Immunotherapy Drugs Market is projected to reach USD 274.6 billion by 2025 from USD 163.0 billion in 2020, at a CAGR of 11.0% during the forecast period. The growth of this market is majorly attributed to the increasing adoption of immunotherapy drugs over conventional treatment regimens, the rising prevalence of cancer and autoimmune & infectious diseases, increasing demand for monoclonal antibodies and biosimilars, and fast track approvals from regulatory bodies.
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Browse in-depth TOC on “Immunotherapy Drugs Market”
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Key Market Players
The major players in the global immunotherapy drugs market are F. Hoffmann-La Roche Ltd. (UK), Pfizer Inc. (US), Merck & Co (US), Novartis International AG (UK), Johnson & Johnson (US), Sanofi (France), GlaxoSmithKline Plc (UK), Amgen Inc. (US), AbbVie Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca (UK), and Immatics Biotechnologies (Germany), BioNTech SE, Genmab, Gilead Sciences, NBE Therapeutics, Teva Pharmaceuticals, Bayer, and Bristol-Myers Squibb.
The monoclonal antibodies segment accounted for the largest share of the immunotherapy drugs market, by type
Based on type, the global market is segmented into monoclonal antibodies, checkpoint inhibitors, interferons & interleukins, and other immunotherapies. The monoclonal antibodies segment accounted for the largest share of the global market in 2019. This large share can be attributed to their high specificity and fewer side-effects, increasing focus on personalized medicines, initiatives by industry players, and the rising target disease incidence and patient pool.
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By therapeutic area, cancer accounted for the largest market share
On the basis of therapeutic area, this market is segmented into cancer, autoimmune & inflammatory diseases, infectious diseases, and other therapeutic areas. Cancer accounted for the largest share of the global immunotherapy drugs market, by therapeutic area, in 2019. The large share of this segment can be attributed to the growing prevalence of cancer, rising research activity in this area, and reimbursement coverage for immunotherapies for oncology.
By end user, hospitals to witness the highest growth during the forecast period
On the basis of end users, the global immunotherapy drugs market is broadly segmented into hospitals, clinics, and other end users. Hospitals accounted for the largest share of the global market in 2019. This segment is also estimated to grow at the highest CAGR of 12.1% over the forecast period. The large share of this segment can be attributed to the rising spending by hospitals for immunotherapies and the demand for advanced treatments currently only provided by hospitals.
Recent Developments:
- In 2019, Novartis International AG inaugurated a manufacturing facility for cell and gene therapies in Stein, Switzerland
- In 2019, Amgen launched MVASI (bevacizumab-awwb) and KANJINTI (trastuzumab-anns) in the US
- In 2019, Gilead Sciences, Inc. and Humanigen, Inc. (US) collaborated to jointly conduct a study of lenzilumab with YESCARTA in patients with relapsed or refractory diffuse large B-cell lymphoma
North America dominates the immunotherapy drugs market during the forecast period.
In 2019, North America accounted for the largest share of the immunotherapy drugs market, followed by Europe. The increasing prevalence of cancer, rising demand for quality diagnostics, the introduction of favorable reimbursement policies, and the implementation of favorable initiatives are some major factors driving the growth of the immunotherapy market in North America. However, the Asia Pacific region is expected to grow at the highest rate during the forecast period, owing to factors such as aggressive investments by key market players, increased government spending on healthcare, and rising disposable income of the population.
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