The global Immunotherapy Drugs Market is estimated to be valued at US$ 234.85 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Immunotherapy drugs are used for treatment of various types of cancer such as kidney cancer, skin cancer, lymphoma and leukemia. These drugs help boost the body's natural defenses to fight cancer by modifying or amplifying the immune system response. The key immunotherapy drug types include monoclonal antibodies, checkpoint inhibitors, interleukins, interferons alpha and beta, and cancer vaccines. Advances in cancer immunotherapy have increased the understanding of complex immunological mechanisms that govern tumor response and helped address important mechanisms of resistance. This has enabled the development of immunotherapy with higher response rates and durable clinical benefits. The market is primarily driven by increasing incidence of various cancer types and greater acceptance of immunotherapy as a standard cancer treatment option.
Market key trends:
One of the key trends in the immunotherapy drugs market is the introduction of combination therapies. Combination of immunotherapy drugs with other treatment modalities such as chemotherapy, radiation therapy and targeted therapy is gaining popularity. This is because combination therapies provide synergistic anti-tumor activity by targeting different molecules and pathways. For example, combination of checkpoint inhibitor nivolumab with ipilimumab has significantly improved treatment outcomes for melanoma. Another trend is the ongoing research and development of novel immunotherapy drug classes such as cell therapies, oncolytic viruses and therapeutic cancer vaccines. These novel drug modalities aim to further enhance the potency and durability of tumor control through immunotherapy.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the market requires high capital investment and strong expertise in research and development which makes it difficult for new players to enter. However, supportive government regulations are encouraging companies to enter this market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of alternative drug suppliers and raw material manufacturers in the market. However, the suppliers have more bargaining power in terms of drug pricing.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of alternative treatment options and strong buying power of healthcare providers and patients. Buyers can bargain for price discounts and better services.
Threat of new substitutes: The threat of new substitutes is high as other novel therapeutic areas like gene therapy and cell therapy are emerging as substitutes for immunotherapy drugs. The cost-effectiveness of substitutes is also posing a threat.
Competitive rivalry: is intense among existing players due to increasing product diversity, strong competition to gain FDA approvals, and differential pricing strategies.
Key Takeaways
Global Immunotherapy Drugs Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence of cancer. The rising awareness regarding immunotherapy and growing demand for targeted therapies are further fueling the market growth.
Regional analysis
North America dominates the global immunotherapy drugs market and is expected to continue its dominance over the forecast period. This is attributed to the increasing cancer incidence, rising healthcare expenditure, presence of advanced healthcare infrastructure, and favorable reimbursement policies. The Asia Pacific market is expected to witness the fastest growth rate owing to the growing geriatric population, improving healthcare facilities, and increasing affordability.
Key players
Key players operating in the immunotherapy drugs market are F. Hoffmann-La Roche AG, Merck Group, Bristol Myers Squibb, GlaxoSmithKline, AstraZeneca, Novartis, Janssen Pharmaceuticals, among others. F. Hoffmann-La Roche AG dominates the market with its wide product portfolio and strong global presence. Merck Group is focusing on strategic acquisitions and partnerships to strengthen its market position.
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The body's immune system can recognize and attack cancer cells, but when those are able to overcome this assault, malignant tumors develop in patients.
New research led by investigators at Massachusetts General Hospital (MGH) uncovers some of the key factors that are needed for survival of immune cells in the battle against cancer.
The findings, published in Cell, point to potential therapeutic targets to tip the scales so that the immune system can effectively defeat aggressive cancers.
Cytotoxic T lymphocytes (CTL) are the cells that recognize and destroy cancer cells, and they're first activated in tumor-draining lymph nodes.
"Such signals, including the cytokine IL-15, enable CTLs to survive long enough to effectively eliminate cancer cells and, under ideal conditions, reject the tumors entirely."
Mempel and his colleagues also wondered how CTLs find their way into these survival niches.
