The cancer immunotherapy market has been growing pervasively and will continue to grow in the years to come owing to the growing prevalence of cancer attributed mainly to the changing lifestyle. Although cancer is no more considered a deadly disease nowadays, there still exist around 100 different types of cancer.
Thanks to the cancer immunotherapy, that helps the immune system to target cancerous tumor cells, which is weakened due to the advancement of disease infections. While WHO has constantly been updating the world with the growing number of cancer cases worldwide; innovations getting transpired in the field of cancer therapies and treatments are too growing every year.
Recently, Market Research Future (MRFR) published a study report exclusively on the Asia Pacific market for Cancer Immunotherapy accentuating the growth prospects and strategies of Markey Key players up till 2023. According to the MRFR analysis, the Asia Pacific market of Cancer Immunotherapy which is already booming with the augmented rate of innovations; is expected to gain further prominence over the forecast period.
The Asia Pacific Cancer Immunotherapy market is projected to grow with a staggering double digit CAGR of 15.5% during the estimated period 2017-2023. The size of the market is expected to increase by three fold just in six years.
Increasing number of patient pool suffering from cancer has spurred the growth of the market. Increasing awareness of the Cancer Immunotherapy coupled with the advantages it offers, technological advancement, rapid adoption and increasing demand from emerging economies such as India and China are driving the growth for the market.
Some other factors like rising adverse effects, such as recurrence of cancer and organ failure, associated with conventional chemotherapies are driving the market growth. Growing research & development, clinical trials, and new approvals are leading the market growth. Companies are collaborating with hospitals and independent research centers to bring novelty into therapies are another major driving factor for the market.
The rapid adoption of Cancer Immunotherapy by medical professionals as well as patients and increasing success rate are primary factors for the growth of Asia Pacific Cancer Immunotherapy market. The markets for Cancer Immunotherapy in emerging economies are flourishing, and the demand for newer Cancer Immunotherapy is expected to rise in the near future.
While, lack of awareness and adverse effects associated with immune therapeutic drugs are expected to present challenges to the Cancer Immunotherapy market; major factors such as increasing number of immunotherapeutic drug classes, especially the target receptors for multiple myeloma and checkpoint inhibitors are expected to boost the market growth.
Simultaneously, the introduction of new molecules that has already been proven to be a boon for patients with inactive response to chemotherapy and numerous advent immunotherapeutic options, such as immunomodulators and CAR-T cell therapy, which will be soon available for public with their ability to provide better cancer treatment are expected to foster the growth of the cancer immunotherapy market in the Asia Pacific region.
Immunotherapy for Cancer - Segments
Asia Pacific Cancer Immunotherapy Market is segmented into four Key dynamics for an easy grasp and enhanced understanding.
By Therapies : Comprises - Monoclonal Antibodies (Naked Monoclonal Antibodies, Conjugated Monoclonal Antibodies, & Bispecific Monoclonal Antibodies), Cytokines (Interferon, Interleukins), Adoptive Cell Transfer, Vaccines, and Immunomodulators among others.
By Applications : Lung Cancer, Liver Cancer, Childhood Cancer, Colorectal Cancer, Stomach Cancer, and Lung Cancer among others.
By End-Users : Hospitals, Clinics, Research Laboratories, and Cancer Institute among others.
By Regions : North America, Europe, APAC and Rest-of-the-World.
Asia Pacific Cancer Immunotherapy Market - Country-wise Analysis
India and China markets, backed by the presence of a huge patient population, contribute to the Asia Pacific cancer immunotherapy market largely. The increasing government support for research & development makes India the largest market for Cancer Immunotherapy in the region.
Whereas, owing to the rising government initiatives & support and increasing healthcare expenditures rising with the improving economy in the country drives the cancer immunotherapy market in China. China is the second-largest market for cancer immunotherapy followed by Japan.
Factors such as the availability of highly skilled healthcare professionals and increasing demand for the treatment along with the high uptake of these therapies are fostering the cancer immunotherapy market in Japan.
Bristol-Myers Squibb Company (US), Amgen, Inc. (US), Eli Lilly and Company (US), GlaxoSmithKline Plc. (UK), AstraZeneca Plc. (UK), Bayer AG (Germany), Pfizer, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Merck & Co., Inc. (US), Spectrum Pharmaceuticals Inc. (US), Novartis AG (Switzerland), Janssen Biotech, Inc. (US), AbbVie Inc. (US), Sanofi (France), Takeda Pharmaceuticals (Japan), Immunomedics (US), and Oncomed Pharmaceuticals (US) are some of the prominent players at the forefront of competition in the Asia Pacific Cancer Immunotherapy Market.
Industry, Innovation & Related News
July 02, 2018 – AstraZeneca Plc. (UK), a multinational pharmaceutical and biopharmaceutical company announced that its Imfinzi immunotherapy drug had received regulatory approval for new uses of two of its important cancer drugs in Japan.
Imfinzi immunotherapy is for the lung cancer patients with inoperable disease that had advanced locally but not spread widely around the body. The decisions by the Japanese Ministry of Health, Labour and Welfare, reflect an increased urgency by officials in the country to access modern medicines.
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