Immunotherapy Drugs Markets: Worldwide Growth, Trends and Forecasts to 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 2, 2019--
The “Immunotherapy Drugs Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The Immunotherapy Drugs Market studied is anticipated to grow with a CAGR of 13% during the forecast period (2019-2024).
The major factors attributing to the growth of the Immunotherapy drugs market are such as the rising adoption of targeted therapy over traditional therapy, emergence of biosimilars, rising prevalence of chronic diseases and lifestyle disorders and also raising demand for monoclonal antibodies.
For instance, over the last decade, there has been a continuous rise in the prevalence of several chronic diseases, which, in several cases, need immune-based therapies. Some of the major chronic diseases include cancer, kidney failure, and heart diseases, among others. Several lifestyle disorders, both chronic and non-communicable diseases, such as hypertension, diabetes, obesity, and depression, among others, need critical care during hospitalization.
Chronic diseases in critically ill patients are often characterized by long hospital stays, intense suffering, and prolonged dependence, with substantial consumption of resources. Mostly, the conditions become very complex, exhibiting combined disorders related to neurological, endocrine, metabolic, immunologic, and muscle disorders, where biological therapy plays an essential role. Thus, the rise in the number of diseases and associated disorders are among the major primary reasons for the growth of this immunotherapy drugs market.
Key Market Trends
Cancer is Expected to Hold the Major Share in the Therapy Area Segment of Immunotherapy Market
As per a 2014 publication in the Cancer Research journal, by 2030, an estimated 2.1 million people in the United States are expected to be diagnosed with cancer, each year and similarly, the prevalence of cancer is more or less same across the globe too. And this cancer prevalence is expected to be same in the coming years, which is helping the market growth.
As per the present clinicalTrials.gov status, nearly 1,400 clinical trials are being listed, out of which, more than 800 are being conducted in the United States, nearly 400 in European countries, and other prominent countries, such as China, Australia, and Canada. The growth of immunotherapies in developed markets is high, due to increased R&D, with better government policies for supporting clinical trials through findings and campaigns, in order to raise awareness regarding several kinds of cancer.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. This is due to the increasing incidence of cancers, rising geriatric population, growing preference, and adoption rate of immunotherapy rates across the region. In the North America region, the United States holds the largest market share; and the factors, such as increased awareness among people for the early detection of diseases, better reimbursement policies, healthcare expenditure with better infrastructure and rising prevalence of chronic and lifestyle disorders are primary factors raising the immunotherapy market in this country.
The immunotherapy drugs market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising patient awareness levels and high prevalence of diseases such as cancer, few other smaller players are also expected to enter into the market in the coming years. Some of the major players of the market are AbbVie Inc., Amgen Inc., AstraZeneca, GlaxoSmithKline PLC, and F. Hoffmann-La Roche AG are among others.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Adoption of Targeted Therapy over Traditional Therapy
4.2.2 Emergence of Biosimilars
4.2.3 Rising Prevalence of Chronic Diseases and Lifestyle Disorders
4.2.4 Rising Demand for Monoclonal Antibodies
4.3 Market Restraints
4.3.1 High Cost of Immunotherapy Treatment
4.3.2 High Attrition Rate in the Product Development Cycle
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type of Drug
5.1.1 Monoclonal Antibodies
220.127.116.11 Preventive Vaccines
18.104.22.168 Therapeutic Vaccines
5.1.3 Checkpoint Inhibitors
5.1.4 Interferons Alpha and Beta
5.1.6 Other Type of Drugs
5.2 By Therapy Area
5.2.2 Autoimmune and Inflammatory Diseases
5.2.3 Infectious Diseases
5.2.4 Other Therapy Areas
5.3 By End User
5.3.2 Cancer Research Centers
5.3.3 Other End Users
5.4.1 North America
22.214.171.124 Rest of Europe
5.4.3 Asia Pacific
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AbbVie Inc.
6.1.2 Amgen Inc.
6.1.4 Bristol-Myers Squibb
6.1.5 F. Hoffmann-La Roche AG
6.1.6 GlaxoSmithKline PLC
6.1.7 Johnson & Johnson
6.1.8 Merck & Co. Inc.
6.1.9 Novartis AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/gmk1g9
View source version on businesswire.com:https://www.businesswire.com/news/home/20191202005877/en/
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INDUSTRY KEYWORD: PHARMACEUTICAL HEALTH ONCOLOGY
SOURCE: Research and Markets
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PUB: 12/02/2019 02:25 PM/DISC: 12/02/2019 02:25 PM