Dublin, June 27, 2024 (GLOBE NEWSWIRE) -- The "Global Immunomodulator Market" report has been added to ResearchAndMarkets.com's offering.
In a significant development for the healthcare industry, the global immunomodulator market is poised for substantial growth, anticipated to soar from USD 233.03 billion in 2023 to USD 477.55 billion by 2034. This remarkable expansion is forecasted at a robust Compound Annual Growth Rate (CAGR) of 6.74% during the period from 2024 to 2034. This upsurge is attributed to the escalating prevalence of immunological disorders, increased research and development activities, enhanced patient preference for biologic therapies, and continuous advancements in drug development technologies.
Product Innovation and Mergers
The notable upswing in the market is largely driven by the immunosuppressants segment, which commanded the highest revenue in 2023. Their established efficacy in preventing organ transplant rejection and managing autoimmune diseases has reinforced demand. Furthermore, a series of strategic acquisitions by major pharmaceutical players has underpinned this sector, exemplified by Merck's move to enhance its pipeline in immunological therapies. Conversely, the immunostimulants category is forecast to rise at the fastest rate thanks to the burgeoning requirement for stronger immune responses against infectious diseases and the progression of immunotherapies.
Leading Market Segments
The spotlight shines brightly on oncology as the leading segment within the application domain, with its ascendancy in the market fortified by the evolution of immunomodulatory treatments for cancer. Meanwhile, the respiratory diseases segment is set to witness the fastest growth, influenced by the growing burden of respiratory conditions worldwide. In the realm of end-user segments, hospitals have captured the lion's share of revenue, buttressed by the high adoption rate of immunomodulatory therapies and the availability of state-of-the-art facilities. Simultaneously, homecare solutions are gaining rapid traction, predicted to grow at the fastest CAGR, propelled by the demand for convenient, at-home healthcare services.
Geographical Outlook
Geographically, North America continues to be the frontrunner, benefiting from its robust healthcare infrastructure and leading-edge medical technologies. In contrast, the Asia Pacific region is identified as the fastest-growing market, fueled by its burgeoning economies, increasing urbanization, and strategic governmental investments in healthcare development. The FDA's designation of Novartis's Cosentyx as a breakthrough therapy for hidradenitis suppurativa exemplifies the innovative strides in treatment within the region.
Companies Featured
- Amgen Inc.
- AbbVie Inc.
- Bristol Myers Squibb Company
- Novartis International AG
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Merck & Co. Inc.
- Pfizer Inc.
- Sanofi
- GlaxoSmithKline plc
- Eli Lilly and Company
- AstraZeneca plc
- Biogen Inc.
- Genentech Inc.
- Takeda Pharmaceutical Company Limited.
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