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Increasing incidences of cancer to fuel the global cancer immunotherapies market by 2020

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Cancer immunotherapies: Key market research findings

  • Increase in the pervasiveness of cancer
  • Strategic alliances between vendors

Technavio has released a new market research report on the global cancer immunotherapies market, which is expected to grow at a CAGR of around 15% by 2020. The primary driver for the cancer immunotherapies market is the increasing incidence of cancer in the last two decades. Currently, the Americas dominate the market with a market share of over 47% owing to the rise in prevalence of cancer and favorable public health initiatives by the government. slower than EMEA and APAC. Higher incidences of cancer in the US, Canada, and Latin America, resulting in the growing consumption of cancer immunotherapies, is the primary driver for the market in this region. 

The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.

“The increase in the prevalence of cancer has triggered innovations and technological advances to develop new cancer immunotherapies that are more effective than the drugs available. The emergence of biosimilars which are cheaper and more accessible compared biologics will contribute to the growth of the cancer immunotherapies market. The emergence of targeted and combination therapies is also expected to boost the market during the forecast period,” Barath Palada, Lead Analyst, Pharma, Technavio Research.

Strategic alliances between vendors with respect to collaboration and licensing, co-development and commercializing of drugs provide immense growth opportunities in the global cancer immunotherapies market. Co-development agreements such as these ensure the in-flow of adequate funds for both the companies and reduce liability costs for individual companies in case of failures, thereby attracting more venture investments. For instance, Seattle Genetics developed a combination of Adcetris and Opdivo to treat hematologic malignancies in collaboration with Bristol-Myers Squibb. The drug Adcetris, originally developed by Seattle Genetics, is now being marketed in collaboration with Takeda in countries other than the US and Canada.

The key vendors in the global cancer immunotherapies market include Amgen, Bristol Mayer Squibb, GSK, Merck, Roche, and Takeda Pharmaceuticals. The global cancer immunotherapies market is highly competitive owing the presence of numerous small and large players that operate on a local or global scale.

A more detailed analysis is available in the Technavio report, Global Cancer Immunotherapies Market 2016-2020.

We can customize reports by other regions and specific segments upon request.

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