Immunotherapy Drugs Market is expected to reach US$ 476.04 Billion by 2028

Rise in Number of Cancer Immunotherapy Drugs Supports Immunotherapy Drugs Market

According to our latest market study on "Immunotherapy Drugs Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by type, clinical indication, end user, and geography" the market is expected to grow from US$ 186.32 billion in 2021 to US$ 476.04 billion by 2028; it is expected to grow at a CAGR of 14.4% from 2022 to 2028. 

Source: The Insight Partners Analysis

According to the National Cancer Institute, there were 1,806,590 new cancer cases in the US, and 606,520 associated deaths (mortalities) were registered in 2020. Moreover, according to the National Cancer Institute, the number of cancer survivors is expected to increase from 16.9 million in January 2019 to 22.2 million by 2030. As a result, manufacturers are inclined toward inventing novel approaches and methods that might curb the growth of cancer. Hence, cancer immunotherapy drugs, combined with radiation and chemotherapy treatments, prove to be an effective alternative to combat cancer. For instance, in January 2022, the US Food and Drug Administration (FDA) approved tebentafusp-tebn (KIMMTRAK), the bispecific fusion protein, for the treatment of HLA-A02:01-positive adult patients with unresectable uveal melanoma.

Based on clinical indications, the immunotherapy drugs market is segmented into cancer, inflammatory diseases, autoimmune diseases, infectious diseases, and others. The cancer segment accounted for the largest market share in 2021, and it is expected to retain its dominance during the forecast period. In February 2022, the FDA approved the FoundationOne CDx, the companion diagnostic test, to identify patients with microsatellite instability high (MSI-H) solid tumors who may be candidates for immunotherapy. Moreover, the infectious diseases segment is expected to witness the highest CAGR from 2022 to 2028.

Based on type, the immunotherapy drugs 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. The monoclonal antibodies segment accounted for the largest market share in 2021, and it is expected to dominate the market over the forecast period. Moreover, for cancer treatment, only two monoclonal immunotherapy drugs have been approved, i.e., bevacizumab (Avastin) and ramucirumab (Cyramza). These drugs block blood vessels that supply nutrients to cancerous tumors. Further, other drugs are undergoing investigation in clinical trials across various countries.  Medications that are studied in clinical trials include T-cell therapy, monoclonal antibodies (including immune checkpoint inhibitors), and oncolytic virus therapies. Immunomodulator medications targeting CTLA-4 inhibitors currently being studied for the treatment of lung cancers include tremelimumab and iplimumab.

Based on end user, the immunotherapy drugs market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment accounted for the largest market share in 2021, and it is expected to continue its dominance in the market over the forecast period. A rise in spending on immunotherapies by hospitals and high demand for advanced therapies that are only provided by hospitals & clinics are expected to support the growth of the immunotherapy drugs market.

Incyte Corporation; Pfizer Inc.; Juno Therapeutics; Novartis AG; Celldex Therapeutics; Tesaro, Inc; Amgen Inc; F. Hoffmann-La Roche Ltd; and Merck&Co. are a few of the key players profiled during the study of the immunotherapy drugs market. Several other major companies were analyzed during this study to get a holistic view of the immunotherapy drugs market and its ecosystem.

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