Pune, India -- (SBWIRE) -- 03/12/2018 -- The market for cancer immunotherapy across the globe is expected growth at a very high rate in the coming future. The growth is attributed to an increase number of patients suffering from different types of cancer. Globally nearly 100 types of different types of cancer have been registered. However, in terms of treatment, limited number of treatments are available in the market.

The Global Cancer Immunotherapy Market was USD 36.8 billion in 2016 which is expected to grow at a healthy CAGR of 14.8% and reach till USD 101.6 billion by 2023.

Cancer immunotherapy is expected to make a huge development in coming future due to its various advantages. Immunotherapy is found to be more effective than other available therapies and have lesser side effects. Increasing population diagnosed with cancer across the globe is a direct consequence of the lowering health standards i.e. increasing smoking and alcohol intake in millennial population has led to an increase in the number of lung and liver cancers, thereby fuelling the growth of the market. Various factors affecting the market growth are long time for approval, high cost of treatment and many adverse effects may hinder the market growth.

Key Players:

Hoffmann-La Roche AG, Merck & Co., Inc., Novartis AG, GlaxoSmithKline Plc., Amgen Inc., Bristol-Myers Squibb, Eli Lilly and Company, Celgene Corporation, Seattle Genetics, Inc., Spectrum Pharmaceuticals, Inc. are some of the leading players at the cutting edge of the competition in the market of cancer immunotherapy across the globe.

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Key Developments:

Key players in the market are engaged in the development of new products to capture the market globally. Therefore, key market players are investing more in research and development activity, in order to lead the global market. In this regards, market players undertake various strategic approaches.

Pfizer Inc.

Pfizer Inc. is a major research based bio pharmaceutical organization. The company manufactures medicines and vaccines that help individuals in their disease condition and keep them from becoming sick in any case.

In August, 2016, the company announced the approval of FDA approval TROXYCA ER extended-release capsules CII for pain management. The drug is used for abuse-deterrent properties for the management of pain and will help Pfizer to improve their goodwill and sales with this new product

In July 2016, Bind Therapeutics entered in an asset purchase agreement with Pfizer Inc. Bind Therapeutics Inc. entered into an asset purchase agreement with Pfizer, Inc. On July 26, 2016, company amended the stalking horse agreement. The acquisition is expected to close on or about August 1, 2016.

In July 2016, Pfizer and Western Oncolytics announce immuno-oncology research collaboration. This collaboration has the aim to investigate novel oncolytic virus technology. Both, Pfizer and Western Oncolytics are expected to collaborate on preclinical, clinical development of WO-12 through Phase I trials. Financial terms of agreement are not disclosed

June 2016: Pfizer announced the completion of acquisition of Anacor Pharmaceuticals. This acquisition will help the company to accelerate their shared commitment to help patients with inflammatory disease, an area of high unmet medical need

Segmentations:

The global cancer immunotherapy market is segmented on the basis of therapy types, by application, by end user.

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On the basis of type, it is segmented into monoclonal antibodies, adoptive cell transfer, cytokines, treatment vaccines, bacillus calmette-guérin, and others. Monoclonal antibodies segment is further segmented into naked monoclonal antibodies, conjugated monoclonal antibodies, and bispecific monoclonal antibodies. Cytokines are further segmented into Interferon, Interleukins

On the basis of application, it is segmented into liver cancer, childhood cancer, colorectal cancer, stomach cancer, lung cancer and others.

On the basis of end user, it is segmented into hospitals, clinics, and others.

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