- Rise in cancer cases globally is resulting into revenue-generation opportunities in the cancer immunotherapy market
- Presence of sturdy healthcare infrastructure and sizable number of cancer patients drives the North America market
ALBANY, N.Y. , June 27, 2022 /PRNewswire/ — As per the cancer immunotherapy market statistics provided by Transparency Market Research (TMR), the global market is projected to be valued at more than US$ 261.7 Bn by 2031. Moreover, the global market study on cancer immunotherapy notes that market is expected to expand at a CAGR of 13.6% during the forecast period, from 2022 to 2031.
The report by TMR offers in-depth knowledge on different factors influencing the growth of the cancer immunotherapy market. Hence, readers are enlightened on key factors including the growth drivers, investment opportunities, challenges, and ongoing trends of the cancer immunotherapy market.
Players in the cancer immunotherapy market are investing heavily in the R&D projects, which are focused on the development of innovative and effective products. This factor is fueling the expansion of the global market, notes the cancer immunotherapy market outlook by TMR.
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Cancer Immunotherapy Market: Key Findings
- Over the period of past few years, there has been a rise in the number of people suffering from different cancer types such as prostate cancer, blood cancer, breast cancer, melanoma, colorectal cancer, lung cancer, and other minor cancer types. Rise in the prevalence of breast cancer globally is leading to increased need for immunotherapy. This aside, surge in the overall air pollution levels in metropolitan cities and rise in population of smokers across the globe are resulting into increased number of lung cancer patients globally. This factor, in turn, is generating profitable prospects in the global cancer immunotherapy market, according to analysts at TMR.
- Immune checkpoint inhibitors, immune system modulators, and monoclonal antibodies are some of the therapy types available in the global cancer immunotherapy market. Among all, monoclonal antibodies is one of the popular treatment techniques increasingly adopted in the healthcare industry owing to its cost-efficient nature over other therapy options, notes a TMR study on the global cancer immunotherapy market.
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Cancer Immunotherapy Market: Growth Boosters
- Increase in inclination among patients and healthcare professionals toward the use of the target therapy instead of standard options is fueling the sales growth in the market
- Surge in the prevalence of cancer globally is driving sales growth in the cancer immunotherapy market
- Rise in the adoption of the cancer immunotherapy treatment by patients owing to its cost-effective nature as well as lesser side effects is boosting the sales growth in the market
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Cancer Immunotherapy Market: Regional Analysis
- The cancer immunotherapy market is estimated to attract notable business opportunities in North America during the forecast period. This growth is ascribed to many factors including the presence of well-developed healthcare infrastructure, increase in number of cancer patients, rise in adoption of immunotherapy, and expansion of bioinformatics tools that help in advancing the drug development process.
- The cancer immunotherapy market in Asia Pacific is prognosticated to expand at rapid pace during the forecast period owing to rise in the number of clinical trials intended for new cancer treatment drugs and increase in the number of FDA approvals for novel treatment drugs in many regional nations.
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Cancer Immunotherapy Market: Key Players
Some of the key players profiled in the report are:
- Bristol-Myers Squibb Company
- Amgen, Inc.
- GlaxoSmithKline plc
- AstraZeneca plc
- F. Hoffmann-La Roche Ltd.
- Eli Lilly and Company
- Janssen Biotech, Inc.
- Pfizer, Inc.
- Merck & Co., Inc.
- Novartis AG
- Spectrum Pharmaceuticals, Inc.
- Takeda Pharmaceuticals
Cancer Immunotherapy Market Segmentation
- Monoclonal Antibodies
- Immune Checkpoint Inhibitors
- Immune System Modulators
- Cancer Vaccines
- Lung Cancer
- Colorectal Cancer
- Breast Cancer
- Prostate Cancer
- Blood Cancers
- Ambulatory Surgical Centers (ASCs)
- Cancer Research Centers
Regions Covered North America
- Latin America
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Healthcare Industry Reports by Transparency Market Research:
Oncolytic Virus Immunotherapy Market: The oncolytic virus immunotherapy is anticipated to revolutionize the future of cancer treatment. A number of oncolytic virus immunotherapies are in the development phase and likely to hit the oncolytic virus immunotherapy market over the course of the forecast period.
Allergy Immunotherapy Market: Expansion of the global allergy immunotherapy market is attributed to the rise in awareness regarding allergy treatment, rapidly growing allergic population, and launch of new products.
Anticancer Drugs Market: The increasing number of deaths caused due to cancer is a prime factor augmenting the growth of the global anticancer drugs market. Cancer is a gathering of sicknesses related with strange cell development with the possibility to torment or spread to different pieces of the body.
Head and Neck Cancer Market: The global head and neck cancer market is driven by increase in the patient population, rise in health care infrastructure in developing economies, growth of the pharmaceutical industry, surge in research and development activity, increase in product approvals, and rise in government initiatives.
Prostate Cancer Therapeutics Market: The movement of the prostate cancer therapeutics market, however, could be hampered, in light of the reluctance evinced by patients towards premium cancer therapies and drugs.
Breast Cancer Diagnostics Market: High prevalence and increase in incidence rate of breast cancer across the globe and technological advancements in diagnostic techniques are anticipated to fuel the growth of the global breast cancer diagnostics market.
Cancer Diagnostics Market: Increasing trend for preventive diagnosis due to escalating prevalence continues, early diagnosis enables better clinical and economical outcomes for patients are projected to drive the global cancer diagnostics market during the forecast period.
Hyperthermia Cancer Treatment Market: High intensity focused ultrasound (HIFU), nanoparticle heating, and scanned focused ultrasound (SFUS) techniques are broadening revenue streams for companies in the hyperthermia cancer treatment market.
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