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
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Cancer
Immunotherapy Drug Discovery Outsourcing Market Report Highlights
- 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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Cancer
Immunotherapy Drug Discovery Outsourcing Market Segmentation
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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