As per Precedence Research, the immunotherapy drugs market size is expected to hit US$ 324.83 billion by 2030 from valued at US$ 176.94 billion in 2021, growing at a CAGR of 7.9%.
As per Precedence Research, the immunotherapy drugs market size is expected to hit US$ 324.83 billion by 2030 from valued at US$ 176.94 billion in 2021, growing at a CAGR of 7.9%.
Growth Factors
The immunotherapy drugs help to boost the immune system of the body. The wide range of immunotherapy drugs are used to fight against diseases. Those drugs are alpha and beta, monoclonal antibodies, interferons, vaccines, and interleukins. The immunotherapy drugs are applicable for the treatment of autoimmune and inflammatory disorders, cancer, and infectious diseases. The immunotherapy drugs are also used in the treatment of cancer.
In addition, the immunotherapy drugs market growth is being driven by the rising prevalence of lifestyle disorders combined with surge in the adoption of targeted therapies. The support is constantly supporting the growth of the global immunotherapy drugs market by financing a funding research and development activities. Moreover, the key market players are adopting new strategies for the expansion of the immunotherapy drugs market. Those strategies are merger and acquisition, partnership, product launch, and joint venture. These strategies help market players to increase their market share and customer reach globally.
Get the sample copy of report@ https://www.precedenceresearch.com/sample/1472
Furthermore, the growing geriatric population is also propelling the growth of the global immunotherapy drugs market during the forecast period. It has been noticed that the immune system of people of age 60 and above is very weak. To stimulate and boost their immune system, doctors recommend them for the consumption of immunotherapy drugs at a regular period of time. As a result, the high adoption of immunotherapy drugs among old age people is driving the immunotherapy drugs market growth globally.
Report Highlights:
- Based on the drug type, the monoclonal antibodiessegment dominated the global immunotherapy drugs market in 2020 with largest market share. The use of monoclonal antibodies entails in the low side effects on the human body. In addition, rising incidents of target disorders combined with rising usage of personalized medicine will boost the growth of the segment.
- On the basis of therapeutic area, the cancersegment holds the largest market share the global immunotherapy drugs market in 2020. The growing prevalence of the cancer is contributing towards the growth of the segment. According to American Institute for Cancer Research, in 2020, there were around 18.1 million of cancer cases globally. Out of which 9.3 million cases were of men and 8.8 cases were of women.
- North America is the largest segment for immunotherapy drugs market in terms of region. This is attributed to the growing prevalence of targeted diseases and surge in the number of approvals from the U.S. Food and Drug Administration (FDA).
- Asia-Pacific region is the fastest growing region in the immunotherapy drugs market.This is due to surge in the demand for safer cancer therapies and the growing adoption of reimbursement policies.
Ask here for customization@ https://www.precedenceresearch.com/customization/1472
Future of Immunotherapy Drugs Market
The immunotherapy drugs market is growing due to the rising demand for targeted therapeutics. The targeted therapies are mostly carried out for the treatment and detection of cancer among people. As per National Cancer Institute, the U.S. registered 1,806,590 new cancer cases in 2020. The lung and bronchus cancer, breast cancer, colon and rectum cancer, prostate cancer, non-Hodgkin lymphoma, skin melanoma, bladder cancer, leukemia, endometrial cancer, thyroid cancer, liver cancer, and pancreatic cancer are the most frequent cancers. Thus, the growing incidents of cancer is expected to create growth prospects for the global immunotherapy drugs market in coming years.
COVID-19 Impact Analysis:
- There was a dramatical change in the healthcare and medical sectors due to the COVID-19 outbreak.
- But the impact of the pandemic on the global immunotherapy drugs market was quite positive.
- The reason being the key market players started developing vaccines and immunotherapy drugs on a large scale globally.
- In addition, the immunotherapy drugs is also used to stimulate the immune of the body, which had increased the profit for the immunotherapy drugs market players in 2020.
Key Developments in the Marketplace:
- Novartis International AG opened a cell and gene therapy manufacturing plant in Stein, Switzerland in 2019.
- Durvalumab in combination with etoposide and either carboplatin or cisplatin was approved by the FDA in March 2020 as an initial treatment for patients with advanced stage small cell lung cancer.
- Amgen released KANJINTI and MVASI in the U.S. in 2019. These are immunotherapy drugs.
- The mixture of erlotinib and ramucirumab was authorized by the FDA in May 2020 for the treatment of lung cancer patients with EGFR exon 19 or exon 21 mutations.
- Humanigen Inc. and Gilead Sciences Inc. teamed up in 2019 to perform a study of lenzilumab in combination with YESCARTA in patients with relapsed diffuse large B cell lymphoma.
Some of the prominent players in the global immunotherapy drugs market include:
- F. Hoffmann-La Roche AG
- GlaxoSmithKline plc.
- AbbVie, Inc.
- Amgen, Inc.
- Merck & Co., Inc.
- Alligator Bioscience
- UbiVac
- Bristol-Myers Squibb
- Novartis International AG
- AstraZeneca plc
Market Segmentation
By Drug Type
- Monoclonal Antibodies
- Vaccines
- Interleukins
- Interferons Alpha & Beta
- Others
By Therapeutic Area
- Cancer
- Infectious Diseases
- Autoimmune & Inflammatory Diseases
- Others
By Geography
- North America
- Europe
- Asia Pacific
- MEA
- Rest of the World
Click Here to View Full Report Table of Contents
Buy this Research Report@ https://www.precedenceresearch.com/checkout/1472
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333