the prominent players in the Cancer Immunotherapy Drug Discovery Outsourcing Market include:
- Covance, Inc.
- Aquila BioMedical
- Horizon Discovery Group PLC
- Crown Bioscience, Inc.
- Promega Corporation
- HD Biosciences Co., Ltd.
- BPS Bioscience, Inc.
- Genscript Biotech Corporation
- DiscoverX Corporation
- Celentyx Ltd.
- ImmunXperts SA
- Personalis, Inc.
- STC Biologics
- Molecular Imaging, Inc.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Cancer Immunotherapy Drug Discovery Outsourcing market
- Drug Type
- Monoclonal Antibodies
- Oncolytic Viral Therapies and Cancer Vaccines
- Service Type
- Target Identification and Validation
- Lead Screening and Characterization
- Cell-based Assays
- Cancer Type
- Head and Neck
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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