IMARC Group, a leading market research company, has recently releases report titled “Cancer Immunotherapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The global cancer immunotherapy market size reached US$ 118.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 261.0 Billion by 2032, exhibiting a growth rate (CAGR) of 8.92% during 2024-2032.
Industry Overview of Cancer Immunotherapy
Cancer immunotherapy is an advanced approach that utilizes the immune system of the body to fight and eradicate cancer cells. It relies on various strategies, such as immune checkpoint inhibitors, chimeric antigen receptor (CAR)-T cell therapy, and cancer vaccines, all designed to boost the ability of the immune system to recognize and attack malignant cells. It works by improving the natural abilities of the immune system to identify and destroy malignant cells, unlike traditional cancer treatments, such as chemotherapy or radiation therapy, that directly target cancer cells. It enhances the quality of life of patients during and after treatment and has fewer side effects as compared to chemotherapy. It assists in providing prolonged effectiveness and improving overall survival rates among patients. As a result, cancer immunotherapy is widely employed to treat melanoma, breast, kidney, liver, thyroid, and bladder cancers among individuals across the globe.
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What are the growth prospects and trends in the cancer immunotherapy industry?
Presently, the rising adoption of cancer immunotherapy due to prolonged survival rates and reduced toxicity represents one of the key factors strengthening the market growth. Additionally, the increasing employment of immunotherapy, as it offers targeted treatment and addresses the specific genetic and molecular characteristics of tumors, is impelling the market growth.
Apart from this, the escalating demand for cancer immunotherapy due to the increasing prevalence of cancer among the masses worldwide is offering a favorable market outlook. In addition, the rising utilization of cancer immunotherapy, as it can produce durable responses that provide long-term disease control, is contributing to the growth of the market. Besides this, the increasing demand for cancer immunotherapy on account of the improving healthcare infrastructure is propelling the market growth.
In line with this, the rising commercialization of novel immunotherapies around the world is providing lucrative growth opportunities to industry investors. Furthermore, the increasing development of more effective and less invasive treatment options is supporting the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Therapy Type Insights:
- Monoclonal Antibodies
- Cancer Vaccines
- Checkpoint Inhibitors
- Immunomodulators
- Others
Application Insights:
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Melanoma
- Prostate Cancer
- Head and Neck Cancer
- Others
End User Insights:
- Hospitals
- Cancer Research Centers
- Clinics
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Amgen Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, GSK plc, Johnson & Johnson, Merck KGaA, Novartis AG, Pfizer Inc., Sanofi S.A, Seagen Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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