Global Immunotherapy Market is Projected to Observe a High growth rate of CAGR 13-14% by 2027

BRUSSELS - June 30, 2023 - PRLog -- Cancer Immunotherapy (https://meditechinsights.com/immunotherapy-market/) is a treatment that use the body's immune system to combat cancer cells. It stimulates the immune system, causing it to detect and fight cancer cells. The treatment either uses compounds produced by the body or substances created in a laboratory to detect and combat cancer cells.

Major Market Trends

Cancer immunotherapy is quickly advancing and is already licensed for the treatment of a variety of cancers.

Leading Immunotherapy trends :

§  Combination Therapies: This methodology  uses the multiple immunotherapeutic drugs in the treatment of cancer. Some therapies have shown promising outcomes in clinical trials and gaining popularity in the treatment of cancer. For instance, in April 2023, U.S. FDA granted Astellas Pharma Inc. and Seagen Inc.

§  Gene Editing:  Advances in gene editing technology is facilitating the development of new immunotherapeutic drugs. For example, CRISPR-Cas9.

Major Growth Drivers of the Immunotherapy Market

Rising prevalence of cancer, an geriatric population, and lifestyle changes are some of the main reasons driving the growth of the immunotherapy market. Other factors driving its growth in the global market include the government's increasing investments in R&D and the introduction of new treatment techniques such as chimeric antigen receptor (CAR) T-cell therapy, cancer vaccines, and adoptive cell transfer (ACT) therapy. For instance,

§  In February 2022, the Janssen Pharmaceutical Companies of Johnson & Johnson received approval from the U.S. FDA for using CARVYKTI® (ciltacabtagene autoleucel; cilia-cel) for the treatment of adult patients with RRMM.

North America to Hold a Large Share of the Market

Geographically, North America holds a significant market share in the immunotherapy market. This can be primarily be attributed to the growing number of cancer patients, quick adoption of immunotherapy throughout U.S. oncology practices, the developed healthcare infrastructure, and the presence of major players in the region. However, the Asia-Pacific region is anticipated to witness high growth in the future years, due to rising cases of cancer and the regions high geriatric population.

Competitive Landscape : Immunotherapy Market

Leading players operating in the market :

• Amgen Inc.
• Bayer AG
• Astellas Pharma Inc.
• AstraZeneca
• Bristol-Myers Squibb
• F. Hoffmann-La Roche
• Pfizer Inc.
• Eli Lily and Company
• Novartis AG,
• Johnson & Johnson (Janssen Global Services LLC)
• Merck and Co. Inc. among others.

Immunotherapy market is expected to gain further traction in the coming years due to the increasing adoption of new therapeutic treatments and combination therapies, favorable government support, rising investments in research and developments, and aggressive organic and inorganic growth strategies adopted by the players.

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