The growth of this market is majorly attributed to the rising prevalence of target diseases, increasing demand for monoclonal antibodies and biosimilars, increasing adoption of immunotherapy drugs over conventional treatments, and a favorable approval scenario. However, timeline issues, side-effects, and manufacturing complexities and a high attrition rate in the product development cycle are expected to challenge market growth.
[176 Pages Report] The global 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.
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The monoclonal antibodies segment accounted for the largest share of the immunotherapy drugs market, by type, in 2019
Based on type, the immunotherapy drugs 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 immune checkpoint inhibitors 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.
By therapeutic area, cancer accounted for the largest market share in 2019
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.
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North America dominates the immunotherapy drugs market, by region
North America accounted for the largest share of the immunotherapy drugs market in 2019. The large share of this region in the global market can be attributed to the increasing prevalence of cancer and autoimmune diseases, rising demand for safer cancer therapies, increasing number of approvals from the FDA, and the introduction of favorable reimbursement policies. The Asia Pacific market is expected to grow at the highest rate during the forecast period.
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.
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