Cancer Immunotherapy Market is forecast to grow at a high rate with growing CAGR of 12.2%

Global Cancer Immunotherapy Market is witnessing a high CAGR growth of 12.2% and is expected to reach USD 192.3 Bn by 2027

The Global Cancer Immunotherapy Market is growing significantly due to the increasing technological advances in cancer therapies and growing access to medical insurance. Moreover, rising advances in imaging area such as non-invasive visualization of specific cells, real-time scanning and use of artificial intelligence in pathology are expected to gain attention in the cancer immunotherapy market during the forecast period. For instance, application of immuno-PET in characterizing T-cells responses to check inhibition. This focuses on plenary session in tumor immunology and immunotherapy. Growing use of Positron Emission Tomography (PET) for imaging immune response is expected to fuel the growth of cancer immunotherapy demand during the forecast period.

Moreover, developments in high-throughput technologies for analyzing mutation antigen profile and activity of cancer cells and use of technology for identifying biomarkers are expected to benefit various immunotherapies in the future. Penetration of technologies in immunotherapies are expected to boost the cancer immunotherapy demand in the market during the forecast period. For instance, in June 2021, Umoja Biopharma (US) raised USD 210 Mn for the development of next generation cancer immunotherapy technology. The company develops cellular immunotherapy platform to reprogram immune cells in vivo. Umoja’s proprietary technology platform is expected to fuel the development of cancer immunotherapy. Rising penetration of technologies in immunotherapy developments is expected to trigger the growth of cancer immunotherapy demand in the market.

Covid-19 pandemic has negatively impacted the growth of the cancer immunotherapy demand in the market. Due to strict government guidelines on movement and social distancing, there was adverse impact on imports and export activities which led to the shortage of cancer immunotherapy products. Moreover, hospitals and clinics focused on covid-19 cases which were rising abruptly across the globe. There was disruption in the supply chain and manufacturing of medical supplies in several countries due to lockdown. Many pharmaceutical companies started manufacturing masks, PPE kits, and other covid-19 accessories to meet the rising demand of the market.

Global Cancer Immunotherapy Market by Region Outlook (Revenue, USD Million, 2021-2027)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Based on region, Asia-Pacific market is expected to witness highest growth during the forecast period due to increasing in number of patients with cancer such as breast cancer, lung cancer and growing investments of public-private companies for R&D. Moreover, upsurge in the healthcare expenditure and rising awareness regarding availability of precise cancer immunotherapy options are expected to propel the growth of cancer immunotherapy demand in the Asian countries during the forecast period. For instance, according to the survey, India is estimated to have ~2 Mn cancer cases and is expected to increase in coming years. The prevalence of cancer among Asian countries is marginally higher as compared to the other regions.

The Global Cancer Immunotherapy Market Segmentation:

Global Cancer Immunotherapy Market by Therapy Type Outlook (Revenue, USD Million, 2021-2027)

• Monoclonal Antibodies
• Cancer Vaccines
• Immunomodulators
• Immune Check Point Inhibitors

Global Cancer Immunotherapy Market by Applications Outlook (Revenue, USD Million, 2021-2027)

• Prostate Cancer
• Lung Cancer
• Skin Cancer
• Breast Cancer
• Others

Global Cancer Immunotherapy Market by End User Outlook (Revenue, USD Million, 2021-2027)

• Hospitals & Clinics
• Cancer Research Centers

Key Findings:

• Based on therapy, immunomodulators segment is expected to observe highest growth during the forecast period
• Based on application, breast cancer segment is expected to witness highest growth during the forecast period
• Based on end user, hospital segment dominated the market in 2020 and expected to maintain same dominance during the forecast period
• Based on region, North America is expected to hold the largest market share during the forecast period. However, Asia-Pacific is expected to witness the highest growth during the forecast period

Company Profiles and Competitive Intelligence

The key players operating in the cancer immunotherapy market are:

• Amgen, Inc.
• Johnson & Johnson
• Eli Lily And Company
• Astrazeneca
• Bayer AG
• Bristol-Myers Squibb Company
• F. Hoffmann-La Roche, Ltd
• Pfizer, Inc.
• Merck KGAA
• Novartis AG
• Celgene Corporation
• Incyte Corporation
• Bluebird bio
• Celldex Therapeutics
• Juno Therapeutics
• Tesaro, Inc
• Kite Pharm
• NewLink Genetics
• ZIOPHARM Oncology

Recent News:

• In October 2020, Nektar Therapeutics (US) announced strategic collaboration with Bristol-Myers Squibb (US) for the development of bempegaldesleukin plus Opdivo into multiple trials. This collaboration is expected to expand the clinical development program for bempeg plus nivolumab from 3 clinical trials for the first line metastatic melanoma. The cost of the trails is expected to be shared by both the companies. This collaboration is expected to leverage the anti-cancer therapy portfolio of the company.
• In April 2020, Fate Therapeutic (US) collaborated with Janseen Biotech to develop CAR T-cell products and iPSC-derived CAR NK candidates for the treatment of cancer. This collaboration expects Janssen to contribute proprietary domains of antigen binding directed up to tumor. This agreement provides rights to the Janseen to exercise an exclusive license for the clinical development and marketing of products. This collaboration is expected to provide a platform to the Fate Therapeutic for the development of anti-cancer candidates.