Immunotherapy Market 2021-2027
Global immunotherapy Market Size, Share &Trends Analysis Report by Type (Monoclonal Antibodies, Cancer Vaccines, Autoimmune Checkpoint Inhibitors, Interleukins and Interferons (Cytokinins), and Other Type), By Application (Cancer, Autoimmune and Inflammatory Diseases, Infectious Diseases, and Other Application), By End-User (Hospitals, Diagnostic Centers, and Other End-User) Forecast, 2021-2027
The global Immunotherapy market is projected to grow at a significant CAGR of 13.8% during the forecast period (2021-2027). The major factors that are augmenting the growth of the immunotherapy market include the increasing prevalence of auto-immune diseases among adults and the increasing investments in research and funding of cancer. For instance, in July 2021 The Cancer Research Institute (CRI), one of the US nonprofit organizations which are work in the discovery, and development of powerful immunotherapies for all cancers, was announced that it was awarded more than $28.5 million in research grants and fellowships during the 2021 fiscal year ending June 30, 2021
Moreover, the approval of immunotherapy for cancer treatment increasing monoclonal body production, which is also driving the market growth. For instance, in July 2021, the US FDA approved pembrolizumab (Keytruda), which is used in the treatment of patients diagnosed with high-risk early-stage triple-negative breast cancer (TNBC) in combination with chemotherapy as neoadjuvant treatment. Technological development is also estimated to be the prime factor that is contributing significantly towards the growth of the market, such as the real-time, noninvasive visualization of specific cells, or the application of artificial intelligence (AI) to pathology, which have garnered recent attention in the immunotherapy market. However, the high treatment costs and low purchasing power of consumers are expected to hamper the growth of the global immunotherapy market.
The COVID-19 pandemic has had a negative impact on global Immunotherapy, the pandemic affected the buying capacity of hospitals, mainly small-scale hospitals and scanning centers. As per the recent article by Cigna, there have been reductions in hospitalizations for non-elective conditions such as transient ischemic attacks that raise the possibility that patients may be deferring necessary elements of clinical care, also the COVID-19 pandemic has affected the clinical trials of the new cancer immunotherapy drugs are kept on hold. However, the market was observed to be increased during the forecast period
The market is segmented based on type, applications, and end-user. By type, the market is segmented into monoclonal antibodies, cancer vaccines, autoimmune checkpoint inhibitors, cytokinin's, &others. Further, based on the application segment, the market is segmented into cancer, autoimmune and inflammatory diseases, infectious diseases, and others. Based on the end-user segment the market is segmented into hospitals, diagnostic centers, and others end-user.
Among these, the hospital segment is projected to grow at a substantial rate over the forecast period. This is due to the high access of hospitals for the treatment of chronic diseases. Most hospitals, especially in the cases related to cancer immunotherapy that center on indicative conditions. Also, the support of cancer vaccines, cellular therapies along experimental drugs enhances the immune system to fight cancer is leads to segmental growth. For instance, Northside Hospital Cancer Institute (NHCI) in the US has been offering immunotherapy for a longer period in the form of allogeneic stem cell transplantation.
Key players of the global immunotherapy market include AbbVie Inc, AstraZeneca, Bristol-Myers Squibb Company, Novartis AG, Merck &Co., Inc. These players are different growth strategies such as mergers &acquisitions, partnerships, new product launches, and geographical expansion among others to remain competitive in the market place.
The global immunotherapy market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is bifurcated into North America, Europe, Asia Pacific, and the Rest of the World. North America is estimated to be one of the leading regions in the global immunotherapy market. Some factors that are boosting the market growth in North America are the growing pervasiveness of cancer along with autoimmune diseases, increasing demand for safe and secure therapies related to cancer, rising acquiescence from the FDA. Asia Pacific is estimated to exhibit remarkable growth during the forecast period 2021-2027.
The market study of the global Immunotherapy market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary Sources Include
Financial reports of companies involved in the market
Whitepapers, research-papers, and news blogs
Company websites and their product catalog
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Global Immunotherapy Market Research and Analysis by Type
Global Immunotherapy Market Research and Analysis by Application
Global Immunotherapy Market Research and Analysis by End-User
The Report Covers
Comprehensive research methodology of the global Immunotherapy market
This report also includes a detailed and extensive market overview with key analyst insights
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations
Analysis of regional regulations and other government policies impacting the global Immunotherapy market
Insights about market determinants which are stimulating the global immunotherapy market
Detailed and extensive market segments with regional distribution of forecast revenues
Extensive profiles and recent developments of the market players.