Cancer immunotherapy market to hit 14 percent CAGR to 2021

The global cancer immunotherapy market is set to reach US$19.39 billion by 2021 from US$61.97 billion in 2016 growing at a CAGR of 14 percent led by monoclonal antibodies forecast to show highest growth rate while increasing incidence of cancer, rising healthcare expenditure, and increased access to medical insurance in developed countries are major driving factors.

The global cancer immunotherapy market has been segmented on the basis of type, application, end user, and region. The monoclonal antibodies segment is expected to register the highest growth rate in the cancer immunotherapy market, by type, during the forecast period. Factors such as high success rate and less recovery time are contributing to the high growth in this segment.

Based on application, the global cancer immunotherapy market is segmented into lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head & neck cancer, and others (renal cell carcinoma, cervical, gastric, and lymphoma). The lung cancer segment is expected to witness the highest CAGR from 2016 to 2021, primarily due to the rising prevalence of this type of cancer.

Based on end users, the global cancer immunotherapy market is segmented into hospitals and clinics & others. The hospitals segment is expected to account for the largest share of the global cancer immunotherapy market in 2016. The rise in healthcare spending has resulted in the increasing use of drugs in hospitals.

Geographically, the cancer immunotherapy market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of North America can be attributed to the growing aging population and the increased funding from government and non-government agencies in order to increase the research capacity.

The major players in the cancer immunotherapy market include Amgen (U.S.), AstraZeneca (U.K.), F. Hoffman La-Roche Ltd. (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.). Order a copy of Cancer Immunotherapy Market by Type (Monoclonal Antibodies, Cancer Vaccines, Check Point Inhibitors & Immunomodulators), Application (Lung, Breast, Colorectal, Melanoma, Prostate, Head & Neck), End User (Hospital and Clinics)

Apart from comprehensive geographic & product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market. The above-mentioned market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output, in order to remain successful in the cancer immunotherapy market.

On a related note, another research on Immunotherapy Drugs Market Global Forecast to 2020 says, growing focus cancer therapies with fewer side effects is the major drivers of the immunotherapy drugs market. The overall market is estimated to grow at a CAGR of 12.8 percent to reach US$73,529.2 million by 2020. The checkpoint inhibitors are expected to grow at highest rate during the forecast period among all the segments of cancer immunotherapy drugs. Companies like Amgen Inc. (U.S.), GlaxoSmithKline Plc. (U.K.), Merck & Co., Inc. (U.S.), Novartis International Ag (Switzerland) and Roche Holding Ag (Switzerland) .