Global Immunotherapy Drugs Market to Reach Around USD 330.4 Billion by 2025

The global immunotherapy drugs market was valued at approximately USD 138.4 billion in 2018 and is expected to generate around USD 330.4 billion by 2025, at a CAGR of around 13.24 percent between 2019 and 2025. Immunotherapy, also referred to as biological therapy, uses the body’s natural defense system to fight cancer cells and other infections. Drugs used in immunotherapy either suppress or enhance the body’s immune system. Immunotherapy drugs generate an immune response and activate the production of antibodies. Immunotherapy offers lesser side effects over traditional therapies, such as chemotherapy, surgery, radiation therapy etc., as it uses the body’s natural defense mechanism. Immunotherapy seems to be a promising treatment option for complex disorders, such as cancer and autoimmune diseases.

The prevalence of cancer is growing worldwide and it was the second leading cause of death in the year 2018. As per the World Health Organization (WHO) 2018 estimates, there were about 18.1 million new cancer cases and 9.6 million global deaths caused by cancer. The incidence of lifestyle-related disorders is rapidly increasing, which, in turn, is likely to drive the demand for immunotherapy drugs market in the future. The increasing preference for targeted therapy with lesser side-effects over traditional therapy is anticipated to further fuel the immunotherapy drugs market in the future. Additionally, the emergence of new biosimilars, rapid drug approvals, and increased demand for monoclonal antibodies (mAbs) are projected to boost the immunotherapy drugs market growth over the estimated timeframe. Other factors likely to contribute toward the immunotherapy drugs market growth are rising geriatric population base, increasing health awareness, increased disposable income and healthcare spending, and favorable reimbursement policies.

The global immunotherapy drugs market is segmented based on drug type, therapeutic application, and end-user. By drug type, the market is segmented into adult vaccines, monoclonal antibodies, checkpoint inhibitors, interleukins, interferon alpha and beta, and others. Preventive vaccines and therapeutic vaccines comprise the adult vaccines segment. Monoclonal antibodies drug type segment held the largest share of the global immunotherapy drug market in 2017, owing to the preference for targeted therapy with lesser side effects. By therapeutic application, this global market is segmented into autoimmune and inflammatory diseases, cancer, infectious diseases, and others. Cancer segment is further divided into the solid tumor and malignant. The cancer therapeutic application segment held the largest share of global immunotherapy drugs market, owing to increasing cancer prevalence globally. Hospitals, clinics, and others form the end-user segment of the global immunotherapy drugs market. Hospitals dominated the immunotherapy drugs market in 2017 and are expected to lead in the future as well.

North America, Asia Pacific, the Middle East, and Africa, Europe, and Latin America form the regional segment of the global immunotherapy drugs market. North America dominated the global immunotherapy drugs market in 2018 with a revenue share of about 40 percent. This can be attributed to the presence of key players, increasing preference for targeted immunotherapy over other therapies, favorable reimbursement policies, and developed healthcare infrastructure. North America is likely to maintain its top position. Europe is the second largest regional market for immunotherapy drugs in 2018. The Asia Pacific region is estimated to register the highest CAGR, owing to increasing health awareness, growing healthcare spending, and rising disposable income. The Middle Eastern and African region is likely to experience noticeable growth in the years ahead. Latin America is projected to exhibit a moderate rate of growth for immunotherapy drugs market.

Some key players of the immunotherapy drugs market include F. Hoffmann-La Roche AG, Amgen, Inc., Novartis International AG, AbbVie, Inc., Merck & Co., Inc., GlaxoSmithKline, Eli Lilly and Company, Bristol-Myers Squibb, AstraZeneca plc, and Johnson & Johnson, among others. – Zion Market Research

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