$227.6 Billion Immunotherapy Drugs Market, 2023 - Thriving Demand & Development of mAbs Is Propelling Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 27, 2019--The “Immunotherapy Drugs Market by Type, by Therapy Area, by End User, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023” report has been added to ResearchAndMarkets.com’s offering.
Immunotherapy drugs market is forecasted to attain a size of $227.6 billion by 2023.
With the thriving demand and increase in the development of monoclonal antibodies (mAbs), increasing prevalence of chronic diseases, and growing implementation of target therapy, the market is expected to progress significantly in the coming years.
Based on type, the immunotherapy drugs market has been categorized into checkpoint inhibitors and vaccines. Among these two, the checkpoint inhibitors category generated higher revenue in the historical period, and is expected to generate more than $100 billion revenue by 2023. Increasing development of mAbs, and rise in the adoption of chimeric antigen receptor (CAR) T-cell therapy are the major factors contributing to the larger share of this category.
Vaccines are further sub-categorized on the basis of type and brand. The two types of vaccines available in the immunotherapy drugs market are preventive and therapeutic vaccines. Among these, preventive vaccines held a larger share in the market. Among the various brand of vaccines available, Prevnar/Prevenar 13 is one of the bestseller vaccines brands and generated the highest revenue of $5.6 billion in the market, in 2017.
Immunotherapy drugs are majorly used for the treatment of cancer, autoimmune and inflammatory diseases, and infectious diseases. Cancer held the largest share in the immunotherapy drugs market for therapy area, in 2017. This can be ascribed to the increasing prevalence of cancer across the globe.
On the basis of end user, the immunotherapy drugs market has been categorized into hospitals and clinics, and individuals. Of these, hospitals and clinics are expected to demonstrate faster growth, at a CAGR of 14% during the forecast period. This can be attributed to the increasing patient base in hospitals and clinics, which leads to high requirement of immunotherapy drugs in this end-user category.
The APAC immunotherapy drugs market is expected to observe the fastest growth, at a CAGR of 14.3% during the forecast period, mainly on account of increasing healthcare expenditure for the improvement of healthcare infrastructure and growing research and development (R&D) activities in the region.
The players in the immunotherapy drugs industry are enhancing their product portfolio through product launches and also have received approvals from government organizations for its application. For instance, in September 2018, Sanofi received approval for Libyato for the treatment of patients with metastatic cutaneous squamous cell carcinoma (CSCC) or locally advanced CSCC, who are not candidates for curative surgery or curative radiation.
Likewise, in September 2018, AstraZeneca plc received the U.S. Food and Drug Administration (USFDA) approval for Lumoxiti (moxetumomab pasudotox-tdfk). AstraZeneca plc developed Lumoxiti together with MedImmune LLC, for the treatment of adult patients with relapsed or refractory hairy cell leukaemia (HCL), who have received at least two prior systemic therapies, including purine nucleoside analog treatment.
F. Hoffmann-La Roche Ltd., AbbVie Inc., Merck & Co. Inc., GlaxoSmithKline plc, Novartis International AG, Johnson & Johnson, Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Medigene AG, C. H. Boehringer Sohn AG & Co. KG, Takeda Pharmaceutical Company Limited, Celgene Corporation, and Pfizer Inc. are other key players present in the immunotherapy drugs market.
The scope of study also includes the epidemiology coverage for cancer, autoimmune and inflammatory diseases, and infectious diseases; pricing and reimbursement scenario for immunotherapy drugs; research and funding initiatives for immunotherapy drugs; and list of immunotherapy drugs in the pipeline of the key market players.
- Surge in the Prevalence of Chronic Diseases
- Thriving Demand & Development of mAbs
- Rise in the Implementation of Target Therapy
- Increasing Availability of Biosimilars
- High Cost of Immunotherapy Treatment
- Eli Lilly and Company
- Novartis AG
- AbbVie Inc.
- F. Hoffmann-La Roche Ltd.
- AstraZeneca PLC
- Merck & Co. Inc.
- GlaxoSmithKline PLC
- Bristol-Myers Squibb Company
- Amgen Inc.
- C. H. Boehringer Sohn AG & Co. KG
- Celgene Corporation
- Johnson & Johnson
- Takeda Pharmaceutical Company Limited
- Pfizer Inc.
For more information about this report visit https://www.researchandmarkets.com/research/fzx85k/227_6_billion?w=4
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Related Topics:Oncology Drugs
INDUSTRY KEYWORD: HEALTH ONCOLOGY PHARMACEUTICAL
SOURCE: Research and Markets
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PUB: 02/27/2019 07:41 AM/DISC: 02/27/2019 07:40 AM