Market Overview:
Atezolizumab is a humanized monoclonal antibody used to treat different types of cancers like non-small cell lung cancer, urothelial carcinoma and triple-negative breast cancer. It works by blocking the interaction between PD-L1 protein and the PD-1 and B7.1 proteins, releasing the PD-1 pathway-mediated immune suppression and inhibiting tumor growth. Atezolizumab treatment has shown promising results with good tolerability and minimal adverse effects. Its targeted mechanism of action helps improve survival rates in cancer patients with minimal toxicity.
Market key trends:
Continuous research and development by pharmaceutical giants to expand the application of Atezolizumab in new cancer indications is a key trend in this market. Roche received FDA approval in 2020 for the use of Atezolizumab along with chemotherapy as first-line treatment for extensive-stage small cell lung cancer based on positive trial results. Ongoing clinical trials are exploring its efficacy in renal cell carcinoma, cervical cancer, Hodgkin’s lymphoma and other tumor types which is expected to boost the market demand over the forecast period from 2023-2030.
The global Atezolizumab Market Share is estimated to be valued at US$ 2.68 Bn in 2023 and is expected to exhibit a CAGR of 16.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Atezolizumab market is low due to patent protection and high capital requirements for R&D and manufacturing.
Bargaining power of buyers: The bargaining power of buyers in the Atezolizumab market is high due to the presence of substitutes and buyers can choose between various brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials used in Atezolizumab production are common.
Threat of new substitutes: The threat of substitutes is moderate as there are new immuno-oncology drugs entering the market.
Competitive rivalry: High due to the presence of many global and local players offering generic versions.
Key Takeaways
The global Atezolizumab market is expected to witness high growth, exhibiting 16% CAGR over the forecast period, due to increasing demand for targeted cancer therapies.
Regional analysis: North America dominated the market in 2023 due to presence of advanced healthcare facilities and increasing prevalence of cancer in the US and Canada. Asia Pacific is expected to witness fastest growth during the forecast period with China and India being the major markets.
Key players: Key players operating in the Atezolizumab market are Roche, Novartis, Pfizer, Merck, AstraZeneca, Bristol-Myers Squibb, BeiGene, Innovent Biologics, Genentech, AbbVie. Roche leads the market with its blockbuster drug Tecentriq (Atezolizumab). Key players are focusing on developing combination therapies to strengthen their product pipeline.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
