WASHINGTON, Sept. 07, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Global Immuno-Oncology Clinical Trials Market has been steadily growing over the years due to increasing incidence of cancer, advancements in cancer research, the growing demand for personalized medicine, increased research and development activities in the field of immuno-oncology, as well as advancements in technology and supportive regulatory frameworks.
According to Vantage Market Research, the global Immuno-Oncology Clinical Trials Market is estimated to be valued at USD 18.1 Billion by 2030 and is expected to exhibit a CAGR of 15.3% during the forecast period 2023 to 2030. The global Immuno-Oncology Clinical Trials Market stood at USD 5.8 Billion in 2022.
The market for clinical trials that concentrate on immuno-oncology, a branch of cancer research and treatment that uses the immune system to combat cancer, is referred to as the "immuno-oncology clinical trials market." Clinical trials in immuno-oncology test and assess various immunotherapies, including adoptive cell therapies, cancer vaccines, and immune checkpoint inhibitors, in patients with various cancers.
Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/immunooncology-clinical-trials-market-2267/request-sample
Key Highlights
- By Phase segment, the Phase III category dominated the market with 54.2% of the revenue share in 2022.
- By Design, the interventional trials dominated the market and accounted for the largest revenue share of 75% in 2022.
- Based on the segment Indication, the Solid Tumor category led the market and accounted for more than 54% of the global revenue share in 2022.
- North America dominated the market and accounted for the largest revenue share of 48.5% in 2022.
The market for immuno-oncology clinical trials focuses on immunotherapy to treat various cancers. Clinical trials in immuno-oncology seek to improve the immune system's inherent capacity to combat and suppress the growth of cancer cells. These studies examine the efficacy of CAR-T cell therapy, immune checkpoint inhibitors, and other immunotherapeutic modalities. Clinical immuno-oncology trials have applications for various cancers, including lymphoma, breast, melanoma, lung, and melanoma. The market for immuno-oncology clinical trials has significantly expanded due to the rising demand for personalized medicine and the global rise in cancer incidence.
Top Companies in The Global Immuno-Oncology Clinical Trials Market
- ICON PLC (Ireland)
- IQVIA Holdings Inc. (U.S.)
- Covance (U.S.)
- BioNTech (Germany)
- IO Biotech Medical (Denmark)
- Medpace (U.S.)
- Novartis (Switzerland)
- Exscientia (UK)
- Syneous Health (U.S.)
- AstraZeneca (UK)
To Know an Additional List of Key Players, Request Here to Download a Free Report PDF Brochure: https://www.vantagemarketresearch.com/immunooncology-clinical-trials-market-2267/request-sample
OR
Enjoy a Fabulous 50% Discount with code "SEP50"! Don't miss out on these incredible savings @ https://www.vantagemarketresearch.com/buy-now/immunooncology-clinical-trials-market-2267/0
Factors Affecting the Growth of the Immuno-Oncology Clinical Trials Market
Several factors can affect the growth of the Immuno-Oncology Clinical Trials industry. Some of these factors include:
- Increasing prevalence of cancer: The growing incidence of cancer globally is a major factor driving the demand for immuno-oncology clinical trials. Immuno-oncology therapies have shown promising results in treating various types of cancer, leading to increased interest in conducting clinical trials in this field.
- Rising adoption of immunotherapy: Immunotherapy has gained significant attention recently due to its potential to offer long-lasting and durable responses in cancer patients. As a result, pharmaceutical companies and research organizations are growing interested in conducting clinical trials in immuno-oncology.
- Favorable regulatory environment: Regulatory agencies such as the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have supported the development of immunotherapies and have provided streamlined processes for approving these therapies. This has boosted pharmaceutical companies to invest in immuno-oncology clinical trials.
- Advancements in technology: The development of advanced technologies, such as next-generation sequencing and biomarker analysis, has facilitated the identification of potential targets for immunotherapies. This has increased the efficiency and success rate of clinical trials in immuno-oncology.
