Immunotherapy Drugs Market Global Analysis & Forecast Period 2021-2028

 



Radiation therapy, surgery, and chemotherapy have traditionally been used as the foundation of cancer treatment. In the field of immuno-oncology, many promising treatment options have recently emerged. These next-generation cancer treatment options point to the possibility of new and improved anticancer therapy techniques. Immunotherapy is a biological therapy whose primary goal is to strengthen the human immune system to combat diseases such as cancer and infectious diseases. Immunotherapy treatment boosts the body's overall immunity and slows the growth of cancer cells. The treatment instructs immune cells to eliminate cancer cells from the body.

The global immunotherapy drugs market is being driven by rising cancer incidences. Most cancers are caused by an increase in the geriatric population, as cancer rates rise with age. According to a 2015 WHO report, approximately half of cancer patients in the United Kingdom are over the age of 60. Other important factors include obesity, a change in lifestyle, smoking, and eating habits. Cancer treatments with fewer side effects are becoming more popular. This factor is expected to drive the growth of the global immunotherapy drugs market in the coming years, as immunotherapy drugs have been found to have fewer side effects than other treatments. Increased opportunities in developing markets and immunotherapy as a first-line treatment alternative to chemotherapy are expected to drive market growth. Furthermore, a faster drug approval process and a high prevalence of lifestyle diseases are expected to drive market growth during the forecast period.



The global immunotherapy drugs market is segmented by drug type, application, end-user, and region. The market is divided into checkpoint inhibitors, adult vaccines, interleukins, monoclonal antibodies, interferons, alpha and beta, and others. Adult vaccines are further subdivided into therapeutic vaccines and preventive vaccines. The development of new drugs and introducing new molecules into the market, such as elotuzumab, obinutuzumab, zanolimumab, and pertuzumab, are expected to support this growth segment. The market is divided into applications such as autoimmune and inflammatory diseases, cancer, infectious diseases, and others. During the forecast period, the cancer segment is expected to account for a sizable portion of the market.

The global immunotherapy drugs market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. Because of favorable government initiatives, healthy R&D investment, personalized medicine, the development of next-generation sequencing, and the availability of technologically advanced products, North America is expected to dominate the market during the forecast period. According to a WHO report from 2016, 1.75 million new cancer patients are expected to be diagnosed in the United States alone. The Asia Pacific immunotherapy drugs market is expected to grow rapidly in the coming years due to the development of health care infrastructure, high disposable income, increased health and hygiene awareness, and a largely untapped market base.

GE Healthcare, Thermo Fisher Scientific Inc.; Cepheid; F. Hoffmann-La Roche Ltd; OPKO Health, Inc.; Myriad Genetics, Inc.; Agilent Technologies; Koninklijke Philips N.V; Qiagen; Illumina, Inc.; Novartis AG; Abbott; PerkinElmer, Inc.; Genomic Health, Inc.; and Sysmex Corporation are key players in the global immunotherapy drugs market.

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