A recent report published by Infinium Global Research on cancer immunotherapy market provides in-depth analysis of segments and sub-segments in the global as well as regional cancer immunotherapy market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cancer immunotherapy market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global cancer immunotherapy market. According to the report, the global cancer immunotherapy market is projected to grow at a CAGR of 15.12% over the forecast period of 2019-2025.
Cancer immunotherapy is defined as the artificial stimulation of the immune system to treat cancer. It improves the natural ability of the system to fight against cancer and also improves the immunity of abolishing the cancer cells. To slow down the growth of cancer cells and stop spreading of cancer this therapy is given to cancer patients. These immunotherapy uses to modulate the immune system of patients, which improve the activity of the immune system to fight against tumors. these therapies are designed to perform as immune stimulating agents that improve the responses against tumor cells.
Increasing incidents of cancers are the major factor driving the growth of the cancer immunotherapy market. As per the WHO, cancer is the second cause of death all over the world. Owing to smoking, alcoholism and inactive lifestyle the incidences of cancer is increasing. And this factor upsurges the number of cancer population resulting in the growing demand for cancer immunotherapy market. As per the new global cancer date, the cancer burden has increased up to 18.1 million cases and 9.6 million cancer deaths. Further, an estimate as per the National Cancer Institute in 2018, 1,735,350 new cases of cancer were diagnosed in the U.S and 609,640 people died due to the diseases. Further, advancement in cancer therapies, increasing investments in R&D activities, and growth in healthcare expenditure is also boosting the market growth. On the contrary, the lack of skilled healthcare professionals in this field restrains the growth of the market. Besides, increasing awareness about this therapy among consumers is gaining significant growth opportunity in the upcoming year.
As per the geographies, North America accounted for the largest market share for the cancer immunotherapy market followed by Europe and Asia Pacific region. In North America region growing numbers of patients, growing investments in R&D activities by the governments are some of the major factors driving the growth of cancer immunotherapy market in this region. In the Europe region, increasing income of an individuals and accessibility of cancer immunotherapy drugs motivates the growth of the market. Further, Asia Pacific region is anticipated to grow at the fastest rate due to factors such as growing incidents of cancer, and growing government investments on medical infrastructure are boosting factors for the growth of cancer immunotherapy market in Asia Pacific region.
The report on global cancer immunotherapy market covers segments such as therapeutic area, therapy type, and end users. On the basis of the therapeutic area, the sub-markets include lung cancer, melanoma, breast cancer, colorectal cancer, blood cancer, and prostate cancer. On the basis of therapy type, the sub-markets include monoclonal antibodies, immune system modulators, immune checkpoint inhibitors, and cancer vaccines. On the basis of end users, the sub-markets include hospitals, ambulatory surgical centers, clinics, and cancer research centers.
The report provides profiles of the companies in the market such as GlaxoSmithKline plc., AstraZeneca plc, Merck & Co., Inc., Immunomedics, Inc., F. Hoffmann-La Roche AG, Eli Lilly and Company, Pfizer, Inc., Bristol-Myers Squibb Company, Amgen, Inc., and Novartis International AG.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the cancer immunotherapy market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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