The Size of the Immunotherapy Drugs Market in the Middle East & Africa is valued at USD 6.67 billion in 2022 and is estimated to reach USD 10.62 billion by 2027, with a CAGR of 9.74% during the forecast period 2022 to 2027.
The proliferation of chronic diseases majorly drives the market in the region, monoclonal antibodies and biosimilars have been increasing, and the adoption of immunotherapy drugs has replaced conventional treatments. Also, rapid drug approval and a reduction in illness recurrence drive market growth. In addition, the market is growing at a fast pace due to the rise in cancer patients across the middle east African countries.
However, rising demand for monoclonal antibodies is estimated to uplift the market growth. On the other hand, the increasing advent of biologics is projected to propel market growth during the forecast period. Biologics are one of the fastest-growing therapeutic pharmaceuticals, significantly exceeding small-molecule drug manufacturing. In addition, increasing investment and funding activities by the various companies in the region are making collaborations to establish the number of research laboratories expected to uplift the market growth.
Furthermore, other factors such as diabetes, hypertension, depression, and obesity, and various lifestyle disorders and non-communicable diseases drive the market over the forecast period. However, the influence of COVID-19 on the immunotherapy pharmaceuticals industry has recently been favorable since several businesses are presently focusing on the development of COVID-19 immunotherapy-based medications or vaccines. Furthermore, according to a study published in the International Journal of General Medicine recently, mortality from many non-communicable diseases (NCDs) or chronic diseases continues to rise in the region, with a disproportionately more significant impact in low-middle income countries (LMIs), with chronic diseases accounting for significant deaths. Moreover, the demand for immunotherapy drugs is growing because the benefits provided are active or passive attack of drugs, high solubility bioavailability, and multifunctionality.
During the projection period, however, the high price of immunotherapy medications and the high rate of attrition in the production process phase are projected to stymie the MEA immunotherapy medicines market.
Middle East & Africa Immunotherapy Drugs Market has been segmented and sub-segmented into the following categories
By Drug Type:
The immunotherapy drugs market is expected to have the highest share during the forecast period. The market growth is attributed to the growing demand for novel technologies and the prevalence of cancer rates. However, lung cancer is projected to account for the largest share and dominate the coming years. The majority of immunotherapy medications are used to treat lung, breast, and prostate cancer.
Due to greater regulatory approvals and improved effectiveness, monoclonal antibodies became the most popular sector in this region. The developing countries such as Saudi Arabia, United Arab Emirates are introducing new molecules, the patients who have not responded to chemotherapy have benefited from the introduction of novel compounds.
Several new immunotherapeutic approaches, such as immunomodulators and CAR-T cell therapy, are being studied in the lab to see if they might improve cancer treatment. However, the government's favorable reimbursement policies and encouragement are influencing the market to grow in the United Arab Emirates.
Key Market Companies leading the Middle East & Africa Immunotherapy Drugs Market Profiled in the Report are Roche, Merck, Eli Lilly, Novartis, AstraZeneca, GlaxoSmithKline PLC, Amgen, Celgene, Bristol Myers Squibb, and Seattle Genetics.
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