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Market Overview:
Atezolizumab is a monoclonal antibody used for treatment of various types of cancers including lung cancer, kidney cancer, bladder cancer, head and neck cancer, liver cancer, etc. It works by targeting programmed cell death ligand-1 (PD-L1) which helps cancer cells evade detection by the immune system. By blocking the interaction between PD-L1 and its receptor PD-1, Atezolizumab helps activate the immune system to fight against cancer cells. It can be used as a monotherapy or in combination with chemotherapy for improved treatment outcomes.
The Atezolizumab Market is estimated to be valued at US$ 308 Million in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising prevalence of cancer globally is a major driver contributing to the growth of Atezolizumab market. According to WHO, cancer burden rose to 19.3 million new cases and 10 million cancer deaths in 2020. Increasing focus on immunotherapy due to its advantages over chemotherapy and radiotherapy is also boosting the demand for monoclonal antibodies like Atezolizumab. Additionally, several clinical trials are evaluating the efficacy of Atezolizumab in combination with other drugs for range of cancers. Positive outcomes of such combination therapies will broaden the application scope and drive the market growth over the forecast period.
Segment Analysis
The global Atezolizumab market is segmented into lung cancer, breast cancer, head and neck squamous cell carcinoma, urothelial carcinoma and other cancer types. Lung cancer dominates the market, with atezolizumab being approved to treat non-small cell lung cancer (NSCLC). It is used as monotherapy and also in combination with other therapeutics like bevacizumab for the treatment of metastatic non-squamous NSCLC.
PEST Analysis
Political: Government initiatives to spread awareness about cancer and increase accessibility to cancer treatments like immunotherapies favor market growth.
Economic: Rising healthcare expenditure worldwide owing to increasing cancer burden fuels market revenues.
Social: Growing support from cancer organizations and advocacy groups for cancer research and development enhances demand.
Technological: Advancements in cancer immunotherapy and targeted treatment approaches led by R&D activities propel market expansion.
Key Takeaways
The global Atezolizumab market is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period 2023 to 2030, due to increasing cancer prevalence globally. The market size for 2023 is US$ 308 Million.
North America dominates the market currently due to established healthcare infrastructure, high awareness, and affordability of immunotherapies. Asia Pacific is expected to emerge as the fastest growing regional market attributed to rising healthcare spending, increased cancer screening, and growing adoption of innovative therapies.
Key players operating in the Atezolizumab market are Mycovia Pharmaceuticals, Inc., Scynexis, Inc., Basilea Pharmaceutica Ltd., Astellas Pharma Inc., Grupo Ferrer Internacional, S.A., Pacgen Life Science Corporation, NovaDigm Therapeutics, Inc., Cidara Therapeutics, Inc., Amplyx Pharmaceuticals Inc., and Pfizer, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
