As per our research analysis, the size of the global immunotherapy drugs market is estimated to hold USD 83.52 billion in 2020 and forecasted to grow USD 137.59 billion by 2024 with a significant CAGR of 10.5% during the forecast period.
Immunotherapy is a biological therapy used for treating cancer patients. The global immunotherapy drugs market is driven by factors like the quick approval process of drugs, an increase in the adoption of targeted therapies, and a high rise in lifestyle diseases. Immunotherapy is a treatment done to restore or stimulate the ability of defence system (immune system) to fight infection and disease. Biological therapy which is also called as immune therapy is a form of treatment using the natural ability of body that constitute the immune system to fight against disease and also protects the body from other side effects. Immunotherapy always has a vital role in the process of treatment of vulnerable diseases.
COVID 19, which is termed after the novel virus corona, has the most significant demand for immune therapy drugs. As seen from the last few months, immunocompromised persons are one’s got effected more for this virus. Immunotherapy drugs help to fight with external foreign factors attacking the body. Immunotherapy drugs cover types of monoclonal antibodies, adult vaccines, checkpoint inhibitors, and Alpha and beta interleukins.
Growing prevalence of Cancer and accelerating aging population around the world are majorly increasing the demand for immunotherapy drugs.
According to the WHO, in 2016, nearly 1.75 million cancer patients are discovered in the U.S. only. According to the CDC, almost 1.5 million people are examined with cancer every year in the U.S. and more than lakhs of people are striving hard to survive due to cancer. One of the main factors that lead to lung cancer is smoking and consumption of alcohol, where 90% of men and 80% of women are suffering. Reports say that out of 6 patients, one patient die due to this cancer. The immunity system is made up of WBC, which helps the body to fight against the diseases and make the body stay healthy. There are different types of immunotherapies which are used for the treatment of cancer disease.
The U.S FDA has accepted 32 new drugs for different immunotherapies for the patients who are fighting with cancer like melanoma, breast cancer, lung cancer, kidney cancer, breast cancer etc. Immune-modulators, cell-based immunotherapies and vaccines are some of the treatments for cancer therapy.
Increase in options in the existing markets, and immunotherapy is another possibility to chemotherapy for the first-line treatment is the factors that support the growth of the Global Immunotherapy Drugs Market and also in the key players in the coming future. Next-generation treatment options offer the opportunity for new upcoming and improved techniques of anti-cancer therapy. Critical areas of possibility in this market include developing countries and growing adoption of immunotherapy.
The high cost of the treatment of immunotherapy and high reduction of strength and effectiveness, the rate of the product development cycle is hindering the market growth. Lack of knowing immunotherapy drugs and also overall costly treatment is restraining the market. Side effects of immunotherapy on another body are supposed to limit the growth of the global immunotherapy drugs market.
The challenge of immunotherapy is to improve the effectiveness and patient, responsive rates. Additional makers would help to find a way to challenges posed by tumour heterogeneity because of the probability of targeting more than one type of cell to recognize multiple types of antigens. The high cost of the products is one of the significant challenges to the Global Immunotherapy Drugs Market.
Market Size Available
2019 to 2025
2020 to 2025
By Drug Type, Application, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East and Africa
This research report on the global immunotherapy drugs market has been segmented and sub-segmented based on the by drug type, application, and region.
Immunotherapy Drugs Market - By Drug Type:
Based on drug type, Monoclonal antibodies are among the most in-demand models of immunotherapy drugs that are likely to register the highest growth rate in the coming years. The Monoclonal Antibodies segment is expected to have the most massive share market value. It is attributed to growing regular approvals and higher ability to produce the desired result. This segment has the largest share due to the growing amount of funds which is used for the research and development and also used for treating cancer patients. This segment has a CAGR value of 7.25% during the period.
Immunotherapy Drugs Market - By Application:
Based on the Application type, all kinds of Lung Cancer segment are accounted to hold the largest share in the market. The Application segment consists of the types of cancer in which the lung cancer holds the highest share sue to increase of lung cancer patients. Patients support these cancer treatments as they have very fewer side effects that can accelerate the growth of immunotherapy drugs market.
