Press release
Sales Forecasts of Cancer Immunotherapy Market Reveal Positive Outlook Through 2022 - 2032 : Fact.MR
Fact.MR predicts the global sales of cancer immunotherapy to be valued at US$ 310 Bn by registering a CAGR of 10% in the assessment period 2021-2031. The rise in the number of people being diagnosed with cancer along with hospitals providing better facilities is spurring the demand for cancer immunotherapy.Historically, over the last five years, between 2016 and 2020, cancer immunotherapy demand surged at an impressive 14% CAGR, surpassing US$ 104 Bn by the end of the aforementioned period. Due to the onset of COVID-19, work stations across the globe were affected. This, in turn, affected research and developments. With increasing importance towards health, the sales of cancer immunotherapy are expected to retrieve.
Companies are focusing on investing in researching and developing treatments that would have longer benefit on patients. In addition, the prevalence of lung cancer among me and women is increasing preference towards cancer immunology. These factors are increasing the dominance of cancer immunology over conventional treatments.
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Key Segments Covered
Therapy
Monoclonal Antibody Cancer Immunotherapy
Immune Checkpoint Inhibitors
PD-1/PD-L1 Cancer Immunotherapy
CTLA-4 Cancer Immunotherapy
Immune System Modulators
Cancer Immunotherapy Vaccines
Other Cancer Immunotherapies
Cancer Type
Lung Cancer Immunotherapy
Colorectal Cancer Immunotherapy
Breast Cancer Immunotherapy
Prostate Cancer Immunotherapy
Melanoma Immunotherapy
Blood Cancer Immunotherapy
Other Type Cancer Immunotherapies
End User
Cancer Immunotherapy in Hospitals
Cancer Immunotherapy in Ambulatory Surgical Centres
Immunotherapy in Cancer Research Centres
Cancer Immunotherapy in Clinics
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Key Takeaways from the Market Study
By cancer type, lung cancer expected to account for more than 50% of market share for cancer immunotherapy
Asia likely to register CAGR of 10% in the forecast period 2021-2031
North America is expected to account for nearly 40% of market share for cancer immunotherapy
High preference for monoclonal antibodies based cancer immunotherapy, expected to register 9% CAGR through 2031
Hospital to be primary cancer immunotherapy end user, capturing 61% market demand
Competitive Landscape
Prominent market players are capitalizing on conducting extensive clinical trials to verify the efficacy of various immunotherapy approaches, including vaccinations and oral drugs. Additionally, players are funding more research studies to ascertain patterns of cancer prevalence across key geographies.
In September 2021, Amgen Plc. announced its first combination study results from its Phase 1b/2 CodeBreaK 101 study, a comprehensive global clinical development program in patients with KRAS G12C-mutated advanced colorectal cancer. It shows that combining LUMAKRASTM (sotorasib) with Vectibix® (panitumumab) demonstrate efficacy and safety.
In September 2021, Bristol-Myers Squibb Company conducted a survey that included 250 oncologists, surgeons and specialists from countries like U.S., Germany and Japan. The survey revealed the potential immunotherapy carries for cancers that are detected at an early stage.
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