Description
The global Cancer Immunotherapy Drug Discovery Outsourcing market size accrued earnings worth approximately USD 1,321.01 Million in 2023 and is predicted to gain revenue of about USD 2,779 Million by 2032, is set to record a CAGR of nearly 8.50% over the period from 2024 to 2032
Cancer Immunotherapy Drug Discovery Outsourcing Market: Overview
Cancer immunotherapy drug discovery outsourcing refers to the outsourcing of research activities that assist in optimizing the time and funds involved in the process of drug discovery. It is done for various types of cancer like breast cancer, lung cancer, melanoma, colorectal cancer, prostate cancer, ovarian & pancreatic cancer, and head & neck cancer.
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Global Cancer Immunotherapy Drug Discovery Outsourcing Market: Growth Factors
One of the major factors driving the global cancer immunotherapy drug discovery outsourcing market is the growing awareness regarding the advancements in cancer treatment therapies along with the growing investments by prominent pharmaceutical companies to outsource the various activities involved in the process of drug discovery for cancer treatments. Pharmaceutical companies are shifting their focus to immunotherapies as they are vital alternatives for the treatment of cancer due to their high ability to lower the potential risk of tumor recurrence post-chemotherapy. The outsourcing process of research activities reduces the time involved in the process and does help in optimizing the funds for better outcome of investment. The growing research and development activities to innovate novel drugs for the effective treatments of cancer are further fuelling the growth of the global cancer immunotherapy drug discovery outsourcing market.
Moreover, the introduction of advanced therapeutic options like HDAC inhibitors, oncolytic viral therapies, cancer vaccines, and monoclonal antibodies is likely to positively shape the trajectory of the global cancer immunotherapy drug discovery outsourcing market.
Cancer Immunotherapy Drug Discovery Outsourcing Market: Segments Analysis
The global cancer immunotherapy drug discovery outsourcing market can be segmented into cancer type, service, drug, and region.
By cancer type, the market can be segmented into pancreatic, ovarian, head & neck, prostate, melanoma, colorectal, breast, and lung. Lung cancer accounts for the largest share in the global market. The delayed diagnosis of lung cancer makes chemotherapy inefficient and this underlying drawback can be overcome with the help of immunotherapy. Immunotherapy is proven to be very effective in the treatment of non-small cell lung cancer. Moreover, the wide availability of immunotherapy is further propelling the growth of the segment. The ovarian segment is anticipated to grow vigorously during the forecast period due to the increasing research and development activities along with the rising prevalence of ovarian cancer all across the globe.
By service, the market can be segmented into cell-based assays, lead screening & characterization, and target identification & validation. The target identification & validation segment holds the largest share in the global cancer immunotherapy drug discovery outsourcing market. The growth can be attributed to the launch of novel drugs constantly in the market for the treatment of cancer patients.
By drug, the market can be segmented into oncolytic viral therapies and cancer vaccines immunomodulators, monoclonal antibodies, and others. The monoclonal antibodies segment holds hegemony over others in the global market.
Global Cancer Immunotherapy Drug Discovery Outsourcing Market: Regional analysis
North America accounts for the largest share in the global cancer immunotherapy drug discovery outsourcing market due to the presence of prominent market players, biotech, and big pharmaceutical companies in the region. Moreover, the growing demand for novel drugs to treat cancer therapy cancer patients along with the growing outsourcing trend in the region will also boost market growth.
Asia Pacific accounts for the second-largest share in the global market due to the introduction of advanced immunotherapy drugs in growing economies like Japan and China to treat cancer patients.
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Global Cancer Immunotherapy Drug Discovery Outsourcing Market: Competitive Players
Some of the significant players in the global cancer immunotherapy drug discovery outsourcing market are
- Molecular Imaging Inc.
- STC Biologics
- Personalis Inc.
- ImmunXperts SA
- Celentyx Ltd.
- DiscoverX Corporation
- Genscript Biotech Corporation
- BPS Bioscience Inc
- Biosciences Co. Ltd.
- DiscoverX Corporation
- Genscript Biotech Corporation
- BPS Bioscience Inc.
- HD Biosciences Co. Ltd.
- Promega Corporation
- Crown Bioscience Inc.
- Horizon Discovery Group PLC
- Aquila BioMedical
- Explicyte
- and Covance Inc.
Global Cancer Immunotherapy Drug Discovery Outsourcing Market: Segment Analysis
By Drug Type
- Monoclonal Antibodies
- Immunomodulators
- Oncolytic Viral Therapies and Cancer Vaccines
- Others
By Service Type
- Target Identification and Validation
- Lead Screening and Characterization
- Cell-based Assays
By Cancer Type
- Lung
- Breast
- Colorectal
- Melanoma
- Prostate
- Head and Neck
- Ovarian
- Pancreatic
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
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