Immunotherapy Drugs Market Industry Analysis, Market Trends, Market Growth, Opportunities, and Forecast
Immunotherapy Drugs Market Overview:
The Immunotherapy Drugs Market is expected to grow at a CAGR of 11.0 percent over the forecast period, from USD 163.0 billion in 2020 to USD 274.6 billion in 2025. The rising prevalence of target diseases, increased demand for monoclonal antibodies and biosimilars, increasing use of immunotherapy medications over traditional therapies, and a favourable approval scenario are all contributing to the market's growth. However, market growth is projected to be hampered by timing constraints, side effects, manufacturing complexity, and a high attrition rate during the product development cycle.
Immunotherapy Drugs Market Segmentation:
By therapeutic area, cancer accounted for the largest market share in 2019
On the basis of therapeutic area, this market is segmented into cancer, autoimmune & inflammatory diseases, infectious diseases, and other therapeutic areas. Cancer accounted for the largest share of the immunotherapy drugs market, by therapeutic area, in 2019. The large share of this segment can be attributed to the growing prevalence of cancer, rising research activity in this area, and reimbursement coverage for immunotherapies for oncology.
Cancer commanded the largest share of the immunotherapy drugs market, by therapeutic area, in 2019.
Based on therapeutic area, the immunotherapy drugs market has been segmented into cancer, autoimmune and inflammatory diseases, infectious diseases, and other therapeutic areas. Cancer accounted for the largest share of the immunotherapy drugs market in 2019. Factors such as the large number of approvals, rising prevalence of cancer, rising demand for monoclonal antibodies & personalized medicines, and the expansion of policies by payers to cover most immunotherapy drugs are driving the market growth.
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Hospitals are the largest end-user segment of the immunotherapy drugs market.
On the basis of end users, the immunotherapy drugs market is segmented into hospitals, clinics, and other end users. The hospitals segment accounted for the largest share of the immunotherapy drugs market, by end user, in 2019. Factors contributing to the large share and high growth of this segment include the rising spending by hospitals on immunotherapies, the prevalence of cancer and autoimmune diseases, and the availability of the necessary infrastructure and facilities.
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Key Market Players
The major players in the global immunotherapy drugs market are F. Hoffmann-La Roche Ltd. (UK), Pfizer Inc. (US), Merck & Co (US), Novartis International AG (UK), Johnson & Johnson (US), Sanofi (France), GlaxoSmithKline Plc (UK), Amgen Inc. (US), AbbVie Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca (UK), and Immatics Biotechnologies (Germany), BioNTech SE, Genmab, Gilead Sciences, NBE Therapeutics, Teva Pharmaceuticals, Bayer, and Bristol-Myers Squibb.
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