Immunology is a branch of medical research that studies the immune system. The immune system defends us against infection in a variety of ways. Diseases such as autoimmunity, allergies, and cancer can occur when the human immune system is not operating properly. Immunology has become increasingly useful for addressing ecological and evolutionary problems. By identifying the role of the immune system in health and disease, immunologists have been able to better understand and control the pathogenic effects of various types of infections.
The global immunology market is estimated to be valued at US$ 91,850 Million in 2021 and is expected to reach US$ 156,378.2 million by 2028, at a CAGR of 8% during the forecast period (2021–2028).
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Growing product approvals by regulatory agencies is driving the market growth over the forecast period.
The approval of new drugs and the trends of improvements in clinical efficiencies will bode well for the global immunology industry. For instance, the Food and Drug Administration (FDA) granted AbbVie permission to use ‘SKYRIZI’ in 2019. The medication was developed to treat moderate to severe plaque psoriasis. This medication was designed to treat adults with psoriasis who had been prescribed or were receiving treatment.
Global Immunology Market – Regional Analysis
Regionally, North America has the largest share in immunology drug market owing to the availability of better reimbursement policies, high potential to invest a huge amount of money in the development of immunology drugs. Moreover, Europe is the second largest region in terms of market value due to easy accessibility to immunology medications and the high affordability of therapy. Rise in awareness, rising economy, growing government initiatives, and large patient pool in Asia-Pacific regions also demonstrate a high growth in global immunology market.
Global Immunology Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it as a public health emergency in 2020. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported globally as of August 2, 2021 are approximately 198,234,951 confirmed cases with around 4,227,359 deaths. The coronavirus or COVID-19 outbreak started from Wuhan, China and has spread across continents, affecting various industries globally.
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The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss, this is owing to the lockdown announced by the government agencies, due to which several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries are likely to bring the economy back on track, and aid in the resumption of industrial activities.
Global Immunology Market: Restraint
Factors such as high costs of immunology drug, adverse effects associated with these drugs, and lack of awareness are the major factors that can hinder the growth of the global immunology market. For instance, according to data reported by the New York Times from SSR health, a research firm, the price of Humira (a prescription injection used to treat rheumatoid arthritis and other conditions) has gone up from about US$ 19,000 a year (in 2012) to more than US$ 38,000 a year (in 2019) per patient.
Key players operating in the global immunology market include AbbVie Inc., Janssen Global Services, Johnson & Johnson, F. Hoffmann-La Roche Ltd, Amgen Inc., Pfizer Inc., Novartis, Astellas, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., UCB SA, and Allergan plc.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Immunology Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Immunology Industry Impact
Chapter 2 Global Immunology Competition by Types, Applications, and Top Regions and Countries
2.1 Global Immunology (Volume and Value) by Type
2.3 Global Immunology (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Immunology Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Immunology Market Analysis
Chapter 6 East Asia Immunology Market Analysis
Chapter 7 Europe Immunology Market Analysis
Chapter 8 South Asia Immunology Market Analysis
Chapter 9 Southeast Asia Immunology Market Analysis
Chapter 10 Middle East Immunology Market Analysis
Chapter 11 Africa Immunology Market Analysis
Chapter 12 Oceania Immunology Market Analysis
Chapter 13 South America Immunology Market Analysis
Chapter 14 Company Profiles and Key Figures in Immunology Business
Chapter 15 Global Immunology Market Forecast (2021-2027)
Chapter 16 Conclusions
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