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Cancer immunotherapy market on the rise
April 2019
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DUBLIN—According to a recent report from Research and Markets, the global cancer immunotherapy drug discovery outsourcing market is expected to reach $1.7 billion by 2025, growing at a compound annual growth rate of 13.5 percent between 2018 and 2025. Key drivers for this growth are rising cancer prevalence and mortality, as well as accelerated development within the area of cancer immunotherapy. Pharmaceutical companies spend 2.5 percent more than other high-tech industries on in-house research and development, the report notes, which is a leading cause of the transition to outsourcing drug discovery. In addition, established tax credits provide companies with the opportunity to outsource to CROs and “therefore, receive benefits and reduce problems associated with taxation authorities or other bodies administering such incentive programs.”

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