The Growth of Cancer Immunotherapy market is huge. The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry
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A recent report published by Fact.MR points towards disequilibrium in the distribution of cancer immunotherapy in developing and developed regions. In the U.S., high frequency of knowledge-based awareness campaigns encourages individuals to undergo cancer diagnostics, and government-led insurance plans cover high treatment spending.
In stark contrast, developing countries such as Brazil and Argentina lack primary cancer treatment tools. A similar scenario is witnessed in South Africa, where the mortality rate is high, owing to the late diagnosis of cancer. Developing countries of Asia Pacific with high population density and average penetration of quality treatment are serving as high potential cancer immunotherapy markets.
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Analysing a number of dynamics, the Fact.MR study foresees high opportunities in developing regions such as Latin America, the Middle East & Africa, and Asia Pacific, and projects nearly 1.7X growth of the cancer immunotherapy market during the forecast period (2020-2025).
Key Highlights of Cancer Immunotherapy Market Study
- Qualitative approach of therapeutic development turns highly cost-intensive for players in the cancer immunotherapy market. Additionally, high product rejection in trial phases leads to huge losses, which discourages manufacturers towards the development of new therapeutics.
- Progressive rise in the popularity of generic drugs, on account of the affordability factor, is diverting the patient base from spending on branded drugs, thereby weakening the sales prospects of manufacturers.
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- Incentives offered by central healthcare authorities on development of ‘orphan drugs’ are encouraging established manufacturers to venture into this space.
- Though hospitals are holding a dominant position as end users in the cancer immunotherapy market, a shift of patients towards clinics will remain noteworthy for market players, on account of shorter wait windows and improvements in healthcare services offered by these institutions.
A healthcare industry expert at Fact.MR infers, “Manufacturers can increase focus towards the development of anticancer drugs, particularly for lung cancer, given the influence of the multitude of drivers adversely impacting the health of lungs. By 2025, the adoption of immunotherapies to treat lung cancer would be valued at US$ 38 Bn.”
Threat from Conventional Therapies to Remain Growth Barrier for Manufacturers
Lack of proper awareness regarding advanced cancer treatment implies that, conventional therapies such as radiography and chemotherapy will not go obsolete, at least in the near future. Manufacturers are intensifying efforts towards product innovation to achieve orphan drug status and ensure high marketability.
Pfizer, Inc. best illustrates this strategy. The company has taken multiple initiatives such as collaborations, alliances, mergers, and licensing agreements to launch biologics and receive orphan status for its products. Monetary support from governments to manufacturers, with an intent to develop a promising pipeline of cancer therapeutics, is attracting a large number of new entrants, especially in North America. However, leading players would encounter a low threat of new entrants, on account of their high developmental knowhow and strong distribution networks.
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The report answers important questions which include:
- Why is player leading the Cancer Immunotherapy Market in region?
- Which factors pose a negative impact on the Cancer Immunotherapy Market growth?
- What was the value registered by the Cancer Immunotherapy Market in 2018?
- What challenges do the Cancer Immunotherapy Market players face during R&D stages?
- Which countries contribute a significant share to the total market revenue in region?
Key findings of the Market report:
- Prominent manufacturers, raw material suppliers, equipment providers, traders, and distributors in the Cancer Immunotherapy market.
- In-depth analysis of important market segments, market potential, impacting trends, and challenges.
- Critical examination of the strengths, weaknesses, opportunities and threats of each Market player.
- Extensive investigation of the effects of the growth of relevant industries.
- Accurate data regarding the future prospects of the Market during the forecast period.
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