The global immunotherapy drug market is segmented into drug types such as antibodies, interleukins, interferon, checkpoint inhibitors and vaccines. Among these segments, antibodies segment is expected to occupy top position in overall immunotherapy drug market during the forecast period. Rising usage of antibodies in cancer treatment is impelling the growth of antibodies immunotherapy drug market. Furthermore, increasing research & development investment and introduction of new antibodies such as monoclonal antibodies is anticipated to impel the growth of this segment.
Global immunotherapy drug market is expected to flourish at a CAGR of 13.0% during the forecast period. Moreover, the global immunotherapy drug market is expected to garner noteworthy revenue by the end of 2021. Factors such as rising prevalence of cancer, enhancement in healthcare infrastructure and rising disposable income are expected to significantly impact the growth of the global immunotherapy drug market.
North America captured largest market share of immunotherapy drug in 2015. Further, North America is projected to continue its dominance over the forecast period. This can be attributed to the high number cancer patients in the region. According to Center for Disease Prevention and Control, number of new cases of cancer is anticipated to increase to 2 million per year by 2020 which further is likely to substantially raise the demand for immunotherapy drugs. Apart from this, favorable government initiatives are expected to impel the growth of immunotherapy drug market in North America. Asia Pacific is expected to showcase lucrative growth in immunotherapy drugs market during the forecast period. Increasing prevalence of cancer and government policies and programs to reduce the number of deaths from cancer are expected to fuel the growth of immunotherapy drug market in Asia Pacific region.
Increased Prevalence of Cancer
Increasing number of new cases of cancer is major factor behind the growth of immunotherapy drug market. As per the World Health Organization, new cases of cancer are projected to increase by 70% by 2037. Consequently, the demand for immunotherapy drugs is also expected to increase during the forecast period.
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Innovation and Development of New Drugs
Advances and development of new drugs such as antigen bonding drugs, conjugated antibodies drugs are anticipated to impel the growth of immunotherapy drug market. Moreover, rising investment in research and development of immunotherapy drugs is expected to provide robust growth to immunotherapy drug market during the forecast period.
However, high cost of immunotherapy treatment and lack of awareness regarding biological cancer treatment are some of the factors which are likely to inhibit the growth of the global immunotherapy drug market in the near future.
The report titled “Immunotherapy Drug Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global immunotherapy drug market in terms of market segmentation by drug types and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global immunotherapy drug market which includes company profiling of AbbVie Inc., Amgen Inc., Novartis International AG, F. Hoffmann-La Roche Ltd, Merck Sharp & Dohme Corp., GlaxoSmithKline plc, Bristol-Myers Squibb Company, Johnson & Johnson Services Inc., AstraZeneca plc, and Pfizer Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global immunotherapy drug market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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