FREMONT, California, Feb. 19, 2019
FREMONT, California, Feb. 19, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research, titled "Global Cancer Immunotherapy Market - Analysis and Forecast, 2018-2028", the market was valued at $39.86 billion in 2017, and is estimated to reach $170.70 billion by 2028, witnessing a CAGR of 14.14% during the forecast period from 2018 to 2028.
As per the World Health Organisation, cancer caused 9.6 million deaths in 2018 worldwide, increasing the growing concern among healthcare professionals regarding high death rates due to cancer, globally. This can be attributed to the unmet medical needs of the cancer patients such as drugs and treatments that can improve the quality of life, reduce disease burden and decrease the serious adverse effects in the patient. Since cancer immunotherapy is a biologic therapy that uses patient's immune cells and boosts the immune system response to the cancerous cells, it has lesser toxic effects and is more efficacious. Unlike chemotherapy drugs, immunotherapy is based on the memory of immune system and hence requires less dosage as compared to chemotherapy.
Browse 34 market Data Tables and 150 Figures spread through 191 Pages and in-depth TOC on "Global Cancer Immunotherapy Market"
The global healthcare scenario is witnessing unprecedented epidemiological and demographic changes. The healthcare industry has made advancements in terms of diagnosis and treatment, yet cancer remains as one of the leading causes of death today. Additionally, because of the rising geriatric population, an increase in the incidence and prevalence of cancer in the coming years is evident. Approximately 84% of the known cancer cases occur in people aged 50 years and above, globally, as per the US-based government health agency National Cancer Institute (NCI).
With advancing age (accumulation of the damaged cells, which recover faster in people who are younger, as compared to the elderly that happens with age causes cancer), increasing exposure to mutagens or radiation such as ultra-violet rays, hazardous chemicals such as tobacco smoke, over-exposure to ionizing radiation emitted during activities such as preparing an x-ray, generating electricity from nuclear power plants, and hormonal imbalances in the body are high-risk factors for cancer. Also, the treatment of cancer is long-term and involves extensive therapies that act as an economic burden on the patients and their families. It has been estimated that the global spending on cancer therapies and supportive care drugs market is expected to increase from $133 billion to $200 billion by 2022.
Against the factors mentioned above, the market for cancer immunotherapy or, immuno-oncology is gaining grounds globally. Advancements in immuno-oncology and precision medicine (personalized medicine) are expected to fuel the growth of this market further.
BIS Research Report - https://bisresearch.com/industry-report/cancer-immunotherapy-market.html
According to Priya Srivastava, Senior Analyst at BIS Research, "North America is currently the leading contributing region to the global cancer immunotherapy market. The North American cancer treatment market accounted for $17.80 billion in 2017. Factors such as the presence of large numbers of pharmaceuticals firms in North America and extensive investments made by them in the field of research and development are driving the growth of the North American Cancer Immunotherapy market. Availability of checkpoint inhibitors and development of novel cancer immunotherapies along with the support of the regulatory agencies are the other contributing reasons for the growth of the market in the US. However, the Asia-Pacific region is expected to register the highest CAGR of 16.28% during the forecast period 2018-2028 due to the rising patient pool, development of healthcare facilities, and increasing healthcare expenditure in this region".
Source: BIS Research Analysis
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The BIS Research report provides a multidimensional view of the global cancer immunotherapy market in terms of market size and growth potential. This research report aims at answering various aspects of the global cancer immunotherapy market with the help of the key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, regulatory clearance, and certifications, partnerships, collaborations, business expansions as well as mergers and acquisitions. The research report provides a comprehensive analysis of the product sales, and manufacturers and trend analysis by segments, and demand analysis by geographical regions.
This report is a meticulous compilation of research on more than 70 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 19 leading companies, market participants, and vendors. The report also profiles 15 companies including several key players, such as Aduro Biotech, Inc., Amgen Inc., AstraZeneca PLC, Boehringer Ingelheim, Bristol Myers Squibb Company, Celgene Corporation, Eli Lilly and Company, F. Hoffmann-La Roche AG, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer Inc., and Gilead Sciences, Inc., among others.
Key questions answered in the report:
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