The Global Intratumoral Cancer Therapies Industry is on the cusp of a remarkable transformation, fueled by a growing focus on targeted cancer treatment. According to a recent report by Future Market Insights (FMI), a leading market research firm, the market is projected to reach a staggering US$552.36 billion by 2033. This translates to a phenomenal Compound Annual Growth Rate (CAGR) of 10% throughout the forecast period (2023-2033). This significant growth signifies a substantial leap from the market’s current valuation of US$212.96 billion in 2023.
Favorable Regulatory Landscape Paves the Way for Growth
The exceptional growth trajectory of the intratumoral cancer therapies market can be attributed primarily to a supportive regulatory environment for innovative cancer treatments. This follows a period of steady growth, with the market expanding at a CAGR of 7% from 2017 to 2022. The upcoming decade is expected to witness a significant acceleration in market growth fueled by these factors.
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In terms of market share and revenue, the North American market is predicted to be the most lucrative market during the forecast period with a revenue share of 40%. The region’s growth is driven by the presence of various biotechnology and medical device firms. For instance, in March 2020, Johnson and Johnson received the US FDA Breakthrough Therapy Designation for JNJ-61186372 (JNJ-6372) for the treatment of patients with metastatic non-small cell lung cancer (NSCLC).
Key Takeaways from the Global Intratumoral Cancer Therapies Industry Study
- From 2017-2022, the Intratumoral Cancer Therapies market grew at a CAGR of 7%.
- The global Intratumoral Cancer Therapies market is expected to grow with a 10% CAGR during 2023-2033.
- As of 2033, the Intratumoral Cancer Therapies market is expected to reach US$ 552.36 Billion.
- The checkpoint inhibitors segment is poised to register the highest growth rate through 2033.
- North America is expected to possess a 40% market share for the Intratumoral Cancer Therapies market in North America.
- The European market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
- By application, lung cancer is estimated to account for the largest share of the market.
“Cancer is among the top causes of mortality worldwide, and its incidence is increasing at an alarming rate. As a result, healthcare experts are concentrating on the development of efficient treatment and diagnosis solutions to reduce the incidence level.” says an FMI analyst
Global Intratumoral Cancer Therapies Industry Competition
Key players in the Intratumoral Cancer Therapies market are Amgen Inc., AstraZeneca, Bayer AG, Bristol-Myers Squibb Company, Pfizer Inc, Novartis AG, Johnson & Johnson, and Eli Lily Company, F.
- Gland Pharma has launched the cancer treatment medicine Bortezomib for Injection in the United States in 2022. The drug business stated in a statement that it has released the medicine in the US market through a partner who has acquired permission from the US Food and Drug Administration (USFDA). The business claims that its medicine is medically similar to Velcade for Injection from Takeda Pharmaceuticals. Bortezomib Intravenous is used to treat cancers such as myeloma and mantle cell lymphoma.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global Intratumoral Cancer Therapies market, presenting a historical analysis from 2017 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights based on technology (Monoclonal Antibodies, Vaccines, Checkpoint Inhibitors, Cell Therapies, Immune System Modulators, Adoptive Cell Transfer, Cytokines), application (Lung Cancer, Breast Cancer, Melanoma, Prostate Cancer, Head & Neck Cancer, Others), end-users (Hospitals, Cancer Research Centres, Clinics) & region.
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Key Segments Profiled in the Global Intratumoral Cancer Therapies Industry Survey
Technology:
- Monoclonal Antibodies
- Vaccines
- Checkpoint Inhibitors
- Cell Therapies
- Immune System Modulators
- Adoptive Cell Transfer
- Cytokines
Application:
- Lung Cancer
- Breast Cancer
- Melanoma
- Prostate Cancer
- Head & Neck Cancer
- Others
End-users:
- Hospitals
- Cancer Research Centres
- Clinics
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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