Drastically rising incidences of cancer across the globe and increased demand for personalized treatment is driving the immunotherapy drugs industry.
According to a recent analysis by Emergen Research, the global immunotherapy drugs market size is forecast to exceed USD 365.57 Billion in terms of revenue from USD 154.40 Billion in 2019, delivering a CAGR of 12.1% through 2027. Rising incidences of lifestyle-related disorders and cancer globally are propelling immunotherapy drugs market growth.
Cancer has the second-highest mortality rate. In 2018, an estimated 9.6 million fatalities across the globe were a result of cancer. Every 1 in 6 mortalities is attributed to cancer worldwide. Several lifestyle disorders, such as hypertension, obesity, insomnia, diabetes, cancer, and others require intensive care. Increased patient preference for personalized treatment over conventional treatment is expected to foster immunotherapy drugs market size through 2027. Moreover, surging demand for monoclonal antibodies will stimulate immunotherapy drugs market trends in the upcoming years. However, a high attrition rate in the drug production process phase might restrain industry growth.
Key Highlights of Report
- On the basis of drug type, the monoclonal antibodies segment is expected to gain traction at a CAGR of 12.3% through 2027 due to advantages offered by monoclonal antibodies like high reproduction and adaptability.
- Based on therapeutics, the cancer segment is forecast to hold a major chunk of the immunotherapy drugs market share over the analysis period. The segmental growth is driven by a rise in incidences of cancer, a rise in funding for research activities in this field, and the availability of reimbursement for oncology immunotherapies.
- Based on end-use, the hospital segment is expected to account for a substantial revenue contribution on account of increasing spending on immunotherapy by hospitals with the growing requirement for innovative treatments.
- In the regional landscape, North America is forecast to contribute significantly towards the global immunotherapy drugs market revenue share through the forecast period on account of the rise in incidences of autoimmune disorders and cancer, increasing drug approvals from the FDA, major adoption of improved cancer therapies, and favorable reimbursement scenario for treatments.
- Key players contributing towards global immunotherapy drugs market share include F. Hoffmann-La Roche AG, Sanofi S.A., Merck & Co., Inc., BioNTech SE, AstraZeneca plc, Gilead Sciences, Inc., bluebird bio, Inc., Incyte Corporation, Bayer AG, and Genmab A/S, among others.
- These industry players are adopting several strategies, such as acquisitions, mergers, collaborations, new product development, and capacity expansion, thereby supporting the overall growth of the immunotherapy drugs market.
- Gilead Sciences, Inc. acquired Immunomedics, Inc. in September 2020. This acquisition is expected to expand Gilead’s product portfolio and help the firm build a broad and inclusive oncology pipeline.
Emergen Research has segmented the global immunotherapy drugs market based on drug type, therapeutic area, end-user, and region.
- Drug Type Outlook (Revenue, USD Billion; 2017–2027)
- Checkpoint Inhibitors
- Monoclonal Antibodies
- Interferons Alpha and Beta
- Therapeutic Area Outlook (Revenue, USD Billion; 2017–2027)
- Infectious Diseases
- Autoimmune & Inflammatory Diseases
- End-User Outlook (Revenue, USD Billion; 2017–2027)
- Research Centers
- Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/immunotherapy-drugs-market