Spain Cancer Immunotherapy Market Analysis

Spain Cancer Immunotherapy Market Executive Analysis

Spain's cancer immunotherapy market is expected to witness growth from $2.1 Bn in 2022 to $3.4 Bn in 2030 with a CAGR of 6.1% for the forecasted year 2022-30. Given the decentralized character of the Spanish health system, where Ministry of Health spending represents less than 3% of overall governmental spending, the funding allocated to the Ministry of Health in 2023 will increase by 6.5% to $3,310 Mn. This amount includes funding from both the European Recovery and Resilience Facility and the national public budget allotted for 2023. The nationwide network for public health monitoring will receive $4.4 Mn, and the new nationwide Public Health Agency will receive $3.4 Mn. Another $1,404 Mn is allotted for the centralized acquisition of the COVID-19 vaccine. With a focus on enhancing primary care, the Ministry of Health has allocated about $1,280 Mn to enhance primary care facilities and equipment for specialty care, screening programs, and mental healthcare. These funds will go to independent towns.

With an anticipated 276,239 new cases of cancer in 2021, cancer is one of the leading causes of morbidity and mortality in Spain. Normal tissue cells give rise to tumors through "mutations," which are changes to a cell's DNA. When a cell undergoes a mutation, it radically alters and begins to divide uncontrolled, eventually leading to cancer. One of the body's most effective systems, the immune system often serves as a physiological buffer against assaults of any kind. This mechanism, which has developed over countless generations to protect against the acts of outside forces, has enabled humans to survive in harsh environments. It is made up of a wide range of cells with various roles that work together in unison to identify and get rid of aberrant cells from the body. These aberrant cells have substances called antigens on their surface or release them when they are destroyed, which prompts the immune system to create antibodies as a defence.

The development and activation of T lymphocytes, which have the ability to neutralize or eradicate these aberrant cells, is an important part of this response. These immune system-specific Dendritic Cells, whose primary function is to present activation antigens, activate these T lymphocytes by presenting the previously identified antigens. These long-understood notions have led to the creation of medications that aim to unclog the system that prevents the lymphocytes' damaging activity. A group of substances called monoclonal antibodies has been created that work in patients to regain their defensive skills in order to carry out this "unblocking" function. The introduction of so-called immunotherapy agents has ushered in a new era of medicine.

Market Dynamics

Market Growth Drivers

The prevalence of cancer has been rising in Spain over time, which has increased the demand for cancer immunotherapy therapies. Research on cancer immunotherapy has advanced significantly, resulting in the creation of fresh and efficient therapies. Cancer immunotherapy treatments can be customized for specific individuals, which is crucial in the healthcare sector. Through funding and other initiatives, the Spanish government has been promoting the growth of the cancer immunotherapy sector resulting in the expansion of the Spain cancer immunotherapy market.

Market Restraints

The cost of cancer immunotherapy treatments may make them inaccessible to some patients and healthcare systems. The market potential of some cancer immunotherapy treatments may be constrained since they are only successful in a small subset of patients. The use of cancer immunotherapy treatments may be constrained by the availability of numerous other cancer treatments, including chemotherapy and radiation therapy.  Treatments for cancer immunotherapy may only be used in specific patient populations due to potential adverse effects and safety issues limiting the growth of the Spain cancer immunotherapy market.

Competitive Landscape

Key Players

• Oncomatryx Biopharma (ESP)
• Immucura (ESP)
• Minoryx Therapeutics (ESP)
• Oryzon Genomics (ESP)
• VIVEbiotech (ESP)
• Amgen
• Astrazeneca
• Bayer
• Bristol-Myers Squibb
• Eli Lily
• F. Hoffmann-La Roche
• Pfizer

Healthcare Policies and Regulatory Landscape

The National Health System (SNS), which offers comprehensive coverage for all citizens in Spain, is in charge of overseeing the country's cancer health insurance and payment procedures. The SNS covers cancer treatment, including immunotherapy. The Spanish Agency of Medicines and Medical Devices (AEMPS), which assesses the safety, efficacy, and cost-effectiveness of novel treatments, oversees the payment of cancer immunotherapy treatments in Spain. The cost of the medication is established by the AEMPS and is then discussed between the pharmaceutical business and the Ministry of Health. The Spanish government has taken a number of steps to guarantee that cancer patients have access to the most advanced therapies, such as immunotherapy. To ensure that novel medicines, including cancer immunotherapy treatments, are made available to patients as soon as feasible, the Spanish government established a fast-track approval process in 2017. The SNS has also put into practice a number of measures to enhance cancer care, including the establishment of multidisciplinary cancer units, the compilation of cancer treatment guidelines, and the introduction of cancer screening programs.