With a stream of product approvals in recent years, the global immunotherapy market has hit its stride. In particular, immunotherapy for cancer is a hot area of research. According to BCC Research, the global cancer immunotherapy market should reach $96.5 billion in 2021, up from $73.0 billion in 2016, reflecting a compound annual growth rate (CAGR) of 5.7%. A surge in the use of checkpoint inhibitors, immunomodulatory therapies, and the development of next-generation oncolytic virotherapies are driving this growth.
BCC Research reports that an expanding population of patients with prostate cancer, the increasing demand for treatment, and emerging technologies are contributing to growth of the global prostate cancer market. Valued at $47.2 billion in 2016, this market is estimated to reach $65.1 billion by 2021 at a compound annual growth rate of 6.6%.
Synthetic biology, which combines the principles of computer science, engineering, and biology, has become established as an important discipline in the life sciences industry. As put by USC’s Leonardo Morsut: “Synthetic biology is…trying to bring the engineering approach of building things into biology.” In addition to its enormous potential for future applications, synthetic biology has significant near-term commercial opportunities. The list of new products and applications is growing. Applications include specialty chemicals, enzymes, synthetic genes and cells, as well as pharmaceuticals, agricultural seeds, vaccines, biofuels, and chassis microorganisms.
The battle cry against multidrug-resistant bacteria is loud and clear. Voices calling for novel antifungal agents are also rising, as fungi bolster the ranks of microbial infectious agents that are becoming increasingly drug resistant. Fungal infections are on the rise, many with lethal consequences. New proprietary research by BCC Research predicts that innovative antifungal drugs in development, along with a growing number of people with weakened immune systems and FDA fast-track provisions, are aiding growth in the global market for antifungal drugs. BCC Research expects the global market for antifungal drugs to reach $16.1 billion in 2021, up from $13.1 billion in 2016.