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| Global Immunotherapy Drugs Market Size |
Immunotherapy drugs are biological and pharmacological agents that either
stimulate or suppress the immune system's response against diseases like
cancer. These drugs work by either enhancing the ability of the body's immune
system to fight tumor and disease cells or by directly acting as tumor
inhibitors. Key advantages of immunotherapy drugs include reduced side effects
compared to chemotherapy, ability to fight multiple cancers simultaneously, and
long lasting response. The growing prevalence of cancers worldwide and
limitations of existing treatment methods have led to a rise in demand for more
effective and targeted treatment approaches like immunotherapy.
The Global Immunotherapy Drugs Market is estimated to be valued at US$ 270.55 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period
2024 to 2030.
Key Takeaways
Key players operating in the immunotherapy drugs are Infineon Technologies AG,
STMicroelectronics, Deutsche Telekom AG, Giesecke+Devrient Mobile Security
GmbH, Thales Group, KORE Wireless, Arm Limited, Truphone Limited, Workz Group,
Sierra Wireless, NXP Semiconductors, AT&T. Growing incidence of cancer and
increasing awareness about immunotherapy as an effective treatment approach are
driving the demand for immunotherapy drugs globally. Technological advancements
in tumor cell research and development of combination therapies have expanded
the applications of immunotherapy drugs.
Market trends
The immunotherapy drugs market is witnessing rising adoption of combination
therapies that combine immunotherapy drugs with conventional treatment methods
like chemotherapy and targeted therapy. This is allowing healthcare
professionals to achieve better clinical outcomes. Growing investments in cancer
research isalso leading to development of novel drug candidates targeting new
cancer antigens and pathways.
Market Opportunities
Increasing focus on personalized immunotherapy and development of drugs for
hard-to-treat cancers like pancreatic cancer present key opportunities in the
market. Additionally, development of advanced diagnostics for screening and
selection of appropriate patients is expected to facilitate targeted use of
immunotherapy and optimize outcomes.
Impact of COVID-19 on Immunotherapy Drugs Market growth
The COVID-19 pandemic has severely impacted the growth of the immunotherapy
drugs market. Widespread lockdowns and restrictions imposed during the pandemic
disrupted the supply chain and manufacturing of immunotherapy drugs globally.
This led to shortages in drug supplies. Moreover, hospitals shifted their focus
towards the treatment of COVID-19 patients which reduced the number of
non-COVID care, including cancer treatment procedures that utilize
immunotherapy drugs. As a result, demand from the end-users declined
substantially during the initial phases of the pandemic. However, with economic
activities reviving in 2021 and hospitals resuming elective surgeries and
cancer treatments, the immunotherapy drugs market is recovering steadily.
Pharmaceutical companies are scaling up production capacities to meet the
growing demand. The long-term outlook remains positive as immunotherapy is
considered a key treatment approach for various cancers and other chronic
diseases. Ongoing clinical trials of novel immunotherapy drug candidates also
provide scope for market growth in the coming years.
Geographical regions with high concentration of Immunotherapy Drugs market
value
North America represents the largest geographical region for the immunotherapy
drugs market in terms of value. The region accounts for over 40% share of the
global market revenue owing to high adoption of advanced cancer treatment
methods, presence of major pharmaceutical players, and favorable reimbursement
policies supporting immunotherapy drugs. Europe is another lucrative region for
the market backed by rising cancer prevalence, established healthcare
infrastructure, and presence of major R&D facilities. Asia Pacific is
expected to emerge as the fastest growing region post-COVID due to improving
access to treatment, growing awareness about immunotherapies, and increasing
healthcare spending in countries such as China and India.
Fastest growing region for Immunotherapy Drugs market
Asia Pacific region is poised to witness the fastest growth in the global Global
Immunotherapy Drugs Market Size during the forecast period from 2024 to
2030. Factors such as rising incidence of cancer due to lifestyle changes,
growing healthcare expenditure, increasing number of clinical trials for novel
drugs, and expanding pharmaceutical industry are supporting the growth of
immunotherapy drugs market in the Asia Pacific region. Additionally, growing
medical tourism coupled with higher accessibility to high-quality yet
affordable healthcare services in Asia makes it an attractive destination for
cancer treatment through immunotherapy. Emerging economies like India, China,
South Korea, and others offer immense business opportunities for market
players. Thus, Asia Pacific is expected to attract major strategic investments
by immunotherapy drug manufacturers and emerge as the most promising regional
market in the coming years.
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