LONDON--(BUSINESS WIRE)--The global cervical cancer therapeutics market is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global cervical cancer therapeutics market is the increasing female health initiatives. The growing prevalence of various female health conditions has become one of the delicate concerns across the world. There has been a significant rise in the number of females affected with several oncology indications such as breast cancer and gynecological cancers, which includes cervical cancer. As a result, various female health initiatives are being carried out by several organizations including non-government organizations (NGOs). For instance, the American Cancer Society runs a National Breast and Cervical Cancer Early Detection Program (NBCCEDP). Such initiatives and programs allow female patients to discuss their problems with the concerned professionals and avail necessary treatment, thereby driving the market growth.
As per Technavio, the development of T-cell immunotherapy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global cervical cancer therapeutics market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global cervical cancer therapeutics market: Development of T-cell immunotherapy
The treatment available for cervical cancer currently includes chemotherapy and biologics such as vaccines and monoclonal antibodies. However, there are only a few biologics that are approved for the treatment of cervical cancer, which offers a huge opportunity for other effective treatment options such as adoptive T-cell therapy (ACT) and autologous tumor infiltrating lymphocytes (TIL). T-cell-based immunotherapy is gaining significant traction and is playing a pivotal role in the diagnosis of cervical cancer. T-cell-based immunotherapy is more specific and is entitled with broader therapeutic potential for cervical cancer.
“Apart from the increasing female health initiatives and the development of T-cell immunotherapy, factors such as the advancements in diagnostics, growing popularity of targeted therapies, advent of vaccines, and strategic alliances will have a significant impact on the growth of the cervical cancer therapeutics market during the forecast period,” says a senior research analyst at Technavio.
Global cervical cancer therapeutics market: Segmentation analysis
This market research report segments the global cervical cancer therapeutics market by type (drugs and vaccines) and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. The US, the world’s largest pharmaceutical market, is contributing significantly to the growth of the cervical cancer therapeutics market in the region, in terms of technology as well as the launch of new drugs and diagnostic tools. The market growth in North America can be attributed to the high prevalence of cervical cancer, advancements in diagnosis, and government initiatives that aim at preventing and controlling gynecological cancer in the region.
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Five Forces Analysis
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