The global cancer immunotherapy market size is likely to reach USD 126.9 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 9.6% during the forecast period. Increasing patient pool and higher mortality rate are augmenting the need for cancer immunotherapy globally. Furthermore, increasing number of approvals for new immunotherapeutic drugs is driving the global market.
Cancer immunotherapy has emerged as a new avenue for revenue generation for pharmaceutical companies. In addition, adverse effects, such as recurrence of cancer and organ failure, associated with conventional chemotherapies and rising demand for technologically advanced healthcare solutions are boosting the demand for immunotherapies. Moreover, introduction of newer drug classes, such as target receptors for multiple myeloma and checkpoint inhibitors, is poised to make way for advanced therapeutics in the market.
Introduction of new molecules has been proving to be beneficial for patients who are not responding to chemotherapy. Several new immunotherapeutic options, such as immunomodulators and CAR-T cell therapy, are in the pipeline and are being tested for their ability to provide better cancer treatment.
Monoclonal antibodies are the most widely used immunotherapeutic drugs globally. Development of monoclonal antibodies as effective immunotherapeutic options started after the approval of Blincyto (blinatumomab) by Amgen, a bispecific antibody that targets B-cell lymphoblastic leukemia. Increasing R&D pertaining to the use of monoclonal bodies as naked antigen binding antibodies, conjugated, and bispecific antibodies is resulting in discovery of new therapeutic options for cancer treatment.
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Cancer Immunotherapy Market Report Highlights
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Cancer Immunotherapy Market Segmentation
Grand View Research has segmented the global cancer immunotherapy market based on product, cancer type, and region:
Cancer Immunotherapy Product Outlook (Revenue, USD Billion, 2015 – 2026)
Cancer Immunotherapy Cancer Type Outlook (Revenue, USD Billion, 2015 – 2026)
Cancer Immunotherapy Regional Outlook (Revenue, USD Billion, 2015 – 2026)
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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