PUBLISHER: Grand View Research | PRODUCT CODE: 1632660
PUBLISHER: Grand View Research | PRODUCT CODE: 1632660
The global immunotherapy drugs market size is estimated to reach USD 577.2 billion by 2030, expanding at a CAGR of 13.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. The key factors contributing to the lucrative growth of the industry include increased awareness about chronic diseases including cancer, autoimmune diseases, inflammatory diseases, and infectious diseases, coupled with supportive government policies for drug approval. The rising adoption of targeted therapies for chronic disease treatment is expected to increase inclination toward immunotherapy drugs, thereby driving the industry during the forecast period.
For instance, in May 2022, AstraZeneca and Daiichi Sankyo's Enhertu (trastuzumab) received U.S. approval for treating HER2-positive breast cancer. Other targeted immunotherapy drugs include Kadcyla (trastuzumab emtansine) and Tecentriq (atezolizumab). In June 2022, F. Hoffmann-La Roche Ltd. received EU approval for Tecentriq as an adjuvant treatment for NSCLC. In addition, developing healthcare infrastructure in low- and middle-income countries coupled with increased research & development by key players is anticipated to contribute to the industry growth. For instance, in December 2021, Novartis AG collaborated with BeiGene, Ltd. for ociperlimab (BGB-A1217), therefore expanding its R&D activities in immune-oncology.
In August 2021, Pfizer, Inc. shared positive results from phase 2b/3 clinical trial of ritlecitinib for treating alopecia areata. Moreover, the rise in the incidence of cancer cases worldwide is expected to drive the demand for immunotherapy drugs. As per Globocan reports, an estimated 19.3 million new oncology cases were diagnosed in 2020. Moreover, according to the European Society of Medical Oncology, cancer incidence in Europe is anticipated to rise by 21% between 2020 and 2040. Thus, approvals of various immunotherapy drugs for cancer treatment are predicted to increase industry growth.