Immuno-oncology drugs refer to a therapy or cancer treatment that employs drugs to either boost or suppress the immune system in order to aid the body’s defenses against cancer, infection, and other disorders. It makes use of chemicals produced by the body or in a lab to strengthen the immune system and assist the body in locating and eliminating cancer cells.
Sizing and Forecast
The immuno-oncology drugs market size has grown rapidly in recent years. It will grow from $92.78 billion in 2023 to $105.64 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to rise in the number of cancer cases, strong economic growth in emerging markets, increased healthcare expenditure, and an increase in pharmaceutical r&d expenditure. the market was restrained by high cost of immuno-oncology therapies, low healthcare access, pricing pressures from regulators, high r&d costs, and patent expiration of drugs..
The immuno-oncology drugs market size is expected to see rapid growth in the next few years. It will grow to $175.05 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing investment in immuno-oncology, rising focus on immunotherapy drugs for cancer treatment, product innovations through strategic collaborations and increasing geriatric population are expected to drive the market. . Major trends in the forecast period include companies should develop microneedle injector-based drugs to increase the bioavailability and eliminate side effects of the subcutaneous route, consider investing in developing personalized oncology drugs to treat specific patients, consider investing in acquisitions to increase market shares and expand their product portfolio offerings, focus efforts on the development of next-generation biologics to increase revenue and market share, focus on the development of antibody-drug conjugates to manufacture medicines for cancer treatment, invest in ai solutions, reduce r&d costs and save development time, invest in 3d printing devices to test new oncology drugs, opt for immune-oncology combination therapies to boost innovation and establish category leadership, and implement car-t therapies to boost innovations and establish category leadership..
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Segmentation & Regional Insights
The immuno-oncology drugs market covered in this report is segmented –
1) By Type: Immune Checkpoint Inhibitors, Immune System Modulators, Other Monoclonal Antibodies, Cancer Vaccines, Others
2) By Therapeutic Application: Melanoma, Lung Cancer, Blood Cancer, Renal Cell Carcinoma, Bladder Cancer, Other Therapeutic Application
3) By End-Users: Hospitals, Clinics, Ambulatory Surgical Centers, Others
North America was the largest region in the immuno-oncology drugs market in 2023. The regions covered in the immuno-oncology drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in the number of cancer cases across the globe is likely to contribute to the growth of the immuno-oncology drugs market. For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of new cancer cases. Therefore, the rise in cancer incidence rates globally is anticipated to boost demand for the immune-oncology drugs market over the coming years.
Key Industry Players
Major companies operating in the immuno-oncology drugs market report are F. Hoffmann-La Roche Ltd., Merck & Co., Bristol-Myers Squibb Company, Amgen Inc, Johnson & Johnson, AstraZeneca Plc, Eli Lilly and Company, Novartis International AG, Pfizer Inc., Sanofi S.A., Arlak Biotech, Healthkind Labs Pvt. Ltd., SwisscheM Healthcare Pvt.Ltd, Apikos Pharma, Kolaz biotech, CStone Pharma, CARsgen Therapeutics, JW Therapeutics, BeiGene, Takeda Pharmaceuticals, Astellas Pharma Inc, Otsuka Pharmaceutical Co, Ltd, Legend Biotech Co, Zai Lab, Daiichi Pharmaceutical and Sankyo, AQVIDA GmbH, Baxter International Inc., GlaxoSmithKline plc, Affimed Therapeutics, Autolus Therapeutics, Cellectis, Celyad, GammaDelta Therapeutics, Immunocore, European Medical Center (EMC), Yauza Medical Center, Celon Pharma, Veropharm, Biocad, Selvita, OncoArendi Therapeutics Mabion, Fate Therapeutics, Forty-Seven, Arcus Biosciences, Gritstone Oncology, Rakuten Medical, Rubius Therapeutics, Allogene Therapeutics, Celgene Corporation, Bayer AG, Incyte Corporation, Recepta Biopharma, CSC Pharmaceuticals International, Blanver EN, Sandoz Brazil, Life Pharma, Julphar, NewBridge Pharmaceuticals, Eurolab
The immuno-oncology drugs market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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