Immunotherapy Drugs Market Size to Reach US$ 351.56 BN by 2030

The global immunotherapy drugs market size is expected to reach around US$ 351.56 billion by 2030 and it is anticipated to grow at a CAGR of 7.9% between 2022 to 2030.

The global immunotherapy drugs market size was estimated at US$ 190.44 billion in 2022. Immunotherapy uses substances to stimulate the immunity system of our body to help it fight cancer, infection, and other diseases. It uses a person's immune system to fight cancer. These drugs help our immune system attack cancer cells. Our immune system destroys abnormal cells. It prevents the growth of many cancers.

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Immunotherapy is a category of cancer therapy. It triggers our body's immune system to fight cancer cells. These cells are different from normal cells. Immunotherapy drugs locate and destroy mutated cells. Some immunotherapy drugs are Ipilimumab, Pembrolizumab, Nivolumab, Atezolizumab, etc. New drugs continue to be developed.

Immunotherapy drugs boost the body's immune system. These drugs are used to treat cancer. It triggers the body's immune system and stimulates an immunological response. This response helps in the generation of antibodies. These antibodies kill malignant or tumor cells. 

Growth factors 

The rising prevalence of chronic diseases significantly contributes to the immunotherapy drugs market growth. In line with this, the increasing healthcare expenditure and rapid adoption of targeted therapy positively influence market growth. Furthermore, the growing popularity of biosimilars catalyzes market growth. The heavy investments in research and development activities by the biotechnology and pharmaceutical companies create a positive outlook for the market. The surge of research labs and strategic partnerships by the key market players propel the market growth.

The rapidly growing biopharmaceutical industry strengthens market growth. The rising government support and speedy drug approval process favor market growth. Spreading awareness about the product’s benefits creates a positive outlook for the market. Key industry players are engaging in strategic collaborations. The rapid adoption of biosimilar drugs boosts the market growth.  

Report Highlights: 

• Based on the drug type, monoclonal antibodies dominated the global immunotherapy drugs market and accounted for the largest revenue share. This is due to the increasing popularity of monoclonal antibodies. These antibodies cure various chronic diseases and are highly effective. It causes minimal or no side effects. The vaccines are expected to witness a promising CAGR in the coming years due to the rising burden of various infections and diseases. The development of immunotherapy-based vaccines catalyzes segment growth.  
• Based on the therapeutic area, Cancer dominated the market and accounted for the largest revenue share due to the increased prevalence of cancer. The common cancer types are lung cancer, prostate cancer, breast cancer, and colorectal cancer. The rising product demand to treat cancer accelerates the segment's growth. The growing cases of cancer catalyze segment growth. 

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Market Report Scope

Key Developments: 

• In May 2020, VinsBioproducts Ltd. entered into a strategic collaboration with the University of Hyderabad and the CSIR Center for Cellular and Molecular Biology.  

• In March 2022, Nextera AS collaborated with Zelluna Immunotherapy AS to develop optimized TCRs for cancer immunotherapy. 
• In February 2022, Biomunex Pharmaceuticals strategically collaborated with Institut Curie to develop an immunotherapy drug candidate for treating hematological malignancies using Biomunex Pharmaceuticals’ BiXAR technology. 

Regional snapshots 

Based on the region, North America dominated the market and accounted for the largest revenue share due to the increased prevalence of chronic diseases. The rising healthcare expenditure significantly contributes to market growth across the region. In line with this, the growing cases of colorectal cancer, lung cancer, prostate cancer, and breast cancer positively influence product demand. Furthermore, the escalating awareness about the benefits of immunotherapy drugs creates a positive outlook for the market. The enhanced access to healthcare facilities catalyzes market growth across the region. The presence of developed healthcare infrastructure and key biopharmaceutical companies propels market growth.

The Asia Pacific is expected to witness a promising CAGR in the coming years due to the rising prevalence of target diseases. The increasing number of chronic diseases and deaths strengthens market growth. The development of healthcare infrastructure bolsters market growth.  

Market Dynamics for Immunotherapy Drugs: 

Market Driver: Increasing Prevalence of Cancer 

The Increasing Prevalence of cancer diseases significantly contributes to global market growth. In line with this, the rising prevalence of different types of cancers positively influences market growth. Furthermore, the new drug launch and the increasing product approvals for cancer treatment catalyze market growth. Apart from this, pharmaceutical and biotechnology companies' growing research and development activities propel market growth. Pharmaceutical companies are expanding the capabilities of their research and development. Cancer is the second main cause of death after cardiovascular disorders. Factors like changing diet patterns, urbanization, and alcohol and tobacco consumption are the primary causes of cancer. The increasing prevalence of cancer catalyzes the demand for immunotherapy drugs. The rising awareness regarding cancer among the masses positively impacts market growth. The growing consumption of alcohol and tobacco drives market growth. The adoption of immunotherapy drugs boosts the market growth. The rising initiatives of the government and various non-profit organizations to spread awareness fuel market growth. The demand for early diagnostics and treatment of cancer catalyzes market growth. Heavy investments in the biopharmaceutical industry strengthen market growth. The availability of various immunotherapy drugs fuels market growth.  

Market Opportunity: High adoption of immunotherapy drugs 

Immunotherapy Drugs are preferred over conventional treatments. This offers numerous opportunities to the market players. The high adoption of immunotherapy drugs catalyzes market growth. The surging demand for monoclonal antibodies and biosimilars propels the market growth. The rising prevalence of target diseases and favorable approval scenario favors market growth. The growing demand for personalized medicines strengthens market growth. The rapid advancement of affordable nanoparticles offers numerous opportunities for the growth of the immunotherapy drugs market. 

Market Restraint: High costs 

The high costs of immunotherapy treatment restrict the immunotherapy drugs market growth. The regional disparities and shortage of insurance coverage further hamper the market growth. The doctors use immunotherapies in combination, which doubles the cost. Therefore, the high costs of cancer treatment impede the market growth. 

Market Challenge: Side-effects of immunotherapy drugs 

The side effects associated with immunotherapy drugs challenge the market growth. Cancer patients might be on immunotherapy for a long time. The side effects can happen at any point during and after treatment. All these factors hinder the growth of the immunotherapy drugs market.  

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