The global immunotherapy drugs market size was estimated at around USD 202.67 billion in 2022 and it is projected to hit around USD 1,063.44 billion by 2032, growing at a CAGR of 18.03% from 2023 to 2032.
The global immunotherapy drugs market size was estimated at around USD 202.67 billion in 2022 and it is projected to hit around USD 1,063.44 billion by 2032, growing at a CAGR of 18.03% from 2023 to 2032.
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In the vast expanse of modern medicine, immunotherapy has emerged as a revolutionary force, reshaping the landscape of disease treatment. Unlike conventional therapies, immunotherapy harnesses the body's natural defense mechanisms to combat illnesses, particularly cancer. This groundbreaking approach marks a paradigm shift, offering patients new hope and augmenting the healthcare industry's arsenal against a myriad of diseases.
Market Dynamics:
Drivers
Advancements in Biotechnology:
Immunotherapy owes much of its success to rapid advancements in biotechnology. Breakthroughs in genetic engineering and molecular biology have paved the way for the development of sophisticated immunotherapeutic agents. These advancements enable researchers to design targeted therapies that augment the body's immune response, offering unprecedented precision in treating various diseases.
Rising Incidence of Cancer:
The escalating global incidence of cancer is a significant driver for the Immunotherapy Drugs market. Immunotherapy has demonstrated remarkable efficacy in cancer treatment, offering patients a more tolerable and effective alternative to traditional therapies. As the prevalence of cancer continues to rise, the demand for innovative immunotherapeutic solutions is intensifying, propelling research and development efforts in this field.
Restraints
Limited Treatment Efficacy for Certain Cancers:
While immunotherapy has shown remarkable success in treating several types of cancers, its efficacy is not universal across all cancer types. Some cancers exhibit resistance to immunotherapeutic interventions, posing a significant challenge to researchers and clinicians. The limited effectiveness in certain malignancies restrains the widespread adoption of immunotherapy, necessitating continued research to enhance its applicability.
Adverse Effects and Immune-related Toxicities:
Immunotherapy can trigger immune-related adverse effects, ranging from mild to severe toxicities. While these side effects often indicate the therapy’s activation of the immune system, managing them can be challenging. Severe reactions require immediate medical intervention, impacting patient quality of life and necessitating careful consideration during treatment planning. Balancing efficacy with the management of adverse effects remains a critical restraint.
Opportunities
Innovative Immunotherapy Delivery Methods:
Innovations in drug delivery systems, such as nanoparticles, liposomes, and implantable devices, are revolutionizing immunotherapy administration. These advanced delivery methods enhance drug stability, target specific cells, and prolong drug release, improving treatment efficacy and patient compliance. Investment in research and development of innovative delivery technologies offers a significant opportunity to optimize immunotherapy outcomes.
Expansion of Immunotherapy in Emerging Markets:
The adoption of immunotherapy is gaining momentum in emerging markets. Rising healthcare awareness, increasing disposable incomes, and growing investments in healthcare infrastructure are driving the demand for advanced treatments. Pharmaceutical companies expanding their reach into these markets, coupled with collaborations with local healthcare providers, present an opportunity to address unmet medical needs and improve healthcare accessibility.
Indication Insights
On the basis of drug types, the industry has been further categorized into cancer, autoimmune diseases, infectious diseases, and others. The cancer segment accounted for the largest revenue share of more than 91.25% in 2022 owing to the increased prevalence of cancer, coupled with a rise in the launch of cancer immunotherapies. As per Globocan 2020, breast cancer and lung cancer are the two most predominant cancers with a prevalence of approximately 11.7% and 11.4%. Moreover, in April 2021, the FDA approved Opdivo (nivolumab) in combination with chemotherapy for patients with gastric cancer.
On the other hand, the autoimmune diseases segment is anticipated to register the fastest growth rate during the forecast period. The growth of this segment can be attributed to the increasing cases of autoimmune diseases across the globe and regional approvals of immunotherapy drugs. As per NCBI research, the estimated global prevalence of rheumatoid arthritis is around 0.46% of the global population. Moreover, GSK’s Benlysta (belimumab) received China’s National Medical Products Administration approval for the treatment of active lupus nephritis in February 2022.
Drug Type Insights
On the basis of drug types, the industry has been further divided into monoclonal antibodies, immunomodulators, and vaccines. The monoclonal antibodies segment accounted for the largest share of more than 76.58% in 2022 owing to increased R&D in therapeutic monoclonal antibodies coupled with supportive government initiatives. For instance, in May 2022, the U.S. FDA accepted the supplemental Biologics License Application for priority review of Dupixent (dupilumab) indicated for treating prurigo nodularis. The vaccines segment is expected to register the fastest CAGR during the forecast period.
The growth of this segment is attributed to strategic collaborations among key players and an increase in clinical trials for vaccine development. For instance, in January 2022, Pfizer Inc. and BioNTech SE entered a strategic collaboration to develop an mRNA-based vaccine to prevent shingles. Under this agreement, BioNTech’s mRNA platform technology and Pfizer’s antigen technology will be utilized. In addition, in March 2022, the National Institute of Health launched a Phase 1 trial of three investigational HIV mRNA-based vaccines.
Regional Insights
North America dominated the global industry in 2022 and accounted for the largest share of more than 44.98% of the overall revenue. The launch and regulatory approval of new immunotherapy drugs and favorable reimbursement policies are projected to aid in the region’s growth. For instance, Keytruda, Merck’s anti-PD-1 therapy, was approved by the FDA in October 2021, in combination with chemotherapy for cervical cancer treatment. Moreover, in August 2021, Opdivo (nivolumab) manufactured by Bristol Myers Squibb Co. received FDA approval for the treatment of urothelial carcinoma.
The Centers for Medicare & Medicaid Services provides reimbursement for hospital inpatient treatment with chimeric antigen receptor T-cell therapy. Japan is expected to witness a significant CAGR during the forecast period. The increasing prevalence of cancer in Japan, rising geriatric population, increasing investments in medical research, and well-developed healthcare infrastructure, are some of the major factors boosting the region’s growth. According to the GLOBOCAN report, in 2020, around 27,10,728 people were suffering from cancer in Japan, with about 10,28,658 newly diagnosed cancer cases. Thus, the demand for advanced immunotherapies is expected to be high in this region.
Recent Developments:
In order to create optimal TCRs for cancer immunotherapy, Nextera AS and Zelluna Immunotherapy AS strategically cooperated in March 2022.
In order to treat hematological malignancies, Biomunex Pharmaceuticals and Institut Curie worked together in February 2022 to create a therapeutic candidate for immunotherapy using Biomunex's BiXAR technology.
Boehringer Ingelheim International GmbH and Enara Bio struck a licensing deal in January 2021 for the use of Enara Bio's Dark Antigen discovery platform to develop innovative cancer immunotherapies.
Companies Mentioned in Report
Amgen, Inc.; Novartis AG; AbbVie, Inc.; Pfizer, Inc.; F. Hoffmann-La Roche Ltd.; Johnson & Johnson Services, Inc.; AstraZeneca; GSK; Sanofi; Bayer AG
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Report Segmentation:
- By Drug Type
- Monoclonal Antibodies
- Immunomodulators
- Vaccines
- By Indication
- Cancer
- Autoimmune Diseases
- Infectious Diseases
- Others
- By Regional
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Singapore
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
- North America
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