The atezolizumab market has witnessed significant growth over the past few years owing to rising incidences of cancer and growing preference for immunotherapy drugs. Atezolizumab works by blocking the PD-L1 protein found on tumor cells and T-cells in order to allow the immune system to recognize and fight cancer cells. It offers improved survival rates and better tolerability compared to chemotherapy and is commonly prescribed for the treatment of types of lung cancer, kidney cancer, and bladder cancer. The product is available in solution concentrate as well as liquid concentrate formats which provides flexibility to healthcare professionals.
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 Takeaways
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. Major players are focusing on new drug approvals and manufacturing partnerships to strengthen their market position.
The demand for atezolizumab is increasing significantly driven by rising cancer prevalence across the globe. According to WHO, cancer burden is expected to grow to 27.5 million new cases and 16.3 million cancer deaths by 2040. Furthermore, advantages of immunotherapy over other cancer treatments is propelling the adoption of drugs like atezolizumab.
Key players are expanding their manufacturing and distribution network globally especially in emerging markets of Asia Pacific and Latin America. These regions are expected to offer lucrative growth opportunities for atezolizumab sales owing to growing healthcare spending and increasing disposable incomes.
Market Drivers
Increasing RD investments by players for expanding clinical applications of atezolizumab is a key driver of market growth. Currently it is approved only for few cancer types however clinical trials are ongoing for other cancer indications like breast, colorectal and prostate cancers. Secondly, favorable government policies to increase access to immunotherapies is boosting the adoption rate especially in developing nations.
The global geopolitical tensions have posed significant challenges for the growth of the Atezolizumab market in recent times. The ongoing Russia-Ukraine conflict has disrupted supply chains and logistics across Europe. Both countries are leading producers of raw materials used in the manufacturing of atezolizumab. The restrictions imposed on trade and commerce with Russia by Western nations have limited the supply of essential pharmaceutical ingredients. This has temporarily hampered the production of atezolizumab by major pharma companies. Additionally, the economic turmoil caused by high inflation and rising energy prices in Europe has weakened the purchasing power of consumers and healthcare systems across the region. As Europe accounts for around 35% of the global market demand, the short-term growth prospects are likely to be subdued. However, government funding for oncology care and biotech innovation are expected to offset some of the negatives in the long run. The market players need to diversify their manufacturing and supplier base outside of conflict-hit regions to ensure continuity of supply. They also have to focus on emerging markets in Asia Pacific and Latin America which have remained relatively insulated from geopolitical headwinds. This will help sustain the projected CAGR of 3% until 2030 despite current short-term challenges.
The United States represents the largest and most valuable market for Atezolizumab globally, accounting for over 40% of the total market revenue as of 2024. This is attributed to the high adoption of premium-priced immunotherapies for cancer care and favourable reimbursement policies under public and private insurance plans. Germany, France, Italy, Spain, and the United Kingdom collectively form the second largest value pool, with a projected market share upwards of 35% by 2030 driven by an aging population and rising healthcare spends in the region. Japan also features among the top value markets due to the inclusion of immunotherapies in the national formulary and bulk drug procurement programs of private insurers. These top three regions together represent over 80% of the estimated $308 million atezolizumab market in 2024. Though growth rates are projected to moderate in developed markets, their substantial economic resources will ensure continued value concentration.
Search
Popular Posts
-
Laser Cleaning Dry Market Size, Industry & Landscape Outlook, Revenue Growth Analysis to 2030
By ajit Chary -
The mobile app Pin Up casino
By Pin Win -
Turkey E-Visa for Australian Citizens
-
Looking for a new high efficient product for your home or office?
By dlgroupmalta -
Shop the Latest Collection of Fans at Malta's Leading Store - Fans Malta
By dlgroupmalta