The size of the cancer immunotherapy market in North America is estimated to be USD 28.30 Billion in 2023 and USD 50.32 Billion by the end of 2028, growing at a CAGR of 12.2% from 2023 to 2028.
Cancer has been the primary concern for North America over the years; therefore, the increasing prevalence of cancer is majorly driving the market growth in North America. Also, the growing patient population suffering from various diseases such as lung cancer, breast cancer, ovarian cancer, and other cancers are driving the global cancer immunotherapy market.
The other factors such as advancing healthcare infrastructure, increasing healthcare spending, and access to medical insurance in the developed countries such as U.S. and Canada are further influencing the market growth. In addition, the adoption of advanced technology in cancer treatment in hospitals is more likely to increase the market growth during the forecast period. Over the years, in the developed countries such as the United States, the demand for cancer immunotherapy has increased significantly owing to its beneficial factors such as minor side effects, long-term cancer protection; moreover, it treats a wide range of cancer populations.
On the other hand, growing awareness among people about cancer prevalence and the availability of cancer treatments is likely to uplift the market growth. Furthermore, in North America, cancer immunotherapy has emerged as a new source of income for pharmaceutical firms. As a result, various companies and pharmaceutical firms conduct research and development activities that are expected to provide lucrative growth opportunities to the market.
Moreover, increasing investment and funding by the government and private organizations for creating awareness programs among the people in the region about cancer treatment and availability of advanced treatment is expected to propel the market growth. Furthermore, New immunotherapy drugs are being approved for various diseases, including lung cancer, prostate cancer, blood cancer, colorectal cancer, melanoma, breast cancer, and others, which is driving the industry forward.
However, the high cost of cancer therapies, limited information on cancer immunotherapy, and stringent government policies on immunotherapy in some countries hinder the market growth.
This research report on the North American Cancer Immunotherapy market has been segmented & sub-segmented into the following categories:
By Type of Therapies:
By Area of Therapy:
Geographically, the North American market held the largest share in the global cancer immunotherapy market in 2022, attributed to the major contribution from the United States. The increasing number of cancer patients, sophisticated medical infrastructure, continuous research and development activities, and the availability of product manufacturers are the main aspects supporting the United States cancer immunotherapy market, which further boosts the North American market growth.
On the other side, the Canadian cancer immunotherapy market is forecasted to register a healthy growth rate from 2023 to 2028.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the North America cancer immunotherapy Market profiled in this report 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 and Immunomedics.
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