by The global Immunotherapy Drugs Market is estimated to be valued at US$ 234.85 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Immunotherapy drugs help boost the body’s own immune system to fight cancer. These are medicines that help strengthen the body’s ability to identify and attack cancer cells. They target specific molecules on cancer cells or immune system cells to improve immune response. The growing prevalence of cancer and increasing demand for novel biological treatment options are driving the need for immunotherapy drugs.
Market key trends:
One of the key trends in the immunotherapy drugs market is the increasing focus on combination therapies. Combination therapy involves using two or more treatment modalities together to enhance treatment effectiveness. Many immunotherapy drug manufacturers are focusing on developing combination drug therapies with other treatment types such as chemotherapy, targeted therapy, and radiation therapy. This is because combined immunotherapies often produce better clinical outcomes than monotherapies. For instance, the combination of the immunotherapy drug Opdivo with Yervoy has shown improved survival rates in advanced melanoma.
Segment Analysis
The global Immunotherapy drugs market is segmented into cancer immunotherapy drugs, autoimmune & inflammatory diseases immunotherapy drugs, infectious diseases immunotherapy drugs and transplant rejection immunotherapy drugs. Cancer immunotherapy drugs is expected to dominate the market over the forecast period. Cancer immunotherapy is an emerging approach for treating cancer by boosting the body’s natural defenses to fight the disease. Several immunotherapy drugs have been approved and entered the market in recent years for treating different cancer types.
Key Takeaways
Global Immunotherapy Drugs Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence of cancer and autoimmune diseases across the globe. North America is expected to dominate the global Immunotherapy drugs market over the forecast period owing to presence of major players, increasing healthcare spending and growing research & development activities in the region.
The global Immunotherapy Drugs market size is expected to reach US$ 234.85 Bn by 2023. The United States holds maximum share in the North America immunotherapy drugs market due to increasing adoption of immunotherapy drugs for treatment of cancer and autoimmune diseases. Europe is expected to hold the second largest share in the global immunotherapy drugs market due to rising government support for research & development and medical technologies.
Key players operating in the Immunotherapy drugs market are F. Hoffmann-La Roche AG, Merck Group, Bristol Myers Squibb, GlaxoSmithKline, AstraZeneca, Novartis, Janssen Pharmaceuticals, among others. Major players are focusing on research and development activities to develop innovative immunotherapy drugs for treatment of various types of cancer and other diseases.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
