Cancer Immunotherapy Market Size, Share, Growth Analysis, By Product Type(Monoclonal Antibodies [Naked Monoclonal Antibodies, Conjugated Monoclonal Antibodies, Bispecific Monoclonal Antibodies], Vaccines [Prophylactic Vaccines), By Cancer Type(Lung Cancer, Breast Cancer, Multiple Myeloma, Colorectal Cancer), By End-User(Hospitals, Clinics & Others), By Region - Industry Forecast 2024-2031

Cancer Immunotherapy Market Drivers

High Efficacy of Immunotherapy to Boost Market Growth

• Increase in the adoption of immunotherapy treatment over others like radiation therapy and chemotherapies, having more side-effects is the major factor expected to drive the growth of the global cancer immunotherapy market over the forecast period. The former therapies are completely based on destroying cancer cells by irradiation or surgery, the use of these therapies is often limited because they are estimated to kill several healthy cells ae well. Hence, various end-use industries such as hospitals and surgical centers are moving towards immunotherapy treatment, as it enhances the body’s own immunity with the help of man-made proteins, which is fostering the growth of the global market.
  Besides, there are several cases where cancer patients are beyond the conventional diagnosis and herein patients avail immunotherapy to counter the spread of cancer. In addition, there are solid examples of positive clinical trial results for advanced or metastatic cancer patients.

Cancer Immunotherapy Market Restraints

Huge Investments for R&D to Hamper Market Growth

• High manufacturing cost and high price for end-user as well is the major factor anticipated to hamper the growth of the global cancer immunotherapy market over the forecast period. Enhancement and development in treatment requires a very large amount of resources and high investment, which is expected to slow down the growth of the market in the coming years.
  Lack of medical access in remote areas and geographical challenges are likely to limit the awareness for cancer immunotherapies.