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Market Overview:
Atezolizumab is a programmed death-ligand 1 (PD-L1) blocking antibody used for cancer treatment. It is a type of immunotherapy that helps the body’s immune system attack cancer cells. Atezolizumab works by blocking PD-L1 from attaching to its receptor PD-1 on T cells. This allows the T cells to recognize and destroy cancer cells. Atezolizumab is approved for treating several types of cancers including lung cancer, bladder cancer, and kidney cancer. It provides effective treatment options with fewer side effects compared to conventional chemotherapy. Rising prevalence of cancer worldwide is driving the demand for advanced treatment options like immunotherapy using Atezolizumab.
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 key trends:
One of the key trends in the Atezolizumab market is its increasing usage in combination therapies. Clinical trials show that combining Atezolizumab with chemotherapy improves treatment outcomes in several cancers. For example, combining it with bevacizumab in lung cancer and carboplatin/paclitaxel in triple negative breast cancer enhances efficacy. Many pharmaceutical companies are conducting combination therapy clinical trials to expand the approval of Atezolizumab for additional cancer types. This will help sustain the growth momentum of the market over the forecast period.
Porter’s Analysis
Threat of new entrants: The biopharmaceutical industry requires huge capital investments and deals with stringent regulations, making entry difficult for new players.
Bargaining power of buyers: The presence of alternative treatment options provides buyers with bargaining power. However, the growing demand for monoclonal antibody drugs reduces this power.
Bargaining power of suppliers: Major companies engaged in R&D and manufacturing of monoclonal antibodies possess high bargaining power due to their specialized expertise and resources.
Threat of new substitutes: The development of new molecular entities and alternate mechanisms of action by competitors pose a threat of substitution.
Competitive rivalry: The competition is high among the major companies in the atezolizumab market given their large product portfolios and capabilities for investment in R&D.
Key Takeaways
The global atezolizumab market is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period, due to increasing prevalence of cancer and growing adoption of monoclonal antibody therapies.
The US holds the major share in the atezolizumab market owing to high healthcare spending and availability of advanced treatment options. However, China is anticipated to grow at a high CAGR during the forecast period supported by rising healthcare investments, large cancer patient pool and development of healthcare infrastructure in the region.
Key players operating in the atezolizumab market include 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. These players are focused on product development through partnerships and acquisitions to strengthen their presence in the atezolizumab market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
