2022-2088 is the forecast period in the market report.
Immunotherapy drugs are used to boost or weaken the body's immune system. They are mainly used to treat cancer and work by stimulating the body's immune system and triggering an immunological response that helps produce antibodies. Antibodies, made in response to an antigen, kill malignant or tumor cells.
Several types of immunotherapy work with different mechanisms. Several immunotherapy treatments can prevent the growth of cancer cells. Other therapies help the immune system eliminate cancer cells and help keep the body from spreading to other parts of the body. Immunotherapy treatments can be used alone or in combination with other cancer treatments. These drugs are used to improve the immune system of the body. This is also used in other therapies, but mainly for cancer treatments. The antibodies produced against the antigens kill cancer cells or cancer cells. Several factors, like the increase in prevalence of chronic diseases and the rise in adoption of biosimilars, are expected to drive the growth of the market, and some of them are leading to the adoption of increasingly targeted therapies and the improvement of people's longevity. These are some of the key elements of the market. The rise in the number of cancer patients and the continuous evaluation of safety and quality are expected to boost the growth of the market as well as provide new growth opportunities over the estimated time period.
The market is mainly driven by the increasing incidence of chronic diseases in the world. Major chronic diseases include cancer, kidney failure, autoimmune and inflammatory diseases, and heart disease. For example, according to Versus Arthritis, it was estimated in 2019 that more than 18% of people aged over 45 in England suffered from osteoarthritis of the knee. The International Diabetes Federation said that approximately 537 million people aged 20 to 79 had diabetes in 2021. Moreover, this number is expected to increase to 783 million by 2045. Major players in the industry are focusing on developing new products and entering into strategic partnerships to advance research on immunotherapy drugs. Furthermore, the high adoption of biosimilars in immunotherapy is expected to drive the growth of the market over the projected time period. In addition, factors such as growing research collaborations, the growing number of research laboratories, and increasing direct and indirect investment in research and development (R&D) by pharmaceutical and biotech companies are also anticipated to support market growth in the coming years.
The market is expected to have new opportunities with the technological advancements and ongoing R&D involved in the manufacturing of Immunotherapy drugs. This is expected to provide ample new growth opportunities for the market during the forecast period. Also, factors such as the rise in the number of research collaborations, the growing number of research laboratories, and the increasing direct and indirect investments in research and development (R&D) by pharmaceutical and biotech companies are expected to provide increasing new growth opportunities for the market over the forecast period.
The market has major restraining factors like the high cost of manufacturing the drugs used in the treatment, and also the side effects related to immunotherapy such as diarrhoea, breathing issues, organ inflammation etc., is expected to act as a hurdler for the market’s growth over the forecast period.
The COVID-19 pandemic has impacted the growth of the market to a moderate extent, which has created some challenges for the market’s growth. Also, high attrition rates and high costs associated with immunotherapy treatments are factors that are expected to hamper the growth of the industry. In addition, the lack of a skilled work force is expected to be a major challenge for the market’s growth over the forecast period.
The report provides an in-depth analysis of the global Immunotherapy Drugs market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for various Immunotherapy Drugs in various applications like cancer and leukemia has led to the increasing demand for the market and is expected to witness growth at a specific CAGR from 2021-2028.
The global Immunotherapy Drugs market comprises of different market segments like type, therapy type, end users and geography.
By type, the Immunotherapy Drugs market includes the key segments of
The monoclonal antibody segment is expected to account for the largest share of the market over the forecast period. This large share can be attributed to their high specificity and the decrease in side effects, the increasing attention paid to personalized drugs, the initiatives of industry players, as well as the increase in the incidence of target diseases and the increase in the number of patients.
The growth of the segment is also driven by increased research and development in therapeutic monoclonal antibodies coupled with supportive government initiatives. The vaccines segment is expected to register the fastest CAGR during the forecast period. The growth of this segment is due to strategic collaborations between key players and an increase in clinical trials for vaccine development.
By therapy type, the Immunotherapy Drugs market is segmented into
Cancer is expected to account for the largest share of the global immunotherapies market by therapeutic area over the forecast period. The large share of this segment can be attributed to the growing prevalence of cancer, increasing research activities in this area, and reimbursement of immunotherapy in oncology.
On the other hand, the autoimmune disease segment is expected to register the fastest growth rate during the forecast period. The growth of this segment is due to increasing cases of autoimmune diseases globally and regional approvals of immunotherapies. According to NCBI research, the estimated worldwide prevalence of rheumatoid arthritis is approximately 0.46% of the world's population.
The Immunotherapy Drugs market has major end users like
This hospitals and clinics segment is expected to grow at the highest CAGR during the forecast period. The large share of this segment is due to the increase in hospital spending on immunotherapy and the demand for advanced treatments, which are currently only offered by hospitals and multispecialty clinics.
