The immunotherapy drugs market is expected to grow from US$ 186.32 billion in 2021 to US$ 476.04 billion by 2031; it is expected to grow at a CAGR of 14.4% from 2022 to 2031.
Increasing demand for monoclonal antibodies has attributed to the growth of the immunotherapy drugs market. Monoclonal antibodies used in immunotherapy are produced artificially from a cell clone and therefore consist of a single type of immunoglobulin. They are targeted toward specific antigens and bind to the antigens to form a complex. Monoclonal antibodies can be used to treat diseases such as cancer, rheumatoid arthritis, multiple sclerosis, systemic lupus erythematosus, and cardiovascular diseases. According to the Food and Drug Administration (FDA), more than 450 monoclonal antibodies were approved till 2021. In February 2022, the FDA issued an emergency use authorization (EUA) for bebtelovimab a new monoclonal antibody that is effective against the omicron variant of SARS-CoV-2. The drug was effective in adult and pediatric patients with mild to moderate symptoms or in those who are at a high risk of progression to severe COVID-19.
MARKET DYNAMICS
The growth of the immunotherapy drugs market is majorly attributed to increasing demand for target diseases, rising demand for biosimilars and monoclonal antibodies, and rising adoption of immunotherapy drug categories compared to traditional treatment methods. However, challenges related to manufacturing immunotherapy drugs are hampering the growth of the market. Moreover, the rising demand for personalized medicinal treatments is driving the growth of the immunotherapy drugs market during the forecast period.
Strategic Insights
MARKET SCOPE
The “Global Immunotherapy Drugs Market Analysis to 2031” report aims to provide an overview of the immunotherapy drugs market with detailed market segmentation based on type, clinical indication, and end user. The report provides key market statistics based on the performances of the leading players. It also offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global immunotherapy drugs market is segmented into type, clinical indication, and end user. Based on type, the market is segmented into vaccine adjuvants, dendritic cell activators & growth factors, T-cell stimulators & growth factors, immune checkpoint inhibitors, monoclonal antibodies, interleukins & interferons, and others. Based on indication, the market Is segmented into cancer, inflammatory diseases, autoimmune diseases, infectious diseases, and others. The end user segment is further segmented into hospitals & clinics, ambulatory surgical centers, and others.
REGIONAL FRAMEWORK
The global immunotherapy drugs market is segmented into five major regions North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The report covers analysis and forecast of 18 countries across the world along with trends and opportunities prevailing in the region.
From the regional perspective, North America dominates the immunotherapy drugs market with ~40% market share in 2021. The market growth in the region is majorly attributed to the presence of a large number of immunotherapy drug manufacturers such as F. Hoffmann-La Roche Ltd., Pfizer Inc., Merck & Co, Novartis International AG, Johnson & Johnson, Sanofi, and GlaxoSmithKline Plc. The below figure showcase the revenue growth trend in the North America immunotherapy drugs market:
IMPACT OF COVID-19 PANDEMIC
The COVID-19 outbreak resulted in the increased demand for immunotherapy drugs, which led to a high volume of orders among drug manufacturers, resulting in a higher production volume. The rise in production volumes increased the product profit of various drug component manufacturers. Thus, the procurement of drug components grew during the initial phase of the spread of SARS-CoV-2, thereby boosting the growth of the global immunotherapy drugs market.
The majority of demand was witnessed from the vaccine adjuvant manufacturers. The US Food and Drug Administration (FDA) has granted emergency use authorization for Pfizer/BioNTech and Moderna COVID-19 vaccines. These drugs have been recommended by healthcare professionals to people 16 years of age and older, with a dose of 30 μg (0.3 m) at the cost of US$ 19.50. As a result, the procurement of drugs has increased, which will bolster the immunotherapy drugs market during the forecast period.
Immunotherapy Drugs Market Report Analysis
CAGR (2023 - 2031)
US$ 243.84 Billion
US$ 715.35 Billion
Report Coverage
Key Players
Regional Overview
Market Segmentation
By Type
By Clinical Indication
By and End User
The report covers key developments in the immunotherapy drugs market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Inorganic growth strategies such as acquisitions, partnerships, and collaborations have encouraged the expansion of business and the customer base of market players. The market players operating in the immunotherapy drugs market are anticipated to experience lucrative growth opportunities in the coming years with the rising demand for immunotherapy drugs.
The report also includes the profiles of key immunotherapy drugs market companies, along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key development in the past five years. The list of a few companies engaged in the immunotherapy drugs market is mentioned below:
- Incyte Corporation
- Juno Therapeutics
- Celldex Therapeutics
- Tesaro, Inc.
- F. Hoffmann-La Roche Ltd
- Amgen Inc.
- Novartis AG
- BioNTech SE
- Sanofi
- GlaxoSmithKline Plc
- Pfizer Inc.
- Merck & Co
- Johnson & Johnson
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
Immunotherapy Drugs Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 243.84 Billion |
| Market Size by 2031 | US$ 715.35 Billion |
| Global CAGR (2023 - 2031) | 14.40% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Clinical Indication, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
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The List of Companies
1. Eli Lilly and Company
2. Astrazeneca
3. Abbvie
4. Amgen inc
5. GlaxoSmithKline Plc
6. Novartis International AG
7. Merck and Co., Inc
8. F. Hoffmann-La Roche AG
9. Bristol-Myers Squibb
10. UbiVac
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