Cancer Immunotherapy Market Size, Share And Growth Analysis For 2024-2033
Cancer Immunotherapy Market Size, Trends, And Forecast 2024-2033
LONDON , GREATER LONDON , UNITED KINGDOM, October 31, 2024 /EINPresswire.com/ --
The cancer immunotherapy market has experienced rapid growth in recent years, expected to rise from $97.88 billion in 2023 to $110.91 billion in 2024, with a compound annual growth rate (CAGR) of 13.3%. This historic growth can be attributed to several factors, including the increasing prevalence of cancer, a greater adoption of immunotherapy over traditional treatments, heightened research and development activities for targeted therapies, improved effectiveness and accuracy of newer treatments, and a growing recognition of the limitations associated with conventional cancer therapies.
What Is The Estimated Market Size Of The Global Cancer Immunotherapy Market And Its Annual Growth Rate?
The cancer immunotherapy market is projected to experience significant growth in the coming years, expected to reach $175.39 billion by 2028, with a compound annual growth rate (CAGR) of 12.1%. This growth during the forecast period can be attributed to several factors, including the increasing approval of novel immunotherapies for cancer treatment, rising demand for personalized medicine, a growing number of cancer diagnoses, increased investment in clinical trials to introduce advanced treatments, and heightened awareness of cancer immunotherapy.
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Growth Driver Of The Cancer Immunotherapy Market
The rising incidence of cancer is anticipated to drive the growth of the cancer immunotherapy market. Contributing factors to the increase in cancer cases worldwide include tobacco use, alcohol consumption, obesity, sedentary lifestyles, and environmental influences. As cancer cases continue to rise, the demand for cancer immunotherapies is expected to grow, as patients increasingly seek medical treatments that offer better recovery outcomes with minimal pain.
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Which Market Players Are Driving TheCancer Immunotherapy Market Growth?
Key players in the market include Amgen Inc., AstraZeneca PLC, F. Hoffmann-La Roche Ltd, Bayer AG, Eli Lilly and Company, 3D Signatures Inc., Adaptive Biotechnologies Corp., Argos Therapeutics Inc., Bristol-Myers Squibb Company, Cell Medica Limited, Cellular Biomedicine Group Inc., Gilead Sciences Inc., Gradalis Inc., Immatics Biotechnologies GmbH, Iovance Biotherapeutics Inc., Juno Therapeutics LLC, Kura Oncology Inc., MacroGenics Inc., Merck & Co. Inc., Neon Therapeutics Inc., Neovii Biotech GmbH, Novartis International AG, Pfizer Inc., Pulse Biosciences Inc., Regeneron Pharmaceuticals Inc., Roche Holding AG, Targovax ASA, Tessa Therapeutics Pte Ltd., TILT Biotherapeutics Ltd., Turnstone Biologics Corp., Xencor Inc.
What Are the Key Trends That Influence TheCancer Immunotherapy Market Size?
Leading companies in the cancer immunotherapy market are concentrating on developing innovative products, such as Imjudo in combination with Imfinzi, to better address the needs of their current consumers. Imjudo, which combines Imfinzi (durvalumab) and tremelimumab, is a potential dual immune checkpoint inhibitor in cancer immunotherapy.
How Is The Global Cancer ImmunotherapyMarket Segmented?
1) By Product: Monoclonal Antibodies, Checkpoint Inhibitors, Immunomodulators, Vaccines, Cell Therapy
2) By Application: Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Multiple Myeloma
3) By End User: Hospitals, Cancer Research Centers, Clinics
Geographical Insights: North America Leading TheCancer ImmunotherapyMarket
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Cancer Immunotherapy Market Definition
Cancer immunotherapy is a form of cancer treatment that enhances the body's defenses against the disease. The immune system plays a crucial role in protecting the body from infections and other disorders, comprising white blood cells, organs, and lymphatic system tissues. Cancer immunotherapy encompasses various approaches, including cytokines and vaccines, adoptive cell therapies, oncolytic viruses, tumor-infecting viruses, and more.
Cancer Immunotherapy Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global cancer immunotherapy market report covering trends, opportunities, strategies, and more
The Cancer Immunotherapy Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on cancer immunotherapy market size, cancer immunotherapy market driversand trends, cancer immunotherapy market major players and cancer immunotherapy market growth across geographies. Thismarket report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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