Newark, NJ, May 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global immunotherapy drug market is expected to grow from USD 156.39 billion in 2019 to USD 415.76 billion by 2027, at a CAGR of 13.49% during the forecast period 2020-2027. North America is anticipated to hold the market for immunotherapy drugs in terms of revenue owing to good R&D investments, government initiatives, development of next generation sequencing, availability of technologically advanced health care research framework, and personalized medicine. Europe is holding the second-largest position in the immunotherapy drug market. The Asia-Pacific region is expected to boost the market growth due to the rise in health and hygiene related awareness, development of health care infrastructure, economic development, high disposable income, and vast untapped market base. Countries like India and South Korea has higher demand for new treatments. Therefore, emerging as fastest growing market across the world. The Africa and Middle East region is contributing least growth in the market.
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Some of the key players in the immunotherapy drug market are Thermo Fisher Scientific Inc., Cepheid, GE Healthcare, Myriad Genetics Inc., F. Hoffmann-La Roche Ltd., OPKO Health Inc., Sysmex Corporation, PerkinElmer Inc., Agilent Technologies, Qiagen, Illumina Inc., Genomic Health Inc. Novartis AG, Abbott, UbiVac, and Koninklijke Philips N. V. Genentech, a member of the Roche Group, announced the US FDA approval of Tecentriq, in combination of chemotherapy, for the first-line treatment of adults with extensive-stage small cell lungs cancer, in March 2019
This study delivers a comprehensive analysis of drug type, therapy area, end users and region. The type of drug segment includes Adult Vaccines, which includes preventive and therapeutic vaccines, Monoclonal Antibodies, Interferons Alpha and Beta, Interleukins, Checkpoint Inhibitors, and others. The development of novel drugs and the entry of new molecules such as obinutuzumab, zanolimumab, onartuzumab, and elotuzumab into the market are expected to support the growth of this segment. Based on therapy the market is divided into cancer, inflammatory and autoimmune, infectious diseases, and others. The cancer segment is expected to hold the largest number of shares. Based on end-user, the hospital segment is expected to show significant growth.
The factors driving the immunotherapy drug market are the adoption of targeted therapy over traditional therapy, increasing number of patients who have cancer, surging incidents of chronic diseases and lifestyle disorders, and less side effects due to drugs in comparison of other treatments. Factors that restrains the growth of the market are lack of information about immunotherapy drugs and costly treatments. The challenges faced by the immunotherapy market is to improve patients responsive rates and improve the effectiveness. Thus, the market is expected to grow due to rise in aging population, increasing disease incidence, rise in occurrence of cancer and increasing R&D activities.
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About the report:
The global immunotherapy drug market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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