Cancer Immunotherapy Market Growth Accelerated by Expanding Applications

 

Cancer immunotherapy is evolving as a highly effective and promising approach for treating various types of cancers. Immunotherapy drugs aim to boost the body's natural defenses to fight cancer by stimulating or restoring the ability of the immune system to detect and destroy cancer cells. Such drugs include monoclonal antibodies, cancer vaccines, and checkpoint inhibitors that help enhance the immune response against tumors. The growing acceptance of immunotherapy as a standard form of care for various cancer types like lung cancer, melanoma, leukemia, and lymphomas is fueling the demand.

The global Cancer Immunotherapy Market is estimated to be valued at US$ 129291.49 Bn in 2024 and is expected to exhibit a CAGR of 17% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising popularity of checkpoint inhibitors over the past decade has majorly driven the market growth. Checkpoint inhibitors help unleash the full power of the immune system by blocking inhibitory checkpoints like PD-1 and CTLA-4 on T cells and enabling them to effectively identify and attack cancer cells. The success of early checkpoint inhibitors such as Ipilimumab, Pembrolizumab, and Nivolumab in treating various cancers resulted in robust sales and expanded their applications to new cancer types. Ongoing research efforts to develop more potent checkpoint inhibitors either as monotherapy or in combination with other immunotherapies are further broadening treatment options and contributing to the market expansion.

Segment Analysis
The global cancer immunotherapy market growth is dominated by immune checkpoint inhibitor therapy sub-segment. Immune checkpoint inhibitors have revolutionized cancer treatment and helped many patients with different cancer types. The therapy works by taking the brakes off the immune system by blocking proteins called immune checkpoints, allowing T cells to more effectively fight cancer. Monoclonal antibodies that target checkpoints like PD-1 and CTLA-4 have shown durable responses in a variety of tumor types like melanoma, lung cancer, kidney cancer, bladder cancer etc. The therapy is preferred over other sub-segments as it provides long lasting response rate for a wide range of cancer types with generally milder side effects as compared to other therapies.

Key Takeaways
The global cancer immunotherapy market is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis: North American region currently dominates the global cancer immunotherapy market. The presence of major pharmaceutical players and high adoption rate of novel cancer therapies has contributed to North America’s leading position in the market. However, the Asia Pacific region is estimated to register the fastest CAGR during the forecast period owing to growing healthcare infrastructure, rising medical tourism, and increasing per capita healthcare expenditure in emerging economies like China and India.

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. Delve Health offers an AI virtual patient platform for research, training, and patient engagement in cancer immunotherapy. Castor helps biopharmaceutical companies with clinical trial recruitment using its advanced clinical trial management software. Science 37 provides a decentralized clinical trials platform to enable end-to-end clinical research from participant recruitment to data collection and analysis in immunotherapy studies.

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