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The atezolizumab market involves the use of monoclonal antibodies to inhibit the interaction between PD-L1 and PD-1 receptors and activate T cells to induce an anti-tumor immune response. Atezolizumab is used for the treatment of bladder cancer, lung cancer and other solid tumors. It helps improve progression-free and overall survival in patients suffering from various cancers by enhancing the ability of the immune system to recognize and destroy cancer cells. The drug offers several advantages like fewer side effects than chemotherapy and targeted mechanism of action. The rising burden of cancer and increasing number of clinical trials evaluating the efficacy of atezolizumab in other cancer types is driving its demand.
The Global Atezolizumab Market is estimated to be valued at US$ 308 Million in 2024 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030.
Key Takeaways
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.
The market offers significant opportunities for players engaged in developing combination therapies involving atezolizumab and exploring its potential against various solid tumor types. Many clinical trials are underway to evaluate the safety and efficacy of atezolizumab with other anti-cancer drugs.
The increasing adoption of immunotherapy, growing cancer burden globally and approval of atezolizumab for additional cancer indications are motivating market players to expand their presence geographically to cater to the rising demand. Several strategic alliances and collaborations are also being formed for the development of atezolizumab.
Market drivers
The key driver for the atezolizumab market is the growing prevalence of cancer worldwide. According to the World Health Organization, cancer burden is expected to reach 27.5 million new cases and 16.3 million cancer deaths by 2040. This rising incidence of cancer diagnoses is slated to drive the demand for effective treatment options like atezolizumab. Furthermore, the approval of atezolizumab for additional cancer indications and its ability to improve survival benefits when used as a combination therapy with other therapeutic regimens is also propelling the market growth.
PEST Analysis
Political: Government policies on healthcare expenditure and drug price regulations directly impact the sales of atezolizumab. Strict pricing controls imposed by regulatory authorities may negatively affect its market growth.
Economic: Rising healthcare budgets and higher spends on cancer treatments are fueling the demand for monoclonal antibody drugs like atezolizumab. However, fluctuations in currency exchange rates and economic uncertainties post COVID-19 may impede market expansion.
Social: Increasing public awareness about immune-oncology therapies and their effectiveness in curing advanced cancers is a major factor driving the acceptance and uptake of atezolizumab globally. Support groups advocating cancer care further boost its social acceptability.
Technological: Advancements in biologics manufacturing technologies enable more efficient production of monoclonal antibodies at lower costs. Continuous R&D efforts to expand the drug’s indications will help address unmet needs in cancer therapeutics better.
The atezolizumab market in terms of value is concentrated majorly in North America and Europe. Well-established healthcare infrastructure, large cancer patient pool, and higher affordability for expensive targeted therapies drive its sales in these regions. The US accounts for over 40% of the global market share currently owing to the presence of key market players as well as favorable reimbursement policies for cancer medications.
Asia Pacific is considered the fastest growing regional market for atezolizumab. Rapid economic development, rising healthcare expenditures, growing incidence of cancer, and improving access to modern therapies are fueling demand from countries like China and India. Additionally, increasing collaborations between regional and global drug manufacturers to launch generic versions will expand its availability and uptake substantially across low and middle-income countries in Asia over the next decade.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
