The Global Immunotherapy Drugs Market is estimated to be USD 68.4 billion and is projected to reach USD 112.69 billion by 2021 with a significant CAGR of 10.5%. The need for immunotherapy drugs is on the rise with the increase in number of autoimmune diseases and cancer incidences. This coupled with the lesser side effects of Immunotherapy drugs is expected to result in a positive outlook of the market in the review period.
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Immunotherapy is a type of cancer treatment that enhances the innate powers of immune system. Immunotherapy treatment involves using the patient’s own immune system to help and fight cancer. Immunotherapies either stimulate the activities done by specific components of the immune system or counteract the signals that are produced by the cancer cells and suppress the immune responses. These properties of immune system to fight abnormal cells gives immunotherapy drugs the chance of successfully fighting against the diseases like cancer, infection, respiratory and autoimmune disorders.
Rising prevalence of auto immune and cancer has led to technological innovations and helped in developing immunotherapy drugs which are more effective than the prevailing drugs. Factors such as rising disease incidences with changing demographics, emergence of biosimilars, higher efficacy with lower side effects, development of new drugs and reduction in overall time for drug development are driving the growth of the market. However, factors such as high cost of treatment and limited accessibility are restraining the growth of the market.
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The global market for Immunotherapy drugs is segmented based on the type of drugs and by application. Based on the type of drugs, the market is classified as monoclonal antibodies, interferons, interleukins, vaccines and checkpoint inhibitors. By application, the market is segmented as Blood Cancer, Cervical Cancer, Breast Cancer, Glioblastoma, Lung Cancer, Gastric Cancer, Prostate Cancer and Melanoma. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
The key players in the Immunotherapy Drugs market include Merck, Roche, Eli Lilly, Amgen, Novartis, Celgene, AstraZeneca, Bristol Myers Squibb, GlaxoSmithKline PLC and Seattle Genetics.
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