Cancer Immunotherapy Market Global Trends and Forecast to 2021

According to research report "Cancer Immunotherapy Market is expected to reach USD 119.39 Billion by 2021 from USD 61.97 Billion in 2016, at a CAGR of 14.0% from 2016 to 2021. This report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global cancer immunotherapy market along with the estimates and forecasts of the revenue and market share analysis.

In this report, the global cancer immunotherapy market has been segmented based on type, application, end user, and region. On the basis of type, the market has been segmented into monoclonal antibodies, cancer vaccines, checkpoint inhibitors, and immunomodulators. The monoclonal antibodies segment is expected to account for the largest share of the market in 2016, while the checkpoint inhibitors segment is projected to witness the highest CAGR from 2016 to 2021. The high growth in this segment is primarily attributed to the high success rate of these inhibitors.

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On the basis of applications, the global cancer immunotherapy market is segmented into lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head & neck cancer, and others. The lung cancer segment is expected to grow at the highest CAGR during the forecast period. The high growth in this segment can be attributed to the increasing prevalence of this type of cancer and rising demand for advanced treatment options.

Geographically, the North American market accounted for the largest share of the global cancer immunotherapy market in 2016. The large share can be attributed to factors such as rising number of patients suffering from cancer, increasing adoption rate of immunotherapy, and development of bioinformatics tools are enhancing the drug development process.  

Key players in the cancer immunotherapy market include Amgen (U.S.), AstraZeneca (U.K.), F. Hoffmann-La Roche AG (Switzerland), Bayer AG (Germany), Bristol-Myers Squibb (U.S.), Eli Lilly and Company (U.S.), Janssen Global Services, LLC (Belgium), Merck (U.S.), Novartis (Switzerland), and Pfizer (U.S.).

Increase in adoption of immunotherapy over other treatment options is driving the growth of this market

The treatment options for cancer, such as chemotherapies and radiation therapy, although have more side effects, are more widely used as compared to immunotherapies. The former are all based on destroying cancer cells by irradiation, chemotherapy, or surgery. While they can effectively kill or remove cancer cells, the use of these treatments is often limited because they tend to destroy healthy cells in large numbers as well. As immunotherapies involve the mechanism of enhancing the body’s own immunity using man-made proteins such as monoclonal antibodies, they are accepted worldwide over other treatment options.