The global cancer immunotherapy drug discovery outsourcing market size is projected to reach USD 1.7Billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 13.5% during the forecast period. Increasing prevalence of cancer and rising mortality associated with cancer, along with growing development in the field of cancer immunotherapy, are anticipated to stimulate the growth of the market.
In
order to maintain pace with the increasing competition in the cancer
therapeutics industry, pharmaceutical companies spend 2.5% more than other high
tech industries in the in-house R&D. Hence, they are swiftly shifting
toward the outsourcing of drug discovery in order to achieve lower in-house
R&D costs.
Additionally,
favorable tax credit allows pharmaceutical companies to appropriately plan
their global projects with a reputed CRO and therefore, receive benefits and
reduce problems associated with taxation authorities or other bodies
administering such incentive programs.
Several
new molecules for cancer immunotherapy and new immunotherapeutic options, such
as tumor-infiltrating lymphocytes, checkpoint inhibitors immunomodulators, and
CAR-T cell therapy, have been introduced. Some are in the pipeline and are
being tested for their ability to provide better cancer treatment
Full Research Report On Cancer Immunotherapy Drug Discovery Outsourcing Market
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https://www.grandviewresearch.com/industry-analysis/cancer-immunotherapy-drug-discovery-outsourcing-market
Further Key
Findings From the Report Suggest:
- Monoclonal antibodies
emerged as the largest segment in 2017 because of increasing regulatory
approvals and higher efficacy
- Target identification and
validation accounted for the largest share in the global market owing to
higher costs incurred and increased investments in new drug development
- North America dominated the
market with the largest share in 2017. Rising incidence of cancer and
increasing demand for novel technologies are facilitating the dominance of
the region during the forecast period
- Some of the key players are
Covance, Inc.; Explicyte; Aquila BioMedical; Horizon Discovery Group PLC;
Crown Bioscience, Inc.; Promega Corporation; HD Biosciences Co., Ltd.; BPS
Bioscience, Inc.; Genscript Biotech Corporation; DiscoverX Corporation;
Celentyx Ltd.; ImmunXperts SA; Personalis, Inc.; STC Biologics; and
Molecular Imaging, Inc. dominated the cancer immunotherapy drug discovery
outsourcing market.
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https://www.grandviewresearch.com/industry-analysis/cancer-immunotherapy-drug-discovery-outsourcing-market/request/rs1
Grand View Research has segmented
the global cancer immunotherapy drug discovery outsourcing market based on drug
type, service type, cancer type, and region:
Cancer
Immunotherapy Drug Discovery Outsourcing Drug Type Outlook (Revenue, USD
Million, 2014 - 2025)
- Monoclonal Antibodies
- Immunomodulators
- Oncolytic Viral Therapies
and Cancer Vaccines
Cancer
Immunotherapy Drug Discovery Outsourcing Service Type Outlook (Revenue,
USD Million, 2014 - 2025)
- Target Identification and
Validation
- Lead Screening and
Characterization
- Cell-Based Assays
Cancer Immunotherapy
Drug Discovery Outsourcing Cancer Type Outlook (Revenue, USD Million, 2014
- 2025)
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Melanoma
- Prostate Cancer
- Head and Neck Cancer
- Ovarian Cancer
- Pancreatic Cancer
Cancer
Immunotherapy Drug Discovery Outsourcing Regional Outlook (Revenue, USD
Million, 2014 - 2025)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- Asia Pacific
- India
- China
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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