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Global Immunotherapy Drugs Market to Reach About USD 339.6 Billion by 2027, Driven by the Surging Uses of Immunotherapy Drugs in Cancer Treatment

According to a new report by EMR titled, ‘Global Immunotherapy Drugs Market Report and Forecast 2022-2027’, the global market is expected to grow at a CAGR of 11.20% in the forecast period of 2022-2027 to reach a value of approximately USD 339.6 billion by 2027.

The market is being fuelled by the growing utilisation of immunotherapy drugs in cancer treatment. With the surging attempts to boost the effectiveness and accessibility of innovative drugs, the market for immunotherapy drugs is growing rapidly. Various innovative immunotherapy drugs are increasingly approved for use by health authorities across the globe, which is invigorating the growth of the market. The increasing research and development (R&D) activities to enhance the effectiveness of immunotherapy drugs are also propelling the growth of the market. Moreover, the emergence of innovative protein-based immunotherapy drugs to facilitate off-the-shelf cancer treatments is anticipated to provide lucrative growth opportunities to the market expansion in the forecast period.

AbbVie Inc. (NYSE: ABBV), one of the leading companies in the market, announced a strategic partnership with Tizona in January 2019. Under the partnership, the company would commercialise and develop CD39-targeted therapeutics such as TTX-030, which is a first in-class antibody for the treatment of cancer. As CD39 is responsible for the initial steps in the conversion of immune stimulatory extracellular ATP to immune-suppressive adenosine in the TME, TTX-030 efficiently targets this pathway. Moreover, the monoclonal antibody accelerates the conversion of ATP to AMP and prevents the formulation of immune suppressive extracellular adenosine. It also hinders the degradation of ATP while enabling the stimulation of dendritic and myeloid-derived cells that are crucial for adaptive immunity. Such partnerships and developments by the leading companies are propelling the growth of the market for immunotherapy drugs.

Market Analysis by Type, Therapy Area, and Region:

  • The market, on the basis of type, can be divided into monoclonal antibodies, vaccines, interferons alpha and beta, and interleukins, among others.
  • Based on therapy area, the industry can be divided into cancer, autoimmune and inflammatory diseases, and infectious diseases, among others.
  • The regional markets for immunotherapy drugs include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The introduction of various favourable government initiatives to spread awareness regarding the treatment of cancer is augmenting the growth of the market for immunotherapy drugs.
  • The market is being fuelled by the growing accessibility to efficient therapeutic techniques and the robust growth of the healthcare sector.
  • The growing geriatric population and the surging incidences of chronic diseases are propelling the market for immunotherapy drugs.
  • The increasing investments by governments in the development of healthcare infrastructure are propelling the market growth of immunotherapy drugs.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for immunotherapy drugs for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, therapy areas, and major regions of immunotherapy drugs.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global immunotherapy drugs market are AbbVie Inc., Amgen Inc., AstraZeneca PLC, GlaxoSmithKline PLC, and F. Hoffmann-La Roche AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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