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Neoantigen Targeted Therapies Market 2024 - By Growth Factors, Applications, Regional Analysis, Key Players And Forecast 2033
Neoantigen Targeted Therapies Market
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According to The Business Research Company's, The neoantigen targeted therapies market size has grown exponentially in recent years. It will grow from $2.43 billion in 2023 to $3.39 billion in 2024 at a compound annual growth rate (CAGR) of 39.3%. The growth in the historic period can be attributed to advancements in genomic sequencing, immunotherapy evolution, understanding tumor immunology, clinical success of checkpoint inhibitors, molecular profiling advancements.
The neoantigen targeted therapies market size is expected to see exponential growth in the next few years. It will grow to $11.69 billion in 2028 at a compound annual growth rate (CAGR) of 36.3%. The growth in the forecast period can be attributed to advancements in bioinformatics, precision medicine expansion, neoantigen vaccine development, therapeutic combination strategies, biomarker validation. Major trends in the forecast period include neoantigen resistance management, neoantigen-primed adoptive cell therapies, neoantigen-based combinatorial therapies, integration of real-world data, enhanced predictive models.
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Market Drivers and Trends:
The increasing incidence of cancer cases is expected to propel the growth of the neoantigen targeted therapies market going forward. The incidence of cancer refers to the number of new cases of cancer in a specific population for a given period. Neoantigen targeted therapies are often used in combination to treat different types of cancer. For instance, the American Cancer Society (ACS), a US-based voluntary health organization, in 2022, the United States had 1.9 million new cancer cases, representing a significant increase compared to previous years. Furthermore, in 2022, in the US, approximately 609,360 deaths were attributed to cancer, emphasizing the profound severity and impact of this disease on individuals and their families. Therefore, the increasing incidence of cancer cases is driving the growth of the neoantigen targeted therapies market.
Product innovation has emerged as a key trend gaining popularity in the neoantigen targeted therapies market. Major players are focusing on creating innovative products to lead the market. For instance, in October 2021, BioNTech, a Germany-based biotechnology company, expanded its clinical oncology portfolio with the initiation of a Phase 2 clinical trial for 'BNT122', a mRNA-based individualized immunotherapy. This trial specifically focuses on colorectal cancer patients. The trial marks an important milestone, as the first patient has been dosed with BNT122. It is designed to harness the power of the immune system by stimulating a targeted T-cell response against neoantigens found in each patient's tumor. The ongoing clinical trial represents an important step forward in BioNTech's mission to develop cutting-edge immunotherapies and expand the treatment options available to cancer patients.
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Major Key Players of the Market:
F. Hoffmann-La Roche AG, Merck and Co. Inc., Bristol Myers Squibb Company, GlaxoSmithKline plc, Eli Lilly and Company, Kite Pharma Inc., Gilead Sciences Inc., Amgen Inc., Moderna Inc., BioNTech SE, Bavarian Nordic Inc., Advaxis Inc., Immatics NV, Precision Biologics Inc., Iovance Biotherapeutics Inc., Agenus Inc., Achilles Therapeutics Plc, Medigene AG, Gritstone Bio Inc., SQZ Biotechnologies Company, Aduro BioTech Inc., Inovio Pharmaceuticals Inc., Gradalis Inc., EpiVax Inc., ISA Pharmaceuticals BV, Vaxon Biotech SA, Ziopharm Oncology, Genocea Biosciences Inc., Cellular Biomedicine Group Inc., Immunovaccine Inc.
Neoantigen Targeted Therapies Market 2024 Key Insights:
• The neoantigen targeted therapies market size is expected to see exponential growth in the next few years. It will grow to $11.69 billion in 2028 at a compound annual growth rate (CAGR) of 36.3%.
• Rising Incidence Of Cancer Cases Drives Growth In The Neoantigen Targeted Therapies Market
• Biontech Takes Strides In Neoantigen Targeted Therapies With The Launch Of Bnt122 For Colorectal Cancer
• North America was the largest region in the neoantigen targeted therapies market in 2023
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