Market Overview:
Atezolizumab is a programmed death ligand 1 (PD-L1) blocking antibody used for treatment of various cancers including bladder cancer, lung cancer and others. It helps in boosting the immune system to fight against cancer by blocking immune checkpoints.
The global Atezolizumab Market is estimated to be valued at US$ 308 Million in 2023 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:
The key trends in Atezolizumab Market includes rising prevalence of various cancers globally and increased demand for biological therapies over conventional chemotherapy. Atezolizumab treatment is emerging as an effective option for managing cancer with minimal side effects as compared to chemotherapy and radiation. It has shown promising results in clinical trials for increasing survival rate in various cancers. Recent approvals for new cancer indications will further drive its demand over the forecast period.
Segment Analysis
The global Atezolizumab market is segmented into indications, distribution channel, and end user. By indication, cancer is the dominating segment accounting for more than 70% of the market share owing to rising prevalence of cancer globally and atezolizumab's effectiveness in treating several types of cancer. By distribution channel, hospital pharmacies dominate the segment due to high patient volume and availability of the drug. By end user, hospitals hold the largest market share due to availability of advanced healthcare facilities for cancer treatment in hospitals.
Key Takeaways:
The global Atezolizumab market is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period, due to increasing prevalence of cancer worldwide.
Regional analysis:
North America dominates the global atezolizumab market with more than 40% share due to presence of advanced healthcare facilities and rising incidence of cancer. Asia Pacific is poised to grow at the fastest rate during the forecast period owing to growing healthcare infrastructure and rising cancer cases in developing countries of the region.
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. The market is highly consolidated with top 3-4 players accounting for over 75% of the global revenue.
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