Global Cancer Immunotherapy Market : Market Research by Knowledge Sourcing Intelligence

The global cancer immunotherapy market is projected to expand at a CAGR of 12.98% over the forecast period of 2017 to 2023. Immunotherapy is a treatment that uses certain parts of a person’s immune system to fight diseases such as cancer by stimulating one’s own immune system to work harder to attack cancer cells or by giving immune system components such as man-made immune system proteins. Rising number of cancer cases across the globe is driving the global cancer immunotherapy market growth.
According to National Cancer Institute, an estimated 15,270 children and adolescents aged 0 to 19 were diagnosed with cancer and 1,790 died of the disease in the United States in the year 2017. Therefore, cancer immunotherapy technologies are continuously being developed to accomplish several tasks so as to enhance the molecular targeting of cancer cells, report the rate of killing by specific immune agents, and to direct immune cells towards tumor destruction. The manufacturers are increasingly looking into investments, partnerships and collaboration so as to come up with advanced immunotherapy drugs. 
For instance, In December 2018, Bristol-Myers Squibb and Vedanta Biosciences announced a new clinical collaboration to evaluate OPDIVO and VE800 in patients with advanced cancers. The cancer immunotherapy market is expected to grow at a good pace on account of rising investments and incorporation of advanced technologies such as Artificial Intelligence (AI) to enhance the immunotherapy treatment. Geographically, North America is expected to hold a major share in the market owing to the rapid adoption of innovative technologies and presence of sophisticated healthcare infrastructure in the region. We are providing market research for global cancer immunotherapy with complete information.

Global Cancer Immunotherapy Market by Application

By application, the global cancer immunotherapy market has been segmented as skin cancer, lung cancer, leukemia, bladder cancer, and others. The market for all these applications is being driven by the rising incidences and growing prevalence of different cancers across all regions worldwide. Lung cancer holds a significantly large share in this market on account of its highest occurence among all other types of cancers. According to a data from the World Cancer Research Fund, around 2.1 million new cases of lung cancer were reported worldwide in 2018, which were 12.3% of all cancer cases reported in that year. Bladder cancer and leukemia immunotherapy also hold a significant share in this market on account of substantial investments by market players into R&D in cancer immunotherapy for these cancer types.
global cancer immunotherapy market
Sample view of global cancer immunotherapy market share by application

According to a data from the Cancer Research UK, between 2005 and 2015, incidence rates for lung cancer per 10,000 people in the United Kingdom changed from 77.9 to 78.1. This might seem like a very small change but going by the population data for the United Kingdom from the World Bank Group, the number of new cancer cases over this period changed from 47,053 in 2005 to 50,866 in 2015. This increase of about 8% was majorly attributed to the increasing number of smokers and exposure of people to tobacco smoke. The United States, another developed economy, witnessed around 234,030 new cases of lung and bronchus cancer in 2018 according to a data from the American Cancer Society. As these economies are strong and out-of-pocket expenditure on healthcare is high, adoption of lung cancer immunotherapy is witnessing a continuous increase across these regions, which is expected to boost the market growth over the forecast period.

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