Market Research Report
Immunotherapy Drugs Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||649742|
|Published||Content info||116 Pages
Delivery time: 2-3 business days
|Immunotherapy Drugs Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: August 1, 2020||Content info: 116 Pages||
The immunotherapy drugs market is anticipated to record a CAGR of 13% during the forecast period. The major factors attributing to the growth of the immunotherapy drugs market are the rising adoption of targeted therapy over traditional therapy, emergence of biosimilars, rising prevalence of chronic diseases and lifestyle disorders, and rising demand for monoclonal antibodies. Furthermore, immunotherapy is widely used in cancer treatment
For instance, over the past decade, there has been a continuous rise in the prevalence of several chronic diseases, which, in several cases, need immune-based therapies. Some of the major chronic diseases include cancer, kidney failure, and heart diseases. Several lifestyle disorders, both chronic and non-communicable diseases, such as hypertension, diabetes, obesity, and depression, need critical care during hospitalization. Thus, the rise in the number of diseases and associated disorders is among the major primary reasons for the growth of this immunotherapy drugs market.
Cancer is Expected to Hold the Major Share in the Therapy Area Segment
North America Dominates the Market and is Expected to do Same in the Forecast Period
North America is expected to have a significant market share throughout the forecast period. This is due to the increasing incidence of cancers, rising geriatric population, growing preference, and adoption rate of immunotherapy rates across the region.
According to the estimates of the American Cancer Society, in 2018, there would be 1,735,350 new cancer cases diagnosed and 609,640 deaths, due to cancer in the United States. The most common cancers in the United States are breast cancer, lung cancer, prostate cancer, colorectum cancer, bladder cancer, and skin cancer.
In the North American region, the United States holds the largest market share. Factors, such as increased awareness among people for the early detection of diseases, better reimbursement policies, healthcare expenditure with better infrastructure, and rising prevalence of chronic and lifestyle disorders are the primary factors propelling the immunotherapy market in the United States. In March 2019, Roche's Tecentriq in combination with Abraxane received U.S.FDA accelerated approval for people with PD-L1-positive, metastatic triple-negative breast cancer. Tecentriq combination is the first cancer immunotherapy regimen approved for breast cancer.
The immunotherapy drugs market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. The market players are focusing on new product launches R&D, expansions to gain competitive advantage. In August 2019, U.S.FDA approved pexidartinib (TURALIO, Daiichi Sankyo) capsules for adult patients with symptomatic tenosynovial giant cell tumor (TGCT). Some of the major players of the market are AbbVie Inc., Amgen Inc., AstraZeneca, GlaxoSmithKline PLC, and F. Hoffmann-La Roche AG, among others.