Global Immunotherapy Drugs Market

Global Immunotherapy Drugs Market to Exhibit a Significant CAGR During 2021-2029; Market to Grow on Account of Increasing Prevalence of Cancer Diseases and the Need for Prevention and Cure of Such Diseases

Research Nester published a report titled “Immunotherapy Drugs Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global immunotherapy drugs market in terms of market segmentation by type, therapy area, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global immunotherapy drugs market is segmented by therapy area into cancer, infectious diseases, inflammatory & autoimmune diseases, and others, out of which, the cancer segment is anticipated to register the largest market share by the end of 2021, owing to the growing advancements in immune-oncology, along with the rising need for the prevention and cure of cancer disease, backed by the rising prevalence of the disease around the world. In one of the statistics by the World Health Organization (WHO), deaths around the world caused due to cancer was registered to around 9.6 million in the year 2018.

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The global immunotherapy drugs market is anticipated to grow with a significant CAGR during the forecast period, i.e., 2021-2029. Factors such as the increasing investments of the pharmaceutical companies for the development of advanced oncology biosimilars and other immunotherapy drugs, coupled with the numerous favorable initiatives of the government, such as the “Cancer Moonshot” initiative proposed in the year 2016 by the then Vice President of the United States, Joe Biden, under the order of the then President, Barack Obama, that promotes research and development are some of the significant factors anticipated to contribute to the growth of the global immunotherapy drugs market during the forecast period.

Regionally, the global immunotherapy drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions, out of which, the market in North America is projected to hold the largest share by the end of 2029 owing to the strong healthcare network in the United States, along with the growing prevalence of new cancer cases every year, and the presence of numerous key players in the region. The Centers of Disease Control and Prevention (CDC), in one of its statistics, stated that the total number of new cancer cases registered every year in the United States reached 1701.3 thousand cases in the year 2017 from 1291.6 thousand cases in the year 1999.

Increasing Prevalence of Cancer Disease and the Need for Targeted Therapies

Owing to the increasing cancer cases globally, there is a rising need amongst individuals for the early diagnosis and treatment of the chronic diseases. Advancements in healthcare, especially in the field of development of therapies for the treatment of cancer, have led to the development of targeted therapies, a process that targets specific proteins and genes that are involved in the growth and survival of the cancer cells. Backed by the increasing success rate of the treatment, healthcare practitioners are increasingly adopting the therapy for treating cancer patients, which is anticipated to drive the growth of the global immunotherapy drugs market in the coming years.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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However, lack of proper healthcare infrastructure in several low- and middle-income nations and the high cost of immunotherapy treatment are expected to operate as key restraint to the growth of global immunotherapy drugs market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global immunotherapy drugs market which includes company profiling of Merck & Co., Inc. (NYSE: MRK), Gilead Sciences, Inc. (NASDAQ: GILD), Pfizer Inc. (NYSE: PFE), AstraZeneca PLC (NASDAQ: AZN), Johnson & Johnson Services, Inc., Bristol-Myers Squibb Company (NYSE: BMY), GlaxoSmithKline plc (NYSE: GSK), F. Hoffmann-La Roche Ltd. (OTCMKTS: RHHBY), Novartis AG (NYSE: NVS), and Bayer AG (OTCMKTS: BAYRY). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global immunotherapy drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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