The size of the Cancer Immunotherapy Market in the Asia Pacific is predicted to be growing at a CAGR of 13.20% from 2023 to 2028. The market size is estimated to be USD 32.74 billion by 2028 and USD 17.61 billion in 2023.
The factors driving the growth of the cancer immunotherapy market are the increasing incidence of cancer, technological advances in therapies, increasing research and development used in cancer treatment, and a wide range of treatments. India and China are significant contributors to APAC, launching new and advanced drugs. In 2012, 6.7 million cancer cases were registered in the APAC region, which is increasing continuously. The specificity and effectiveness of cancer immunotherapy used in breast, skin, and other cancers. During the analysis period, healthcare spending growth and medical insurance are expected to drive APAC Cancer Immunotherapy Market growth.
The lack of experienced medical professionals has limited the growth of the APAC Cancer Immunotherapy Market. Also, the significant loss of new product development is another factor restraining market growth.
The APAC Cancer Immunotherapy Market is expected to face several challenges throughout the forecast period. The emergence of the latest technologies in the medical sector is likely to bolster the market demand. Increasing disposable income in urban areas is also a factor leveraging the growth of the market.
The lack of knowledge and awareness are the challenges in the APAC Cancer Immunotherapy Market.
This research report on the APAC Cancer Immunotherapy Market has been segmented & sub-segmented into the following categories:
By Type of Therapies:
By Area of Therapy:
Regionally, The Asia Pacific region will experience the fastest growth during the forecast period. New advanced immunotherapy drugs are being launched in China and Japan. Numerous clinical trials are underway in these countries/regions. New drug molecules and combination therapies approved by the FDA have been obtained. The approval of new treatments by China and Japan drives immunotherapy in the treatment of cancer. Some market participants such as AstraZeneca, Merck, and Pfizer are investing heavily, expanding the Asia Pacific market.
The Chinese Cancer Immunotherapy Market is projected to be the second-largest country for cancer immunotherapy drugs due to increasing government assistance, growing economy, and the increasing amount spent on healthcare surge the growth of this region. In 2015, in China, around 4.2 new cases of cancer were recorded. In addition, the adoption of sedentary lifestyles and changes in food habits are mainly enhancing the demand of this market to the extent.
The Indian Cancer Immunotherapy Market is expected to have a considerable growth rate in the cancer immunotherapy drugs market. Advanced technologies in manufacturing drugs, a growing patient population, increasing older people, and rising investments from government and other private organizations in the medical field fuel the market's demand.
KEY MARKET PARTICIPANTS:
Companies playing a leading role in the APAC cancer immunotherapy Market are F. Hoffmann-La Roche Ltd, Amgen, Viralytics, Novartis Pharmaceuticals Corporation, Pfizer, GlaxoSmithKline Pharmaceuticals Limited, AstraZeneca plc, Medivation, Advaxis, Bristol-Myers Squibb, Merck & Co. and Celgene Corp, Immunomedics.
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