Cancer Immunotherapy Market Growth – at a CAGR of 10.1% by 2028
Rising prevalence of different types of cancer and increasing government investments in R&D activities in the field of cancer immunotherapy are some of the major factors driving Cancer Immunotherapy market revenue growth.
Emergen Research has published its latest report titled “Cancer Immunotherapy Market, By Technology (Monoclonal Antibodies, Vaccines, Checkpoint Inhibitors, Cell Therapies, Immune System Modulators, Adoptive Cell Transfer, Cytokines, Others), By Application (Head & Neck Cancer, Blood Cancer, Liver Cancer, Lung Cancer, Breast Cancer, Prostate Cancer, Melanoma, Others), By End-use (Hospitals and Clinics, Cancer Specialty Centers, Others), and By Region Forecast to 2028”
According to Emergen Research, the global cancer immunotherapy market size was USD 85.92 billion in 2020 and is expected to reach USD 168.48 billion in 2028 and register a revenue CAGR of 10.1% during the forecast period, 2021-2028.
Major factors contributing to the global cancer immunotherapy market revenue growth are rising prevalence of various cancer types around the world, increasing government and private investments in cancer research programs, rise in research & development activities in the field of cancer immunotherapy, and development of advanced cancer cell therapies. Rapid shift from conventional cancer therapeutics to novel cancer immunotherapy drugs, growing demand for advanced biosimilars and monoclonal antibodies for cancer treatment, and increasing regulatory approvals for new cancer immunotherapy drugs are among the other factors supporting revenue growth of the global cancer immunotherapy market.
Advanced research and breakthroughs in the field of immuno-oncology are resulting in increased survival rates, reduced toxicity, and improved therapeutic efficacy. Several novel immunotherapies, such as the CAR T-cell treatment and immunomodulators, are currently being investigated for better patient outcomes.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Monoclonal Antibodies Segment Accounted for Largest Revenue Share in 2020:
Based on technology, the global cancer immunotherapy market is segmented into Monoclonal Antibodies, Vaccines, Checkpoint Inhibitors, Cell Therapies, Immune System Modulators, Adoptive Cell Transfer, Cytokines, and Others. The monoclonal antibodies segment dominated other segments in terms of revenue share in the global market in 2020. Growing need for more effective cancer immunotherapy, development of advanced monoclonal antibodies and biosimilars as new cancer therapeutics, and increase in new product approvals are major factors contributing to the revenue growth of this segment.
Hospitals and Clinics Segment to Account for Fastest Revenue CAGR:
Based on end-use, the global cancer immunotherapy market is segmented into Hospitals and Clinics, Cancer Specialty Centers, and Others. The hospitals and clinics segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Key factors supporting this segment’s revenue growth are growing prevalence of cancer, increasing patient pool, rising demand for highly advanced and effective cancer immunotherapy, and increasing availability of cutting-edge cancer treatment options.
North America Market Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America cancer immunotherapy market accounted for the largest revenue share in the global market in 2020. Revenue growth of the regional market is majorly attributed to factors such as rising burden of cancer, increasing awareness of early detection of cancer, increasing R&D activities in the field of immune-oncology, development of CRISPR-based technologies for cancer treatment, and presence of leading market players in the region, including Bristol-Myers Squibb, Amgen Inc., and Celgene Corporation.
Major Companies in the Global Cancer Immunotherapy Market Include:
- Bristol-Myers Squibb
- Novartis International Ag
- Celgene Corporation
- Amgen Inc.
- Merck & Co. Inc.
- Janssen Global Services, LLC
- Seattle Genetics Inc
- Gristone Oncology, Inc.
- Pfizer Inc.
For the purpose of this report, Emergen Research has segmented the global cancer immunotherapy market on the basis of technology, application, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Monoclonal Antibodies
- Checkpoint Inhibitors
- Cell Therapies
- Immune System Modulators
- Adoptive Cell Transfer
Application Outlook (Revenue, USD Billion; 2018-2028)
- Head & Neck Cancer
- Blood Cancer
- Liver Cancer
- Lung Cancer
- Breast Cancer
- Prostate Cancer
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals and Clinics
- Cancer Specialty Centers
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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