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Immunotherapy Drugs Market Provides Information on the Historical and Current Market Size, Demand and the Future Potential of the Market
These drugs are used in cancer treatment to restrict the growth of cancer cell and prevent it from growing to the other parts of the body. Immunotherapy drugs are an effective treatment for autoimmune diseases, immunodeficiency, inflammatory diseases, and biological infectious diseases. The development and launch of new immunotherapy drugs such as elotuzumab, zanolimumab, onartuzumab into the market is expected spur the growth of the global immunotherapy drugs market during the forecast period.
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Moreover, the prevalence of lifestyle diseases is increasing significantly. According to the Centers for Disease Control and Prevention (CDC), 614,348 people died from heart diseases in 2015, in the U.S. According to the World Health Organization (WHO), approximately 17.7 million people died from CVDs in 2015, representing 31.0% of all global deaths. Of these deaths, an approximate of 7.4 million deaths were due to coronary heart disease and 6.7 million were due to stroke. Therefore, increasing prevalence of lifestyle diseases has a positive impact on the growth of the global immunotherapy drugs market.
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Geographically, North America was the largest market for immunotherapy drugs in 2016. Some of the key factors driving the growth of the immunotherapy drugs market in North America include, rising prevalence of cancer, presence of the established players in the region, increasing research and development investments and high healthcare expenditures. Private health insurance plays an important role in U.S.healthcare system, and provides primary healthcare coverage to large population group leading to affordability of better healthcare facilities.
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In January 2017, AbbVie, Inc. received FDA approval for IMBRUVICA, used to treat patients with relapsed/refractory (R/R) marginal zone lymphoma (MZL) and require systemic therapy, and has received at least one prior anti-CD20-based therapy.
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