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.
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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.
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).
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Key Highlights of Cancer Immunotherapy Market Study
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.”
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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.
Find More Valuable Insights on Cancer Immunotherapy Market
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global cancer immunotherapy market, presenting historical demand data (2016-2019), and forecast statistics for the period of 2020-2025. The study divulges compelling insights on the cancer immunotherapy market on the basis of therapy (monoclonal antibodies, immune checkpoint inhibitors, immune system modulators, cancer vaccines, and others), cancer type (lung cancer, colorectal cancer, breast cancer, prostate cancer, melanoma, blood cancer, and others), and end user (hospitals, ambulatory surgical centres, cancer research centres, and clinics), across five major regions.
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