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Rising Cancer Cases to Expand Cancer Immunotherapy Market Globally with CAGR of 7.5% between 2018 and 2027

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According to the World Health Organization, Cancer is the second leading cause of deaths around the globe.

The major reasons behind the growing number of cancer patients are higher consumption of alcohol, generality of smoking among people and the depletion of the ozone layer including other factors. This had driven the doctors and the medical industries to invest in the research and development to find the best possible solutions to fight the cancer which will result in faster control and recovery along with improving the overall quality of the life of the patients. Further, the growing initiatives by government bodies of different regions such as introduction of Ayushman Bharat-National Health Protection Scheme by government of India and various existing prodigious healthcare systems in Asia and Europe such as Urban Residents Basic Medical Insurance by China, National Health Service by U.K. government, System of Social Security in France, Health and Medical Service Act in Sweden among others are believed to supplement the growth of the cancer immunotherapy market around the world.

The global cancer immunotherapy market accounted for USD 42,584.18 Million in 2017. On the back of growing awareness regarding cancer immunotherapy among people, the global market of cancer immunotherapy is predicted to garner significant market valuation of USD 86,678.7 Million by the end of 2027. Further, the global cancer immunotherapy market is estimated to witness a notable compound annual growth rate of 7.5% during the forecast period 2018-2027.

In terms of regional segmentation, the global cancer immunotherapy market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, North America will lead the market by accounting around 37% of the total market share in 2027, followed by Europe and Asia that will collectively hold more than 50% of the market share by the end of 2027. The increasing technological innovations in cancer immunotherapy is the major factor that is expected to impel the growth of the North America cancer immunotherapy market, where U.S. is the prominent country driving the growth in the region.

The global cancer immunotherapy market is divided by the end user segment into hospitals, ambulatory surgical center (ASC’s), clinics and others. Among these segments, the hospital segment held the dominant share of around 65% during 2017 and is predicted to expand with remarkable growth over the forecast period. Further, the ambulatory surgical centers (ASC’s) and clinics segments are estimated to grow significantly in upcoming years.

The Report titled “Global Cancer Immunotherapy Market Outlook: Industry Demand Analysis & Opportunity Assessment 2017–2027”also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

This report also studies existing competitive scenario of some of the key players of the global cancer immunotherapy market which includes profiling of AstraZeneca, Merck & Co., Novartis, Advaxis Inc., Bristol-Myers Squibb (BMS), Bayer AG, Roche, Eli Lilly and Co., Amgen Inc. and Pfizer Inc.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Cancer Immunotherapy Market Outlook 2027”, analyses the overall cancer immunotherapy industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global cancer immunotherapy market in the near future.   

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