by Immuno-oncology drugs are drugs that help boost the body’s natural defenses to fight cancer. These drugs work with the body’s immune system to target and destroy cancer cells. Immuno-oncology drugs are replacing traditional cancer treatment methods and help in enhancing the survival rates of cancer patients.
The global India Immuno-Oncology Drugs Market is estimated to be valued at US$ 338.98 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the key trends propelling the growth of the India immuno-oncology drugs market is the increasing adoption of targeted therapies. Targeted therapies focuses on specific vulnerabilities within tumor cells. These drugs specifically target pathways that fuels cancer cell growth and survival. For example, checkpoint blockade inhibitors that target PD-1/PD-L1 or CTLA-4 pathways. Targeted therapies offer several advantages over traditional cancer treatments such as improved survival rates, less severe side effects, and personalized treatment approach. The increasing preference for targeted therapies over traditional therapies is augmenting the growth of the immuno-oncology drugs market in India.
SWOT Analysis
Strength: India’s growing healthcare expenditure and patient awareness regarding cancer treatment are expected to boost market growth. The country has seen increased adoption of advanced therapies in the recent past.
Weakness: High cost of immuno-oncology drugs poses affordability issues for a large section of patients in India. Limited healthcare infrastructure in some parts of the country also acts as a barrier.
Opportunity: Rising incidence of cancer coupled with an expanding patient pool indicates significant future opportunities. The government’s efforts to strengthen healthcare may aid wider access to novel therapies.
Threats: Stringent regulatory approvals and reimbursement policies delay market entry of new drugs. Patent expirations of blockbuster medicines enhance competition.
Key Takeaways
The global India Immuno-Oncology Drugs Market Growth is expected to witness high growth. The global India Immuno-Oncology Drugs Market is estimated to be valued at US$ 338.98 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030.
Regional analysis: The Indian immuno-oncology drugs market is dominated by major cities like Mumbai, Delhi, and Bengaluru which house advanced cancer care facilities. Northern and Western regions contribute significantly with states like Maharashtra and the National Capital Region being major revenue generators. Southern India is emerging as a fast growing area favored by supportive governmental initiatives and a swelling patient pool.
Key players: Key players operating in the India Immuno-Oncology Drugs Market are Fort Dearborn, Multi Color Corporation and Mondi Group. They have established prominent positions through extensive R&D focused portfolios and strategic tie-ups to address the specific needs of the Indian population. These companies actively conduct awareness campaigns as immunotherapy adoption is lower compared to conventional treatment options.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
