Cancer Immunotherapy Market is Growing at a CAGR of 13.9%, and the Growth is Influenced by Increasing Demand for Cancer Immunotherapy in Hospitals, Cancer Research Centers and Clinics, Coupled With High Investment in R&D | Reports and Data
NEW YORK, September 24, 2019 (Newswire.com) - The Cancer Immunotherapy market is rising rapidly in the global market, owing to the increase in the adoption rate of immunotherapy over the conventional medication systems for higher chances of survival. Incorporating cancer immunotherapy with other cancer treatments has also made possible the immedicable patients to recuperate their new life, which conventional treatments are unable to offer. This, in turn, has made the cancer immunotherapy very sustainable for the end user market, thus making the cancer immunotherapy market grow higher year on year.
In the year 2018, the lung cancer segment witnessed the highest market demand. The massive rate of getting addicted to smoking cigarettes is observed among youngsters, mostly in the Asia-Pacific region. In consequence, the lung cancer market has been measured to dominate the cancer immunotherapy market by application throughout the forecast period.
The North American market is forecast to generate the highest revenue in the year 2026, owing to its superior technological advancements and financial support with the health insurance policies by the government.
The Global Cancer Immunotherapy Market is forecast to reach USD $242.86 billion by 2026, according to a new report by Reports and Data.
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the global cancer immunotherapy market on the basis of technology, application, end users, and region:
Technology Outlook (Revenue, USD Billion; 2016-2026)
- Monoclonal Antibodies
- Checkpoint Inhibitors
- Cell Therapies
- Immune System Modulators
- Adoptive Cell Transfer
Applications Outlook (Revenue, USD Billion; 2016-2026)
- Head & Neck Cancer
- Blood Cancers
- Liver Cancer
- Lung Cancer
- Breast Cancer
- Prostate Cancer
- Other Cancer Types
End Users Outlook (Revenue, USD Billion; 2016-2026)
- Cancer Research Centers
Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America:
- Rest of Asia-Pacific
- Middle east and Africa
- Latin America:
- Rest of Europe
Further key findings from the report suggest
- Amongst application type, lung cancer is likely to continue being the dominator of the market, with almost 29% of market possession in 2026. An increase in the number of cigarette smoking addiction in youth is resulting in the rise in the number of lung cancer cases to grow higher every year and prolonging the lung cancer market's growth.
- Breast cancer is another segment which is forecast to have a larger market share of 22% in the year 2026. The addiction to alcohol and refraining children from breastfeeding in developed and developing countries is increasing the risk of breast cancer and, thus, fueling the cancer immunotherapy market growth.
- Monoclonal antibodies are the antibodies made by identical parent cells, which are nothing but clones. With the mutual attraction of monovalent immunoglobulin antibodies, they are bound to those immune system cells to fight off the cancer cells. Monoclonal antibodies are estimated to have a CAGR of 15.7% during the forecast period.
- Vaccines is the other segment that is also helping the market to grow at a successive CAGR of 14.8%. Therapeutic vaccines are given to boost the body’s natural immune system to work on diagnosing the cancer cells.
- Cytokines work like messengers that promote robust coordination to the targeted antigens in order to produce potent antibodies. The cytokines market is likely to grow at a CAGR of 12.5%.
- Hospitals are the highest contributor to the cancer immunotherapy market with a forecast share of 45.5% in the year 2026. Incorporating cancer immunotherapy in the treatment reduced the number of deaths by cancer, increasing the rate of survival every year in hospitals.
- Cancer research institutes are investing billions of dollars in their R&D in order to invent newer technologies in cancer immunotherapy. This segment is forecast to grow with a CAGR of 16.1% throughout the forecast period.
- North America is predicted to grow with an overall CAGR of 14.1% throughout the forecast period, generating a revenue of USD $105.64 billion by 2026. Government financial support with health insurance and high investment by the cancer research institutes in R&D is helping them dominate the global market.
- Europe is to grow with a CAGR of 13.0% throughout the forecast period, having the highest growth rate in the lung cancer segment.
- APAC is forecast to witness significant growth in the overall market, with a CAGR of 17.2% during the forecast period.
- Key participants include Bristol-Myers Squibb, Novartis International AG, Celgene Corporation, Amgen Inc., Novartis AG, Merck & Co. Inc., Janssen Global Services LLC, Seattle Genetics Inc., Printegra, Gritstone Oncology, Inc.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cancer-immunotherapy-market
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Source: Reports and Data
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