Immunotherapy Drugs Market Size to Reach USD 409.80 Billion in 2028 Growing at a CAGR of 12.1%, says Emergen Research
Emergen Research has published its latest report titled “Immunotherapy Drugs Market, By Drug Type (Checkpoint Inhibitors, Monoclonal Antibodies, Vaccines, Interleukins, Interferons Alpha and Beta, Others), By Therapeutic Area (Infectious Diseases, Autoimmune & Inflammatory Diseases, Cancer, Others), By End-use (Hospitals & Clinics, Research Centers, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global immunotherapy drugs market size was USD 173.08 billion in 2020 and is expected to reach USD 409.80 billion in 2028 and register a revenue CAGR of 12.1% during the forecast period, 2021-2028.
Steady revenue growth of the global immunotherapy drugs market is attributed to factors such as rising prevalence of cancer across the globe, growing burden of infectious and autoimmune diseases, rising awareness of the advantages of immunotherapy drugs over conventional treatments methods, and increasing demand for advanced biologics and biosimilars. As per a study conducted by the National Cancer Institute, there were approximately 1,806,590 new cancer diagnoses and 606,520 deaths caused by cancer in the United States in 2020. Increasing applications of monoclonal antibodies in immunotherapy drugs due to their high specificity and effectiveness, increasing cancer research activities, unprecedented rise in demand for vaccines worldwide amid the ongoing COVID-19 pandemic, and growing need for advanced therapeutics for chronic and acute infectious and autoimmune diseases are other key factors expected to drive the global market revenue growth.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Monoclonal Antibodies Segment Accounted for Largest Revenue Share in 2020:
Based on drug type, the global immunotherapy drugs market is segmented into checkpoint inhibitors, monoclonal antibodies, interleukins, interferons alpha and beta, and others. The monoclonal antibodies segment accounted for the largest revenue share in the global market in 2020. Factors contributing to revenue growth of this segment are increasing prevalence of cancer and infectious and autoimmune diseases worldwide, rising demand for advanced immunotherapy drugs, rapidly rising COVID-19 cases globally, and growing use of monoclonal antibodies in development of COVID-19 vaccines due to their high specificity, reproducibility, and efficacy.
Infectious Diseases Segment to Account for Fastest Revenue CAGR:
Based on therapeutic area, the global immunotherapy drugs market is segmented into infectious diseases, autoimmune & inflammatory diseases, cancer, and others. The infectious diseases segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Rising prevalence of infectious diseases including the novel coronavirus disease worldwide, substantially rising COVID-19 cases across the globe, growing demand for COVID-19 vaccines and therapeutics, and increasing government initiatives to raise public awareness of infectious diseases are major factors driving this segment’s revenue growth.
North America Accounted for Largest Revenue Share:
Among regional markets, the North America immunotherapy drugs market was the most dominant in terms of largest revenue share in the global market in 2020. Major factors driving revenue growth of the regional market include growing prevalence of cancer, chronic infectious diseases, and autoimmune and inflammatory disorders, increasing coronavirus cases, rising demand for COVID-19 vaccines, and increasing regulatory approvals for new immunotherapy drugs. Favorable reimbursement policies and presence of key market players in the region, including AstraZeneca plc and Gilead Sciences, Inc., are other key drivers for the North America market revenue growth.
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Major Companies in the Global Immunotherapy Drugs Market Include:
- Sanofi S.A.
- F. Hoffmann-La Roche AG
- Merck & Co., Inc.
- AstraZeneca plc
- BioNTech SE
- Gilead Sciences, Inc.
- Incyte Corporation
- Bluebird Bio, Inc.
- Genmab A/S
- Bayer AG
For the purpose of this report, Emergen Research has segmented the global immunotherapy drugs market based on drug type, therapeutic area, end-use, and region:
Drug Type Outlook (Revenue, USD Billion; 2018–2028)
- Checkpoint Inhibitors
- Monoclonal Antibodies
- Interferons Alpha and Beta
Therapeutic Area Outlook (Revenue, USD Billion; 2018–2028)
- Infectious Diseases
- Autoimmune & Inflammatory Diseases
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals & Clinics
- Research Centers
Region Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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