According to the report “Cancer Immunotherapy Market“, published by Market Data Forecast, the global market is projected to reach USD 111.23 Billion by 2021, at a CAGR of 12.40 % from 2016 to 2021.
Cancer immunotherapy helps in inhibiting the growth of the cancer cells, stopping the cancer cells from spreading across the body, helping the immune system to fight better against the cancer cells. However, high effectiveness of treatment by cancer immunotherapy and less side effects associated with the treatments witness lucrative growth during the forecast period.
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The Key drivers of the market are increasing occurrence of cancer, Smoking and excessive alcoholic intake, Changing life style, high efficacy of immunotherapy compared to other treatments, less side effects associated with cancer immunotherapy, reduced chance of recurrence of cancer. Cost of cancer therapies, limited information on cancer immunobiology and various cancers like Melanoma shows resistance towards chemotherapy and radiation therapies are the major restraints that hamper the growth of the Cancer immunotherapy market.
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Some of the major companies dominating the global market are are F. Hoffmann-La Roche Ltd, Amgen, Viralytics, Novartis Pharmaceuticals Corporation, Pfizer, GlaxoSmithKline Pharmaceuticals Limited, AstraZeneca plc, Medivation, Advaxis, Bristol-Myers Squibb, Merck & Co. and Celgene Corp, Immunomedics.
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