- Availability of funding: Funding from governments, non-profit organizations, and venture capitalists has supported the growth of immuno-oncology clinical trials. Funding is crucial in conducting extensive clinical trials and developing new therapies in this field.
- Patient demand: With the increasing awareness and availability of immuno-oncology therapies, patients increasingly demand access to these treatments. This demand has encouraged pharmaceutical companies and researchers to conduct clinical trials and bring new therapies.
Top Trends in the Global Immuno-Oncology Clinical Trials Market
Numerous significant trends reshaping the industry are being seen in the market for immuno-oncology clinical trials. First off, there is a growing emphasis on combination therapies, which pair immunotherapies with other medical interventions like chemotherapy or targeted therapies. This strategy seeks to boost the efficiency of immune-based therapies and enhance patient outcomes. Second, biomarkers that can forecast a patient's response to immunotherapies are becoming increasingly popular. Finding these biomarkers can improve treatment selection and help patients receive more individualized care. Novel immunotherapies, such as immune checkpoint inhibitors and CAR-T cell therapies, have also increased, which hold promise in treating various cancers.
Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/immunooncology-clinical-trials-market-2267/0
Recent Development of the Global Immuno-Oncology Clinical Trials Market
- On June 19, 2023, Coherus BioSciences and Surface Oncology signed a definitive merger agreement to acquire the immuno-oncology (I-O) company in a deal worth $65 million.
- On June 29, 2023, Immuno-Oncology company Biosyngen opened its newest Good Manufacturing Practice (GMP) facility in Singapore. This facility targets unmet medical needs in treating solid tumors and lymphomas.
- On June 16, 2023, the FDA approved TGI-6, a ground-breaking bispecific antibody developed by TG ImmunoPharma Co., Ltd. (TGI), a leading biotech company with a focus on the creation of novel immuno-oncology therapies. TGI-6 simultaneously targets CD3 molecules and distinct tumor-associated antigens (TAA), enabling powerful anti-tumor responses.
- On January 3, 2023, Alligator Bioscience and Orion started the second phase of their license agreement and collaborative immuno-oncology research project. Utilizing the Ruby platform from Alligator, the second program entails the creation of a brand-new bispecific antibody with potential uses in solid tumors.
Market Drivers
One major market driver for the Immuno-Oncology Clinical Trials market is the increasing prevalence of cancer worldwide. According to the World Health Organization (WHO), cancer is the second leading cause of death worldwide. The rise in cancer incidence has prompted researchers and pharmaceutical companies to develop innovative immunotherapeutic strategies to treat cancer. For instance, the approval of immune checkpoint inhibitors such as pembrolizumab (Keytruda) and nivolumab (Opdivo) for various cancer indications has led to a surge in clinical trials investigating their efficacy. This market driver highlights the need for immuno-oncology clinical trials in advancing cancer treatment options.
Market Restraints
A significant market restraint for the Immuno-Oncology Clinical Trials market is the high cost of clinical trial procedures and drug development. Conducting immuno-oncology trials can be expensive, involving recruiting patients, monitoring their progress, and analyzing the collected data. Additionally, developing novel immunotherapies requires substantial investment in research and development, manufacturing, and regulatory approval processes. For instance, the estimated cost of developing and bringing a single immune checkpoint inhibitor to market is over a billion dollars. These high costs challenge smaller biotech companies, making it difficult for them to compete with larger pharmaceutical companies in this sector.
Market Opportunities
The growing emphasis on personalized medicine presents a significant market opportunity for the Immuno-Oncology Clinical Trials market. Utilizing a patient's genetic, environmental, and lifestyle characteristics, personalized medicine aims to create a treatment plan for them. As researchers increasingly concentrate on identifying biomarkers and predictive factors that can help determine patient response to immunotherapies, this strategy has gained traction in immuno-oncology clinical trials. For instance, recent research has revealed that the programmed death ligand 1 (PD-L1) expression can be used as a biomarker to predict how the body will react to immune checkpoint inhibitors. By identifying such biomarkers, researchers and pharmaceutical companies can optimize patient selection and treatment strategies, improving clinical outcomes. This market opportunity highlights the potential for precision medicine to revolutionize cancer treatment by offering personalized immunotherapies based on extensively studied patient cohorts.
