Immunotherapy Drugs Market in terms of revenue was estimated to be worth $163.0 billion in 2020 and is poised to reach $274.6 billion by 2025, growing at a CAGR of 11.0% from 2020 to 2025. The growth of this market is majorly attributed to the rising prevalence of target diseases, increasing demand for monoclonal antibodies and biosimilars increasing adoption of immunotherapy drugs over conventional treatments, and a favourable approval scenario. However, timeline issues, side-effects, and manufacturing complexities and a high attrition rate in the product development cycle are expected to challenge market growth.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=137717755
Browse in-depth TOC on "Immunotherapy Drugs Market”
114 – Tables
34 – Figures
176 – Pages
Key Market Players
F. Hoffmann-La Roche Ltd. (UK), Pfizer Inc. (US), and Merck & Co (US) are the key players operating in the immunotherapy drugs market. Others are Novartis International AG (UK), Johnson & Johnson (US), Sanofi (France), GlaxoSmithKline Plc (UK), Amgen Inc. (US), AbbVie Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca (UK), and Immatics Biotechnologies (Germany)
F.Hoffmann-La Roche was the largest player in the immunotherapy drugs market in 2019. The company offers an extensive range of immunotherapy drugs for oncology and autoimmune diseases. Roche aims to be a reliable manufacturer and provider of immunotherapy products that will fulfill the needs of unmet medical therapy areas. The company focuses on organic and inorganic growth strategies to maintain its position in the market and expand its global presence. It has received numerous approvals in several different regions in the past three years for immunotherapy products like TECENTRIQ and ACTEMRA/ROACTEMRA. Roche focuses on acquisitions to strengthen its foothold in the market. It acquired Spark Therapeutics (US) in 2019 and Ignyta, Inc. (US) in 2017.
Pfizer is the second-leading player in the global immunotherapy drugs market. The company has a strong presence in more than 90 countries and sells its products in more than 125 countries. The company offers innovative drugs and biologics in the fields of cancer and inflammatory diseases. It mainly focuses on inorganic growth strategies such as collaborations, agreements, and acquisitions. In past years, the company has conducted joint ventures with GSK (UK), Mylan (US), and Bain Capital (US) to form three separate entities. These efforts are in line with its strategy to enhance its product portfolio and geographic presence. Moreover, Pfizer has demonstrated a significant focus on product innovation in the field of cytokine products.
Request Free Sample Report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=137717755
The monoclonal antibodies segment accounted for the largest share of the immunotherapy drugs market, by type, in 2019
Based on type, the global market is segmented into monoclonal antibodies, checkpoint inhibitors, interferons & interleukins, and other immunotherapies. The monoclonal antibodies segment accounted for the largest share of the global market in 2019. This large share can be attributed to their high specificity and fewer side-effects, increasing focus on personalized medicines, initiatives by industry players, and the rising target disease incidence and patient pool.
By therapeutic area, cancer accounted for the largest market share in 2019
On the basis of therapeutic area, this market is segmented into cancer, autoimmune & inflammatory diseases, infectious diseases, and other therapeutic areas. Cancer accounted for the largest share of the global immunotherapy drugs market, by therapeutic area, in 2019. The large share of this segment can be attributed to the growing prevalence of cancer, rising research activity in this area, and reimbursement coverage for immunotherapies for oncology.
Cancer commanded the largest share of the immunotherapy drugs market, by therapeutic area, in 2019.
Based on therapeutic area, the immunotherapy drugs market has been segmented into cancer, autoimmune and inflammatory diseases, infectious diseases, and other therapeutic areas. Cancer accounted for the largest share of the immunotherapy drugs market in 2019. Factors such as the large number of approvals, rising prevalence of cancer, rising demand for monoclonal antibodies & personalized medicines, and the expansion of policies by payers to cover most immunotherapy drugs are driving the market growth.
Hospitals are the largest end-user segment of the immunotherapy drugs market.
On the basis of end users, the immunotherapy drugs market is segmented into hospitals, clinics, and other end users. The hospitals segment accounted for the largest share of the global immunotherapy drugs market, by end user, in 2019. Factors contributing to the large share and high growth of this segment include the rising spending by hospitals on immunotherapies, the prevalence of cancer and autoimmune diseases, and the availability of the necessary infrastructure and facilities.
North America dominates the immunotherapy drugs market during the forecast period.
In 2019, North America accounted for the largest share of the immunotherapy drugs market, followed by Europe. The increasing prevalence of cancer, rising demand for quality diagnostics, the introduction of favorable reimbursement policies, and the implementation of favorable initiatives are some major factors driving the growth of the immunotherapy market in North America. However, the Asia Pacific region is expected to grow at the highest rate during the forecast period, owing to factors such as aggressive investments by key market players, increased government spending on healthcare, and rising disposable income of the population.
Recent Developments:
- In 2019, Novartis International AG inaugurated a manufacturing facility for cell and gene therapies in Stein, Switzerland
- In 2019, Amgen launched MVASI (bevacizumab-awwb) and KANJINTI (trastuzumab-anns) in the US
- In 2019, Gilead Sciences, Inc. and Humanigen, Inc. (US) collaborated to jointly conduct a study of lenzilumab with YESCARTA in patients with relapsed or refractory diffuse large B-cell lymphoma
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=137717755
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
