The global cancer immunotherapy drug discovery outsourcing market size was exhibited at USD 2.11 billion in 2022 and is projected to hit around USD 5.87 billion by 2032, growing at a CAGR of 10.8% during the forecast period 2023 to 2032.
The global cancer immunotherapy drug discovery outsourcing market size was exhibited at USD 2.11 billion in 2022 and is projected to hit around USD 5.87 billion by 2032, growing at a CAGR of 10.8% during the forecast period 2023 to 2032.
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Key Pointers:
- The target identification and validation segment held the largest revenue share of 67.19% in 2022.
- The lung cancer segment dominated the market for cancer immunotherapy drug discovery outsourcing and held the largest revenue share of 25.9% in 2022.
- The prostate cancer segment accounted for the fastest CAGR of 11.2%
- The monoclonal antibodies segment held the largest revenue share of 65.8% in 2022.
- The cancer vaccines and oncolytic viral therapy segment accounted for the fastest CAGR of 11.6% during the forecast period.
- North America dominated the cancer immunotherapy drug discovery outsourcing market and accounted for the largest revenue share of 37.9% in 2022.
- Asia Pacific, the market is expected to witness a lucrative CAGR of 11.9% during the forecast period.
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This growth is due to rising awareness regarding cancer immunotherapy among physicians and patients, increasing investment by biotechnology and pharmaceutical companies to develop cancer treatment, and the increasing prevalence of cancer globally. In addition, there is increasing interest in immunotherapies by pharmaceutical companies as they reduce the risk of cancer and show a reduction in tumor recurrence post-chemotherapy. Moreover, COVID-19 impacted all clinical trial studies however, cancer clinical research was the least impacted owing to the severity of these studies.
The government announced a stay-at-home order to prevent the COVID-19 pandemic that caused disruption and restricted cancer testing and diagnosis, which led to a steep slowdown in referral and treatment for cancer immunotherapies. However, in the second half of 2020, due to the rising prevalence of cancer among people, drug discovery for its treatment started. According to ClinicalTrials.gov, the number of oncology clinical trials stopped in May 2020. However, from November 2020, the stopped clinical trials also resumed, and the COVID-19 vaccine rollout has not affected the trend.
Among the elements promoting the expansion of clinical research firms is expertise in creating medications in particular therapeutic areas and performing clinical trials in different geographic regions. Outsourced research tasks help maximize the resources and time used in the process. New leads are entering the market for cancer immunotherapy drug discovery outsourcing more quickly due to increased R&D initiatives.
Launching advanced therapeutic options such as oncolytic viral therapies, cancer vaccines, HDAC inhibitors, and monoclonal antibodies are expected to create a future potential market. The market for cancer immunotherapy drug discovery outsourcing is growing due to fewer side effects, increased efficacy, and rising demand for the products. The rising investment in R&D by key players in cancer immunotherapy is one of the strategic initiatives adopted. Furthermore, there is an increasing focus on testing therapeutic options such as checkpoint inhibitors, tumor-infiltrating lymphocytes (TILs), immunomodulators, and chimeric antigen receptor (CAR) T-cell therapies for enhanced efficacy. This, in turn, is hindering the growth of the market.
Regional Insights
North America dominated the cancer immunotherapy drug discovery outsourcing market and accounted for the largest revenue share of 37.9% in 2022. 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 11.9% 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.
- Explicyte
- 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 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global cancer immunotherapy drug discovery outsourcing market.
By Drug Type
- Monoclonal Antibodies
- Immunomodulators
- Oncolytic Viral Therapies and Cancer Vaccines
- Others
By Service Type
- Target Identification and Validation
- Lead Screening and Characterization
- Cell-based Assays
By Cancer Type
- Lung
- Breast
- Colorectal
- Melanoma
- Prostate
- Head and Neck
- Ovarian
- Pancreatic
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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