Pune, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Immunology Market Analysis:
“The Immunology Market Size was valued at USD 97.58 Billion in 2023 and is expected to reach USD 254.23 Billion by 2032 and grow at a CAGR of 11.8% over the forecast period 2024-2032.”
The rising demand for biosimilars due to their similar efficacy and cheaper alternatives is significantly propelling the adoption of biosimilars in developed and developing regions. The higher cost of biologics hinders the availability and affordability of drugs for the patient population in developing regions. For example, Neulasta, a drug developed by Amgen to fight off infections for chemotherapy patients, costs over USD 10,000 per ml; whereas, its biosimilar, Ziexentzo, costs around USD 6500 per ml.
Moreover, market players are introducing cheaper unbranded biosimilars at cheaper rates, making it economical for the patient population to receive treatment. For example, in October 2023, Boehringer Ingelheim introduced the unbranded version of the biosimilar of Humira by AbbVie and was selling it at 81.0% cheaper rates compared with the latter.
However, the expiry of the patent of the top-selling biological drugs presents an opportunity for the key market players to invest in the biosimilars’ research and development, thereby fostering the market growth. For example, in January 2023, AbbVie’s top-selling biologic drug to treat rheumatoid arthritis, Humira, lost its patent after being in the market for 20 years. These are the significant trends in the global immunology market, which are expected to drive market growth.
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Major Players Analysis Listed in this Report are:
- AbbVie Inc.
- Amgen Inc.
- Astellas Pharma Inc.
- Bristol-Myers Squibb
- Dohme Corp.
- Eli Lilly and Company
- Gilead Sciences, Inc.
- Janssen Global Services LLC
- Johnson & Johnson
- Merck & Co., Inc.
- Novartis International AG
- Pfizer Inc.
- Roche Holding AG
- Sanofi S.A.
Immunology Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 97.58 Billion |
| Market Size by 2032 | US$ 254.23 Billion |
| CAGR | CAGR of 11.8% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
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Segmentation Dynamics
On the basis of distribution channel, immunology market is segmented into Hospital Pharmacies, Retail pharmacies and Online pharmacies. In 2023, the hospital pharmacies segment occupied a major share of global market equivalent to 54%. The main reason was an increasing number of hospitalized patients with immunological or autoimmune diseases requiring medical care and already existing healthcare infrastructure.
Online pharmacies segment to exhibit fastest CAGR during forecast period. Regulatory developments in the online sales of prescription drugs across developed economies and arrival of major e-pharmacy players, such as DocMorris in Germany and Lloyds Pharmacy in U.K. are changing preferences among patients for an online pharmacy.
Immunology Market Key Segmentation:
By Drug Class
- Monoclonal Antibody (mAb)
- Fusion Proteins
- Immunosuppressants
- Others
By 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
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Regional Insights
North America accounted for a 32% of market share in 2023. The immunology regions enjoyed prime share of the market and is expected to expand at a substantial CAGR during forecast period. The dominance of the region is due to a greater burden so chronic diseases, larger requirement for treatment and diagnosis of such ailments in the patient population of various countries within North America, coupled with presence well-established healthcare infrastructure.
Europe is expected to have a noteworthy CAGR among other regions during the forecast period due to increasing prevalence of autoimmune diseases and drug approvals in Europe. For example, an article published in 2021 by the University of London on autoimmune diseases reports that this is a staged disease and affects about 7.0% or more than four million people living across U.K.
Emerging Trends:
- Immuno-Oncology: Growth in cancer treatments that harness the immune system to target tumors.
- Personalized Medicine: Tailoring treatments based on individual genetic profiles and immune responses.
- Advances in Biologics: Development of new biologic drugs and biosimilars.
- Digital Health: Integration of digital health tools for monitoring and managing immune system disorders.
Recent Developments
- Pfizer completed the acquisition of Arena Pharmaceuticals in February 2022. The company is developing novel potential treatments for immune-inflammatory diseases in clinical stages. This effectively expanded the company's therapeutic immunological drug portfolio.
- In November 2023, UCB's Long-term Phase 2b Study of Treatment with BIMZELX for ankylosing spondylitis had shown improvements in treating the signs and symptoms of the disease, with up to 5 years' quality of life.
- In November 2023, Novartis AG had announced U.S. Food and Drug Administration (FDA) approval for Cosentyx, it is the only approved treatment for hidradenitis suppurativa.
Key Takeaways
- In 2023, the hospital pharmacies segment accounted for a market share of 54% due to increasing hospitalized patients requiring immunological care.
- North America maintained dominance in the regional market accounting for a market share of 32% back in 2023 with increasing prevalence autoimmune diseases and presence ongoing drug approvals.
- The segment of online pharmacies is expected to register the highest CAGR over the period, driven by evolving regulations which are supporting players in Europe as well as growing popularity and penetration rates for e-pharmacy solutions.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.5 Innovation and R&D, by Drug Class, 2023
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Drug Volume: Production and usage volumes of pharmaceuticals.
5.4 Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients.
6. Competitive Landscape
7. Immunology Market Segmentation, by Drug Class
8. Immunology Market Segmentation, by Indication
9. Immunology Market Segmentation, by Distribution Channel
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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