Likewise, the ambulatory surgical centers segment is expected to grow at a moderately high rate during the estimated time period. There is a high demand for immunotherapy drugs with respect to various cancer surgery procedures. Also, ambulatory surgical centers provide a favourable reimbursement option. These factors are anticipated to contribute to healthy growth for the segment over the forecast period.
The global Immunotherapy Drugs market is studied for the following regions
North America is expected to hold the largest immunotherapy market share over the forecast period. The large share of this region in the global market can be attributed to the growing prevalence of cancer and autoimmune diseases, growing demand for therapies; safer cancer drugs, the increasing number of FDA approvals; and the introduction of favourable reimbursement policies.
The Asia-Pacific market is expected to witness the fastest growth over the forecast period. The rising prevalence of cancer in Asia, the increasing geriatric population, increasing investment in medical research, and well-developed healthcare infrastructure are some of the major growth factors in the region. Also, presence of developed economies like China, India, and Japan is further contributing to healthy growth in the market. Besides, increasing sales and distribution of market is expected to fuel the market. Also, Europe is likely to have growth at steady growth rate.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the global Immunotherapy Drugs market. In addition, a complete analysis of changes in the global Immunotherapy Drugs market expenditure, economic and international policies on the supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
Following the COVID-19 pandemic, the market was negatively impacted by the shortage and irregular supply of cancer immunotherapy products. This allows local producers to increase their presence on the market. Additionally, some biopharmaceutical companies, such as Merck & Co., Inc. and Eli Lilly and Company, experienced delays in clinical trials. For example, data from ClinicalTrials.gov showed that more than 200 interventional oncology studies were suspended in March and April 2020 due to the COVID-19 pandemic. Additionally, 60% of institutions in the United States and 86% in Europe enroll new patients at a lower rate. Globally, companies are focusing on drug or vaccine development, especially immunotherapy drugs for COVID-19, as immunotherapy is highly effective as it strengthens patients' immune systems. This should affect the growth of the market for a short period of time. As several companies are actively manufacturing immunotherapy drugs or vaccines for COVID-19, the immunotherapy drug industry is expected to have new growth opportunities in the upcoming years.
The competitive landscape analysis of Immunotherapy Drugs market is majorly focused on expanding the global growth of Immunotherapy Drugs with new product innovation, business expansion, and the increasing presence of the range of manufacturers operating in the immunotherapy drugs industry has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the required demand of consumer which is further contributing to healthy growth in the market.
The key players studied in market are
February 2022: The Janssen Pharmaceutical Companies of Johnson & Johnson announced that the U.S. Food and Drug Administration (FDA) had approved CARVYKTI (ciltacabtagene autoleucel; cilta-cel) for the treatment of adults with relapsed or refractory multiple myeloma (RRMM).
February 2021: Regeneron Pharmaceuticals Inc. has received US FDA approval for cemiplimab-rwlc (Libtayo) immunotherapy drug for first-line treatment for Non-small-cell lung carcinoma (NSCLC) patients with high PD-L1 expression and who are not eligible for surgery or chemoradiation.
By type, the Immunotherapy Drugs market includes the key segments of monoclonal antibodies, immunomodulators, vaccines, checkpoint inhibitors, interferons alpha and beta, interleukins and others. The monoclonal antibodies segment is expected to dominate the market over the forecast period. By therapy type, the Immunotherapy Drugs market is segmented into cancer, autoimmune diseases, infectious diseases, inflammatory diseases and others. Cancer is expected to account for the largest share of the global immunotherapies market by therapeutic area over the forecast period. The Immunotherapy Drugs market has major end users like hospitals and clinics, ambulatory surgical centers and others. This hospitals and clinics segment is expected to grow at the highest CAGR during the forecast period due to the increase in hospital spending on immunotherapy and the demand for advanced treatments which are currently only offered by hospitals and multispecialty clinics. The global Immunotherapy Drugs market is studied for the following regions: North America, Europe, Asia-Pacific and Rest of the World (RoW). The North American market is expected to hold the largest immunotherapy market share over the forecast period due to the increasing prevalence of cancer and autoimmune diseases, growing demand for therapies safer cancer drugs, the increasing number of FDA approvals and the introduction of favourable reimbursement policies.
|Market Sizing for Year:||2019-2028|
|Market Segment studied:|
|Market Players and its
F. Hoffmann-La Roche Ltd.
Johnson & Johnson Services, Inc.
Thermo Fisher Scientific
Lupin Pharmaceuticals, Inc.
Teva Pharmaceutical Industries Ltd.
Takeda Pharmaceutical Company Limited.
Bristol-Myers Squibb CompanyAllergan
FREQUENTLY ASKED QUESTIONS
What would be forecast period in the market report?
2022-2088 is the forecast period in the market report.
What are the drivers for Immunotherapy Drugs market?
The key driving factors of the market are increasing prevalence of chronic diseases and a high adoption of biosimilar drugs in immunotherapy.
Which region is gaining majority of market share during the forecast period (2022-2028)?
North America is expected to gain major market share during the forecast period (2022-2028).