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Intratumoral Cancer Therapies Market Report 2024 - Intratumoral Cancer Therapies Market Trends, Analysis, And Forecast
Intratumoral Cancer Therapies Market
According to The Business Research Company's, The intratumoral cancer therapies market size has grown rapidly in recent years. It will grow from $124.82 billion in 2023 to $141.55 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to advancements in cancer research, increasing cancer incidence, demand for precision medicine, clinical evidence and research initiatives, unmet medical needs.
The intratumoral cancer therapies market size is expected to see rapid growth in the next few years. It will grow to $221.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to advancements in immunotherapy, increased adoption of precision medicine, clinical trial expansion, rising focus on rare cancers, regulatory support and approvals.. Major trends in the forecast period include exploration of intratumoral immunomodulators, integration of image-guided therapies, application of hyperthermia in intratumoral treatments, clinical trials for combination therapies, regulatory support for intratumoral therapies.
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Market Drivers and Trends:
The increasing incidence of cancer is expected to propel the growth of the intratumoral cancer therapies market going forward. Cancer is a group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body. Intratumoral cancer therapies are used in diagnosing and treating cancer that help in avoiding off-target toxicities, dose-limiting toxicities, and adverse effects due to immune stimulation for patients suffering from cancer. For instance, in January 2023, according to the American Cancer Society, a US-based nonprofit cancer advocacy organization, the number of cancer cases increased to 1,958,310 in 2023, reflecting a growth of 3.16% from 1,898,160 in 2021. Therefore, the increasing incidence of cancer is driving the growth of the intratumoral cancer therapies market.
Technological development is a key trend gaining popularity in the intratumoral cancer therapies market. Companies operating in the intratumoral cancer therapies market are adopting new technologies to sustain their position in the market. For instance, in March 2022, Evonik, a US-based, specialty chemical manufacturing company, a novel microparticle technology called EUDRATEC® SoluFlow, designed to improve the solubility of active medicinal components in oral medication formulations, in cancer therapies. With the use of this breakthrough technology, chemicals that were previously thought to be insoluble can now be used to create a wider variety of oral medications.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Amgen Inc.; AstraZeneca plc; Bayer AG; Bristol-Myers Squibb Company; Pfizer Inc.; Novartis AG; Johnson & Johnson; Eli Lilly and Company; F. Hoffmann-la Roche; Celgene Corporation; Takeda Pharmaceutical Company Ltd.; GSK plc; Ziopharm Oncology Inc.; Celldex Therapeutics Inc.; Astellas Pharma Inc.; Sirnaomics; Checkmate Pharmaceuticals Inc.; Immunovative Therapies Ltd.; Idera Pharmaceuticals Inc.; Daiichi Sankyo; Philogen S.p.A.; Apexigen Inc.; Merck Group; OncoSec Medical Incorporated; DNAtrix; Istari Oncology Inc.; Nanobiotix; Exicure Inc.; Karyopharm Therapeutics Inc.; Dechra Pharmaceuticals PLC; Torigen Pharmaceuticals Inc.; Elekta; Virbac; Norbrook Laboratories; Aratana Therapeutics Inc.; Regeneus Ltd.; QBiotics Group; VetDC; AdvaVet Inc.
Intratumoral Cancer Therapies Market 2024 Key Insights:
• The intratumoral cancer therapies market will grow to $221.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%.
• Rising Cancer Incidence Fuels Expansion Of Intratumoral Cancer Therapies Market
• Technological Advancements Propel Intratumoral Cancer Therapies Market Growth
• North America was the largest region in the intratumoral cancer therapies market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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