Immunotherapy Drugs market Overview:
Immunotherapy drugs either amplify or suppress the immune system so as to fight diseases or avoid rejection of graft by the body. Immunotherapies which elicit and suppress the immune system are referred to as activation immunotherapies and suppression immunotherapies respectively. The global immunotherapy drugs market is project to experience a growth cliff owing to their application expanse in diseases such as cancer and the large investments made in research and development.
According to Market Research Future (MRFR), the global immunotherapy drugs market is expected to garner a CAGR of over 8.9% over the assessment period (2018-2023).
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Cancer is the leading area of application of immunotherapy drugs. According to U.S. Department of Health and Human Services, 735,350 newer cases and 609,640 deaths are expected to occur owing to cancer in the U.S. in 2018. The incidence of cancer in 2018 was 439.2 per 100,000 people while the mortality rate is 163.5 per 100,000 people in the U.S. To have an idea of the patient pool, there are almost 15.5 million cancer survivors in the U.S. in 2018, which is expected to rise to 20.3 million by 2026. Thus, a large market exists which needs to be tapped.
New product development is the prime strategy employed by firms. There is a large ongoing research as exemplified by the 2018 Nobel prize for Medicine being awarded for the discovery of cancer treatment through inhibition of negative immune regulation. The growing FDA approvals is another driver of the market. The FDA has approved immunotherapy drugs such as Alemtuzumab, Rituximab, Durvalumab, Ipilimumab and others. However, the lack of scientific studies validating the activity of these drugs coupled with the severe toxicity profile of these drugs such as myelosuppression is hampering the market.
Players leading the global Immunotherapy Drugs market Growth include Novartis International AG, Merck & Co., Inc., Hoffmann-La Roche AG, Eli Lilly and Company, GlaxoSmithKline, AbbVie, Inc., Amgen, Inc., Bristol-Myers Squibb, AstraZeneca plc Johnson & Johnson, among others.
Global Immunotherapy Drugs Market – Segments
The report is segmented into four dynamics to widen the scope of understanding,
By Therapy Area : Cancer, Autoimmune & Inflammatory Diseases, Infectious Diseases among others.
By Type of Drugs : Monoclonal Antibodies, Adult Vaccines, Checkpoint Inhibitors, Interferons Alpha & Beta, Interleukins and Others.
By End User : Hospitals & Clinics, Ambulatory Surgical Centres and Others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Immunotherapy Drugs Market – Regional Analysis
North America dominates the global immunotherapy drugs market with the largest market share, owing to large healthcare expenditure, large cancer patients and excellent healthcare infrastructure. The presence of large players in the developed regions market also favours the market for immunotherapy drugs. The growing cost of care is another reason for the market growth. According to the latest estimates, the national cancer care expenditures for U.S. are $147.3 billion, which is expected to rise owing to ageing population and increase in cancer prevalence.
The Europe immunotherapy drugs market is projected to grow owing to greater hospitalization rates, growing incidence and survivability rates of cancer. Germany, France and the U.K. account for the largest market share of the Europe immunotherapy drugs market.
The Asia Pacific immunotherapy drugs market is expected to grow at impressive rates owing to economic development and the shift of cancer towards the developing regions. The expanding pharma sector coupled with the shortening commercialisation times is expected to drive a large market over the study period.
The Middle East and Africa market is expected to be dominated by the wealthy Gulf states. However, the fall in oil process is a cause of concern. Saudi Arabia, UAE and Kuwait are expected to drive a large market.
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