Cancer immunotherapy is a type of cancer treatment that helps the body's natural immune system fight cancer. It involves manipulating or enhancing the body's natural defenses (the immune system) to fight cancer. Cancer immunotherapy products include monoclonal antibodies, vaccines, checkpoint inhibitors, and adoptive cell transfer therapy.
Market key trends:
In recent years, there has been significant innovation in cancer immunotherapy treatment options with the development of novel drugs such as checkpoint inhibitors and CAR T-cell therapy. Checkpoint inhibitors help boost the body's natural defenses against cancer by blocking proteins made by some types of immune system cells that help cancer cells evade the immune system. Drugs such as pembrolizumab and nivolumab have been approved for use in several types of cancer including melanoma, lung cancer, kidney cancer, and bladder cancer. CAR T-cell therapy involves collecting T cells from a patient's blood and modifying them in the laboratory to attack cancer cells. This therapy has shown great promise in treating certain leukemias and lymphomas. The increasing development and approval of such innovative immunotherapy options is expected to accelerate the growth of the global cancer immunotherapy market over the forecast period.
Segment Analysis
The cancer immunotherapy market is segmented based on technology, application and end-user. Based on technology, monoclonal antibodies dominated the market as a result of its effectiveness in treating various types of cancer. Monoclonal antibodies target specific antigens and receptors present on tumor cells and kill them through several mechanisms without harming normal cells. By application, lung cancer accounted for the largest share as it is the most common type of cancer globally. Hospital pharmacies held the major share in end-user segment owing to high number of cancer patients visiting hospitals for diagnosis and treatment.
Key Takeaways
The Global Cancer Immunotherapy Market Demand is expected to witness high growth. The global Cancer Immunotherapy Market is estimated to be valued at US$ 112232.19 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030.
North America dominated the market and is expected to retain its dominance over the forecast period. High prevalence of cancer, rapid adoption of new treatment methods and presence of key players are driving the market in the region.
Key players related content comprises Key players operating in the Cancer Immunotherapy Market are Delve Health, Clario, Clinical Ink, Castor, Accenture, Thread, Science 37, Medable, Dassault Systèmes, and eElinicalHealth (CLINPAL), among others.
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