The size of the Immunotherapy Drugs Market in North America was valued at USD 52.35 billion in 2023 and is calculated to reach USD 84.69 billion by 2028, growing at a CAGR of 10.1% during the forecast period.
With the rising incidences of cancer cases and autoimmune diseases, there has been an increasing demand for immunotherapy drugs and is likely to have a positive outlook for its market in the forecast period. Immunotherapy is a type of treatment for cancer which enhances the immune system to fight against cancer. Immunotherapies either stimulate the activity done by a particular component of the immune system or counteract the immune system produced by the cancer cells suppressing the immune responses.
With the evolution of innovation and technology, increasing prevalence of cancer and autoimmune diseases, immunotherapy drugs are expected to gain significance in the future. Other driving factors for the immunotherapy drugs include rising incidences of diseases, higher efficiency than the standard drugs, acceleration in the development and review of new drugs.
However, the market is dampened by the high costs involving immunotherapy drugs and limited access to the lower and middle-income groups.
This research report on the North America Immunotherapy Drugs Market has been segmented and sub-segmented into the following categories.
Based on the region, North America is currently the leading market with most of the share and is likely to sustain in the review period. It is attributed to the higher incidences of cancer and infectious diseases coupled with high affordability and well-structured reimbursement plans. North America was dominated by the global immunotherapy drugs market in 2019 and is expected to dominate the market due to the growing occurrence rate of cancer cases and autoimmune diseases. Growing demand for immunotherapy drugs has a positive outlook on the market. Key players are coming up with initiatives in manufacturing medicines for cancer and increasing expenditure on healthcare by the government.
The U.S. immunotherapy drugs market is dominating the North American market. In the U.S., breast cancer, lung, bronchus, and others are the most commonly occurring cancers. It is estimated that 1,685 210 new cancer cases were diagnosed, and around 595,690 deaths occurred due to cancer, according to the National Cancer Institute in 2016.
The Canadian immunotherapy drugs market is next to the U.S. in accounting for the highest share in the North American market due to infectious diseases incorporated with high affordability and well-structured reimbursement plans. Growth in the biotechnology and pharmaceutical industries, rising elderly people population, and increasing healthcare expenditure will accelerate the immunotherapy drugs market growth of this region.
Promising Companies dominating the North America 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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