The rapid expansion of global immunotherapy drugs market is a result of growing demand for immunotherapy drugs instead of traditional treatment therapies, and increased pervasiveness of autoimmune ailments, cancers, and other infectious diseases.
According to the research report titled ‘Global Immunotherapy Drugs Market Size study with COVID-19 Impact, by Type (Monoclonal Antibodies, Checkpoint Inhibitors, Interferons & Interleukins and Other Immunotherapies), by Therapeutic Area (Cancer, Autoimmune & Inflammatory Diseases, Infectious Diseases and Others), by End-User (Hospitals, Clinics and Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global immunotherapy drugs market accumulated revenues worth USD 146.8 billion in the year 2019 and is predicted to expand with a CAGR of 11% between 2020 and 2027.
The rapid expansion of global immunotherapy drugs market is a result of growing demand for immunotherapy drugs instead of traditional treatment therapies, and increased pervasiveness of autoimmune ailments, cancers, and other infectious diseases. According to American Cancer Society, over 15.5 million cancer cases were recorded across the United States till January 2016.
It is to be noted that immunotherapy drugs are utilized to improve the immunity system of the human body. The drug basically stimulates the immune system and subsequently produces an immune response. This process helps in producing antibodies to address tumor or cancerous cells.
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Other factors such as technological breakthroughs and strategic collaborations among major companies are augmenting worldwide immunotherapy drugs industry remuneration. In April 2018, for instance, Roche Holdings AG, a Europe-based company, introduced a monoclonal antibody atezolizumab for treating small cell lung cancer in India.
Moreover, rising adoption of monoclonal antibodies and biosimilars is further aiding the market expansion. However, complexities during manufacturing processes along with rising concerns regarding the side effects associated with the product may act as restraining factor to global immunotherapy drugs industry expansion.
Regionally, North America currently accounts for a substantial share of worldwide immunotherapy drugs market and is estimated to showcase similar growth trends in the ensuing years. High occurrence of autoimmune diseases and cancer, along with growing demand for safe cancer therapies are augmenting the regional adoption rates of immunotherapy drugs. Additionally, favorable reimbursement policies and rising number of FDA approvals for immunotherapy drugs are also complementing the business outlook in North America.
Meanwhile, the report claims that Asia-Pacific immunotherapy drugs market is reckoned to witness the highest CAGR through 2027.
C. H. Boehringer Sohn AG & Co. KG, Amgen Inc., AbbVie Inc., GlaxoSmithKline plc, Sanofi S.A., Johnson & Johnson, Novartis International AG, Merck & Co. Inc., Pfizer Inc., and Roche Holding AG are the key participants in global immunotherapy drugs market sphere.
To access a sample pages of this report titled “Global Immunotherapy Drugs Market Size study with COVID-19 Impact, by Type (Monoclonal Antibodies, Checkpoint Inhibitors, Interferons & Interleukins and Other Immunotherapies), by Therapeutic Area (Cancer, Autoimmune & Inflammatory Diseases, Infectious Diseases and Others), by End-User (Hospitals, Clinics and Others) and Regional Forecasts 2020-2027” in detail along with the table of contents, please click the link below:
https://www.marketstudyreport.com/reports/global-immunotherapy-drugs-market-size-research
Related Report:
Global Allergy Immunotherapy Market Size and Regional Forecasts 2020-2027
Global Allergy Immunotherapy Market is valued approximately USD 2.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.85 % over the forecast period 2020-2027. Allergy immunotherapy is a treatment for the avoidance of allergic reactions caused, among other factors, by fruit, grass pollen, dust, and bee venom. Among other common allergies, allergy immunotherapy helps control symptoms among people suffering from allergies such as rhinitis, asthma, and conjunctivitis. Immunotherapy for allergies requires daily doses that usually raise the dose in order to develop resistance in the patient. Due to the improved development of blocking antibodies that battle the foreign compounds that induce allergies, the patient’s immune mechanism becomes less vulnerable with a gradual rise in dose.
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