In this Immunotherapy Drugs Market report, thorough investment analysis is made available to businesses which forecasts imminent opportunities for the market players and develops the strategies to enhance return on investment (ROI). This market report focuses on essential aspects of the market that include but are not limited to historic data, present market trends, environment, technological innovation, upcoming technologies, and the technical progress in the related industry.
Immunotherapy Drugs Market, By Drug Type (Monoclonal Antibodies, Immunomodulators), By Indication (Infectious Diseases, Cancer) and by Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Immunotherapy Drugs Market Overview
The global Immunotherapy Drugs Market size is projected to reach a CAGR of 11.7% from 2023-2030.
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Immunotherapy drugs are used to enhance or suppress the immune system of the body. They are mostly used in the treatment of cancer and act by stimulating the immune system of the body and generating an immune response aiding the production of antibodies. Antibodies produced against antigens kill the cancerous or tumour cells.
The global immunotherapy market is driven by the increasing adoption of targeted therapies, the increase in the life span of patients, and the high prevalence of lifestyle diseases. Furthermore, rapid approval of drugs and reduction in the recurrence of diseases propel market growth. Additionally, immunotherapy as an alternative to chemotherapy and the use of immunotherapy as the first line of drug for the treatment of cancer provide growth opportunities for the market players shortly.
On the other hand, the high cost of immunotherapy treatment and higher attrition rate in the product development cycle impede market growth.
COVID-19 had a positive impact on the immunotherapy drugs market. Because several businesses are actively engaged in creating immunotherapy-based medications or vaccines for COVID-19, the influence of COVID-19 on the immunotherapy drugs industry is positive. BioNTech SE is now undertaking phase III clinical research in healthy volunteers to examine the safety, tolerability, and immunogenicity of BNT162b2 against COVID-19 in partnership with Pfizer Inc.
Delvens Industry Expert's Standpoint
The global immunotherapy drugs market is anticipated to grow owing to the increasing R&D activities aimed at developing novel immunotherapies for various chronic diseases. The market is expected to grow during the forecast period due to the rising demand for these drugs.
However, the high cost of immunotherapy treatment and the high attrition rate in the product development cycle may impede the growth of the market. Despite this, the market is expected to experience significant growth in the coming years, driven by factors such as increasing investments in R&D, growing awareness among patients about the benefits of immunotherapy, and the development of more cost-effective treatment options.
Immunotherapy Drugs Market Key Findings
· Immunotherapy drugs are used to enhance or suppress the immune system of the body. They are mostly used in the treatment of cancer and act by stimulating the immune system of the body and generating an immune response aiding the production of antibodies. Antibodies produced against antigens kill the cancerous or tumour cells.
· The indication segment is further fragmented into Cancer, Autoimmune Diseases, Infectious Diseases, and Others. The cancer segment accounted for the largest revenue share owing to the increased prevalence of cancer, coupled with a rise in the launch of cancer immunotherapies.
· The drug type segment is further fragmented into monoclonal antibodies, immunomodulators, and vaccines. The monoclonal antibodies segment accounted for the largest share owing to increased R&D in therapeutic monoclonal antibodies coupled with supportive government initiatives.
· The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America dominated the global industry and accounted for the largest share of the overall revenue. The launch and regulatory approval of new immunotherapy drugs and favourable reimbursement policies are projected to aid in the region’s growth.
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Immunotherapy Drugs Market Regional Analysis
North America to Dominate the Market
· North America dominated the global industry and accounted for the largest share of the overall revenue.
· The launch and regulatory approval of new immunotherapy drugs and favourable reimbursement policies are projected to aid in the region’s growth.
Immunotherapy Drugs Market Competitive Landscape
· Amgen, Inc.
· Novartis AG
· AbbVie, Inc.
· Pfizer, Inc.
· F. Hoffmann-La Roche Ltd.
· Johnson & Johnson Services, Inc.
· AstraZeneca
· GSK
· Sanofi
· Bayer AG
Recent Developments in the Immunotherapy Drugs Market
· August 29, 2022 - AbbVie Showcases New Analyses and Real-World Data Across Multiple Immune-Mediated Skin Diseases at the European Academy of Dermatology and Venereology (EADV).
· August 24, 2022 - AbbVie announced that the U.S. Food and Drug Administration (FDA) approved the use of IMBRUVICA® (ibrutinib) for the treatment of paediatric patients one year and older with chronic graft versus host disease (cGVHD) after the failure of one or more lines of systemic therapy.
Reasons to Acquire Immunotherapy Drugs Market
· Increase your understanding of the market for identifying the most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors.
· Gain authentic and granular data access for Immunotherapy Drugs Market to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
Frequently Asked Questions
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