PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1520994
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1520994
Immunotherapy drugs are designed to enhance the immune response or modulate the immune system's regulatory mechanisms, thereby enabling the body to effectively target and eliminate disease-causing agents or cellsThe immunotherapy drugs market is projected to grow from USD 285.3 billion in 2024 to USD 580.6 billion by 2029, reflecting a compound annual growth rate (CAGR) of 15.3%. This growth is driven by technological advancements in antibody engineering, increasing demand for antibody therapies in clinical cancer treatment, and a growing preference for personalized medicines and targeted therapies. However, the market faces challenges such as the complexities involved in developing antibody therapeutics.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | Type, Application, Route of Administration, End User, And Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
The Antibody drugs segment maintains major market share in the forecast period.
Based on type, the immunotherapy drugs market is divided into antibody drugs, inhibitor drugs, interferons & interleukins, cancer vaccines, and other immunotherapy drugs, which include oncolytic virus therapy and t-cell therapy. Antibody drugs hold the major market share. Increasing cancer incidence, the growing adoption of biological therapies, heightened investment in R&D, and supportive government policies are anticipated to propel market growth.
The Cancer segment is anticipated to dominate Immunotherapy Drugs Market through 2023-2029.
Based on applications, the immunotherapy drugs market is divided into cancer, autoimmune & inflammatory diseases, hematology, osteology, neurology, and other applications, including ophthalmology, dermatology, and cardiovascular diseases. Cancer commanded the largest market share in 2023. Elevated cancer rates, increased adoption of biological therapies, substantial R&D investment, and favorable government policies are expected to drive market growth during the forecast period. Companies in the immunotherapy drugs sector are exemplifying innovation through the development of new therapies, strategic collaborations, and enhanced spending on clinical research to explore immunotherapy treatments for cancer. These efforts aim to boost the immune system's capability to fight cancer, offering new hope and improved patient outcomes.
The Intravenous Route segment is anticipated to grow at the fastest pace throughout the forecast period.
Based on the route of administration, the immunotherapy drugs market is broadly segmented into intravenous, subcutaneous, and other routes of administration (intravitreal and intramuscular). In 2023, the intravenous route of administration segment accounted for the largest share of the immunotherapy drugs market. This segment is also expected to grow at the highest CAGR during the forecast period. The large share and high growth rate are attributed to the growing preference for intravenous routes owing to its direct delivery into the bloodstream, ensuring rapid and consistent therapeutic effects for several conditions, including cancer and autoimmune diseases.
Hospitals segment generated the highest revenue in 2024 in the market.
Based on end users, the immunotherapy drugs market is broadly segmented into hospitals, long-term care facilities, and other end users (specialty care centers). In 2023, the hospitals segment commanded the largest share of the immunotherapy drugs market. Hospitals extensively use mAbs for their targeted therapy, rapid diagnostic applications, and efficacy in treating several disease indications, including cancer, autoimmune disorders, and infectious diseases.
The North America accounted for the largest share in the immunotherapy drugs market.
In 2023, North America accounted for the largest share of the global immunotherapy drugs market. The growth in the North American market can be attributed to rising immunotherapy research, the expansion of the healthcare sector, growing cancer prevalence, and the increasing approval and adoption of immunotherapy drugs for treating cancer and other chronic diseases. North America has witnessed significant growth in medical research advancements, growing clinical trials, and the developing biopharmaceutical industry. With increased research-driven activities and a high prevalence of cancer and chronic diseases, the demand for immunotherapies in North America is expected to rise significantly.
List of Companies Profiled in the Report
Research Coverage
This report studies the Immunotherapy Drugs market based on type, application, route of administration, end user, and region. The report also analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micro markets with respect to their growth trends, prospects, and contributions to the total Immunotherapy Drugs market. The report forecasts the revenue of the market segments with respect to four major regions.
022-2029 (USD BILLION)