Pune, India, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The global Immunology Market Size was valued at USD 97.93 billion in 2021 and is projected to USD 184.21 billion by 2029, exhibiting a CAGR of 8.5% during the forecast period. Increasing biosimilars penetration and substantial Research & Development (R&D) investments by key players will propel the market growth.
This information is provided by Fortune Business Insights™ in its research report titled Immunology Market, 2023-2030.
Key Industry Development-
- December 2021- Amgen Inc. received the U.S. FDA approval for its Otezla immunology drug. The product is designed to cure plaque among adults.
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Key Takeaways –
- Immunology Market size in North America was USD 54.04 billion in 2021
- Rising Prevalence of Autoimmune Disorders and Increasing Novel Therapies to Propel Market Growth
- Increasing demand drives market players' efforts to develop and launch new drugs.
- The monoclonal antibody (mAb) segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- AbbVie, Inc. (U.S.)
- Janssen Global Services, LLC (U.S.)
- Eli Lilly and Company (U.S.)
- Novartis AG (Switzerland)
- Pfizer Inc. (U.S.)
- Bristol-Myers Squibb Company (U.S.)
- Merck Sharp & Dohme Corp. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Amgen Inc. (U.S.)
- Astellas Pharma Inc. (Japan)
- UCB SA (Belgium)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2023 to 2030 CAGR | 8.5% |
| 2029 Value Projection | USD 184.21 Billion |
| Base Year | 2021 |
| Immunology Market Size in 2021 | USD 97.93 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 147 |
| Segments covered | Drug Class, Disease Indication and Geography |
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Drivers & Restraints:
Increasing Cases of Autoimmune Disorders to Foster Industry Growth
Immunology drugs are medicines that are capable of suppressing and elevating the immune system. Rising cases of autoimmune disorders are likely to fuel market progress. For example, as per National Stem Cell Foundation’s research, an estimated 4% of the global population suffers from one of more than 80 autoimmune diseases. Furthermore, the rising demand for these drugs among the global population and rising announcement of better and efficient drugs are expected to enhance the adoption of such drugs. Moreover, the increasing adoption of autoimmune drugs in developed and developing countries is expected to drive the immunology market growth.
However, high treatment costs and negative effects of the product may hinder market progress.
Segmentation:
By Drug Class
- Monoclonal Antibody
- Immunosuppressants
- Fusion Proteins
- Others
By Disease Indication
- Rheumatoid Arthritis
- Psoriatic Arthritis
- Plaque Psoriasis
- Ankylosing Spondylitis
- Inflammatory Bowel Disease
- Prophylaxis of Organ Rejection
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Regional Insights:
Presence of Numerous Well-Established Healthcare Infrastructure to Propel Market Progress in North America
North America is expected to dominate the immunology market share due to the presence of a well-established healthcare infrastructure. The market in North America stood at USD 54.04 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. Furthermore, higher diagnoses rate among patients in the region is likely to facilitate industry growth.
In Europe, increasing prevalence of autoimmune disorders is likely to facilitate the demand for immunology drugs. This factor is expected to boost market progress in the region.
In Asia Pacific, increasing number of patients suffering from numerous autoimmune diseases is expected to foster the demand for immunology. Furthermore, the increasing approvals and launch initiatives by key players is expected to fuel market growth.
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Competitive Landscape:
Major Players Complete Acquisitions to Reinforce their Product Offerings
The prominent companies operating in the market deploy acquisitions to enhance their product offerings. For example, Pfizer completed the acquisition of Arena Pharmaceuticals in February 2022. The organization developed effective therapies to cure numerous immune-inflammatory disorders. This strategy allowed Pfizer to reinforce its product offerings and enhance its brand image. Further, numerous key players deploy research and development, mergers, partnerships, innovations, novel product announcements, and industrial automation to enhance their market position.
FAQs
How big is the Immunology Market?
Immunology Market size was USD 97.93 billion in 2021. It is expected to reach USD 184.21 billion in 2029.
How fast is the Immunology Market growing?
The Immunology Market will exhibit a CAGR of 8.5% during the forecast period, 2023-2030.
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Rheumatoid Arthritis Therapeutics Market Size, Share, Opportunities & Analysis
Inflammatory Bowel Disease Treatment Market Analysis, Global Size and Industry Share Forecast
Psoriasis Treatment Market Size, Share, Opportunities and Forecast
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