The global neoantigens market is expected to expand at a healthy rate from 2021 to 2031 (forecast period). The rising prevalence of cancer and other chronic diseases, together with the rising need for advanced therapeutic drugs for rapid, dependable, and long-term cancer therapy, is expected to fuel the global neoantigens market expansion.
Moreover, recent clinical developments in biotechnology and increasing investments in the research of neoantigens and related mechanisms are projected to drive the global neoantigens market. The trend is especially obvious in areas with greater economic muscle, highly competent biotechnological human resources, and higher internet penetration.
Furthermore, strong investment by major players in the development and design of new medications for disease elimination or chronic disease elimination through more clinical testing, regular product releases, and required collaborations and mergers may propel the global neoantigens market.
Key players operating in the global neoantigens market are Advaxis, Inc., Achilles Therapeutics plc, Frame Cancer Therapeutics, Moderna, Inc., Genocea, Gritstone Oncology, Gradalis, Inc., Immunicum AB, Medigene AG, Ziopharm Oncology, Inc., Merck & Co. Inc. To broaden and strengthen their global reach, key players are pursuing market strategies such as collaborations, technological advancements, investments, acquisitions, and R&D activities.
Cancer has risen to become the main cause of mortality worldwide. Cancer was the first major cause of death among people under the age of 70 in 183 countries and the fourth top cause of death in 123 countries in 2019, as per the World Health Organization (WHO). Moreover, according to WHO data released in March 2021, 10 million deaths were recorded in 2020 as a result of various cancer kinds.
Cancer's rising incidence has put a strain on healthcare systems around the world. As per the International Agency for Research on Cancer (IARC), the worldwide load of new cancer diagnoses is expected to reach 27.5 million by 2040, with the disease accounting for 163 million deaths that year. Lifestyle changes, insufficient physical activity, smoking, and unpredictable health and climatic circumstances are all anticipated to contribute to an increase in the global cancer incidence in the years ahead. As a result, it is critical to control and prevent the growing number of malignancies worldwide.
Several governments have launched initiatives and programs to improve cancer treatment and prevention. For example, in 2017, the World Health Assembly passed Resolution Cancer (WHA70.12), an integrated approach to cancer prevention and control. The program has urged the WHO and other governments to step up efforts to meet the targets outlined in the Global Action Plan (2013-2020) for the prevention and management of non-communicable diseases (NCDs) and the 2030 UN Agenda for Sustainable Development to reduce cancer-related premature deaths. Moreover, a number of private organizations have embraced the action plans to combat the rising cancer burden, generating a demand for better cancer prevention techniques. As a result of the increasing frequency of cancer, there is a greater need for new and effective therapeutic techniques, such as neoantigens, which is expected to drive the global neoantigens market.
Biotechnology advancements have resulted in a greater acceptance of immunotherapy, which is pushing its application in tailored medications. Immunotherapy is commonly utilized to treat cancer; a few immunotherapy treatments include neoantigens, which are antigens found on the surface of cancer cells. As a result, neoantigen uses for cancer treatment are being extensively researched. Since neoantigens are unique, researchers can identify patients' immune systems and uncover antigens to target cancer cells while leaving healthy cells alone. Such aspects are projected to propel the global neoantigens market.
The North America neoantigens market is expected to grow due to increased cancer cases in the region and rising demand for the development of improved treatment procedures. The neoantigens market in Asia Pacific is likely to experience considerable growth due to increasing new research and innovations in the regional market.