The global immunotherapy market is anticipated to grow at a considerable CAGR of 13.8% during the forecast period (2024-2031). The market growth is mainly driven by increasing auto-immune diseases among adults, growing in monoclonal body production for treatment of cancer, rising approvals for immunotherapies, increasing investments in research and funding of cancer among others. Rising R&D activities in field of the cancer immunotherapy is playing a crucial role in beginning of advanced variants along with elevated efficacy and treatment effectiveness. The R&D in this field will support to medical professionals tomake a shift from chemotherapies that is a traditional one to immunotherapies which is more advanced form of cancer treatment. Therefore, increasing adoption of immunotherapy in replacement of chemotherapy is used to drive the growth of the immunotherapy market.
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Due to the large scale adoption of sedentary lifestyle, smoking along with alcohol habits are accountable for growing incidence related to cancer. The rising cancer population is creating demand for its treatment; the efficiency of immunotherapy is thus driving the growth of the global immunotherapy market. Additionally, other factors such as technological breakthroughs along with strategic collaborations are again augmenting the growth and development of the market. For instance, in October 2020, Aduro biotech, Inc. had acquired Chinook therapeutics. Aduro biotech, Inc. which emphasis on diseases treatment through discovery, development and commercialization of therapies that will result in harness the body’s natural immune systems while Chinook therapeutics focuses on medicines related to diseases for kidney with particularly emplacing on rare and severe disorders. Through these mergers it will add BION-1301 an investigational anti-APRIL monoclonal antibody which is in its pipeline.
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Market Coverage
- Segment Covered-
o By Type
o By Application
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape-AbbVie Inc,AstraZeneca,Bristol-Myers Squibb Company,Novartis AG,Merck & Co., Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Immunotherapy Market Report Segment
By Type
- Monoclonal Antibodies
- Cancer Vaccines
- Autoimmune Checkpoint Inhibitors
- Interleukins and Interferons (Cytokinin’s)
- Other
By Application
- Cancer
- Autoimmune and Inflammatory Diseases
- Infectious Diseases
- Other
By End-User
- Hospitals
- Diagnostic Centers
- Other
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