Researchstore.biz launched a study titled “Global Immunotherapy Drugs Market By Type of Drugs (Monoclonal Antibodies, Adult Vaccines, Checkpoint Inhibitors, Interferons Alphaamp; Beta, Interleukins, Other), Therapy Area (Cancer, Autoimmuneand Inflammatory Diseases, Infectious Diseases, Other), End-User (Hospitals, Clinics, Other),Region (North America, Europe, Asia Pacific, South America and Middle East and Africa)” and Global Forecast 2018-2025.
The global immunotherapy drugs market is expected to grow from USD 132.59 Billion in 2017 to USD 385.46 Billion by 2025 at a CAGR of 14.27% during the forecast period from 2018-2025. Major drivers that fuel the growth of immunotherapy drugs market are:
- Increasing adoption of targeted therapy over traditional therapy
- Emergence of biosimilars
- Increasing demand for monoclonal antibodies(MABs)
- High prevalence rate of lifestyle diseases
- Fast track and orphan drug designations
Immunotherapy drugs are utilized to improve or smooth the insusceptible arrangement of the body. They are generally utilized in the treatment of cancer and act by empowering the resistant arrangement of the body and create an insusceptible reaction helping the generation of antibodies. The antibiotics are created for killing the dangerous tumour cells. An expansion in the prevalence of cancer and various immune system diseases lead to the demand for immunotherapy drugs. The immunotherapy drugs are also known as activation immunotherapies. The immune effector cells including macrophages, cytotoxic T lymphocytes (CTL), dendritic cells, lymphocytes, natural killer cells (NK Cell), etc., work collectively to protect the body against cancer by aiming at abnormal antigens articulated on the facade of the cancer cells.
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Fast track, orphan drug designations and high prevalence rate of lifestyle diseases are anticipated to drive the Immunotherapy Drugs market:
Increasing adoption of targeted therapy over traditional therapy, the emergence of biosimilars, and high prevalence rate of lifestyle diseases are the key driving factors for the immunotherapy drugs market. In addition, increasing demand for monoclonal antibodies (MABs) will lead to the growth of immunotherapy drugs market in a couple of years. The high cost of immunotherapy treatment and a high attrition rate in the product development cycle may limit the growth of the market. However, fast track and orphan drug designations are expected to boost the immunotherapy drugs market over the forecast period.
The global immunotherapy drugs market is segmented on the basis of the end user, type of drugs, therapy area, and regions.
Checkpoint inhibitors segment is anticipated to reach market share 24.18% during the forecast period
Type of drugs segment includes monoclonal antibodies, adult vaccines, checkpoint inhibitors, interferons alpha & beta, interleukins, and other. Checkpoint inhibitors segment is anticipated to grow with the highest CAGR over the forecast period. The first line of treatment in cancer leading to growing demand for immunotherapy drugs is the key factors to drive the demand of checkpoint inhibitors segment.
Hospitals segment held the largest market share of 36.78% in 2017
End User segment covers hospitals, clinics, and other. The other segment is further sub-segmented into home healthcare centres and nursing home facilities. The hospitals’ segment is anticipated to grow with the highest CAGR over the forecast period. The growing number of hospitals providing quick availability of immunotherapy drugs has increased the market share of hospitals segment.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America held the largest market share of approximately 28.61% in 2017. Increase in the demand for convenience, low cost of manufacturing and acceptable regulatory scenario were some of the factors that led to the growth of immunotherapy drugs market in this region.
The major players of immunotherapy drugs market include F. Hoffmann-La Roche, Merck, AbbVie, AstraZeneca, Johnson & Johnson, Bristol-Myers Squibb, Coherus BioSciences, ADC Therapeutics, ChemoCentryx, Boehringer Ingelheim, Argos Therapeutics, Agenus, CTI BioPharma, AVAX Technologies, Agensys, Biothera, Biogen, Alder Biopharmaceuticals, Aduro Biotech, Acorda Therapeutics, Eli Lilly, Amgen, Advaxis, and Bavarian Nordic.
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