According to the latest research report titled ‘Cancer Immunotherapy Market Share, Size, Trends, Industry Analysis Report By Type; By Application; By End-user ; By Regions, Segments & Forecast, 2020 - 2026’, available with Market Study Report, global cancer immunotherapy market size is expected to hit USD 117.82 billion by the end of the forecast period 2020-2026.
 

Burgeoning patient pool and increasing death doll through cancer is primarily driving global cancer immunotherapy market growth. In fact, WHO claims that approx. 18.1 million cancer cases were recorded in 2018 and about 9.6 million mortalities. Moreover, cancer was the leading cause of mortalities in 2019, indicating a higher demand for treatment services in the coming years as the cases continue to surge.
 

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Further, growing number of drug approvals, along with increased risk of acquiring cancer due to behavioral and dietary factors, including low vegetable and fruit intake, lack of physical activity, alcohol consumption, tobacco, and high body mass index, are expanding global cancer immunotherapy market size. Besides, continued research in cancer research has positively impacted the industry outlook.  
 

Elaborating on the application spectrum, global cancer immunotherapy market share from pulmonary cancer segment is significantly increasing. This can be ascribed to growing smoking population and alarming rise in urban air pollution.
 

Considering the geographical landscape, North America (US, Canada), Europe (UK, Germany, Italy, France, Spain), Asia Pacific (China, Japan, India, South Korea), Latin America (Mexico, Brazil, Colombia), and Middle East & Africa (UAE, Saudi Arabia, South Africa, Israel) are the major avenues for global cancer immunotherapy market expansion.
 

Industry experts cite that Asia Pacific market is expected to grow substantially during the forecast period. It is estimated that over 4 million new cancer cases are diagnosed in China each year. Whereas, South Korea sits at 200,000 new cases annually. Japan accounted for 1,49,000 cases in 2017, and India had 1,85,000 cases of colorectal cancer incidences in the same year. Thus, the high prevalence of cancer and its continual rise is augmenting the growth prospects of regional industry. Additionally, increasing healthcare expenditure by governments in Asian countries, about 6% higher than developed nations, will continue to complement the industry growth in APAC in the upcoming years.
 

Speaking of the competitive arena, top contenders in worldwide cancer immunotherapy industry sphere are OSE Immunotherapeutics SA, Merck & Co., Inc., Novartis AG, F. Hoffmann-La Roche AG, Bristol Myers Squibb, Eli Lilly and Co., Bayer AG, Astellas Pharma, Inc., AstraZeneca plc, and Amgen, Inc.