Immunotherapy Drugs Market Insights: The Key to Unlocking Market Dynamics and Opportunities
Category - Healthcare
Report Code - OMR-H-140
Format: PDF, PPT, and Excel
Immunotherapy Drugs Market to Grow with a CAGR of 10.9% During 2023-2030; Market to Expand Due to Contributing Factors Such as Increasing Awareness Among the General Population
Immunotherapy is any cancer treatment employing the patient's immune system. Immunotherapy can activate or retrain the immune system, allowing it to find and eliminate cancer cells more effectively. Immunotherapy drugs can be used to treat several forms of cancer. Immunotherapy can be administered alone or with chemotherapy or other cancer therapies. The market is propelled primarily by the increasing prevalence of chronic diseases worldwide.
COVID-19 positively affected the immunotherapy pharmaceuticals industry since the unexpected pandemic outbreak enhanced the demand for immunotherapy medications for the treatment of COVID-19 due to their safety and efficacy.
Key Takeaways of Immunotherapy Drugs Market
By Type
The monoclonal antibodies market is projected to expand at the highest rate over the forecast period. Government initiatives and increased research and development of therapeutic monoclonal antibodies are attributed to propelling the business ahead. It may treat cancer using monoclonal antibody-mediated immunotherapy without hurting healthy cells.
By Region
North America is anticipated to demonstrate substantial dominance throughout the projection period. This is due to the region's increasing elderly population, growing cancer incidence rates, and a greater desire for and utilization of immunotherapy. In addition, a highly developed healthcare infrastructure and several prominent biopharmaceutical companies have significantly contributed to the market's growth.
Growing Prevalence of Cancer Will Boost Market Expansion
The market for immunotherapy medications is anticipated to expand at a rate proportional to the incidence of chronic illnesses like cancer. Immunotherapy is a cancer treatment that enhances the immune system's ability to fight cancer. Immunotherapy medications aid in preventing, controlling, and eradicating cancer. Breast cancer accounts for one in four malignancies diagnosed in women worldwide. Hence, as cancer incidence rises, so does the need for immunotherapy medications.
Increasing Demand for Biosimilars is Driving Market Potential
A biosimilar is a replica of a well-established biologic medication. Many immunotherapy medications are used to treat cancer; several biosimilars have also been licensed for cancer treatment. In the future, the increased popularity of biosimilars due to FDA and EMA approvals for some biosimilar medications is anticipated to be a key element in the market's growth. As of May 2021, the Food and Drug Administration (FDA) has authorized 14 oncology biosimilars in the United States, while the European Union (EU) has approved 39 cancer-treating biosimilars.
Global Immunotherapy Drugs Market Prominent Players
• Novartis AG (Switzerland)
• Pfizer Inc. (U.S.)
• AbbVie Inc. (U.S.)
• AstraZeneca (UK)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Amgen Inc. (U.S.)
• Johnson & Johnson Services, Inc. (U.S.)
• Bayer AG (Germany)
• GSK plc. (U.S.)
• Sanofi (France)
Report Scope for Immunotherapy Drugs Market
Type
• Monoclonal Antibodies
• Checkpoint Inhibitors
• Vaccines
• Interferons & Interleukins
• Others
Indication
• Cancer
• Autoimmune Diseases & Inflammatory Diseases
• Infectious Diseases
• Others
Immunotherapy Drugs Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
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