Immunotherapy Drugs Market - By Region:
The North American region is expected to have the largest share market and is likely to continue over the period. The largest share in this region is due to supportable reimbursement policies; increasing combining of research institutes and the companies is one of the reasons for the growth of this region.
Europe is followed by North America region and is likely to grow with is a short period during the period attributed due to adoption of advanced cancer therapeutics for the effective treatment.
The Asia-Pacific is likely to have faster growth in the upcoming years. It is due to the occurrence of the rapid development of healthcare technology, large patient population and large amount spent on healthcare, high disposable income, increase in health and hygiene associated with awareness.
Latin America is likely to have an average amount of growth due to the existing pharmaceutical manufacturers in this region. The increase in this region is due to the growing existence of major pharmaceutical producers in the countries of this region.
TOP COMPANIES IN THE MARKET
List of key market participants leading the global immunotherapy drugs market profiled in this report are Merck, Roche, Eli Lilly, Amgen, Novartis, Celgene, AstraZeneca, Bristol Myers Squibb, GlaxoSmithKline PLC and Seattle Genetics.
RECENT MARKET DEVELOPMENTS
On January 07, 2019, Alligator Biosciences announced the launch of a novel concept in bispecific antibody formats RUBY. The ability to give generative therapeutic antibodies that are both efficient and highly manufacturable.
On November 21, 2019, Myriad Genetics announced that Japan’s Health, Welfare, and Labor had approved the BRAS Analysis Diagnostic system that to help physicians determine which women with breast cancer and have Hereditary Breast and Ovarian Cancer syndrome.
On December 30, 2019, The US FDA approved AstraZeneca Lynparza and Myriad Genetics’ CDx for BRCA as a maintenance treatment for certain metastatic pancreatic cancer patients.
On November 11, 2019, Myriad Genetics presents new test Data in the Autoimmune system at Annual Meeting in Atlanta, GA.
On October 23, 2019, The U.S. FDA, expanded the approval for GSK’s as a fourth-or later line treatment option for the advanced ovarian, fallopian tube, or primary peritoneal cancer patients who have homologous recombination deficiency.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 By Drug Type
5.1.1 Monoclonal Antibodies
5.1.5 Checkpoint Inhibitors
5.2 By Application
5.2.1 Blood Cancer
5.2.2 Cervical Cancer
5.2.3 Breast Cancer
5.2.5 Lung Cancer
5.2.6 Gastric Cancer
5.2.7 Prostate Cancer
6.1 North America
6.1.2 United States
6.3.5 South Korea
6.4 Latin America
6.4.5 Rest of Latin America
6.5 Middle East & Africa
7.2 Pipeline Development Landscape
7.3 Molecular Targets in the Pipeline
7.4 Clinical Trials
7.4.1 Failure Rate by Stage of Development, Indication, Molecule Type and Molecular Target
7.4.2 Clinical Trial Duration by Stage of Development, Indication, Molecule Type and Molecular Target
7.4.3 Clinical Trial Size by Stage of Development, Indication, Molecule Type and Molecular Target.
8.1 PESTLE analysis
8.2 Porter’s Five analysis
8.2.1 Bargaining Power of Suppliers
8.2.2 Bargaining Power of Consumers
8.2.3 Threat of New Entrants
8.2.4 Threat of Substitute Products and Services
8.2.5 Competitive Rivalry within the Industry
9.1 Eli Lilly
9.1.2 Product Analysis
9.1.3 Financial analysis
9.1.4 Recent Developments
9.1.5 SWOT analysis
9.1.6 Analyst View
9.8 Bristol Myers Squibb
9.9 GlaxoSmithKline PLC
9.10 Seattle Genetics
10.1 Market share analysis
10.2 Merger and Acquisition Analysis
10.3 Agreements, collaborations and Joint Ventures
10.4 New Product Launches