Global Checkpoint Inhibitors for Treating Cancer Market Overview:
The immune system of the human body depends on several control points or immunological ruptures, which prevent excessive activation of healthy cells or the immune system. Tumor or cancer cells often take advantage of these checkpoints to avoid detection and fight the immune system. To combat these cancer cells, scientists and drug developers are gradually focusing on immunotherapies, which use the body’s immune system or its components to fight cancer. The developers have achieved good results with targeted therapies, which include monoclonal antibodies and conjugates, and other classes of immunotherapeutic treatments like immune checkpoint inhibitors, cell therapies and therapeutic vaccines against cancer.
Global Checkpoint Inhibitors for Treating Cancer Market Drivers and Restraints:
The increasing prevalence of cancer worldwide is the main factor that will stimulate the market growth during the forecast period. According to the World Health Organization (WHO), cancer was the leading cause of morbidity and mortality in 2012. There were about 14 million new cases and 8.2 million deaths from cancer worldwide in 2012. It was also reported that the number of new cases would increase by approximately 70% in the next two decades. The increasing prevalence of cancer and the associated high mortality rate require new and effective treatment methods, which will stimulate the demand for inhibitors of the immunological checkpoint in the future.
In addition, increasing government support and funding for the development of new cancer drugs is also encouraging researchers to develop new drugs. For example, the National Cancer Institute, and the US Department of Health and Human Services has funded approximately USD 5.1 Billion for drug development and research on cancer treatment. Government funds stimulate new and effective drug research and development activities, boosting market growth. However, the high cost associated with research activities and the unrecoverable costs associated with R & D activities restrict the market for cancer treatment checkpoint inhibitors.
Asia Pacific region is expected to be leading the market with 22.1% CAGR by the year 2025. The region offers lucrative opportunities for the main players in the market due to the availability of large population, greater knowledge of advanced immunotherapy, high incidence of cancer and improvement of health infrastructures. China, Japan and India have a high prevalence of cancer, which should boost the demand for checkpoint inhibitors in the near future. However, health insurance providers do not cover the total cost of cancer treatment. It is believed that this factor is hampering the growth of the market in the Asia-Pacific region.
Key Players In Global Checkpoint Inhibitors for Treating Cancer Market
Bristol-Myers Squibb Company, AstraZeneca PLC., Fortress Biotech, Inc. (Checkpoint Therapeutics, Inc.), Eli Lilly and Company (ARMO Biosciences.), Immutep Limited, F. Hoffmann-La Roche Ltd. (Genentech, Inc.), Merck KGaA (EMD Serono, Inc.), Merck & Co., Inc., Pfizer Inc., and Novartis AG. are the major players of the world market.
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