DUBLIN--(BUSINESS WIRE)--The "Immunotherapy Drugs Market by Type (Monoclonal Antibodies, Check Point Inhibitors, Interferons, and Interleukins), Therapy Area (Cancer, Autoimmune diseases& Inflammatory, Infectious Diseases), End-User (Hospitals, Clinics ) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global immunotherapy drugs market is projected to reach USD 274.6 billion by 2025 from USD 163.0 billion in 2020, at a CAGR of 11.0 % during the forecast period.
Market growth is primarily driven by the rising demand for immunotherapies over conventional treatments and a growing prevalence of target indications. However, timeline issues, side-effects, and manufacturing complexities are expected to restrict market growth to a certain extent.
Monoclonal antibodies are expected to witness high demand during the forecast period.
The adoption of immunotherapy in cancer has been rising in recent years due to the introduction of safe and efficient treatments. Monoclonal antibodies are immunoglobulins derived by cultivating immune cells in the lab to target specific antigens present on the surface of cancer cells. These antibodies, when used as a therapy, attach themselves to cancer/abnormal cells and mark them for destruction by the body's natural immune system. Monoclonal antibodies hold the largest share of the immunotherapy drugs market owing to their high specificity and few side-effects.
Cancer is one of the key application areas for immunotherapies.
On the basis of the therapeutic area, the immunotherapy drugs market is segmented into cancer, autoimmune & inflammatory diseases, infectious diseases, and others. Cancer accounted for the largest share of the immunotherapy drugs market in 2019. This is mainly due to a large number of approvals, rising prevalence of cancer, and growing research activity in this area, among other factors.
By end-user, hospitals accounted for the largest share of the immunotherapy drugs market in 2019.
On the basis of the end-user, the global immunotherapy drugs market is segmented into hospitals, clinics, and other end users. Hospitals accounted for the largest share of the immunotherapy drugs market in 2019, mainly due to their high spending on immunotherapies and the availability of the necessary infrastructure and facilities to provide advanced treatments.
The market in North America is projected to hold the largest share of the global immunotherapy drugs market.
North America is projected to dominate the market during the forecast period. This can be attributed to factors such as the rising prevalence of cancer and increasing initiatives by industry players. On the other hand, the Asia Pacific region is expected to grow at the highest CAGR of 11.9% during the forecast period due to factors such as aggressive investments by key market players and the increase in government spending on healthcare.
- Increasing Adoption of Immunotherapy Drugs Over Conventional Treatment Regimens
- Rising Prevalence of Cancer and Autoimmune & Infectious Diseases
- Increasing Demand for Monoclonal Antibodies and Biosimilars
- Timeline Issues, Side-Effects, and Manufacturing Complexities
- High Attrition Rate in the Product Development Cycle
- Increased Demand for Personalized Medicines
- High Scope for Growth in Emerging Economies
- Development of Affordable Nanoparticles for Deploying Immunotherapies
- High Cost of Immunotherapy Treatment, Regional Disparities, and Lack of Insurance Coverage
- Side-Effects and Low Efficacy of Immunotherapy Drugs
- Lack of Awareness
- Delays in Diagnosis and Treatment
- F. Hoffmann-La Roche
- Merck & Co
- Novartis International AG
- Johnson & Johnson
- Boehringer Ingelheim
- Eli Lilly and Company
- Immatics Biotechnologies Gmbh
- Biontech Se
- Gilead Sciences
- Nbe Therapeutics
- Teva Pharmaceuticals
- Bayer AG
- Bristol-Myers Squibb
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