Atezolizumab Market is Estimated To Witness High Growth Owing To Rising Adoption of Targeted Immunotherapies

Market Overview:
Atezolizumab is an engineered humanized monoclonal antibody used for the treatment of various types of cancers including urothelial carcinoma, non-small cell lung cancer, triple-negative breast cancer, etc. It works by targeting and blocking the PD-L1 protein expressed on tumor cells and tumor-infiltrating immune cells. Blocking the interaction between PD-L1 and its receptor PD-1 activates the anti-tumor T cell immune response leading to inhibition of tumor growth and improved survival rates.

Market key trends:
Rising adoption of targeted immunotherapies: The increasing prevalence of different types of cancers worldwide and limitations of traditional chemotherapy and radiation therapies have led to rising focus on development of targeted immunotherapy drugs such as atezolizumab. This monoclonal antibody selectively targets the PD-L1 protein expressed on tumor cells while sparing normal cells, thereby providing an effective treatment option with manageable side effects. Furthermore, various clinical trials demonstrating significant improvement in overall survival rates with atezolizumab therapy in different cancer types have boosted its adoption among oncologists for treatment of cancers.

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 high R&D and marketing costs associated with developing drugs act as deterrents for new entrants. Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over buyers as they can set higher prices for innovative drugs. Bargaining power of suppliers: Suppliers of raw materials have limited bargaining power due to availability of substitutes. Threat of new substitutes: Biologics face competition from newer targeted therapies. Competitive rivalry: Companies compete on the basis of developing more efficacious and cost-effective drugs.

SWOT Analysis

Strengths: High unmet medical need in cancer treatment. Weaknesses: Long development timeline and clinical trials. Opportunities: Growth in immunotherapy market and strategic collaborations. Threats: Patent expiries of blockbuster drugs and price control regulations.

Key Takeaways

The global Atezolizumab market is expected to witness high growth, exhibiting CAGR of 16% over the forecast period, due to increasing demand for affordable immunotherapies for cancer treatment. North America is expected to dominate the Atezolizumab market over the forecast period due to growing cancer prevalence and strong research funding. The Atezolizumab market in Asia Pacific is expected to grow at a robust pace due to rising healthcare investments and expansion of healthcare facilities.

Key players operating in the Atezolizumab market are Roche, Novartis, Pfizer, Merck, AstraZeneca, Bristol-Myers Squibb, BeiGene, Innovent Biologics, Genentech, AbbVie. Roche launched atezolizumab under the brand name Tecentriq for the treatment of advanced bladder cancer in 2016. It is also approved for various other cancer types including lung, liver and breast cancers.

Read More: https://www.ukwebwire.com/new-avanue-for-atezolizumab-market-growth-trends-and-forecast-analysis/