The cancer immunotherapy market in Europe is predicted to be growing at a CAGR of 12.45% from 2023 to 2028. The market size is expected to be worth USD 42.30 billion by 2028 from USD 23.52 billion in 2023.
Y-O-Y growth in the prevalence of cancer among EU countries, changing lifestyles, excess intake of alcohol and smoking, high efficiency of immunotherapy when compared to other treatments, few side effects associated with cancer immunotherapy that reduce the chance of recurrence of cancer are the factors that drive the Europe cancer immunotherapy market.
A mounting number of cancer patients and a rising old people population also drive market growth. Furthermore, the rising commonness of cancer is even driving the European Cancer Immunotherapy Market growth. Numerous healthcare facilities and various national government fund schemes are expected to drive the cancer immunotherapy market in Europe.
Increasing opportunities in the existing markets and immunotherapy as an alternative to chemotherapy for the first-line treatment will be market drivers in the future. Treatment-Free Survival (TFS) provides an essential opportunity for patients and their families to resume their activities, travel, and generally approach their daily lives free from ongoing cancer treatment. Another opportunity is that patients in their last stage face the possibility of dying from cancer often value receiving a novel therapy that offers long-term disease control in a small percentage of patients.
Factors like the high cost of immunotherapy treatment and the high reducing rate of the product development cycle hamper the market growth. Time is also one of the factors that are hampering the regional market boom. In addition, the cost of cancer therapy treatment and the availability of very little information are the factors challenging the European market. Another problem is disturbing the immune balance intending to restore the potent anti-tumor response that might induce resistance. Still, many challenges exist and have to be overcome to make them available to cancer patients who need immune intervention.
This research report on the European Cancer Immunotherapy has been segmented & sub-segmented into the following categories:
By Type of Therapies:
By Area of Therapy:
Geographically, the European market had accounted for the second-largest market share in the global immunotherapy market in 2022 and holds positive growth along the foreseen period, and is supposed to reach a 12.45% growth rate by the end of 2028. Therefore, this region is presumed to witness a noticeable increase in the upcoming years. In Europe, Germany is the most prominent market driving the area and is assumed to experience a growth rate of about 9% in 2028. The European market is becoming apparent rapidly due to the increasing number of cancer patients in this region. In addition, the rapid increase of advanced treatment facilities paired up with the availability of skilled professionals and support from the government for R&D further boosts the regional business.
KEY MARKET PARTICIPANTS:
A few notable companies operating in the European 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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