Immuno-oncology drugs target key pathways of the immune system to help the body naturally fight cancer. These drugs help T cells and other immune system cells identify and attack cancer cells more effectively. Targeted immunotherapies such as immune checkpoint inhibitors, cancer vaccines, and cellular therapies have shown promising results in the treatment of various cancers including melanoma, lung cancer and lymphoma.
The global Immuno-Oncology Drugs Market is estimated to be valued at US$ 1020.24 Bn in 2023 and is expected to exhibit a CAGR of 33.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Combination therapies have emerged as a key trend in the immuno-oncology drugs market. Combining immunotherapies that target different mechanisms has shown benefits over monotherapy in clinical trials. For example, combining immune checkpoint inhibitors like anti-PD-1 and anti-CTLA-4 drugs helps counter the immune resistance pathways of cancer more effectively. Combining immunotherapies with other anticancer therapies such as chemotherapy, targeted therapy and radiation therapy is also gaining popularity. The synergies created improve efficacy and help overcome resistance. Major players are focusing on developing combination regimens of immuno-oncology drugs for conditions where monotherapies have limitations. This is expected to further drive the adoption of immuno-oncology drugs during the forecast period.
Segment Analysis
The global immuno-oncology drugs market is dominated by the monoclonal antibody segment. Monoclonal antibodies act as checkpoint inhibitors that help enhance the immune system's natural antitumor responses and have emerged as a promising treatment approach. Checkpoint inhibitors target immune checkpoints such as CTLA-4, PD-1, and PD-L1 that are present on certain types of immune cells including T-cells, B-cells, and macrophages. By blocking these immune checkpoints, the antibodies help boost the body's antitumor immune response. The use of monoclonal antibodies against immune checkpoints has achieved major success in clinical practice to treat various cancers.
Key Takeaways
The global Immuno-Oncology Drugs Market Share is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: The North American region currently dominates the global market due to the early adoption of advanced cancer therapies and presence of major market players in the region. However, the Asia Pacific region is expected to grow at the fastest rate due to improving access to healthcare facilities, rising awareness about cancer treatment options, and growing focus of international players in countries such as China and India.
Key players: Key players operating in the immuno-oncology drugs market are IBM Corporation (US), Oracle Corporation (US), Xerox Corporation (US), Nintex Limited (US), Source Code Technology Holdings Inc (US), Software AG (Germany), Appian (US), Pegasystems (US), Bizagi (UK), Newgen Software Technology, and Zoho. The market players are focusing on new product launches, acquisitions, and collaborations to expand their product portfolios and geographic presence. For instance, in March 2022, Oracle Corporation launched Oracle Cloud Infrastructure Observability and Management services to help customers monitor cloud environments.
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