Immunotherapy Drugs Market Size Is Projected to Grow at a CAGR of 8.9% By 2023

Immunotherapy Drugs Market Size Is Projected to Grow at a CAGR of 8.9% By 2023

“Immunotherapy Drugs Market”
Immunotherapy Drugs Market Analysis By Size, Share, Key Players, Trends, Insights, Dynamics, Future Outlook, Applications and Segmentation, Forecast to 2023

Immunotherapy Drugs Market Trends and Growth Analysis By Type (Implant Reconstruction, Autologous Or Flap Reconstruction), Product Type (Silicone, Saline) End User (Hospitals & Clinics, Ambulatory Surgical Centers), Global Forecast to 2023

Global Immunotherapy Drugs Market Size is projected to garner a CAGR of over 8.9% over the assessment period (2018-2023), says Market Research Future (MRFR). Immunotherapy drugs either amplify or suppress the immune system 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.

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.

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Immunotherapy Drugs Market Segmentation

Immunotherapy Drugs Market is segmented by therapy area, type of drugs, end user and region

By Therapy Area, the immunotherapy drugs market is segmented into Cancer, Autoimmune & Inflammatory Diseases, Infectious Diseases among others.

By Type of Drugs, the immunotherapy drugs market is segmented into Monoclonal Antibodies, Adult Vaccines, Checkpoint Inhibitors, Interferons Alpha & Beta, Interleukins and Others.

By End User, the immunotherapy drugs market is segmented into Hospitals & Clinics, Ambulatory Surgical Centres and Others.

By Regions, the immunotherapy drugs market is segmented into North America, Europe, Asia Pacific, and the Rest-of-the-World.

Immunotherapy Drugs Market Regional Analysis

North America dominates the global immunotherapy drugs 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 commercialization 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.

Immunotherapy Drugs Market Competitive Landscape

The immunotherapy drugs market is consolidated owing to the high research and technology intensity. Manufacturers are entering in collaboration and partnerships so as to reduce the high cost of development. Sharing of proprietary technology and resources also mitigates the risk of development and assures benefits of the other players innovative manufacturing techniques.

Companies are also partnering with large research institutes and universities so as to gain access to expertise. They are also investing in R&D activities and state of the art laboratories. Partnership with government organizations to gain access to public research funds is another viable option being used.

Major Players:

Players leading the global immunotherapy drugs market 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.

Industry/ Innovation/ Related News:

Durvalumab indicated for unresectable stage III non-small cell lung cancer (NSCLC) which has not progressed to platinum-based chemotherapy and radiation therapy was approved by the Food and Drug Administration. The FDA granted the approval under its planned interim analysis of progression-free survival (PFS) study. The recommended dosage regimen for durvalumab is 10 mg/kg intravenous infusion for 60 minutes every two weeks.

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