As specified in our exclusive report, the global Cancer Immunotherapy Market is projected to reach USD 275.5 billion by 2030.
Moreover, increasing day-by-day incidence of cancer, increasing awareness about early diagnosis, the effectiveness of therapy, cancer treatment among people globally, and an aging population are some of the key factors driving the growth of the global cancer immunotherapy market.
Excessive alcohol consumption, smoking, and unfavorable lifestyle are some of the root causes of cancer. However, cancer immunotherapy is a treatment that uses parts of a person's immune system to fight cancer, your own immune system to attack cancer cells, or to be suppressed by man-made immune system proteins.
Immunotherapy is a type of cancer treatment that boosts the body's natural immunity to fight cancer and can kill cancer cells. Our body's immune system is powered by muscles called T cells. These cells fight germs or viruses in our bodies. But when cancer occurs or cancer cells start growing too fast and when they interact with T-cells, their T-cells become inactive and can't recognize these cancer cells and so they don't kill them. Because of this, your body's immune system is unable to fight cancer.
To understand this, scientists have developed a therapy that can be delivered through saline and that can change or stop the conversation between T-cells and cancer cells. Because of this, T cells are able to recognize and kill cancer cells. Nowadays, immunotherapy is used in all types of cancer. But doctors have to do some tests, such as some molecular tests called MSI tests, based on the reports, doctors can predict how beneficial the immunotherapy will be for the patients. Immunotherapy is effective in treating bladder, lung, mouth, kidney, and some types of skin and blood cancers. Immunotherapy is also being used in advanced cancers.
September 2021: The Bristol-Myers Squibb company conducted a survey that included 250 oncologists, specialists, and surgeons from countries such as the US, Germany, and Japan. The survey showed that potential immunotherapies can be detected at an early stage of cancer.
Which Region Holds the Largest Share?
The Asia Pacific region is projected to grow at a rapid rate over the forecast period and this is due to an increase in FDA approvals for novel drugs and therapies and an increase in the number of clinical trials to introduce new drugs to countries.
Some of the key players in the cancer immunotherapy market are:
F. Hoffmann-La Roche (Switzerland), Celgene Corporation (US), Bristol-Myers Squibb (US), Merck & Co., Inc. (US), Amgen Inc. (US), ELI Lilly and Company (US), Janssen Global Services, LLC (US), Novartis (Switzerland), Pfizer, Inc. (US), Gilead Sciences, Inc. (US), Dendreon Pharmaceuticals (US), Bayer (Germany), and Others.
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