Atezolizumab Market is Estimated to Witness High Growth Owing to Increasing Prevalence of Cancer

Author : shradha pawar | Published On : 26 Jun 2024

The atezolizumab market comprises monoclonal antibodies used as immunotherapy drugs to treat cancer. Atezolizumab functions by binding to the programmed death-ligand 1 (PD-L1) protein found on tumor cells and T-cells to restore anti-tumor responses. It is indicated for the treatment of various cancers including lung cancer, kidney cancer, bladder cancer, among others. The increasing prevalence of cancer worldwide is raising the demand for effective targeted therapies 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.

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.

The rising cancer incidence rates globally present lucrative opportunities for players in the atezolizumab market to expand their product offerings and strengthen geographical presence. In addition, drugs in the pipeline combining atezolizumab with other therapies hold promise to further improve clinical outcomes.

Advancements in cancer immunotherapy utilizing checkpoint inhibitors like atezolizumab have significantly improved treatment outcomes. Ongoing research aims to identify new predictive biomarkers to select candidates most likely to respond to atezolizumab therapy. Combination regimes with other immunotherapies, chemotherapy and targeted therapies also aim to enhance efficacy.

Market drivers

The growing geriatric population prone to developing cancer as well as increasing emphasis on targeted cancer therapies drives growth of the atezolizumab market. Atezolizumab offers advantages over chemotherapy including lesser side effects and more tolerable treatment schedules. Increased healthcare expenditures in major markets also support demand for high-cost innovative drugs like atezolizumab.


Challenges in Atezolizumab Market
The atezolizumab market is facing challenges related to drug resistance and high treatment cost. Patients sometimes develop resistance to atezolizumab treatment over time which reduces its efficacy. Developing newer formulations or combination therapies to combat resistance remains a task for players in this market. Moreover, the cost of atezolizumab treatment is very high making it unaffordable for many patients. This poses affordability challenges. Players need to focus on value-based pricing strategies to expand patient access to this important therapy.

SWOT Analysis
Strength: High efficacy and improved survival rates in cancer patients.

Weakness: Emergence of resistance, high development and treatment costs.

Opportunity: Potential new indications approval, combination therapies.

Threats: Patent expiry of blockbuster drugs, biosimilars entry.

Geographically, North America accounts for the largest share in the atezolizumab market currently both in terms of value and volume. This is due to high adoption rates supported by favorable reimbursement policies and presence of key players in the region. Asia Pacific is expected to be the fastest growing regional market for atezolizumab over the forecast period due to rising healthcare spending, increasing cancer incidence and growing awareness.

The European market for atezolizumab also holds significant value share currently led by countries like Germany, UK and France. However, patent expiry of blockbuster cancer drugs is expected to dent future growth prospects to some extent in European markets. Emerging markets of Brazil, Russia, India and China offer lucrative untapped opportunities for atezolizumab market players.

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191