The new report by Expert Market Research titled, 'Global Immunotherapy Drugs Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027', gives an in-depth analysis of the global immunotherapy drugs market, assessing the market based on its segments like types, therapy areas, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 179.6 Billion
• Forecast CAGR (2022-2027): 11.20%
• Forecast Market Size (2027): USD 339.6 Billion
The rising incidences of cancer diseases worldwide owing to the changing lifestyle and genetics are driving the immunotherapy drugs industry. The growing adoption of immunotherapy over other conventional treatment options is also contributing to the steady growth of the market. The expanding hospital infrastructure and advanced treatment options are also playing a critical role in the incremental development of the market. The combination of immunotherapy with nanomedicine and the effectiveness of nanomedicine-based cancer immunotherapies is further bolstering the industry. The ongoing pandemic is also invigorating the immunotherapy drugs industry as there are initiatives taken to design immune-based treatments that improve the immune response against the virus. All these factors are significantly catalysing the market growth.
Industry Definition and Major Segments
Immunotherapy, also called immune oncology, is a treatment that uses the body's immune system to fight, prevent, and eliminate cancer or tumour cells. Immunotherapy offers the body extra components that enhance the immune response. It educates the immune system to identify and attack cancerous cells. They are prescribed by oncologists worldwide to cancer patients. The drug used in immunotherapy is called immunotherapy drugs.
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The immunotherapy drugs industry, by type, is segmented into:
• Monoclonal Antibodies
• Interferons Alpha and Beta
Based on therapy area, the market is categorised into:
• Autoimmune and Inflammatory Diseases
• Infectious Diseases
The regional markets of immunotherapy drugs include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The government schemes that provide financial assistance to cancer patients is bolstering the immunotherapy drugs industry. For instance, the Ministry of Health and Family Welfare, Government of India under the Health Minister's Cancer Patients Fund is offering to poor patients out of the 100-crore corpus amount set for this purpose. The launch of clinical trials and research activities to use immunotherapy drugs in diseases other than cancer and patients with both cancer and autoimmune diseases such as rheumatoid arthritis, lupus, or multiple sclerosis are further propelling the market. The growing investments by biotechnology companies in immune oncology are expected to augment the immunotherapy drugs industry in the forecast period.
Key Market Players
The major players in the market are AbbVie Inc., Amgen Inc., AstraZeneca PLC, GlaxoSmithKline PLC, and F. Hoffmann-La Roche AG, among others.The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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