Northrook, IL, United States -- (SBWIRE) -- 10/01/2019 -- According to a new market research "Cancer Immunotherapy Market by Type (Monoclonal Antibodies, Cancer Vaccines, Check Point Inhibitors & Immunomodulators), Application (Lung, Breast, Colorectal, Melanoma, Prostate, Head & Neck), End User (Hospital and Clinics) - Global Forecast to 2021", published by MarketsandMarkets, the global Cancer Immunotherapy Market is expected to reach USD 119.39 Billion by 2021 from USD 61.9 Billion in 2016, at a CAGR of 14.0%. Factors such as increasing incidence of cancer and rising healthcare expenditure are driving the growth of this market.

The Global Cancer Immunotherapy Market has been segmented based on type, application, end-user, and region.

On the basis of type, the market has been segmented into monoclonal antibodies, cancer vaccines, checkpoint inhibitors, and immunomodulators. The monoclonal antibodies segment is expected to account for the largest share of the market in 2016, while the checkpoint inhibitors segment is projected to witness the highest CAGR from 2016 to 2021. The high growth in this segment is primarily attributed to the high success rate of these inhibitors.

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On the basis of applications, the global Cancer Immunotherapy Market is segmented into lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head & neck cancer, and others. The lung cancer segment is expected to grow at the highest CAGR during the forecast period. The high growth in this segment can be attributed to the increasing prevalence of this type of cancer and rising demand for advanced treatment options.

On the basis of end-users, the global Cancer Immunotherapy Market is segmented into hospitals and clinics & others. The hospital's segment is expected to account for the largest share of the global Cancer Immunotherapy Market in 2016. The rise in healthcare spending has resulted in the increasing use of immunotherapeutic drugs in hospitals.

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Based on regions, the global Cancer Immunotherapy Market is segmented into North America, APAC, Europe, and the Rest of the World (RoW). North America is expected to account for the largest share of the market in 2016. Growth in this regional segment is driven by factors such as an increase in patient pool and initiative taken by the government for the development of cancer immunotherapy.

Key players in the Cancer Immunotherapy Market include Amgen (U.S.), AstraZeneca (U.K.), F. Hoffmann-La Roche AG (Switzerland), Bayer AG (Germany), Bristol-Myers Squibb (U.S.), Eli Lilly and Company (U.S.), Janssen Global Services, LLC (Belgium), Merck (U.S.), Novartis (Switzerland), and Pfizer (U.S.).

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