The Global Cancer Immunotherapy Market is projected to reach $320.14 billion by 2027, from a value of $112.59 billion in 2020, by registering a CAGR of 16.1% during the forecast period. Rising R&D activities, development of bioinformatics tools enhancing drug development process, growing patient pool and higher mortality rate, increasing number of approvals for new immunotherapeutic drugs, rising prevalence of cancer across the world, growing number of ongoing clinical trials with the help of growing investments by major players, and growing aging population are the major factors propelling the growth of the market. However, high cost of treatment and stringent government regulations are hampering the market growth. Moreover, emergence of targeted and combination therapies, growth in the transition from prophylactic to therapeutic cancer vaccines, high growth prospects in developing countries, and emergence of biosimilars are creating ample opportunities across the globe.
Recent Developments
In June 2020, Merck and Junshi Biosciences collaborated to explore promising new combination treatment for head and neck cancer patients in China. The collaboration on a clinical trial program is designed to investigate the efficacy and safety of anti-PD-1 mAb toripalimab (TUOYI®) in combination with Cetuximab (Erbitux®) as a treatment for recurrent and/or metastatic squamous cell carcinomas of the head and neck (R/M SCCHN) in China.
In May 2020, Oncimmune partnered with Roche to profile autoantibodies during cancer trials. This new contract is expected to provide Oncimmune with the opportunity to further contribute to the understanding of individual patient responses to immunotherapy through immune profiling.
In November 2019, Roche Holding AG received approval to launch its atezolizumab new cancer immunotherapy in India. It is beneficial to treat small cell lung cancer patients with chemotherapy. Also, the company wants to expand its developed market in India for the treatment of cancer disorders.
In May 2018, Eli Lilly acquired ARMO BioSciences and its lead treatment candidate pegi lodecakin which is in Phase 3 trials. The acquisition will bolster the Lilly’s immuno-oncology program through the addition of ARMO’s lead product candidate, pegilodecakin, a PEGylated IL-10 which has demonstrated clinical benefit as a single agent, and in combination with both chemotherapy and checkpoint inhibitor therapy, across several tumor types.
In November 2017, GlaxoSmithKline has received approval to fast-track the development of a potentially transformation blood cancer treatment, as it doubles down on its search for new blockbuster drugs to offset declining sales of its older products. The US Food and Drug Administration granted Breakthrough Therapy Designation for the new drug currently named only GSK2857916.
Competitive Landscape
Eli Lily And Company, Oncimmune, Novartis AG, Amgen Inc., Merck & Co., Inc., Bayer AG, Pfizer, Inc., Seattle Genetics Inc.,m Astrazeneca, PLC, Immunomedics Inc., Celgene Corporation, F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., Johnson & Johnson, Dendreon Pharmaceuticals, Bristol-Myers Squibb Company, GlaxoSmithKline Pharmaceuticals Limited, Spectrum Pharmaceuticals, Inc., and Dr. Reddys Laboratories Ltd. are some of the major players in the global cancer immunotherapy market.
