Cancer immunotherapy market will reach $115 billion by 2023

Immunotherapy is forecast to become the oncology treatment of choice with an estimated 60 percent of previously treated cancer patients likely to adopt immunotherapy.

This is according to explains that fast growth in this market is likely to be accelerated by multiple treatment lines, combination therapy and the opportunity for repeat treatment.

Cancer immunotherapy also expands into multiple indications and the analysis indicates that key immunotherapies including anti-PD-1 drugs, dendritic cell vaccines, T-cell therapies and cancer vaccines are all driving the market, ReportsnReports said.

To that end, the company has forecast that the cancer immunotherapy market will reach $115 billion by 2023. Overall strong growth rates are expected due to a significant unmet need and increasing trends of hematological cancers.

Within the cancer therapeutics space, which today is worth over $100 billion globally, immunotherapeutic drugs have gained worldwide acceptance, the company explained. This is because they are targeted therapeutics that have high specificity for cancer cells.

Cancer immunotherapy drugs have captured nearly 50 percent of the overall oncology drugs market, the company continued, generating about $75 billion in 2019 alone and are forecast to surpass $115 billion in 2023.

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