(PharmaNewsWire.Com, November 27, 2021 ) According to a new market research 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) - Global Forecast to 2021, published by MarketsandMarkets, the global Cancer Immunotherapy Market is expected to reach USD 119.39 Billion by 2021 from USD 61.9 Billion in 2016, at a CAGR of 14.0% from 2016 to 2021.
This growth can be attributed to factors such as increasing adoption of target therapy over traditional therapy, emergence of biosimilars, increasing demand for mAbs, high prevalence of cancer.
This report aims to provide insights into the global cancer immunotherapy market. It provides valuable information on type, application, end user. Details on regional markets for these segments have also been presented in this report. In addition, leading players in the market are profiled to understand the strategies undertaken by them to be competitive in this market.
Browse 43 market data Tables and 69 Figures spread through 145 Pages and in-depth TOC on "Cancer Immunotherapy Market"
The global cancer immunotherapy market is consolidated in nature, marked with the presence of a few large players. The prominent players in this market are Amgen (U.S.), AstraZeneca (U.K.), F. Hoffmann-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.).
Amgen was the largest player in the global cancer immunotherapy market in 2015. The company has a strong presence in the U.S., Europe, Asia-Pacific, the Middle East, and Africa. In order to sustain its foothold and further increase its share in the market, the company pursues the strategy of new product launches, which significantly impacts the companys customer base.
In 2015, F. Hoffmann-La Roche AG accounted for the second-largest share in the cancer immunotherapy market. The company focuses on developing innovative products to provide efficient solutions to its customers.
Bristol-Myers Squibb (BMS) held the third position in the cancer immunotherapy market in 2015. The company has a first-mover advantage as two of its drugs (Opdivo and Yervoy) have already been approved and commercialized. These products recently received an approval of oncolytic virus Imlygic and cancer vaccine Empliciti from the U.S. FDA.
The key strategies followed by most companies in the cancer immunotherapy market are new products launches and approvals; expansions; acquisitions; and partnerships, agreements, and collaborations. The strategy of new products launches and approvals accounted for the largest share of the overall growth strategies mapped from 2013 to 2016. Companies seek new and advanced product approvals to strengthen their product portfolios and cater to the unmet needs of their customers. Some of the leading players that adopted this strategy include Amgen (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Bristol-Myers Squibb (U.S.), and Merck (U.S.).
Geographically, the North American market accounted for the largest share of the global cancer immunotherapy market. 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.
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