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on Immuno-Oncology Clinical Trials Market Forecast Report (2023-2030).
Report Segmentation of the Global Immuno-Oncology Clinical Trials Market
Design Analysis
The immuno-oncology clinical trials market appears to be dominated by interventional trials. This is so because interventional studies, which are more relevant to immuno-oncology trials, are more concentrated on testing a single intervention, such as a novel medicine, treatment method, or therapeutic approach. Researchers are actively involved in the trials, searching for the best therapeutic strategies to lessen cancer’s impact on patients. Interventional studies are more high-risk and resource-intensive than observational trials, which mostly analyze data already collected. Additionally, interventional trials are typically more alluring to pharmaceutical companies attempting to create novel treatments.
Indication Analysis
Solid tumors dominate the immuno-oncology clinical trials market in terms of indications due to their high prevalence and high mortality rates. Solid tumors form in organs or tissues, making them more difficult to treat than liquid tumors like leukemias or lymphomas. In solid tumors, the complex tumor microenvironment poses special difficulties for the immune system's efficient detection and eradication of cancer cells. Due to their potential to overcome the immunosuppressive barriers of solid tumors, immunotherapies like immune checkpoint inhibitors and CAR-T cell therapies have attracted significant attention and investment. For patients with few treatment options, PD-1 inhibitors like pembrolizumab have demonstrated promising outcomes in solid tumor types like metastatic melanoma or non-small cell lung cancer.
Phase Analysis
The trial phase segment is vital to establishing the efficacy and security of immunotherapy medications used to treat cancer. Phase III and II trials, the last stage of clinical trials before regulatory approval, are the dominant group in this market. Large patient populations are used in phase III trials to compare an immunotherapy drug's efficacy versus that of placebos or more traditional treatments. These tests evaluate the drug's safety, dose, and side effects. Companies spend a lot of money on Phase III trials because successful outcomes can result in regulatory approval and drug launch.
Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/immunooncology-clinical-trials-market-2267
Market Segmentation
By Design
- Interventional Trials
- Observational Trials
- Expanded Access Trials
By Indication
- Solid Tumors
- Hematological Cancer
- Other Indications
By Phase
- Phase I
- Phase II
- Phase III
- Phase IV
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 5.8 Billion |
| Revenue Forecast by 2030 | USD 18.1 Billion |
| CAGR | 15.3% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | ICON PLC, IQVIA Holdings Inc., Covance, BioNTech, IO Biotech Medical, Medpace, Novartis, Exscientia, Syneous Health, AstraZeneca |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/immunooncology-clinical-trials-market-2267/customization-request |
Regional Analysis
Creating immune checkpoint inhibitors like pembrolizumab and nivolumab, which have transformed cancer treatment globally, is an impressive illustration of North America dominating the immuno-oncology trials market. These innovative treatments are the result of extensive North American clinical trials, demonstrating the region's dedication to advancing immunotherapies. In essence, North America's dominant position in the market for immuno-oncology clinical trials is a result of a combination of its advanced infrastructure, research capabilities, industry support, and regulatory framework. Due to numerous incidences of cancer and the expanding use of immunotherapy treatments, Europe follows closely. Furthermore, due to expanding healthcare facilities and a rise in initiatives by public and private sector organizations to fight cancer, the Asia Pacific region is predicted to experience significant growth in the immuno-oncology clinical trials market. For stakeholders to make informed decisions and take advantage of new opportunities, it is essential to understand the regional trends and factors affecting the market in various regions.
Browse More Reports from Vantage Library:
Clinical Workflow Solutions Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/clinical-workflow-solutions-market-2270
Vaccine Contract Manufacturing Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/vaccine-contract-manufacturing-market-2269
Healthcare Facilities Management Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/healthcare-facilities-management-market-2265
Medical Tourism Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/medical-tourism-market-2263
Health Information Exchange Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/health-information-exchange-market-2260
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook | YouTube
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website:
https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Vantage Market Research All Reports
Blog:
