Wilmington, New Castle, Delaware, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Immune Checkpoint Inhibitors Market By Type (CTLA-4 Inhibitor, PD-1 Inhibitor, PD-L1 Inhibitor), By Application (Lung Cancer, Bladder Cancer, Melanoma, Colorectal Cancer, Hodgkin Lymphoma, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global immune checkpoint inhibitors market was valued at $40.1 billion in 2022, and is projected to reach $189.3 billion by 2032, registering a CAGR of 16.8% from 2023 to 2032.
Prime determinants of growth
Growing healthcare infrastructure, rise in prevalence of cancer conditions that require effective treatment and growing awareness regarding the use of immune checkpoint inhibitors are the factors that drive the growth of the global immune checkpoint inhibitors market. However, high cost of the inhibitors hinder market growth. On the contrary, a rise in healthcare expansion is expected to offer remunerative opportunities for the immune checkpoint inhibitors market during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $40.1 billion |
| Market Size in 2032 | $189.3 billion |
| CAGR | 16.8% |
| No. of Pages in Report | 248 |
| Segments covered | Type, application and region |
| Drivers | Increase in incidences of cancer across the globe |
| Rise in geriatric population | |
| Supportive reimbursement policies for immune checkpoint inhibitors | |
| Opportunities | Growth opportunities in emerging markets |
| Restraints | Higher cost of immune checkpoint inhibitors |
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Recession Scenario
- During a recession, the impact on the healthcare industry, including immune checkpoint inhibitors, can be significant.
- The economic downturns may hinder technology investment. However, the growing number of cancer cases and the rising focus on effective management can drive interest in immune checkpoint inhibitors.
The PD-1 inhibitor segment to maintain its lead position during the forecast period.
Based on type, the PD-1 inhibitor segment dominated the market in 2022, accounting for almost three-fourths of the global immune checkpoint inhibitors market, and is expected to register highest CAGR of 17.2% during the forecast period owing to rise in adoption of PD-1 inhibitors in various cancers, including melanoma, lung, and bladder cancers, owing to their superior efficacy and durable responses in treating cancers. In addition, expanded approvals of PD-1 inhibitors across multiple cancer types & stages have widened their market presence along with increasing ongoing clinical trials exploring PD-1 inhibitors in combination therapies with other treatments have reinforced their effectiveness, thereby driving the segment growth.
The lung cancer segment to maintain its lead position during the forecast period.
Based on application, the lung cancer segment dominated the market in 2022, accounting one-third of the global immune checkpoint inhibitors market and is expected to register highest CAGR of 17.7% during the forecast period. this is attributed to rise in prevalence of lung cancer cases globally, adoption of PD-1/PD-L1 inhibitors in treating lung cancers owing to improved survival rates, and ongoing research focusing on combination therapies & expanding indications for these inhibitors in lung cancer treatment.
North America maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than three-fifths of the global immune checkpoint inhibitors market revenue the region’s robust healthcare infrastructure and advanced research capabilities, which facilitate early adoption and extensive utilization of innovative therapies, including immune checkpoint inhibitors. In addition, well-established clinical trials and research initiatives focusing on immune checkpoint inhibitors in various cancers, coupled with favorable regulatory policies is anticipated to fuel the market growth. However, the Asia-Pacific segment is projected to register highest CAGR of 18.8% during the forecast period owing to prevailing cancer cases and growing development in healthcare infrastructure with rise in adoption and demand for immune checkpoint inhibitors, thereby driving the growth of the market during the forecast period.
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Leading Market Players: -
- Merck And Co., Inc.
- Astrazeneca Plc
- F. Hoffmann-La Roche Ltd.
- Merck KGaA
- Regeneron Pharmaceuticals, Inc.
- Bristol-Myers Squibb Company
- Beigene, Ltd.
- Shanghai Junshi Biosciences Co., Ltd.
- Glaxosmithkline Plc
- Innovent Biologics, Inc
The report provides a detailed analysis of these key players of the global immune checkpoint inhibitors market. These players have adopted different strategy such acquisition, agreement, strategic alliance, collaboration, clinical trial, expansion, joint venture, new product development, and product approval to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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