Cancer immunotherapy, also known as
biologic therapy, helps in cancer treatment by boosting the immunity of the
body to fight against cancer. In this type of therapy antibodies and live
viruses are introduced in the body that slows the growth of cancer cells. In
addition, it also helps the immune system destroy the cancer cells. The major
factors that drive the growth of this market include increase in incidence of
cancers, growth in geriatric population, and rise in cancer R&D. However,
shortage of skilled labor and lack of awareness about cancer immunotherapy is
projected to restrain the market growth during the forecast period.
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The cancer immunotherapy market in
this report is studied on the basis of technology, application, end-user, and
region. Based on technology, the market is divided into monoclonal antibodies,
cytokines & immunomodulators, and other technologies. Monoclonal antibodies
held the largest share in 2015 owing to high usage of monoclonal antibodies for
cancer immunotherapy as they exhibit different immunomodulatory properties and
hence they can directly activate or inhibit the molecules of immune system. In
addition, monoclonal antibodies also induce the antitumor immune response.
By application, the cancer
immunotherapy market is segmented as lung cancer, breast cancer, colorectal
cancer, melanoma, prostate cancer, head & neck cancer, and other
applications. The lung cancer market held the largest share in 2015 and is
expected to lead the market during the analysis period owing to high incidence
of lung cancer. Hospitals in end users held the largest market share of cancer
immunotherapy market in 2015, and is projected to show the highest growth rate
during the analysis period due to the extensive use of cancer immunotherapy in
the hospitals.
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Geographically, the global cancer
immunotherapy market is analyzed by four regions, namely, North America,
Europe, Asia-Pacific, and LAMEA. North America was the highest revenue
contributor in 2015. This is attributed to the ample amount of expenditure in
healthcare, well-established healthcare system, and high incidence of cancer.
However, Asia-Pacific region is projected to be grow with the highest CAGR
during the analysis period, owing to rise in healthcare expenditure, increase
in per capita income, and improvement in healthcare infrastructure.
The Major Key Players Are:
Amgen Inc., Advaxis Inc., Merck &
Co., Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, Pfizer Inc.,
Novartis AG, Bayer AG, Immunomedics Inc., and Astrazeneca plc.
Key Findings of the Cancer Immunotherapy
Market:
- The
monoclonal antibody accounted for the largest market share for technology
segment in 2015 and is also estimated to grow at the highest CAGR of
15.0%.
- By
application, lung cancer held the highest market share and is anticipated
to lead the market during the analysis period.
- The
U.S. was the major shareholder in the North American cancer immunotherapy
market, accounting for six-seventh share in 2015.
- China
is expected to show the highest growth rate during the analysis period for
the Asia-Pacific cancer immunotherapy market.
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