A recently published study by FMI expects the global Intratumoral Cancer Therapies market to garner a market value of US$ 212.96 Billion in 2023 and is expected to accumulate a market value of US$ 552.36 Billion by registering a CAGR of 10% in the forecast period 2023-2033.
Growth of the Intratumoral Cancer Therapies market can be attributed to favorable regulatory frameworks for cancer treatments. The market for Intratumoral Cancer Therapies registered a CAGR of 7% in the historical period 2017-2022.
The growth is attributed to the increasing prevalence of cancer cases, pushing the regulatory bodies to work on research and development. For instance, in September 2022, the Hadassah Cancer Research Institute (HCRI), Jerusalem declared that it will lead the CancerRNA, a global forum working towards development and application of RNA-based immunotherapy to effectively utilize anti-cancer immune responses.
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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 Market Study
- From 2017-2022, the Intratumoral Cancer Therapies market grew at 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.
- Checkpoint inhibitors segment is poised to register the highest growth rate through 2033.
- North America is expected to possess 40% market share for 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.
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“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 in order to reduce the incidence level.” says an FMI analyst
Market Competition
Key players in the Intratumoral Cancer Therapies market are Amgen Inc, AstraZeneca, Bayer AG, Bristol-Myers Squibb Company, Pfizer Inc, Novarts 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 for Intravenous is used to treat cancers such as myeloma and mantle cell lymphoma.
Key Segments Profiled in the 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
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