Several types of immunotherapies are currently being marketed and several more are in various stages of development. Each therapy works in a unique manner, targeting specific pathways by which cancers spread throughout the body. Immune checkpoint inhibitors, immune system modulators, cancer vaccines, oncolytic virus, and immune cell therapy are some of the widely used immunotherapies.
The global immuno-oncology market is estimated to account for US$ 12,993.8 Mn in terms of value in 2020 and is expected to reach US$ 37,783.6 Mn by the end of 2027.
Get FREE Sample PDF Including COVID-19 Impact Analysis: https://www.coherentmarketinsights.com/insight/request-pdf/1271
Global Immuno-Oncology Market: Drivers
Approval and launch of novel immuno-oncology products is expected to propel growth of the global immuno-oncology market over the forecast period. For instance, in June 2018, Agilent Technologies Inc. received the U.S. Food and Drug Administration (FDA) approval for its Dako PD-L1 IHC 22C3 pharmDx assay used for determining PD-L1 expression in cervical cancer.
Global Immuno-Oncology Market: Opportunities
Increasing funding in cancer R&D is expected to offer lucrative growth opportunities for players in the global immuno-oncology market. For instance, according to the National Cancer Research Institute (NCRI), cancer research funding by NCRI partners reached around US$ 750 million in 2018/19.
Global Immuno-Oncology Market: Restraints
Immune resistance mechanism is leading to limited therapeutic success, thereby hindering growth of the global immuno-oncology market. Once the therapeutic effect of an immunotherapy-based drug has been maximized, it is also desirable to prolong these effects by avoiding resistance mechanisms that decrease the duration of drug efficacy. All targeted cancer therapies are prone to resistance mechanisms that alter the function of the target antigen and render the treatment redundant.
Browse Press Release: https://bit.ly/3aPg55L
The global immuno-oncology market was valued at US$ 11,060.6 Mn in 2019 and is forecast to reach a value of US$ 37,783.6 Mn by 2027 at a CAGR of 16.5% between 2020 and 2027. Major factor driving the growth of global immuno-oncology market during the forecast period include high prevalence of cancer, and product launches.
Immune Checkpoint Inhibitors held dominant position in the global immuno-oncology market in 2019, accounting for 89.7% share in terms of value, followed by Immune System Modulators and Cancer Vaccines, respectively. Research and development, and product launches is expected to support growth of the market over the forecast period.
The global immuno-oncology market is witnessing approval and launch of biosimilars. For instance, in December 2019, The World Health Organization (WHO) prequalified its first biosimilar medicine – trastuzumab –– a monoclonal antibody for the treatment of early stage breast cancer. On an average trastuzumab costs US$ 20,000. However, the biosimilar version of trastuzumab is generally 65% cheaper than the originator.
The market is also witnessing investment in R&D of monoclonal antibodies. For instance, in February 2018, Ferring Pharmaceuticals announced to invest around US$ 30 million in the new Ferring Biotech Center in Saint-Prex, Switzerland, for R&D in monoclonal antibodies and biologics manufacturing.
Global Immuno-Oncology Market: Competitive Landscape
Major players operating in the global immuno-oncology market include, Amgen, Inc., AstraZeneca Plc, Bristol-Myers Squibb Company, Dendreon Corporation (A Sanpower Group Company), F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Novartis AG, Pfizer, Inc., Sanofi, Agilent Technologies Inc., Agenus Inc., Enzo Biochem, Inc., Lonza Group, Bio-Rad Laboratories, Inc., Avantor, Inc., Spring Bank Pharmaceuticals, Inc., and Ferring Pharmaceuticals.
Global Immuno-Oncology Market: Key Developments
July 2020: Spring Bank Pharmaceuticals, Inc. partnered with F-star Therapeutics, Limited, a privately-held clinical-stage biopharmaceutical company focused on development of tetravalent bispecific (mAb2) antibodies, to form a combined company, operating under the name F-star Therapeutics, Inc. that will focus on R&D in immuno-oncology
March 2020: Lonza collaborated with Stanford University School of Medicine, Fred Hutchinson Cancer Research Center, and Parker Institute for Cancer Immunotherapy for R&D in cell therapy.
Apply Promo Code “CMIFIRST1000” And Get Instant Discount Of USD 1000
Buy Now This Premium Report to Grow your Business @ https://www.coherentmarketinsights.com/insight/buy-now/1271
- By Treatment Type
- Immune Checkpoint Inhibitors
- Immune System Modulators
- Cancer Vaccines
- Oncolytic Virus
- Immune Checkpoint Inhibitors
- By Disease Type
- Lung Cancer
- Blood Cancers
- Renal Cell Carcinoma
- Prostate Cancer
- Bladder Cancer
- Other Cancers
- By End User
- Ambulatory Surgical Centers
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
To know more about us, please visit our website – www.coherentmarketinsights.com
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027