July 21, 2024

The Atezolizumab Market is driven by rising cancer burden

Atezolizumab is a monoclonal antibody commonly used to treat several types of cancer including lung cancer, kidney cancer, bladder cancer, and other solid tumors. Atezolizumab functions by blocking the interaction between PD-L1 and PD-1 to boost the anti-tumor immune response. It offers an effective treatment option with lesser side effects compared to chemotherapy. The global cancer burden has been steadily rising owing to lifestyle changes, environmental toxins, and prolonged lifespan. According to WHO, cancer accounted for nearly 10 million deaths in 2020 and its incidence is projected to further increase in the coming years. The growing cancer cases worldwide are fueling the demand for effective immunotherapies like atezolizumab.

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, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Combination therapies emerging as a key trend in cancer treatment. Most cancer patients receive treatment with multiple anti-cancer drugs targeting different pathways and immune receptors. Combination of atezolizumab with chemotherapy or other immunotherapies is being widely investigated in clinical trials. For instance, combination of atezolizumab with bevacizumab has shown promising efficacy for treating NSCLC, breast cancer, and liver cancer. Such combination regimens are expected to become standard of care in the coming years owing to superior treatment outcomes. This is anticipated to augment the demand for atezolizumab during the forecast period.

Porter’s Analysis
Threat of new entrants: The biopharmaceutical industry requires significant R&D investments and entering the market require large initial capital which limits threat of new entrants.
Bargaining power of buyers: The buying power is moderately high as major pharmaceutical companies have large bargaining power over pricing and purchase volumes.
Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials and manufacturing services are available from numerous suppliers.
Threat of new substitutes: Threat is low as there are limited product alternatives for cancer treatment presently.
Competitive rivalry: The competition is high among major players to gain higher market share.

Key Takeaways
The global Atezolizumab market is expected to witness high growth. Regional analysis: Europe is also expected to grow at a high rate during the forecast period. Factors such as rising awareness about early cancer diagnosis, improving healthcare infrastructure and increasing spending on oncology therapeutics are driving the market in the region.

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. Strategic collaborations and new product launches are some of the key strategies adopted by major players to gain higher market share.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it