APAC Immuno-Oncology Market

APAC Immuno-Oncology Market Size (2023 to 2028)

The market size for immune-oncology in the APAC region is forecasted to grow USD 2.41 billion by 2028 from USD 1.18 billion in 2023, growing at a CAGR of 15.25% from 2023 to 2028.

The acceptance of novel and improved immuno-oncology technologies grew with the expanding number of immuno-oncology treatments and FDA approval of immuno-oncology medications. After cardiovascular disease, cancer is regarded as the most significant cause of mortality worldwide. Cancer death rates have risen from 13% in 1990 to 15.5 percent in 2019. According to a World Health Organization estimate, cancer kills 8.35 million people each year, with 72 percent of additional cancer cases expected in 20 years. Immuno-oncology therapy has been regarded as one of the most promising discoveries in cancer treatment since it has such a high prediction for cancer incidence. Immuno-oncology has a lot of potential for the future of cancer treatment in the Asia Pacific, as evidenced by recent accomplishments in research and development, encompassing various stages of clinical trials and pharmaceutical discovery.

Because of their well-developed infrastructure and aging population, immuno-oncology medications are more extensively used in Western countries than Asian countries. The global burden of cancer has increased by 18.15 million new cases, with 9.65 million cancer deaths, according to a 2018 report from the World Health Organization. Various governments and organizations invest a lot of money in research and development to find new cancer treatments with better outcomes.

Immuno-oncology treatment is more expensive than standard chemotherapy and radiotherapy. Immuno-oncology treatment costs on average more than $100,000, making it unaffordable for some cancer patients, particularly in emerging nations. There is also a scarcity of trained specialists in such areas. These factors are projected to stifle market expansion in the Asia Pacific throughout the forecast period. In addition, immunotherapy can boost the immune system while making people feel like they have had the flu, complete with fever, chills, and weariness. Side effects include swelling, weight gain from the extra fluids, heart palpitations, a stuffy head, and diarrhea.

This research report on the APAC immune-oncology market has been segmented and sub-segmented into the following categories.

By Product & Service:

• Consumables
• Instruments
• Software

By Technology:

• PCR
• Immunoassay
• NGS
• ISH
• Flow Cytometry

By Application:

• Research Applications
• Clinical Diagnostics

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand, Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, the APAC region is expected to play a significant role in the global immune-oncology market during the forecast period. The immuno-oncology market benefits from the increased prevalence of cancer and the demand for tailored medicine. Healthcare professionals seek effective and new immuno-oncology treatments for these critically ill patients because each malignancy requires a unique treatment plan with variable problems; these factors are projected to fuel the growth of the Asia Pacific immuno-oncology market.

During the predicted period, the Asia Pacific region is expected to have the fastest growth rate across the globe. In China and Japan, breakthrough immunotherapy medications are being released. Several clinical studies are now taking place in these countries and regions. In addition, new medication compounds and combination therapy have been approved by the FDA. Immuno-Oncology in cancer treatment is driven by China and Japan's approval of new medicines. AstraZeneca, Merck, and Pfizer are among the industry participants investing extensively in the Asia Pacific market.

Due to increased government aid, a developing economy, and an increase in the amount spent on healthcare, the Chinese Immuno Oncology Market is expected to be the second-largest country for cancer immunotherapy medications. Around 4.2 new cancer cases were reported in China in 2015. Furthermore, the adoption of sedentary lifestyles and changes in eating patterns primarily increases the demand for this industry.

In the cancer immunotherapy pharmaceuticals industry, the Indian Immuno Oncology Market is predicted to develop at a significant rate. The market's demand is fuelled by advanced drug production methods, a growing patient population, an aging population, and increased investments in the medical profession from the government and other private organizations.

KEY MARKET PLAYERS:

AstraZeneca Plc, Bristol-Myers Squibb, Celgene Corporation, Eli Lilly and Company, Merck & Co., F. Hoffmann-La Roche AG, Johnson & Johnson, Novartis International AG, AbbVie Inc., Pfizer Inc., Gilead Sciences Inc., Prometheus Therapeutics & Diagnostics, Aduro BioTech, Galena Biopharma, Bavarian Nordic, Takeda, Spectrum Pharmaceuticals and GlaxoSmithKline are some of the companies dominating the APAC immune-oncology market profiled in this report.