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Atezolizumab is a monoclonal antibody used for the treatment of various types of cancers including non-small cell lung cancer, bladder cancer, and breast cancer. It works by blocking the interaction between PD-L1 and PD-1 receptors, thereby enhancing the anti-tumor immune response. Some key features of atezolizumab include high selectivity, minimal toxicity and durable response. It is administered through intravenous injection and has shown promising results in various clinical trials.
The global 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:
The Atezolizumab Market is expected to be flourished by increasing adoption of targeted therapies for cancer treatment. Atezolizumab offers significant advantages over chemotherapy by selectively targeting tumor cells while sparing healthy cells. It achieves long lasting response with durable clinical benefits for patients. With growing awareness and acceptance of immunotherapy, the demand for drugs like atezolizumab is increasing globally. Another driver is its strong pipeline and continuous research for expanding applications to new cancer indications. Ongoing clinical trials are evaluating atezolizumab in combination with other therapies for harder-to-treat cancers which upon positive results will further boost the market growth over the forecast period.
Segment Analysis
The global Atezolizumab market is dominated by the cancer segment, which accounts for over 80% of the market share. Atezolizumab drug Tecentriq has been approved for the treatment of various cancer types such as lung cancer, bladder cancer and breast cancer. Within the cancer segment, lung cancer dominates with a share of around 50% as Atezolizumab is one of the preferred treatment options for non-small cell lung cancer. The drug has shown high efficacy rates and better safety profile compared to other cancer drugs, resulting in its widespread adoption among lung cancer patients.
PEST Analysis
Political: Governments across major markets are providing financial and policy support for development and adoption of novel cancer drugs. They are striving to enhance access to premium cancer therapies to improve treatment outcomes.
Economic: Rising healthcare expenditures on cancer globally is driving demand for cost-effective yet highly effective drug options like Atezolizumab. Growing middle class populations in emerging nations present huge market potential.
Social: Increasing public awareness about cancer treatment advances and patients preference for targeted therapies with comparatively lesser side effects is favoring the uptake of immunotherapies.
Technological: Continuous R&D efforts are expanding the approval of Atezolizumab to new cancer indications. Companies are investigating combination therapies to enhance efficacy rates.
Key Takeaways
The global Atezolizumab market is expected to witness high growth over the forecast period supported by approval in new cancer indications, usage in combination therapies and availability of biosimilars ensuring affordability and access.
Regional Analysis: North America dominates currently attributed to established healthcare system, presence of knowledgeable patient population and favorable reimbursement policies for premium therapies. However, Asia Pacific is emerging as the fastest growing regional market on back of growing cancer burden, increasing healthcare investments and expanding medical tourism.
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. Pfizer holds the leading share with Tecentriq being the major revenue generator.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
