The global Immunotherapy Drugs Market is estimated to be valued at US$ 234.85 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Immunotherapy drugs treat cancer and other diseases by helping the body's immune system fight the illness. These drugs include monoclonal antibodies, cancer vaccines, checkpoint inhibitors and cellular therapies. Unlike chemotherapy which primarily kills rapidly dividing cells, immunotherapies appear to produce more durable responses. T
The global Immunotherapy Drugs Market is estimated to be valued at US$ 234.85 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Expanding Applications
One of the major trends driving the immunotherapy drugs market is the expanding applications of these drugs beyond cancer treatment. Various studies show promise for using immunotherapy drugs in the treatment of infectious diseases, neurodegenerative disorders, cardiovascular diseases, autoimmune disorders and allergic diseases. As the mechanisms of many chronic diseases get understood better at the molecular level, immunotherapy drugs are emerging as an important alternative or adjunct to existing treatment approaches. This is expanding the patient pool that can benefit from immunotherapy, thereby accelerating the growth of this market.
Segment Analysis
The global immunotherapy drugs market is segmented into product, application, end user and region. Based on product, the immunotherapy drugs market is segmented into monoclonal antibodies, adult vaccine, interferons & interleukins, checkpoint inhibitors and others. Amongst these, the monoclonal antibodies segment held the highest market share in 2023 owing to high usage of therapeutic monoclonal antibodies for the treatment of various types of cancer and autoimmune diseases.
Key Takeaways
The global Immunotherapy Drugs Market Size is expected to witness high growth during the forecast period of 2023 to 2030.
Regional analysis: North America accounted for the largest share of the global market in 2023 due to rising prevalence of cancer and autoimmune diseases along with increasing trend of advanced treatment options in the region. However, Asia Pacific is expected to witness the highest CAGR over the forecast period owing to growing healthcare spending, increasing awareness regarding benefits of immunotherapy and rising penetration of key players in the region.
Key players: Key players operating in the immunotherapy drugs market are Novozymes (Denmark), UPL (India), Chr. Hansen Holding A/S (Denmark), Syngenta (Switzerland), T.Stanes and Company Limited (India), Lallemand Inc. (Canada), Rizobacter Argentina S.A. (Argentina), Vegalab SA (Switzerland), IPL Biologicals Limited (India), Kiwa Bio-Tech, product group cooperation (China), Symborg (Spain), Kan Biosys (India), Mapleton Agri Biotec Pt Ltd (Australia), Seipasa (Spain), Agrilife (India).
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