Immunotherapy Drugs Market Overview:
The 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. The growth of this market is majorly attributed to the rising prevalence of target diseases, increasing demand for monoclonal antibodies and biosimilars, increasing adoption of immunotherapy drugs over conventional treatments, and a favorable approval scenario. However, timeline issues, side-effects, and manufacturing complexities and a high attrition rate in the product development cycle are expected to challenge market growth.
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.
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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.
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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