The atezolizumab market has been gaining significant prominence over the years owing to its rising use in treatment of various types of cancer such as lung cancer, kidney cancer, bladder cancer and others. Atezolizumab is a genetically engineered monoclonal antibody used for immunotherapy treatment of cancer. It works by blocking the PD-L1 protein interaction and helps boost the immune system’s ability to help fight the cancer cells.
The global atezolizumab market is estimated to be valued at US$ 308 Million in 2024 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030.
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 rising prevalence of cancer globally has emerged as a major driver of growth for this market. As per WHO, cancer burden has risen to 18.1 million new cases and 9.6 million cancer deaths in 2018 globally. Early detection and improvement in treatment options have bolstered the demand for effective drugs like atezolizumab for cancer management.
Key Takeaways
Key players: 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.
Key opportunities: Growing investment by manufacturers in R&D of monoclonal antibodies for cancer immunotherapy and rising number of clinical trials are expected to create lucrative opportunities for growth of atezolizumab market over the forecast period.
Global expansion: Favourable regulatory approvals and reimbursement policies particularly in developed regions has ensured rapid uptake of atezolizumab therapy globally. Ongoing entry of market players in developing countries of Asia Pacific and Latin America will further aid the global expansion of atezolizumab market.
Market drivers
The key driver for atezolizumab market growth is the rising prevalence of cancer globally. As per WHO estimates, cancer burden is projected to grow by over 70% in next two decades. Growing geriatric population which is more prone to developing cancer, increasing risk factors like smoking, changing lifestyle etc. are fueling the incidence rates. Moreover, atezolizumab offers higher efficacy and better tolerability compared to conventional treatment options which has boosted its demand. Continued clinical research exploring new indications is further expanding the therapeutic scope of atezolizumab supporting the market revenues.
PEST Analysis
Political: Pharmaceutical regulations can have a significant impact on the atezolizumab market. Government initiatives and policies related to drug approvals and reimbursement will influence the growth and adoption of this treatment.
Economic: The overall performance of the economy and availability of healthcare funding will determine spending on expensive cancer immunotherapies. Recession or financial crises may slow down market growth.
Social: Growing cancer prevalence along with increasing awareness and acceptance of immunotherapies are driving demand. However, side effects remain a concern for some patients.
Technological: Continuous R&D is expanding the clinical applications of atezolizumab. Companion diagnostics and combination therapies are enhancing efficacy and outcomes. Further research is evaluating its potential in new cancer types.
The atezolizumab market in terms of value is currently concentrated in developed regions like North America and Europe with their established healthcare systems and reimbursement structures that facilitate access to premium drugs. According to various estimates, the United States accounts for over 50% of the global market share due to the high volume of breast and lung cancer cases and favorable coverage for atezolizumab under Medicare and private payers.
The Asia Pacific region is poised to be the fastest growing market for atezolizumab during the forecast period from 2023 to 2030. This can be attributed to rising healthcare expenditures, an increasing elderly population susceptible to cancer, growing public awareness about advanced therapies, and improvements in diagnostic capabilities in highly populated countries like China and India. Manufacturers are also actively pursuing generic and biosimilar production licenses in Asia to cater to its massive patient population.
