Fort Collins, Colorado, Oct. 12, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the immunotherapy drugs market size was valued at USD 121.5 Billion in 2022 and is expected to reach USD 235.4 Billion by 2032 at a CAGR of 6.9%.
Immunotherapy is a biological treatment that enables the immune system to fight cancer or any other disease. Immunotherapy is used to up-regulate or down-regulate the immune system to achieve a therapeutic effect in immunologically mediated disorders, including immunodeficiency, hypersensitivity reactions, autoimmune diseases, tissue and organ transplantations, and malignancies. Thus, immunotherapies can improve the quality and life expectancy.
Immunotherapy drugs have shown positive results in the treatment of cancer. Additionally, increased demand and production of monoclonal antibodies and biosimilars have boosted the adoption of targeted therapy over traditional therapy, among other factors attributing to the market growth.
Technological advancements like the development of manufacturing techniques like cell culture technology with growing adoption of personalized medicine, approval of immunotherapy drugs by the US FDA, and growing investments in research & development attributed to the market growth. Biopharma companies fund drug research in the immunotherapy market and collaborate with other biotech companies to develop new immunotherapies for cancer research. For instance, the Tufts Centre for the Study of Drug Development reported that more than 130 biotech and 20 pharmaceutical companies were working on immuno-oncology therapies.
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Segmentation Overview:
The global immunotherapy drugs market has been segmented into drug type, therapeutic, and region. The autoimmune disease segment is anticipated to grow fastest during the forecast period. The rise in autoimmune diseases globally and the approval of several immunotherapy drugs are factors favoring the growing demand for this segment. North America dominates the market and holds the largest market share. The rising number of cancer patients in North America, increased approvals from the FDA, the emergence of safer cancer therapies, the production of immunotherapy drugs by key companies, and rising investments from public and private organizations led to the region's dominance in the market.
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Immunotherapy Drugs Market Report Highlights:
- The global immunotherapy drugs market growth is anticipated at a CAGR of 6.9% by 2032.
- The growing dependence on cancer therapies will significantly drive the immunotherapy drugs market growth in the forthcoming years.
- The monoclonal antibody segment growth is anticipated to dominate the market in the forthcoming years.
- The cancer segment held the largest market share in 2022. The rising prevalence of cancer patients has triggered the demand for immunotherapy treatment.
- Some prominent players in the immunotherapy drugs market report include Novartis AG, Johnson & Johnson Services, Inc., Bayer AG, Amgen, Sanofi, Pfizer, Inc., Hoffmann-La Roche Ltd, AbbVie, Inc., Roche, Merck, Eli Lilly, Celgene, and Teva Pharmaceuticals.
Industry Trends and Insights:
- In 2021, Novartis strengthened its immunotherapy pipeline by collaborating with BeiGene, Ltd. for ociperlimab (BGB-A1217), expanding the company’s research and development activities in immuno-oncology.
- Bristol-Myers Squibb (BMS) immuno-oncology treatment Yervoy® (ipilimumab) surpassed USD one billion in worldwide revenues in 2022.
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Immunotherapy Drugs Market Report Segmentation:
- By Drug Type: Monoclonal antibodies, immunomodulators, checkpoint inhibitors, vaccines.
- By Therapeutic: Cancer, autoimmune disease, inflammatory disease, infectious disease.
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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