Pune, India, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The global immunology market size is expected to showcase exponential growth by reaching USD 158.69 billion by 2028 while exhibiting a CAGR of 8.1% between 2021 and 2028. Fortune Business Insights in its report, titled “Immunology Market, 2021-2028.”, mentions that the market stood at USD 85.74 billion in 2020. Factors such as the increasing demand for biosimilars worldwide will boost the demand for the product during the forecast period.
The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
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Immunology Market Report Scope & Segmentation :
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 8.1% |
| 2028 Value Projection | USD 158.79 Billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 92.00 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 149 |
DRIVING FACTORS
Increasing Adoption of Biosimilars to Aid Growth
In February 2021, Sandoz Canada introduced adalimumab (HUMIRA) biosimilar, Hyrimoz, in Canada. The company informs that the drug has received approval and provides high efficacy in treating autoimmune diseases such as rheumatoid arthritis, psoriatic arthritis, adult Crohn’s disease, and adult uveitis, among others. The rising number of successful clinical trials is driving the demand for biological drugs leading several companies to invest in R&D to develop biosimilars, an affordable and effective imitation of the biological drugs. Therefore, the increasing demand for such products is expected to favor the global immunology market growth during the forecast period.
Market Segmentation:
On the basis of drug class, the market is segregated into monoclonal antibody (mAb), fusion proteins, immunosuppressants, polyclonal antibody (pAb), and others.
- Based on drug class, the monoclonal antibody (mAb) held a global immunology market share of about 64.5% in 2020 and is expected to dominate in the forthcoming years. This dominance is attributable to the increasing number of approvals for mAb by the government bodies to treat chronic ailments globally.
Based on disease indication, the market is classified into rheumatoid arthritis, psoriatic arthritis, plaque psoriasis, ankylosing spondylitis, inflammatory bowel disease, prophylaxis of organ rejection, and others. Moreover, on the basis of the distribution channel, the market is trifurcated into hospital pharmacies, retail pharmacies, and online pharmacies. Lastly, based on region, the market is categorized into North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa.
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What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
REGIONAL INSIGHTS
North America - North America stood at USD 46.17 billion in 2020 and is likely to hold the highest position in the market during the forecast period. This is due to the increasing prevalence of chronic ailments and the higher diagnosis rate of the patients that will boost the adoption of advanced immunology drugs in the region.
Europe – The market in the region is expected to experience considerable growth backed by the increasing prevalence of chronic disorders such as rheumatoid arthritis that propels the demand for effective immunology therapies and drugs in the region between 2021 and 2028. For instance, according to the British Society for Immunology, around 400,000 people in the U.K. suffered from rheumatoid arthritis in 2018.
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COMPETITIVE LANDSCAPE
Key Players Adopt Strategies Such as Merger and Acquisition to Brighten Their Market Prospects
The market is witnessing massive competition among the players that are highly focused on strengthening the footprint. These players are acquiring other smaller enterprises to expand their immunology drugs portfolio and further boost sales revenue. Furthermore, the other key companies are leveraging the opportunities provided by the market by adopting proactive organic and inorganic strategies that will aid in maintaining their presence in the forthcoming years.
Industry Development:
- May 2020 - AbbVie, Inc. announced the acquisition of Allergan Plc with an aim to expand its presence and strengthen its position in the pharmaceuticals sector across the globe.
List of the Companies Profiled in the Global Market:
- Pfizer Inc. (New York, U.S.)
- F. Hoffmann-La Roche Ltd. (Basel, Switzerland)
- AbbVie, Inc. (North Chicago, U.S.)
- Bristol-Myers Squibb Company (New York City, U.S.)
- Merck Sharp & Dohme Corp. (New Jersey, U.S.)
- Novartis AG (Basel, Switzerland)
- Janssen Global Services, LLC (Raritan, New Jersey, U.S.)
- Amgen Inc. (California, U.S.)
- Astellas Pharma Inc. (Tokyo, Japan)
- UCB SA (Brussels, Belgium)
- Eli Lilly and Company (Indianapolis, U.S.)
- Other Prominent Players
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Table of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Autoimmune and Immunological Disorders by Key Countries
- Overview of Regulatory Scenario by Key Regions
- Pipeline Analysis
- Key Industry Developments
- Overview of Current Advances in R&D for Immunology
- Overview of New Product Launches
- Impact of COVID-19 on Immunology Market
- Global Immunology Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Monoclonal Antibody (mAb)
- Fusion Proteins
- Immunosuppressants
- Polyclonal Antibody (pAb)
- Others
- Market Analysis, Insights and Forecast – By Disease Indication
- Rheumatoid Arthritis
- Psoriatic Arthritis
- Plaque Psoriasis
- Ankylosing Spondylitis
- Inflammatory Bowel Disease
- Prophylaxis of Organ Rejection
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Immunology Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Monoclonal Antibody (mAb)
- Fusion Proteins
- Immunosuppressants
- Polyclonal Antibody (pAb)
- Others
- Market Analysis, Insights and Forecast – By Disease Indication
- Rheumatoid Arthritis
- Psoriatic Arthritis
- Plaque Psoriasis
- Ankylosing Spondylitis
- Inflammatory Bowel Disease
- Prophylaxis of Organ Rejection
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
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