Global Cancer Immunotherapy Market Sales to Cross $200 Billion by 2030, at 10% CAGR - Achilles Therapeutics plc., Alacrita Holdings Limited, Bioalta, Evolveeimmune Therapeutics

Market Insights

Cancer immunotherapy market is expected to grow at a CAGR between 9-10% from 2022 to 2030 as this therapy is being rapidly adopted in the cancer treatment space. The major market drivers such as higher efficiency of cancer immunotherapy than traditional cancer treatments, rise in global cancer burden, initiatives by government cancer care funding, and easy reimbursement for cancer immunotherapy increase the overall acceptance of this therapy and boost the growth of the market. However, high product prices and stringent regulations related to cancer immunotherapy can restrain immunotherapy market growth.

Further, Technological advancements such as AI to determine suitable immunotherapy can act as a new opportunity to boost immunotherapy's acceptance as a treatment option for cancer.

Further, according to a report by Johns Hopkins Medicine, over 70 immunotherapy medications are in the clinical pipeline, and more than 1,000 immunotherapy clinical studies are now being conducted worldwide. Thus, growth in the immunotherapy market has attracted a lot of funding and attention in developers' efforts.

Owing to these factors global cancer immunotherapy market is expected to cross the $200 billion market size by 2030.

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Cancer Immunotherapy Market's Major Drivers

Higher Efficiency of Cancer Immunotherapy Than Traditional Cancer Treatments
Cancer Immunotherapy has become a reliable cornerstone of cancer care and a practical method that has improved the prognosis for many patients with various malignancies. Immunotherapy works to treat the underlying causes of cancer rather than just the symptoms, providing long-term cancer prevention and possibly reducing the likelihood of cancer recurrence. Thus, among various methods of managing cancer, such as surgery, hormone therapy, radiotherapy, and chemotherapy, immunotherapy has revolutionized treatment.

In March 2021 Dr. Franco Locatelli and colleagues published, the results of the immunotherapy vs Chemotherapy Randomized Clinical Trial for the treatment of B-Cell Acute Lymphoblastic Leukemia, Immunotherapy results in better study outcomes as compared to chemotherapy.

More, in various clinical studies, it has been found that cancer immunotherapy does have incomparable advantages over traditional anti-tumor therapy. For instance, Keytruda doubles the survival rate in non-small-cell lung cancer (NSCLC) patients compared to chemotherapy (Source: Results of a clinical trial published in CancerConnect- June 2022).

Such high survival rate as compared to other antitumor therapy increase the cancer immunotherapy preference among HCPs and patients.

Further, patients with cancer who have not responded to chemotherapy, surgery, and radiation have found success with immunotherapy. For instance, OPDIVO and YERVOY are considered the first-line treatment for unresectable malignant pleural mesothelioma (MPM) where no other treatment option is available (Source: UC Health). Moreover, in October 2020, the Food and Drug Administration (FDA), US, also authorized these two new drugs for the treatment of malignant pleural mesothelioma, which was also the first development for MPM in the previous 16 years.

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Thus, higher efficiencies of cancer immunotherapy may increase its overall acceptance over traditional therapies thereby driving market demand.

AI For Determining Suitable Cancer Immunotherapy

Imaging a patient's cancer and the immune system's reactions can give important information that could direct immunotherapeutic treatment choices during the course of therapy. A recent focus in immunotherapy has been drawn to technological developments like the real-time, non-invasive observation of particular cells or the use of artificial intelligence (AI) in pathology.

In 2019, researchers at Case Western Reserve University developed a novel artificial intelligence (AI) based method to determine which cancer patients may benefit from immunotherapy, an advance that helps reduce healthcare costs for underprivileged cancer patients. A CT scan was utilized by the researchers to examine tissue samples taken from 50 patients. They trained the AI system to develop an algorithm for recognizing changes in lung cancer lesions using these scans. This new technique was able to match patients who will react to immunotherapy.

Thus, rather than spending time and money on other treatment options patients can directly go for suitable immunotherapy treatment. This technological advancement can act as a new opportunity to boost immunotherapy's acceptance as a treatment option for cancer.

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Upcoming Opportunities in Cancer Immunotherapy Market

Major Market Players Covered in The Cancer Immunotherapy Market Are:

A few of the major competitors currently working in the global Cancer Immunotherapy market are Achilles Therapeutics plc., Alacrita Holdings Limited, Bioalta, Evolveeimmune Therapeutics, and Other Companies.
Global Cancer Immunotherapy Market Scope and Segments

• By Type of Therapy
o Immune Checkpoint Inhibitor
o Cell Therapies
o Monoclonal Antibodies
o Oncolytic Virus Therapies
o Cancer Vaccines
o Immune System Modulator
o Others

• By Type of Cancer
o Lung Cancer
o Breast Cancer
o Melanoma
o Colorectal Cancer
o Prostate Cancer
o Ovarian Cancer
o Pancreatic Cancer
o Others

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Based on regions, the Cancer Immunotherapy Market is classified into North
America, Europe, Asia- Pacific, Middle East & Africa, and Latin America

Middle East and Africa (GCC Countries and Egypt)
North America (United States, Mexico, and Canada)
South America (Brazil, Argentina, etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

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This release was published on openPR.