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 Till 2023
The Global Immunotherapy Drugs Market size is expected to exhibit a CAGR of 8.9% over the forecast period from 2018 to 2023, according to Market Research Future (MRFR). Immunotherapy is a field of therapy that focuses on suppressing or energizing the body’s immune system in order to fight specific diseases. The body’s natural immune system contains the cells that can eliminate any disease. However, they still need to be activated or programmed in a certain way so that increasingly dangerous infections can be dealt with.
On the other hand, the growing threat of autoimmune diseases has also driven up the demand for immunosuppressive medication that can effectively counter autoimmune diseases. Solutions such as vaccines and interferons, among others, can help stabilize an immune system flagging in the face of an infection and restore normal operation, allowing the body to fight off the infection on its own.
The global immunotherapy drugs market is profiled in extensive detail in the report, which looks at the growth trends that have dominated the immunotherapy drugs market in the past and delivers studied forecasts for the market’s likely growth trajectory over the forecast period.
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.
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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