According to the research report titled ‘Global Cancer Immunotherapy Market Size study, By Type (Monoclonal Antibodies, Cancer Vaccines, Checkpoint Inhibitors, Immunomodulators), By Application (Lung Cancer, Breast Cancer, Head and Neck Cancer, Prostate Cancer, Colorectal Cancer, Melanoma, Others), By End User (Hospitals, Clinics & Others), and Regional Forecasts 2022-2028’, available with MarketStudyReport, global cancer immunotherapy market was valued at USD 119.31 billion in 2021 and is expected to reach USD 298.55 billion by 2028, registering a CAGR of 14% during the study period.

The growing prevalence of cancer, increasing development of bioinformatics tools to speed up the drug development process, and the rising demand for immunotherapy are some of the primary factors that are driving the expansion of global cancer immunotherapy market growth.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/5065442/

For the uninitiated, cancer immunotherapy stimulates the immune system to cure cancer and boost the body's defense mechanism against the disease. The therapy is gaining huge popularity among the population as it offers long-term cancer protection, has fewer side effects, and cures various types of cancer.

Aside from this, increasing cancer treatment clinical trials and high growth prospects in emerging nations are likely to act as a catalyzing factor for the overall market expansion. However, the availability of limited funds and the high cost of treatment will restrict the market growth over the forecast period.

As per type, the market is categorized into immunomodulators, cancer vaccines, monoclonal antibodies, and checkpoint inhibitors segments. Based on the application spectrum, worldwide cancer immunotherapy industry is segmented into melanoma, head and neck cancer, colorectal cancer, breast cancer, lung cancer, prostate cancer, and others.

Moving on to the end-user spectrum, the market is split into clinics, hospitals, and others.

Regionally, North America is projected to account for the largest market share by 2028, primarily ascribed to the rising popularity of immunotherapy, and increasing investment in the drug development process.

Whereas Asia-Pacific cancer immunotherapy market is projected to witness a healthy CAGR over the forecast time spell, owing to the rising target population and the presence of emerging economies such as China and India.

The Merck Group, Bristol-Myers Squibb Company, Janssen Global Services LLC, Pfizer Inc., Bayer AG, Novartis AG, Eli Lily And Company Genentech Inc., AstraZeneca plc, and Amgen Inc. are the major contenders operating in global cancer immunotherapy market.