According to the findings of a report made available by Radiant Insights, Inc., the global cancer immunotherapy market is projected to register a robust CAGR during the forecast period (from 2017 to 2021). Rising cases of cancer and adoption of highly advanced therapeutics are anticipated to be key growth driving factors for the global market.
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Healthcare providers are also aiming at providing enhanced treatments and enabling reduced cancer recurrence after chemotherapy. On the other hand, adverse effects and high prices associated with drugs are likely to hamper the overall market in future. Moreover, lack of awareness among people about advanced treatments and shortage of skilled professionals may hinder market growth.
Nevertheless, rise in expenditure for healthcare and healthcare insurance and advent of new drugs are estimated to boost the market during the next four years. Immunomodulatory drugs such as lenalidomide, pomalidomide, and thalidomide have been the go-to drugs in the past. However, advent of newer treatments such as HDAC inhibitors and monoclonal antibodies are estimated to initiate new industry trends, thereby driving this market. In addition, approval of various innovative drug forms such as adjuvants and vaccines is said to propel the market over the forecast period.
According to a recent study carried out by a group of experts at the Fred Hutchinson Cancer Research Center, blood cancer patients that are at risk of adverse effects of immunotherapy called neurotoxicity can be recognized by looking for particular markers. A group of patients was given CD19 CAR T cell therapy, which was developed at the U.S. research center. The most common side effect was delirium, while other neurotoxicity forms included problems with speech, headaches, and seizures in few cases. According to a Cancer Research UK-funded CAR T cell expert, these findings could help in development of exact biomarkers for severe neurotoxicity and strategies to reduce its severity.
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Based on region, the global cancer immunotherapy market is divided into Europe, Asia Pacific, and North America. North America accounted for a considerable share in the past. Factors such as growing geriatric population base, increasing cases of cancer, and easy access to advanced therapeutics have driven the North America regional market for cancer immunotherapy.
Asia Pacific cancer immunotherapy market is also anticipated to witness fast-paced growth over the forecast period. Rising cases of cancer in the region is likely to augment market demand in future. In addition, presence of key market players like Pfizer, Inc. and Merck & Co., Inc. with significant market investments is propelling the APAC regional market.
Along with ongoing clinical trials, many advanced immunotherapy drugs are being introduced in countries such as Japan and China, which is likely to contribute toward the growth of this region. In addition, FDA approvals of new treatment drug molecules and combination therapies are encouraging the adoption of immunotherapy for treatment of tumors. This is also expected to support the regional market over the coming years.
Some of the key companies operating in the worldwide cancer immunotherapy market are Pfizer, Inc.; F. Hoffmann-La Roche AG; Eli Lilly and Co.; Bristol-Myers Squibb Co.; Novartis AG; and Merck and Co., Inc.
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