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Global Immunotherapy Drugs Market was Valued at US$ 133.43 Bn in 2020 owing to Increasing Adoption of Immunotherapy Drugs over Conventional Treatments

Published On 28 Sep 2021 08:33 AM


Absolute Markets Insights (AMI) reports a robust forecast for the immunotherapy drugs market during the 2021-2029 period. In its newly released report, AMI anticipates the market will grow at 10.9% as increasing prevalence of target diseases and favourable drug discovery regulation. AMI reports that the market stood at a valuation of US$ 133.43 Bn in 2020.

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Clinics is expected to be the fastest growing segment over the forecast period 2021 – 2029

According to Absolute Market Insights report, clinics is expected to be the fastest growing segment over the forecast period owing to growing patient base in clinics, increasing incidences of cancers and consumer focusing towards specialty clinics. Furthermore, the increasing penetration of technological advancements in the clinics is proving to be a key driver for the growth of immunotherapy drugs market.

Cancer Segment held the Largest Market Share and is expected to be the Fastest Growing in Segment over the Forecast Period

According to AMI, cancer segment held the largest market share and is also expected witness highest growth rate over the forecast period. Immunotherapy drugs improve the immune system's ability to recognise and kill tumour cells. These treatments have benefitted an increasing number of patients in recent years, including those with advanced cancers. Increasing investments towards development of cancer immunotherapy drugs is anticipated to contribute towards the segment’s growth over the future years.

Intravenous (IV) Route of Administration to Garner Substantial Growth Rate over the Forecast Period

According to AMI, Intravenous route of administration is projected to witness substantial growth rate over the period of next eight years owing to its benefits such as short latent time and ability to rapidly improve a drug's action. Intravenous immunotherapy is administered as an infusion directly into veins. It could necessitate a visit to an outpatient facility, clinic, doctor's office, hospital stay. Treatment is ideally carried out on a daily, weekly, or monthly basis. Some are administered in cycles, with a time of therapy followed by a period of rest. Keytruda (pembrolizumab), an immune checkpoint inhibitor, was approved by the U.S. Food and Drug Administration for intravenous injection as the first-line therapy of patients with unresectable or metastatic microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) colorectal cancer in June 2020.

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Immune Checkpoint Inhibitors is projected to be the Fastest Growing Segment over the Forecast Period

According to Absolute Market Insights report, immune checkpoint inhibitors is estimated to witness highest growth rate over the forecast period. Increasing incidence of cancer patients globally is expected to be the major factor contributing towards the market growth. Immune checkpoint inhibitors are immunotherapy medications that function by preventing checkpoint proteins from attaching to their partner proteins. As a result, the "off" signal is not sent, allowing T cells to attack cancer cells. Six checkpoint inhibitor drugs were granted for 14 indications between March 25, 2011, and August 17, 2018, according to data from the U.S. Food and Drug Administration (FDA). The projected percentage of cancer patients who were eligible for checkpoint inhibitor drugs grew from 1.54% (95 percent CI: 1.51%-1.57%) in 2011 to 43.63 percent (95 percent CI: 43.51 percent -43.75 percent) in 2018.

Asia-Pacific Immunotherapy Drugs Market is Predicted to Grow at the Quickest Rate During the Forecast Period

AMI reports that Asia Pacific immunotherapy drugs market is predicted to grow at the fastest rate during the forecast period, owing to rising healthcare spending for infrastructure improvements and rising research and development (R&D) activities in the region. Increasing incidences of cancer in the major economies in the region such as China, India is expected to drive the market growth. For Instance, according to the National Cancer Registry Programme, the five common forms of cancer in India include breast, lung, mouth, cervix uteri, and tongue. The majority of the patients with cancer were diagnosed at the locally advanced stage for breast (57.0%), cervix uteri (60.0%), head and neck (66.6%), and stomach (50.8%) cancer in 2020.

Furthermore, major market player’s development in the Asia pacific region is expected to drive the growth of the immunotherapy drugs market. For instance, Corden Pharma, located in Germany, formed a technology alliance agreement with Nanos, based in South Korea in May 2021. Nanos plans to modify and utilise the current production facility to launch Peptides, which is a promising agent for cancer immunotherapy drugs, by either in-licensing or through large-scale direct investment.

Some of the players operating in the immunotherapy drugs market are AbbVie Inc., Amgen Inc., AstraZeneca, Bayer AG, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Merck & Co., Inc., and Novartis AG, Pfizer Inc., amongst other market participants.

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Global Immunotherapy Drugs Market:

  • By Type
    • Monoclonal Antibodies
    • Immune Checkpoint Inhibitors
    • Interferons & Interleukins
    • Vaccines
    • Others
  • By Disease Indication
    • Cancer
      • Breast Cancer
      • Bladder Cancer
      • Brain Cancer (Brain Tumor)
      • Colorectal (Colon) Cancer
      • Melanoma
      • Kidney Cancer
      • Others
    • Autoimmune Diseases
    • Infectious Diseases
    • Others
  • By Route of Administration
    • Oral
    • Intravenous (IV)
    • Topical
    • Others
  • By End Users
    • Hospitals
    • Clinics
    • Others
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
      • Rest of North America
    • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Nordic Countries
        • Denmark
        • Finland
        • Iceland
        • Sweden
        • Norway
      • Benelux Union
        • Belgium
        • The Netherlands
        • Luxembourg
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • Southeast Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of Southeast Asia
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America

For More Information Click: https://www.absolutemarketsinsights.com/reports/Global-Immunotherapy-Drugs-Market-2021---2029-919

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Press Release Provided By: Absolute Markets Insights