Portland, OR, Feb. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global immune checkpoint inhibitors market was estimated at $29.80 billion in 2020 and is expected to hit $140.89 billion by 2030, registering a CAGR of 16.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Rise in incidences of cancer across the world, surge in global geriatric population, and supportive reimbursement policies for immune checkpoint inhibitors drive the growth of the global immune checkpoint inhibitors market. On the other hand, higher cost of immune checkpoint inhibitors impedes the growth to some extent. However, increase in number of pipeline drugs is expected to create lucrative opportunities in the industry.
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Impact of Covid-19 on Immune Checkpoint Inhibitors Market-
- The outbreak of the product led to decline in number of cancer patient visits in hospitals and clinics for immune checkpoint inhibitor therapy (ICI) which, in turn, gave way to decline in demand of immune checkpoint inhibitors products, thereby impacting the global immune checkpoint inhibitors market negatively.
- However, the market is anticipated to get back on track soon.
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The global immune checkpoint inhibitors market is analyzed across type, application, and region. Based on type, the PD-1 inhibitor segment accounted for around three-fourths of the total market share in 2020, and is expected to rule the roost by 2030. The PD-L1 inhibitor segment, on the other hand, would garner the fastest CAGR of 19.4% throughout the forecast period.
Based on application, the lung segment and chemic cancer segment contributed to around two-fifths of the total market revenue each in 2020, and are projected to lead the trail by 2030. The same segment would also exhibit the fastest CAGR of 17.8% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering nearly two-thirds of the global market. The Asia-Pacific region, however, would manifest the fastest CAGR of 18.4% throughout the forecast period.
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The key market players analyzed in the global immune checkpoint inhibitors market report include Bristol-Myers Squibb Company, Eli Lilly and Company (ARMO Biosciences.) GlaxoSmithKline Plc, Merck KGaA (EMD Serono, Inc.), F.Hoffmann-La Roche Ltd. (Genentech, Inc.,), AstraZeneca PLC,Sanofi, Merck & Co., Inc., and BeiGene Ltd, and Shanghai Jhunsi Biosciences Ltd. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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