Immunotherapy also referred as biologic therapy is a kind of treatment which is designed to enhance human immunity system to fight against cancer. Immunotherapy restores or improves immunity system to restrict growth of cancer cells, preventing it to spread to other parts of the body and also enables the immunity system to destroy cancer cells from the body.
Global Immunotherapy Drug market is envisioned to exhibit a compound annual growth rate (CAGR) of 13.0% during 2015-2021.
By Drug Types
Based on types, global Immunotherapy Drug market can be segmented into:
Growth Drivers and challenges
Rising incidences of cancer across the globe coupled with increasing inclination towards cancer treatments with lesser side effects are believed to augment the growth of global immunotherapy drug market in future.
In addition to that, escalation of approval process in cancer related drugs is also expected to drive the global immunotherapy drug market over the forecast period i.e. 2015-2021.
However, high cost associated with immunotherapy devices along with lack of awareness of biologic cancer therapy is anticipated to hamper the growth of global immunotherapy drug market over next few years.
Market Size and Forecast
North America is believed to hold the first rank in global immunotherapy drug market during 2015-2021. It is projected that in 2016, 1.7 million new cancer cases would be detected in the U.S., making the country a major market for immunotherapy drugs in North America. The immunotherapy drug market in the region is also believed to spurt from higher spending on health care sector.
Western Europe immunotherapy drug market is also expected to witness a promising growth sparked by rising cases of lung cancer, which is responsible for 215 of all cancer mortalities in the European region.
Asia-Pacific immunotherapy drug market is likely to behold the highest CAGR during the forecast period i.e. 2015-2021. Rising per capita income and increasing investments on healthcare infrastructure are some of the major factors which are projected to bolster Immunotherapy Drug market in countries such as India and China.
Global Immunotherapy Drug market includes some of the major players such as AbbVie Inc., Amgen Inc., Novartis International Ag, F. Hoffmann-La Roche Ltd, Merck, GlaxoSmithKline plc, Bristol-Myers Squibb Company, Johnson & Johnson Services Inc, AstraZeneca plc, Pfizer Inc.
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