Global Immunotherapy Drugs Market: Overview
Previously, cancer was treated with chemotherapy, radiation therapy, and sometimes with the help of surgery. Recently, many advanced treatments have emerged in the field of immuno-oncology. The aim of the next generation cancer treatment is to adopt improved techniques of anticancer therapy. Immunotherapy is a biological therapy in which human immunity system is improved to fight against infectious diseases and cancer. This treatment enhances the overall immunity of the body and restricts the growth of the cancer cells. In this treatment, immune cells kill the cancer cells from the body.
Global Immunotherapy Drugs Market: Growth Factors
Rising occurrences of the autoimmune diseases, cancer, and others along with increasing demand for the immunotherapy drugs is anticipated to fuel the immunotherapy drugs market growth. Increasing need for immunotherapy drugs and mAbs is expected to drive the market growth. mAbs possess high resemblance towards the specific disease and areas that require treatment. Immunotherapy drugs are utilized for therapies such as radioimmunotherapy and antibody-directed enzyme prodrug therapy. These antibodies are increasingly used in the development process, thus expecting to enhance the market revenue in the coming years. Materialization of biosimilars is another driving factor for the immunotherapy drugs market.
Global Immunotherapy Drugs Market: Segmentation
The immunotherapy drugs market is classified into therapy area, type of drug, and region. The therapy area is divided into infectious diseases, cancer, autoimmune & inflammatory diseases, and others. The cancer segment is further sub-segmented into the malignant and solid tumor. Depending on the type of drug, the market is fragmented into checkpoint inhibitors, checkpoint inhibitors, monoclonal antibodies, interleukins, adult vaccines, interferons alpha & beta, and others. The adult vaccine is sub-segmented into therapeutic vaccines and preventive vaccines. Region wise, the market is diversified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Global Immunotherapy Drugs Market: Regional Analysis
North America is expected to contribute the largest market share, whereas Asia Pacific will be the fastest growing region for immunotherapy drugs. Favorable government initiatives, availability of technologically advanced health care research framework, personalized medicine, healthy R&D investment, and development of next generation sequencing are some of the key factors responsible for the growth of immunotherapy drugs in North America. Low cost of manufacturing coupled with an acceptable regulatory scenario in this region may give rise to the market growth. Prosperous middle class willing to spend on quality healthcare products along with the presence of a vast pool of geriatric population in Asia Pacific region anticipate emerging as a most promising investment destination for the immunotherapy drugs. High disposable income, development of health care infrastructure, largely untapped market base, the rise in health and hygiene related awareness, and economic development in Asia Pacific region is expected to augment the immunotherapy drugs market growth in future.
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Global Immunotherapy Drugs Market: Competitive Players
Major market players in the global immunotherapy drugs market include F. Hoffmann-La Roche, Merck, AbbVie, AstraZeneca, Johnson & Johnson, Bristol-Myers Squibb, Alder Biopharmaceuticals, ChemoCentryx, Boehringer Ingelheim, and Amgen. Other prominent players include Argos Therapeutics, Agenus, CTI BioPharma, AVAX Technologies, ADC Therapeutics, Agensys, Biothera, Biogen, Aduro Biotech, Acorda Therapeutics, Eli Lilly, Advaxis, Coherus BioSciences, and Bavarian Nordic.