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| Global Immuno-Oncology Drugs Market Size |
The global Immuno-oncology Market is estimated to be valued at US$ 1020.24 Bn in 2023 and is expected
to exhibit a CAGR of 16 % over the forecast period 2023 to 2030, as highlighted
in a new report published by Coherent Market Insights.
Market Overview:
Immuno-oncology drugs work by harnessing the body's own immune system to fight cancer.
These drugs help activate or "unleash" the immune system T-cells to
recognize and attack cancer cells. Some common immuno-oncology drugs are
checkpoint inhibitors, monoclonal antibodies, tumor-infiltrating lymphocytes,
and cancer vaccines. These drugs have shown significant benefits over
conventional chemo and radiation therapies for certain cancers.
Market key trends:
One of the key trends driving the immuno-oncology market is the growth in
clinical trials exploring new targets and combination therapies. There is
growing research exploring synergistic combinations of immunotherapy drugs
targeting different checkpoints like PD-1, PD-L1, CTLA-4 along with other
modalities like chemotherapy, radiation etc. The goal is to enhance anti-tumor
response and overcome resistance. Many ongoing late phase trials are evaluating
various doublet, triplet regimens for cancers like lung cancer, melanoma etc.
Positive results from such studies would translate into new product approvals
and market growth in the forecast period.
Segment Analysis
The global immuno-oncology drugs market is segmented based on drug class,
application, end user, and region. Based on drug class, the market is segmented
into monoclonal antibodies, immune checkpoint inhibitors, immune system modulators,
and cancer vaccines. The immune checkpoint inhibitors segment is expected to
dominate the market during the forecast period owing to the increasing demand
and approvals for checkpoint inhibitors drugs to treat various types of
cancers.
Key Takeaways
The Global
Immuno-Oncology Drugs Market Size is expected to witness high growth,
exhibiting a CAGR of 16% over the
forecast period, due to increasing prevalence of cancer globally.
Regional analysis
North America is expected to dominate the global immuno-oncology drugs market
during the forecast period. This is attributed to the presence of established
players and huge R&D investments in drug development. Asia Pacific is
anticipated to grow at the fastest rate owing to growing healthcare expenditure
and rising geriatric population.
Key players
Key players operating in the immuno-oncology drugs market are AbbVie Inc.,
AstraZeneca, Bristol-Myers Squibb Company, Merck & Co., Inc., Novartis AG,
Pfizer Inc., Roche, Sanofi, Ferring B.V., Enzo Biochem Inc., Celldex
Therapeutics, Atara Biotherapeutics, Inc., Apexigen, BioNTech SE, Blueprint
Medicines Corporation, Regeneron Pharmaceuticals Inc., CytomX Therapeutics,
Inc., Agenus Inc., Betta Pharmaceuticals Co., Ltd., CStone Pharmaceuticals,
Amgen Inc., MediMergent, LLC, Gilead Sciences, Inc., and ONKO-INNATE.
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