(PharmaNewsWire.Com, June 10, 2021 ) According to research report the Cancer Immunotherapy Market is projected to reach USD 119.39 Billion by 2021 from USD 61.97 Billion in 2016, at a CAGR of 14.0%.
Report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the market along with the estimates and forecasts of the revenue and market share analysis.
The Lung Cancer application segment is expected to grow at a high CAGR during the forecast period
The current immunotherapies for lung cancer treatment, such as checkpoint inhibitors, monoclonal antibodies, therapeutic vaccines, and other cell therapies, have benefited some patients with advanced lung cancer in the form of durable remission and prolonged survival. The Lung Cancer segment is expected to grow at a high CAGR from 2016 to 2021, owing to the increase in prevalence, patient pool urges a demand for advanced treatment options, and this increases the growth of Cancer Immunotherapy market.
The monoclonal antibody segment is expected to lead the market during the forecast period
Monoclonal antibodies are emerging as the most effective therapeutic agents for the treatment of malignancy. They are currently one of the largest classes of agents approved for the treatment of cancer. Several antibodies are widely adopted, owing to their lesser side effects as compared to chemotherapy. Antibodies are developed to treat several cancers such as lymphoma, leukemia, melanoma, breast cancer, and lung cancer. Cancer monoclonal antibodies are sub-segmented into naked monoclonal antibodies, conjugated monoclonal antibodies, and bispecific monoclonal antibodies.
The hospitals end user segment is expected to account for the largest share of the global Cancer Immunotherapy market
End-users, included in the market are hospitals, clinics and others. The hospitals segment of the market includes private hospitals and public hospitals. The hospitals segment is expected to account for the largest share of the global market in 2016. Rise in healthcare spending has resulted in the increasing use of immuno therapeutic drugs in hospitals and clinics.
Key players in the Cancer Immunotherapy market include Amgen (US), AstraZeneca (UK), F.Hoffman La Roche (Switzerland), BayerAG (Germany), Bristol-myers squibb(US), Eli Lilly and Company (US), Janssen Global Services, LLC (Belgium), Merck (US), Novartis (Switzerland), Pfizer (US)
Geographically, the North American market accounted for the largest share of the global cancer immunotherapy market in 2016. The large share can be attributed to factors such as rising number of patients suffering from cancer, increasing adoption rate of immunotherapy, and development of bioinformatics tools are enhancing the drug development process.
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