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Immune-Oncology Market is Anticipated to Rise at a Significant CAGR Owing to Increase in R&D to Develop Anti-Cancer Drugs Till 2022: Radiant Insights, Inc.
SAN FRANCISCO, April 2, 2019 /PRNewswire/ --The global immune-oncology market is anticipated to rise at a significant CAGR in the forecast period. Immune-oncology market is driven by factors such as manufacturers' emphasis on upgrading immune-oncology drugs as well as increase in R&D to develop anti-cancer drugs. Development of innovative products coupled with product launches is anticipated to propel market growth in the near future. Increasing advances in healthcare settings and use of innovation in medical sector are now emphasizing better services to offer to cancer patients, which in turn has bolstered the immune-oncology market. By Type, the immune-oncology market segmentation includes mAb (Naked, Conjugate), Cancer Vaccines and Immune Checkpoint Inhibitors (PD-1, PD-L1, CTLA-4). By Application, the immune-oncology market is segmented as Lung, Melanoma, Leukemia, and Lymphoma. Leukemia and lymphoma account for a higher market due to rise in prevalence and low medical attention. Lung diseases witnessed a remarkable CAGR due to rise pollution and change in lifestyle.
Geographical segmentation for immune-oncology market includes North America, Latin America, Europe, Middle East, Asia-Pacific and Middle East and Africa. North America dominates the market growth in the global scenario owing to rise in improvements in healthcare settings and improved medical care. Advances in medicines and mode of drug administration also propels the growth of U.S. market. European market is expected to follow the same trend with a slight difference of reimbursement scenario. Favourable reimbursement for medical and cancer cases fuels the market. Asia-Pacific regions account for a significant market share in the global scenario rise in cancer patients and favourable reimbursements. Prominent players in the immune-oncology market include Amgen, Inc. AstraZeneca Plc, Bristol-Myers Squibb, Celgene Corporation, Pfizer Inc., F. Hoffmann-La Roche AG, Johnson & Johnson, Novartis International AG, AbbVie, Inc., Eli Lilly and Company, Merck & Co., Prometheus Therapeutics & Diagnostics, Sanofi S.A., EMD Serono, Inc., Aduro BioTech, Galena Biopharma, Bavarian Nordic, Celldex Therapeutics, ImmunoCellular Therapeutics, Gilead Sciences Inc. and Incyte.
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Immuno-oncology is a unique approach that uses the body's immune system to fight cancer. These therapies activate an individual's immune system, making it able to recognize cancer cells and destroy them. Immuno-oncology therapies provide long lasting anti-cancer benefits to patients who previously had very few treatment options available to them. These therapies work against a large number of cancer types. The technological advancements are helping the growth of immuno-oncology market. The biotechnology and pharmaceutical companies are striving to launch new and most effective therapies. According to the report "Immuno-Oncology Market, By Type [mAb (Naked, Conjugate), Cancer Vaccines, Immune Checkpoint Inhibitors (PD-1, PD-L1, CTLA-4]), By Application (Lung, Melanoma, Leukemia, Lymphoma) - Global Forecast to 2022", the global immuno-oncology market is anticipated to cross US$ 100 Billion by 2022. The report provides a detailed analysis of the global immuno-oncology market. The report also provides the current and forecasted market for immuno-oncology.
The report provides insights about the major drivers and challenges, along with the latest trends and developments impacting the industry growth. In addition, the report also highlights various opportunities available for growth of the global immuno-oncology market. Moreover, the report provides the sales of major marketed immuno-oncology drugs. The global immuno-oncology market has been segmented on the basis of type of product into monoclonal antibodies, therapeutic vaccines, and immune checkpoint inhibitors amongst others. According to the report, monoclonal antibodies segment was estimated to account for the largest share in 2016 due to rising prevalence of cancer & rising usage in a number of therapies (antibody-directed enzyme pro-drug therapy and radio immunotherapy).
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The report also sheds light on the geographic segmentation of the global immuno-oncology market. In 2016, North America was estimated to account for the largest share. Presence of major players, increased awareness and better distribution mechanisms are some of the prominent factors that have led to North America being the market leader. On the basis of type of cancer, the immuno-oncology market is dominated by Lung Cancer & Melanoma applications with several companies and academic institutions focusing on novel treatment approaches, thus making the major contribution to the global immuno-oncology market. The report provides the market analysis of major indications along with the forecast till 2022. A major focus has been on the ongoing clinical trials for the development of innovative products. In this context, the report provides information about the immuno-oncology programs at various stages of clinical development. In addition, the report highlights the strategic collaborations amongst the players for enhancing their market share.
The later part of the report discusses some of the prominent players in the global immuno-oncology market. Market share analysis of major players is also provided in the report. Furthermore, a brief business overview of each player has been provided along with their product and pipeline portfolios and recent developments. Overall, immuno-oncology is an important and rapidly emerging field. This report will prove as a complete source of knowledge and analysis for clients and potential investors.
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