Market Overview:
Atezolizumab is a monoclonal antibody immunotherapeutic drug used in the treatment of various types of cancer including lung cancer, bladder cancer, and breast cancer. It works by blocking the programmed cell death ligand-1 (PD-L1) protein found on tumor cells and tumor-infiltrating immune cells. This helps the immune system recognize and destroy tumor cells more effectively.
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 approvals for use in combination with other cancer drugs. In 2020, the US FDA approved the use of Atezolizumab in combination with bevacizumab, paclitaxel, and carboplatin for the first-line treatment of patients with metastatic non-squamous non-small cell lung cancer (NSCLC) with no EGFR or ALK genomic tumor aberrations based on positive results from the Phase III IMpower150 clinical trial. Such combination therapy approvals are expected to widen the target patient population and drive higher demand for Atezolizumab during the forecast period.
SWOT Analysis
Strength: Atezolizumab has demonstrated clinical activity in multiple cancer types like lung cancer and bladder cancer. Its unique mechanism of action enhances anti-tumor response by inhibiting Programmed cell death ligand 1 (PD-L1) checkpoint pathway.
Weakness: High cost of treatment can be a barrier for widespread adoption. There are also challenges associated with long term efficacy and safety profile of immunotherapy which requires further investigation.
Opportunity: Increasing prevalence of cancer types where Atezolizumab has demonstrated efficacy points towards significant market potential. Growing acceptance of immunotherapy as a standard of care for malignancies bodes well for its uptake.
Threats: Entry of biosimilar versions once patents expire can impact revenues of innovator companies. Strong competition from other PD-1/PD-L1 inhibitors also poses threat to future market share.
Key Takeaways
The global Atezolizumab market is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period, due to increasing adoption for treatment of lung cancer and renal cancer.
Regional analysis: North America dominated the global Atezolizumab market in 2023 and is expected to maintain its lead position during the forecast period. This can be attributed to growing cancer incidence, favourable reimbursement coverage for immunotherapy and presence of major market players in the region. Asia Pacific is predicted to be the fastest growing regional market over the next few years owing to rising healthcare investments, growing cancer burden and availability of latest treatment options.
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 is highly competitive and players are adopting strategic measures like product launches, partnerships and acquisitions to gain an edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
