The immunotherapy drugs market is gaining tremendous growth on the account of the growing prevalence of cancer and several autoimmune diseases around the globe. According to the World Health Organization (WHO), the impact of these medical conditions can be ascertained from the fact that cancer leads to 9.6 million deaths in 2018. The association further reported that around 70% of deaths from cancer occur in low and middle-income countries. Moreover, with the rising need for mAbs, the immunotherapy drugs market is anticipated to have a positive outlook till the end of the forecast period 2019-2027. The development of new drugs as well as the penetration of new molecules such as zanolimumab, pertuzumab, elotuzumab, and obinutuzumab into the market is further anticipated to augment the growth of the market.
1. In April 2018, Bristol-Myers Squibb Company (BMS) entered into a partnership with Illumina Inc. to use Illumina’s next-generation sequencing (NGS) technology to produce and commercialize in-vitro diagnostic (IVD) assays in support of the BMS oncology portfolio globally.
2. In April 2018, Pfizer Inc. signed an asset collaboration agreement with Allogene Therapeutics Inc. to use Pfizer’s portfolio associated with allogeneic CAR-T therapy, an investigational immune cell therapy, for cancer. This agreement is an attractive opportunity for Pfizer Inc. to continue the production of CAR-T therapy.
North America is expected to hold a leading position in the global immunotherapy drugs market shortly owing to the high prevalence rate of cancer in the region. According to the National Cancer Institute, lung, prostate, and colorectal cancers account for an estimated 43% of all cancers diagnosed in men in 2020 in the U.S. The three most common cancers in women are breast, lung, and colorectal, and they will account for an estimated 50% of all new cancer diagnoses in 2020.
Immunotherapy, also known as immunotherapy, is a relatively new approach to the treatment of diseases and conditions that have resistance to medical treatments. With immunotherapy, doctors can attempt to kill off specific types of cells or antibodies in patients by subjecting them to potent immunotherapy drugs. These drugs are injected into the subjects under medical supervision, and they are designed to boost the immune system so that it can more effectively fight off the disease. The immune systems of people with cancer are often depleted, making them prone to infections, disease, and other disorders