Immunotherapy Drugs Market Industry Analysis, Size, Trends and Future Scope
by Pramod Kumar Digital Marketing ProfessionalThe 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.
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Created on Dec 18th 2019 03:09. Viewed 252 times.