DUBLIN, October 27, 2021--(BUSINESS WIRE)--The "Immunotherapy Drugs Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global immunotherapy drugs market was valued at USD 169.47 billion in 2020 and is expected to reach USD 326.36 billion by 2026, growing at a CAGR of 11.54%.
The major factor responsible for growth in the immunotherapy drugs industry is an increase in demand for outsourcing the manufacturing of immunotherapy drugs by several biopharmaceuticals and biotechnological companies and resistance against conventional treatments. Major key players and other prominent vendors engaged in the immunotherapy drugs domain are constantly focusing on product launches, product approvals, R&D activities, and expanding their organic growth.
GLOBAL IMMUNOTHERAPY MARKET SEGMENTS
The monoclonal antibody segment accounted for the high share of 72.6% of the global immunotherapy drugs market in 2020. Significant advances in the field, notably, and the unprecedented results obtained using monoclonal antibodies that attach themselves to lymphocytes. This restores their functioning toward tumor cell and thus create a defense for the body against cancer.
The autoimmune diseases segment accounted for the highest market share in 2020. It is expected to post an incremental growth of USD 23.95 billion with 33% absolute growth during the forecast period. The segment's growth is attributed to the increase in the prevalence of immune-mediated inflammatory diseases (IMIDs), including autoimmune and auto-inflammatory diseases.
In 2020, the cancer segment accounted for the highest market share of 45.33%. Immunotherapies in oncology have been widely popularized by developing curative therapies, such as CAR T-cell. However, developing personalized therapies such as CAR T-cell to treat various types of cancers may pose significant challenges, such as educating medical personnel regarding the procedures and creating a convenient process for engineering T-cells of the patients and infusing them.
North America: North America has the highest share among all the regions and is likely to witness an absolute growth of around 105% during the forecast period. The rise in the immunotherapy drugs industry is primarily attributable to the increasing incidence rates of various types of cancers such as non-Hodgkin lymphoma, Hodgkin lymphoma, melanoma of the skin, and leukemia, etc.
Europe: Europeans represent about one-tenth of the global population, yet one in four of all cancer diagnoses occur in this region. This region is likely to witness an absolute growth of around 84% during the forecast period.
APAC: APAC is witnessing growing demand mainly due to a large and growing population. In APAC, various opportunities associated with the growth of the cancer immunotherapy drugs market are increasing, and government initiatives will further improve the healthcare sector.
The major vendors such as F. Hoffmann-La Roche, Bristol Myers Squibb Company, Merck & Co., Inc., GlaxoSmithKline, Novartis, AstraZeneca, and Janssen Pharmaceuticals Inc.
Bristol Myers Squibb (BMS) is a biopharmaceutical company that is helping - outpatients in succeeding aliments by delivering innovative products. It has owned innovative drugs such as OPDIVO Immunotherapy Drugs for a wider range of diseases.
Market competitiveness is expected to increase during the forecast period as the vendors constantly focus on expanding their product portfolios.
The emergence of various diseases in developing countries is propelling the usage of monoclonal antibodies, demanding the introduction of newer immunotherapies and creating opportunities for the market.
Cancer immunotherapy drugs revolutionized in cancer therapies that have begun to shift curve of cancer patients by increasing their lifespan.
The increasing immunotherapy drugs pipeline coupled with the emergence of the pandemic has scaled up the production of medicines.
By product, the adoptive cell therapy segment is expected to witness absolute growth of 1280% during the forecast period.
The recent trend of mergers and acquisitions is boosting the growth of the immunotherapy drugs industry. For instance, Bristol-Myers Squibb's one of most recent and high-value transactions was the acquisition of Celgene in January 2018.
F. Hoffmann-La Roche
Bristol Myers Squibb Company
Merck & Co., Inc.
Janssen Pharmaceuticals, Inc.
Other Prominent Vendors
Eli Lilly and Company
Elusys Therapeutics, Inc
Gilead Sciences, Inc
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
5 Report Assumptions & Caveats
6 Market at a Glance
8 Market Opportunities & Trends
8.1 Launch of Next-Generation Immunotherapies
8.2 COVID-19 as Growth Catalyst
8.3 Investment in R&D Activities
8.4 Mergers & Acquisitions
9 Market Growth Enablers
9.1 Prevalence of Cancer & Autoimmune Diseases
9.2 Approval of Novel Immunotherapy Drugs
9.3 Surge in Adoption of Car T-Cell Therapies
10 Market Restraints
10.1 Expensive Nature of Immunotherapy
10.2 Personalized Approach Through Biomarkers
10.3 Time-Consuming Production Cycle
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Impact of COVID-19 on Immunotherapy Drugs
11.4 Porter's Five Forces Analysis
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Monoclonal Antibody
12.4 Immune System Modulators
12.5 Car T-Cell Therapy
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.4 Autoimmune & Inflammatory Diseases
For more information about this report visit https://www.researchandmarkets.com/r/jihiag
View source version on businesswire.com: https://www.businesswire.com/news/home/20211027005927/en/
Laura Wood, Senior Press Manager
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