New York, July 25, 2022 (GLOBE NEWSWIRE) -- According to the World Trade Organization (WTO), the imports of finished pharmaceutical products have risen by 14% during the last 20 years, with imports worth at over USD 350 billion in 2018. There has also been steady growth in trade of pharmaceutical chemical components and active ingredients.
Research Nester has published a detailed market report on ‘Global Immune Repertoire Sequencing Market’ for the forecast period, i.e., 2022-2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions, namely, North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
Between the year 2010 and 2019, the figure of new drugs approved for sale rose 60% from the previous decade, reaching a peak of 59 new drugs in 2018. The global immune repertoire sequencing market is estimated to grow at a CAGR of ~6% over the forecast period. The market is anticipated to grow on the back of increasing development of novel drug owing to the extensive use of immune repertoire sequencing in biomarker discovery for a better success rate and cost-effectiveness of development of rational novel drug. Immune repertoire is the collection of individual clonotypes generated by all T and B cells in the body, sequencing the T and B cell receptor genes in the immune repertoire provides broad information about a person’s health. Therefore, increasing amount of diagnosis for immune associated problems on the account of growing prevalence of immune diseases such as cancer, and asthma, is anticipated to drive the market growth in the forecast period. According to the World Health Organization (WHO), asthma was estimated to have affected 262 million people in 2019 and resulted in 4,55,000 deaths.
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Moreover, the global market is also anticipated to grow during the forecast period on account of the increased focus of governments on healthcare sector, especially across the developing nations with high population. According to the World Health organization (WHO), the global health expenditure has increased to almost USD 8.3 trillion between the year 2000 and 2018, that is around 10% of the global GDP. Furthermore, increase in the import and export of pharmaceutical products worldwide is also projected to boost the global market in the upcoming future.
On the basis of geography, the global immune repertoire sequencing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share in the global market during the forecast period on the back of huge expenditure on healthcare in the region. According to the Centers for Medicare & Medicaid Services (CMS), U.S. health expenditures rose 9.7% in 2020 to USD 4.1 trillion, or USD 12,530 per capita. Also, increasing prevalence of autoimmune diseases across the region is estimated to drive the market growth. For instance, approximately 10 million US people are affected by the autoimmune diseases, that is about 3% of the US population. Moreover, presence of world’s major pharma companies in the region is also projected to boost the market growth.
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Moreover, the market in the Asia Pacific region is expected to witness a notable growth on the back of increasing global collaboration and foreign investment in the pharmaceutical industry in the emerging countries across the region. For instance, India's pharmaceutical industry registered a 200% rise in foreign direct investment (FDI) in 2020–2021. Along with this, increasing imports and exports of pharmaceuticals products is predicted to boost the market growth in the forecast period. For instance, the Japanese pharmaceutical drug export increased by about 16% from the year 2019 to 2020. Furthermore, technological advancement in the healthcare sector in the region is also anticipated to drive the market growth in the region during the forecast period.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global immune repertoire sequencing market is segmented on the basis of application into cancer immunotherapy, biomarker discovery, autoimmune diseases, vaccine development and efficacy, transplant rejection and tolerance, infectious diseases, and others, out of which, the cancer immunotherapy segment is anticipated to hold the largest market share in the global immune repertoire sequencing market on account of increasing prevalence of cancer worldwide. According to the WHO, cancer is one of the leading causes of death worldwide, with almost 10 million deaths in 2020, or almost one in six deaths. Moreover, immunotherapy is an effective way of treatment that uses a patient's own immune system to fight against cancer. Immunotherapy may work better on the certain cancers than the other available treatments do. Cancers such as skin cancer don’t respond well to traditional treatment methods (radiation or chemotherapy) but start to heal after immunotherapy.
Moreover, on the basis of end user the market is segmented into pharmaceutical companies, research institutes, diagnostic labs, and others out of which, the pharmaceutical companies segment is predicted to garner the largest share among all other sub-segments in the market across the forecast period. This can be attributed to the huge investments by pharmaceutical industries in R&D activities to develop more effective medicinal products. According to the CBO, approximately USD 83 billion were spent on R&D by the pharmaceutical sector, in 2019. Moreover, increased number of pharma companies engaged in R&D activities to discover new medicines and to bring improvement in the existing ones, is also predicted to boost the market growth in the forecast period. For instance, around 5000 pharmaceutical companies were engaged in research and development (R&D) pipelines in 2021.
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The global immune repertoire sequencing market is also segmented on the basis of product type.
Global Immune Repertoire Sequencing Market; Segmentation by Product Type.
- Instruments
- Assay Kits
Some of the prominent players and their company profiling mentioned in the report include are Agilent Technologies, Inc, Illumina, Inc., Pacific Biosciences of California, Inc, QIAGEN N.V., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche AG, Takara Bio, Inc, Oxford Nanopore Technologies, Ltd, BGI Group, and Atreca Inc. The profiling enfolds growth opportunities, challenges, market trends, competitive analysis and positioning, along with the strategies used by them to stay ahead of their competitors.
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