PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532834
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532834
Immunotherapy Drugs Market size was valued at USD 278,897.78 million in 2023, expanding at a CAGR of 14.92% from 2024 to 2032.
The rising number of cancer cases worldwide is a major driver for the growth of immunotherapy drugs. Immunotherapies offer new hope for patients with various types of cancer. Continuous R&D in immunotherapy has led to the development of more effective and targeted therapies, including checkpoint inhibitors, CAR-T cell therapies, and monoclonal antibodies. However, some immunotherapies can cause severe side effects, such as cytokine release syndrome or autoimmune reactions, which need careful management. The production of some immunotherapy drugs, like CAR-T cell therapies, involves complex and costly manufacturing processes. Furthermore, strategic collaborations between pharmaceutical companies, research institutions, and biotech firms can accelerate the development of new therapies and expand market reach.
Immunotherapy Drugs Market- Market Dynamics
The increasing number of cancer cases worldwide
The growing incidence of cancer drives demand for effective treatments. Immunotherapy, which harnesses the body's immune system to fight cancer, is becoming a popular choice, leading to an increased market for these drugs. The need for new and more effective treatments spurs investment in research and development (R&D). This includes funding for clinical trials, exploring new immunotherapy approaches, and developing novel drugs. Companies are expanding their product portfolios and entering new markets to meet the growing demand. This includes developing therapies for different types of cancer and creating combination treatments that enhance the effectiveness of immunotherapies. For instance, To create novel, potentially effective cancer medications, researchers at The Institute of Cancer Research, London, are collaborating with NeoPhore, a small molecule immuno-oncology business, to identify neoantigens. An ICR team under the direction of Professor Chris Lord will examine how NeoPhore's inhibitors affect tumors in the lab as part of a new strategic research cooperation.
Immunotherapy Drugs Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 14.92% over the forecast period (2024-2032)
Based on type segmentation, Monoclonal Antibodies were predicted to show maximum market share in the year 2023
Based on product segmentation, Biologics was the leading type in 2023
Based on distribution segmentation, Retail Pharmacies was the leading type in 2023
Based on end-user segmentation, Hospitals was the leading type in 2023
based on region, North America was the leading revenue generator in 2023
The Global Immunotherapy Drugs Market is segmented based on Type, Product, Distribution, Route of Administration, End User, and Region.
The market is divided into six categories based on product type: Monoclonal Antibodies, Vaccines, Checkpoint Inhibitors, Non-Specific Immunotherapies, Oncolytic Virus Immunotherapy, and T-Cell Therapy. mAbs are designed to bind specifically to certain antigens, such as proteins on the surface of cancer cells, pathogens, or inflammatory cells. This targeting minimizes damage to healthy cells and tissues, making treatments more effective and reducing side effects. They provide high specificity in treatment, which helps in accurately diagnosing and treating diseases.
The market is divided into five categories based on application: Hospitals, Clinics, Cancer Research Centers, Ambulatory Surgical Centers, and Homecare Settings. Immunotherapy drugs are designed to enhance or restore the body's natural immune system's ability to recognize and destroy cancer cells. This targeted approach can be more effective and less damaging to healthy cells compared to traditional treatments like chemotherapy and radiation. Immunotherapy can be tailored to individual patients based on the specific characteristics of their cancer. This personalized approach can improve treatment outcomes and reduce side effects.
Immunotherapy Drugs Market- Geographical Insights
The immunotherapy drugs market is a rapidly growing sector in the pharmaceutical industry, with significant activity and development occurring across North American regions. The U.S. is a major player in the immunotherapy market due to its advanced healthcare infrastructure, substantial R&D investments, and high prevalence of cancer. The FDA's approval of numerous immunotherapy drugs and the strong presence of biotech and pharmaceutical companies drive growth. Countries like Germany, France, and the UK are prominent in the immunotherapy market due to their strong healthcare systems and active research institutions. The European Medicines Agency (EMA) plays a crucial role in drug approvals and market access. Furthermore, India is an emerging market with growing interest in immunotherapy, driven by increasing cancer incidence and improving healthcare infrastructure. In October 2023, India's counterpart to the US Food and Drug Administration, the Central Drugs Standard Control Organization, made NexCAR19 India's first approved CAR-T cell therapy.
Leading players in the immunotherapy drugs market Bristol-Myers Squibb, Merck & Co., Roche, Pfizer, Novartis, and Amgen, etc. The immunotherapy drugs market is diverse and includes several key players across various segments, including monoclonal antibodies, checkpoint inhibitors, CAR-T cell therapies, and other innovative treatments. Merck & Co. is a market leader in PD-1/PD-L1 inhibitors, with extensive clinical trial data, and broad indications. Pfizer has expertise in both immunotherapy and targeted therapies and strong clinical research. In February 2024, A team of UF Health Cancer Center researchers developed a first-of-its-kind compound that could open a new avenue for using immunotherapy to treat various types of cancer. In addition, THOUSAND OAKS, Calif. and KENILWORTH, N.J., announced a cancer immunotherapy collaboration to support a Phase 1b/3 study investigating BLINCYTO in combination with KEYTRUDA in patients with diffuse large B-cell lymphoma (DLBCL), which is the most common type of non-Hodgkin lymphoma (NHL). The market is characterized by rapid innovation, with a focus on developing new and more effective therapies, including combination therapies and personalized treatments.
In April 2024, BostonGene and Saga University announced the launch of a collaboration aimed at discovering biomarkers for immunotherapy (IO) treatment response and treatment-related toxicity in advanced non-small cell lung cancer (NSCLC) patients. EGFR-TKI treatment effectively targets EGFR mutation-positive NSCLC. Still, acquired resistance often leads to recurrence within 1 to 2 years, presenting a challenge for post-treatment optimization.
In June 2022, The Mark Foundation for Cancer Research expanded its partnership with the Johns Hopkins University to accelerate groundbreaking immunotherapy research. The collaboration with the Bloomberg~Kimmel Institute allows us to develop the next-generation genomics and imaging platforms for cancer immunotherapy necessary to save lives.
GLOBAL IMMUNOTHERAPY DRUGS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Bristol-Myers Squibb
Merck & Co.
Roche
Pfizer
Novartis
Gilead Sciences
Amgen
Sanofi
Regeneron Pharmaceuticals
Bluebird Bio
Cellectis
Others