Immunotherapy Drugs Market And its Growth prospect in the Near Future

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.

Hence, as more people get affected by chronic diseases in the future, the immunotherapy drugs sector will continue to prosper.

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Created on Aug 30th 2019 12:03. Viewed 366 times.

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