Immunotherapy Drugs Market Industry Analysis, Size, Trends and Future Scopeby Pramod Kumar Digital Marketing Professional
The key driver of this market is an increase in the prevalence of chronic diseases and thriving demand and development of monoclonal antibodies (mAbs) and immunotherapy drugs. Immunotherapy refers to the treatment of a disease by enhancing, inducing, or suppressing an immune response.
Across the globe, the increasing prevalence of chronic diseases has become a major healthcare burden, as it affects people in high-income as well as low and middle-income countries (LMIC). According to a World Health Organization report, the fact that cancer led to an estimated 9.6 million deaths in 2018 firmly cements this claim. The organization further reported that around 70% of all deaths from cancer occur in LMICs.
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Moreover, the rise in the implementation of target therapy, thriving demand and development of mAbs, and increasing availability of biosimilars are contributing to the growth of the domain. There are various drugs available in the immunotherapy drugs market for the treatment of cancer, psoriasis, rheumatoid arthritis, and multiple sclerosis. However, there are several more drugs manufactured by market players that are under clinical trials. Thus, it is clear that the rising production and easy availability of such drugs are taking the market forward.
That same month, Allogene Therapeutics Inc. and Pfizer Inc. signed an asset contribution agreement to use Pfizer’s allogeneic CAR-T therapy, which is investigational immune cell therapy, for cancer. This agreement provided an opportunity for Pfizer Inc. to continue the development of the CAR-T therapy. Other players operating in the global immunotherapy drugs market, such as AstraZeneca PLC, F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Sanofi, Medigene AG, AbbVie Inc, Johnson & Johnson, Amgen Inc., Merck & Co. Inc., GlaxoSmithKline plc, C. H. Boehringer Sohn AG & Co. KG, Novartis International AG, Takeda Pharmaceutical Company Limited, and Celgene Corporation, are taking similar steps.
Hence, as more people get affected by chronic diseases in the future, the immunotherapy drugs sector will continue to prosper.
Created on Dec 18th 2019 03:09. Viewed 78 times.