Report: Cancer immunotherapies market projected to grow fourfold to reach $75.8bn by 2022

15th December 2016 (Last Updated December 15th, 2016 18:30)

The cancer immunotherapies market is projected to witness rapid growth at a compound annual growth rate (CAGR) of 23.9%, according to a report by GBI Research.

The cancer immunotherapies market is projected to witness rapid growth at a compound annual growth rate (CAGR) of 23.9%, according to a report by GBI Research.

Titled ‘Global Cancer Immunotherapies Market to 2022’, the report forecasts the cancer immunotherapies market to increase from $16.9bn in 2015 to $75.8bn by 2022.

"A number of late-stage products and already marketed drugs are expected to achieve blockbuster status during the forecast period."

There are currently 2,037 products in development, with the majority being early stage products indicating the hurdles associated with progressing development, from pre-clinical to clinical stage.

The imbalance between early stage and late-stage products reflects the difficulties in developing cancer immunotherapies, notes Yasser Mushtaq, Senior Analyst for GBI Research. Despite the hurdles, there is a strong interest towards investment in the therapy class, which may help in moving products from early stage to late-stage development.

A number of late-stage products and already marketed drugs are expected to achieve blockbuster status during the forecast period. AstraZeneca’s durvalumab and tremelimumab, Novartis’ CTL-019 and Kite Pharma’s KTE-C19 CAR are some of the notable products anticipated to achieve blockbuster status.

A number of existing blockbuster therapies such as Revlimid, Opdivo, Keytruda and Gazyva are also expected to achieve strong revenue growth. Revenues of Keytruda and Opdivo are projected to rise by $7bn and $9bn respectively, while Revlimid is also projected to achieve similar levels of growth, adds Mushtaq.