Immuno-oncology treatment is a specialized type of targeted therapy that involves the stimulation of body’s own immune system in order to generate a response against the target cancer cells. The administration of certain drugs is required to initiate such responses from the body. Immuno-oncology therapy ensures that the immune cells detect and destroy only the cancerous cells and not the healthy cells of the body. This therapy is an emerging treatment method as it can be used in place of chemotherapy and radiotherapy so as to prevent their side-effects including lower recover rate and deteriorating quality of life in patients. The market for immune-oncology treatment is projected to grow by a CAGR of 12.68% during the forecast period, i.e., 2020-2027. Moreover, the market is anticipated to attain a value of USD 157,230.48 million by the year 2027. CLICK TO DOWNLOAD SAMPLE REPORT
Growth Highlights based on Region during 2018-2027
The global immune-oncology treatment market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa, out of which, the largest share is estimated to be occupied by the market in North America over the forecast period. The market in this region held a share of 48.13% in 2018, with the U.S. driving the market growth. The growing investments in the healthcare industry by various government and private organizations so as to maintain high quality healthcare services and products is anticipated to contribute towards the market growth. Additionally, the innovative treatment methods, including those based on personalized medicine, are further predicted to result in growth of immune-oncology treatment market in the region.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
On the basis of product, the market is segmented into cellular immunotherapy, monoclonal antibodies, immune checkpoint inhibitors, cancer vaccines & cytokine therapy, out of which the immune checkpoint inhibitors segment is projected to observe the highest demand in the market during the forecast period. The noteworthy growth of this segment can be attributed to the wide range of applications where they are currently approved. The demand for products is estimated to remain high on account of their growing uses in a large number of countries.
The immune-oncology treatment market is segmented by administration into standalone therapy and combination therapy. Out of these, the combination therapy segment occupies the largest portion in the market as a result of growing number of approved treatments that are being combined with other chemotherapy drugs and immunotherapy products in order to develop a highly effective therapy. Combination therapies are required in cases where strong therapeutic medication is required or when cancer spreads to various regions of the body.
By End User
Based on end user, the market is segmented into hospitals, ambulatory surgical centers, clinics and others. The hospitals segment is predicted to reach a market value of USD 109,482.05 million by 2027 and is thereby estimated to hold the largest share in the market. The growing number of patients in hospitals as compared to other smaller healthcare facilities is anticipated to be a major growth driving factor for this segment.
Market Drivers and Challenges
Cancer is the second leading cause of death globally. According to the World Health Organization, the global cancer burden is estimated to have risen to 18.1 million new cases and 9.6 million deaths in 2018. Further, the 5-year prevalence, or the number of people who are alive during the first 5 years of cancer diagnosis, is estimated to be 43.8 million globally. The rising cases of cancer is the major factor anticipated to support the market growth in the coming years. The growing incidence of this disorder can be attributed to ageing global population as well as increasing exposure to various cancer risk factors. Further, WHO estimates that cancer causing infections, such as hepatitis and human papilloma virus (HPV), are responsible for up to 25% of cancer cases in low- and middle-income countries. The growing healthcare expenditure and technological advancements in the healthcare industry are some other factors anticipated to result in a significant growth of immune-oncology treatment market.
There are some aspects which are anticipated to restrict the market growth over the forecast period. The limited access to advanced healthcare is a major barrier for the immuno-oncology treatment market. The development and approval of cancer therapies is a lengthy procedure which requires large investments. Moreover, the cancer patients residing in low- and middle-income countries have limited access to treatments and services, which results in a disproportionate increase in cancer mortality.
Some of the affluent industry leaders in the global immuno-oncology treatment market are F. Hoffmann-La Roche Ltd, Merck & Company, Inc., AstraZeneca Plc., Novartis, Amgen Inc., Pfizer Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Janssen and GlaxoSmithKline plc. Moreover, other key and niche players are working towards the expansion of product portfolio along with investing in high quality R&D to develop highly engineered and innovative technologies for immune-oncology therapy for cancer in order to gain competitive edge in the global immune-oncology treatment market.
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