JERSEY CITY, New Jersey, June 10, 2020
The onset of cancer diseases and the increased preference for monoclonal antibodies and biosimilars is the crucial factor responsible for the surge in market growth
JERSEY CITY, New Jersey, June 10, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Immunotherapy Drugs Market by Therapy Area (Cancer, Autoimmune and Inflammatory Diseases, Infectious Diseases), by End User (Hospitals, Clinics), by Type of Drug (Monoclonal Antibodies, Adult Vaccines, Preventive Vaccines, Therapeutic Vaccines, Checkpoint Inhibitors, Interferons Alpha & Beta, Interleukins)". According to the report, Global Immunotherapy Drugs Market was valued at USD 142.87 Billion in 2019 and is projected to reach USD 321.98 Billion by 2027, growing at a CAGR of 10.7% from 2020 to 2027.
This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.
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Browse in-depth TOC on "Immunotherapy Drugs Market"
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Global Immunotherapy Drugs Market Overview
The onset of cancer diseases is one of the significant reasons for the rise of Immunotherapy Drugs in the market. The National Cancer Institute states that in 2018, around 1,735, 350 new cancer cases were diagnosed in the United States. The new cancer cases are 439.2 per 100,000 men and women per year. The increased preference for monoclonal antibodies and biosimilars is the crucial factor responsible for the surge in market growth. The monoclonal antibodies are useful since the research scientists can design antibodies that can specifically target a particular cancer antigen. Various copies of the antibodies can be prepared by in vitro techniques in the laboratory. Biosimilars are of vital importance to treat cancer. Biosimilars are not generic drugs. The biologic drugs are quite prominent in structure and complicated to make than chemical medications. It is impossible to prepare an original drug copy; hence a biosimilar or a highly similar copy is made. The biosimilar must follow the FDA's strict guidelines and regulations and continuous evaluation to guarantee safety and quality.
The highest command of personalized medicines by the patient population will pave the way for profitable opportunities in the market. Improved patient outcomes were reported from two-thirds of respondents, by intake of personalized medicine. The customized medicine allows the doctor to treat the patients without forfeiting the quality. Precision medicines aim to match the treatment procedure with the individual body immunity system to select patients taking into consideration their genetic makeup, medical history, test results. The treatments may be coordinated to the genetic abnormalities of the tumor. The DNA mutations in a patient's tumor can sometimes be screened by genetic testing or by DNA sequencings, such as in the Profile genotyping research program of Dana-Farber/Brigham and Women's Cancer Center. Artificial Intelligence will augment combination therapy from the preclinical trials through stages of validation, globally. The widespread placement of personalized medicine technologies will comprise the junction of several factors ranging from evolving education at the interface of engineering, medicine, and guidelines that encourage new clinical trial designs to ascend the use of electronic medical records (EMR).
However, there are certain restraints and challenges which are likely to deter market growth. The increased cost involved in manufacturing the drugs and used in the treatment protocol. Sometimes it has been observed that the effectiveness of the drug is changeable. There is a necessity for more effective and predictive biomarkers. Predictive biomarkers are the user in daily practice since they provide the selection of patients who will obtain the most significant benefits from treatment, as well as the elimination of patients who are unlikely to respond. This creates a hindrance to the identification and localization of the tumor. There is still a scarcity of consciousness about the applicability of Immunotherapy drugs among the consumer population. This causes an interruption in diagnosis and treatment. The major players in the market are F. Hoffmann-La Roche Ltd. (UK), Pfizer Inc. (US), Merck & Co (US), Novartis International AG (UK), Johnson & Johnson (US), Sanofi (France), GlaxoSmithKline Plc (UK), Amgen Inc. (US), AbbVie Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca (UK), and Immatics Biotechnologies (Germany), BioNTech SE, Genmab, Gilead Sciences, NBE Therapeutics, Teva Pharmaceuticals, Bayer, and Bristol-Myers Squibb.
Verified Market Research has segmented the Immunotherapy Drugs Market on the basis of Product, End Use, Therapy Area and Geography.
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