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The Global Immunotherapy Drugs Market size is estimated to grow by USD 111.35 billion at a CAGR of 11.31% between 2023 and 2028. The increasing prevalence of cancer, driven by factors such as aging populations and lifestyle changes, is leading to a greater demand for cancer treatments and therapies. Growing investments in pharmaceutical technology, such as advancements in drug delivery systems and personalized medicine, are driving innovation in the industry and creating new opportunities for growth. Increasing awareness in patients, fueled by initiatives from healthcare organizations and advocacy groups, is leading to earlier detection and treatment of diseases, further driving market growth.
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The hospitals segment is estimated to witness significant growth during the forecast period. This segment plays an important role in the provision of health care services. Hospitals are the first point of entry for diagnosing, treating, and managing a wide range of diseases. In addition, they provide access to specialists and cutting-edge medical facilities. Furthermore, with the growing acceptance of immunotherapy as an innovative treatment, hospitals have become an essential part of the global market.
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The hospitals segment was the largest segment and was valued at USD 56.54 billion in 2018. Moreover, these work by stimulating an individual's immune system to recognize and kill cancer cells, providing a more targeted and potentially more successful treatment. In addition, hospitals are leading the way in adding this to their treatment plans, making sure patients get the best care possible. Furthermore, they support clinical trials, research, and development efforts which is fuelling the growth of this segment which in turn drives the immunotherapy drug market growth.
The presence of the monoclonal antibodies segment has fuelled the growth of the global market. In addition, these antibodies, which are created in laboratories, are designed to bind to and target specific proteins that are present in cancer cells and immune cells. In addition, this selective approach has enabled them to be highly effective in the treatment of a variety of cancers and autoimmune conditions. Furthermore, the monoclonal antibody drug development and approval have seen a dramatic increase in recent years, reflecting the growing prevalence and efficacy of this therapy. Hence, such factors are fuelling the growth of this segment which in turn will drive the market during the forecast period.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Some of the main factors that are fuelling the growth of the market in North America include the increasing prevalence of various types of diseases and allergies such as cancer and tuberculosis in the region. In addition, food allergies contribute to a high share of the investments in the immunotherapy market in the region. For example, according to 2021 data from Food Allergy Research and Education (FARE), 32 million people in the US suffer from food allergies. Each year, 200,000 people in the US require emergency medical care due to food allergies. Furthermore, besides allergies, cancer contributes to a large part of the investment of research. Hence, such factors are driving the market in North America during the forecast period.
In recent years, significant immunotherapy advancements have reshaped cancer treatment paradigms, with promising results emerging from ongoing clinical trials. While treatment efficacy is a primary focus, managing side effects remains a crucial consideration in optimizing patient outcomes. Moreover, navigating regulatory approvals and addressing market competition are essential for ensuring the widespread availability and affordability of these therapies. Ensuring equitable patient access to innovative treatments is paramount, facilitating broader adoption and improving overall cancer care.
There is a significant expansion of the global market due to the prevalence of cancer, which has become a major contributor to global mortality. Moreover, the number of cancer-related deaths is increasing rapidly. The global market for immunotherapy is also gaining popularity due to the numerous benefits it offers compared to conventional treatments like chemotherapy or radiotherapy. This includes the use of monoclonal antibodies, biosimilars, personalized medicines, and nanoparticles, which can lead to life line curves and improved patient outcomes. Studies have shown that immunotherapies are more effective, yield better patient outcomes, and result in fewer adverse reactions. These factors are contributing positively to the market's growth.
A key factor shaping the market is the emerging drug development techniques. There are significant advances in immunotherapy drug development which are helping pharmaceutical companies to develop more efficient immunotherapies for the treatment of various diseases. For example, SPIRE immunotherapy is one of the most advanced technologies to treat diseases and is currently being used by various pharmaceutical companies.
Moreover, it uses the MicronJet system and helps in maximizing the immune response of the drug. In addition, the popularity of this technology has been growing due to its ease of use and compatibility. Furthermore, this technology is designed to treat various diseases like allergies, such as cat allergy (Cat-SPIRE), HDM allergy (HDM-SPIRE), grass pollen allergy (Grass-SPIRE), and ragweed pollen allergy (Ragweed-SPIRE). Hence, such factors are driving the market during the forecast period.
The high cost associated with immunotherapy drugs is one of the key challenges hindering the market. One of the major impediments to the availability and affordability of these is their high cost of developing, manufacturing, and marketing. In addition, the main reason is that immunotherapy drugs require extensive clinical research and development, costly manufacturing procedures, and rigorous regulatory approval, all of which contribute to their higher prices.
Moreover, the complexity of immunotherapy medications and their tailored treatment regimen further increase the overall expense. For example, CAR-T cell therapies necessitate the extraction, alteration, and re-fusion of the patient's own immune system, thus adding to the already considerable costs. Hence, such factors are negatively impacting the market which in turn hinders the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
AbbVie Inc: The company offers Actonel, Acular, Alloderm and others.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market experiences growth spurred by advancements in cancer immunotherapy, addressing chronic diseases like diabetes. Companies like Biomunex Pharmaceuticals pioneer immunotherapy drug candidates, especially for hematological malignancies. Innovations include CAR T-cell therapy and therapeutic monoclonal antibodies, such as Dupixent for plaque psoriasis. Challenges persist, including high attrition rates and the high cost of immunotherapy treatment, motivating Vir Biotechnology and others to develop biosimilar drugs and targeted therapies. With ongoing developments in mRNA-based vaccines and anti-cancer drug prices, the market sees a surge in new product developments aimed at combating various oncology indications and lifestyle disorders.
Furthermore, the market witnesses transformative advances, addressing diverse ailments from cancer to autoimmune diseases like rheumatoid arthritis and Crohn’s disease. Breakthroughs include BiXAR technology and targeted therapies like anti-PD-1 therapy for urothelial carcinoma. Monoclonal antibody treatments, such as Dupixent for prurigo nodularis, redefine care standards. Imugene leads in cancer therapies, targeting lung cancer and melanoma. Challenges persist, from the product development cycle to combating newly diagnosed cancer cases. However, advancements like HIV mRNA-based vaccines and TCRs offer promising avenues. With a focus on cutting-edge treatments and tackling various cancer types, the market promises continued evolution and innovation.
Additionally, the market pioneers cancer immunotherapies like targeted therapy and advanced immunotherapies for various cancers, including cervical cancer treatment. With breakthrough drugs like Dupixent and Olumiant, it also tackles autoimmune and inflammatory diseases. This burgeoning market addresses kidney failure and heart diseases through innovative immunomodulators. From lymphoma to non-small cell lung cancer, immunotherapy revolutionizes cancer treatment, offering hope for patients worldwide.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Immunotherapy Drugs Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.31% |
Market Growth 2024-2028 |
USD 111.35 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.24 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 43% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Amgen Inc., AstraZeneca Plc, Bayer AG, BioNTech SE, Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Celldex Therapeutics Inc., F. Hoffmann La Roche Ltd., Gilead Sciences Inc., GlaxoSmithKline Plc, Immatics NV, Incyte Corp., Johnson and Johnson, Novartis AG, Pfizer Inc., Sanofi SA, Teva Pharmaceutical Industries Ltd., ElevateBio, and Genmab AS |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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