DUBLIN--(BUSINESS WIRE)--The "Global Cancer Immunotherapy Drug Discovery Outsourcing Market Size, Share & Trends Analysis Report by Drug, by Service, by Cancer Type (Lung, Breast, Colorectal, Melanoma, Prostate, Pancreatic), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global cancer immunotherapy drug discovery outsourcing market size is expected to reach USD 2.6 billion by 2030. The market is expected to expand at a CAGR of 10.2% from 2022 to 2030. The main drivers of this market are the increasing prevalence of cancer worldwide, increasing investment by pharmaceutical and biotechnology companies in cancer research, and the rise in awareness among people for advanced treatment of cancer.
Also, disruptions in the supply chain, travel restrictions to prevent pandemics, and strict regulations have resulted in delays in the cancer immunotherapy drug discovery market. However, this impact will be significantly reduced by adopting strategic methods taken by pharmaceutical companies and regulatory authorities.
Other drivers of the market are the rising demand for outsourcing of drug discovery, which is increasing rapidly due to low cost as compared to in-house R & D costs, and the use of a tax credit that allows several benefits, like it reduces problems that are generally encountered with taxation authorities and it allows pharmaceutical and biotechnology companies to plan effectively their global projects with CRO.
Also, government is actively participating and taking initiatives for cancer treatment. For instance, in April 2022, government launched 17 hospitals for treatment of cancer. This is a joint initiative taken by Tata trust and government, to create affordable cancer care network.
Also, there is the development of various new molecules for cancer immunotherapy and new immunotherapeutic options such as checkpoint inhibitors, immunomodulators, tumor-infiltrating lymphocytes, and CAR-T cell therapy. Several others are still in the pipeline to check their efficacy against cancer.
Cancer Immunotherapy Drug Discovery Outsourcing Market Report Highlights
- The monoclonal antibodies segment dominated the market and accounted for the largest revenue share of 64.3% in 2021. This growth is due to high efficacy and rise in regulatory approvals
- The lead screening and characterization segment is expected to account for the fastest CAGR of 10.5% during the forecast period. This is due to rise in new and effective ways to decrease time for effective assays in this segment
- The lung cancer segment accounted for the largest revenue share of 24.0% in 2021. This rise is due to large number of prevalent effective immunotherapies for this cancer type
- North America dominated the market and accounted for revenue share of 36.3% in 2021. This is due to a rise in demand for new technologies and an increasing incidence of cancer in the region
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
Chapter 4 Drug Type Business Analysis
Chapter 5 Service Business Analysis
Chapter 6 Cancer Type Business Analysis
Chapter 7 Regional Business Analysis
Chapter 8 Company Profile
Companies Mentioned
- Strategy Framework
- Explicyte Immuno-Oncology
- Aquila Biomedical
- Horizon Discovery Group plc
- Crown Bioscience Inc.
- Promega Corporation
- HD Co. Ltd.
- BPS Biosciences Inc.
- Gen script Biotech Corporation
- Celentyx Ltd.
- ImmuneXperts SA
- Personalis
- STC Biologics
- Molecular Imaging Inc. (MI Bioresearch Inc.)
- Covance, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/gysgtn
