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.
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.