Sarasota, FL, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Immuno-oncology Therapy Market by Therapy Type (Monoclonal Antibodies, Immune Checkpoint Inhibitors (PD1/ PDL1 and CTLA-4), Immune System Modulators, Cancer Vaccines and Others), by Therapeutic Area (Lung Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Melanoma, Blood Cancer and Other Cancers) for Hospitals, Clinics, Ambulatory Surgical Centers and Cancer Research Institutes: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022”. According to the report, global immuno-oncology therapy market was valued at approximately USD 42.97 billion in 2016 and is expected to generate revenue of around USD 97.34 billion by 2022, growing at a CAGR of around 14.6% between 2017 and 2022.
Immuno-oncology or cancer immunotherapy also called as biologic therapy, is a type of cancer treatment that boosts the body's natural defenses to fight cancer. It uses substances made by the body or in a laboratory to improve or restore immune system function. The number of deaths occurring due to cancer is increasing every year and has therefore forced government bodies to take initiatives for the improvement of the health conditions of people, by investing heavily in research and development and enabling innovation and advancements in technology so as to offer improved treatments. Healthcare providers are focusing on improving treatments and reduction in recurrence of cancer post-chemotherapy. This has pushed the growth of the immuno-oncology therapy market globally.
Browse through 90 Tables & 30 Figures spread over 110 Pages and in-depth TOC on "Global Immuno-oncology Therapy Market: By Type, Size, Share, Growth Analysis and Forecast 2016 – 2022”.
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Rising R&D in cancer immunotherapy is resulting in the introduction of advanced treatment options that are more effective and efficient. A paradigm shift from traditional chemotherapies to immunotherapies is propelling the overall market growth. Introduction of new drugs has resulted in an increase in the competitive rivalry. Immuno modulatory drugs, such as thalidomide, lenalidomide, and pomalidomide, were the best treatment options available in the past few years. Introduction of newer drug classes, such as monoclonal antibodies and HDAC inhibitors, designed to target receptors related to multiple myeloma, is expected to initiate newer trends in the market. Ongoing studies on similar drugs designed to minimize side effects are expected to propel the market for these drug classes in the immuno-oncology therapy market.
The immuno-oncology therapy market is segmented on the basis of therapy type into monoclonal antibodies, immune checkpoint inhibitors, immune system modulators, cancer vaccines and others. Immune checkpoint inhibitors are further segmented into PD1/ PDL1 and CTLA-4. Monoclonal antibodies segment is expected to grow at fastest rate in the global market over the forecast period.
Browse the full " Immuno-oncology Therapy Market by Therapy Type (Monoclonal Antibodies, Immune Checkpoint Inhibitors (PD-1/PD-L1 and CTLA-4), Immune System Modulators, and Cancer Vaccines) and by Therapeutic Areas, for Hospitals, Clinics, ASC’s and Cancer Research Institutes: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022?" report at https://www.zionmarketresearch.com/report/immuno-oncology-therapy-market
Based on the therapeutic area the market is segmented into lung cancer, colorectal cancer, breast cancer, prostate cancer, melanoma, blood cancer and other cancers. Breast cancer segment is expected to grow at fastest rate in the global market over the forecast period.
North America held the largest revenue share in 2016. Rising incidence of the disease, increasing ease of access to modern therapeutics, coupled with expanding the geriatric population, is propelling the market in this region. On the other hand, factors, such as challenges in clinical trials, coupled with higher costs and rapidly changing reimbursement policies, are impeding the growth of the immuno-oncology market in North America.
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Europe is the second largest regional market and is expected to show significant growth in the years to come. The cost of immuno-oncology therapies has been steadily rising over the last several years.
The AsiaPacific is expected to experience fastest growth. Rising incidence of the disease and in turn, rising mortality rate is propelling demand for immunotherapy in the region. Moreover, presence of market players with major investments in the market, such as AstraZeneca; Merck & Co., Inc., and Pfizer, Inc., is boosting the Asia Pacific market. Also new and advanced immunotherapy drugs are being introduced in China and Japan. These countries have several ongoing clinical trials as well as FDA approvals for new drug molecules and combination therapies. Approval of new treatment drugs in China and Japan are boosting adoption of immunotherapy in treatment of tumors.
The Middle East and Africa holds the least growth in comparison to other region, although, increasing occurrence of cancer owing to smoking, change in lifestyle, and excessive alcohol intake are driving the immuno-oncology therapy market in this region. Latin America is also another important regional market and is expected to experience moderate growth over the forecast period. Thus, all the aforementioned parameters are expected to propel the market growth globally.
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Some of the key players in immuno-oncology therapy market include Amgen, Inc., AstraZeneca Plc., Bristol-Myers Squibb Company, Eli-Lilly and Company, F.Hoffmann-La Roche Ltd., GlaxoSmithKline Plc., Janssen Biotech, Inc., Merck and Co., Novartis AG, Pfizer, Inc., Sanofi, Spectrum Pharmaceuticals and Takeda Pharmaceuticals. Major players are frequently engaged in mergers & acquisitions to retain their market share and diversify their product portfolio. Also, key parameters affecting competition are rapid adoption of advanced treatment options for improved healthcare coupled with the rising need for optimum capital utilization.
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This report segments the global immuno-oncology therapy market as follows:
Global Immuno-oncology Therapy Market: Therapy Segment Analysis
- Monoclonal Antibodies
- Immune Checkpoint Inhibitors
- PD1/ PDL1
- CTLA-4
- Immune System Modulators
- Cancer Vaccines
- Others
Global Immuno-oncology Therapy Market: Therapeutic Area Segment Analysis
- Lung Cancer
- Colorectal Cancer
- Breast Cancer
- Prostate Cancer
- Melanoma
- Blood Cancer
- Other Cancers
Global Immuno-oncology Therapy Market: End-user Segment Analysis
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Cancer Research Institutes
Global Immuno-oncology Therapy Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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