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Immunotherapy Drugs Market Segmentation And By Key Players GlaxoSmithKline, F. Hoffmann-La Roche AG, AbbVie, In., Merck & Co.,Amgen, Bristol-Myers Squibb, Eli Lilly and Company

11-13-2018 03:55 PM CET | Health & Medicine

Press release from: Coherent Market Insights - Biotechnology

Immunotherapy Drugs

Immunotherapy Drugs

Another important factor driving the growth prospects ofthe global immunotherapy drugs market is the materialization of biosimilars. Dissimilarto generic drugs that have active pharmaceutical ingredients alikeoriginal drugs, biosimilars are nearly identical to their creator biologic compounds. In view of the fact that biosimilars are less expensive and aid to make managementof diseases more reachable for the patients than biologics, the sale of biosimilars among the patients and hospitals alike is likely to riseconsiderably during the forecast period thereby augmenting the overall growth of the immunotherapy drugs market.

On the basis of therapy area, the cancer segment is likely to hold the maximum market share in 2016. The large share along with the high growth of this segment is due to the high predilection for immunotherapy as a first line of treatment in the management of cancer thereby leading to rising demand for the global immunotherapy drugs. On the basis of product type, the mAbs segment accounted for the maximum share of the market. The improvement of new drugs as well as the entry of new molecules such as zanolimumab, elotuzumab, onartuzumab, and obinutuzumab into the market will drive the growth of the global immunotherapy drugs market over the forecast period.

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Immunotherapy Drugs Market Taxonomy

On the basis of product type,

Vaccines
mAbs
Non-specific immunotherapies
Immune checkpoint inhibitors

Another important factor driving the growth prospects ofthe global immunotherapy drugs market is the materialization of biosimilars. Dissimilarto generic drugs that have active pharmaceutical ingredients alikeoriginal drugs, biosimilars are nearly identical to their creator biologic compounds. In view of the fact that biosimilars are less expensive and aid to make managementof diseases more reachable for the patients than biologics, the sale of biosimilars among the patients and hospitals alike is likely to riseconsiderably during the forecast period thereby augmenting the overall growth of the immunotherapy drugs market.

An increase in the prevalence of cancer and a number of autoimmune diseases, the demand for immunotherapy drugs is likely to increase. Moreover, with the rising need for mAbs, the immunotherapy drugs market is anticipated to have a positive outlook till the end of the forecast period 2016-2024. MAbs have a high affinity towards the specific disease cells as well as areas that require treatment. Accordingly, they can be utilized for therapies such asantibody-directed enzyme prodrug therapy and radio immunotherapy. The increaseduse of these antibodies in the drug development processis likely toaid to boost the market’s revenue making capacity over the forecast period.

"Increasing prevalence of cancer and rise in demand from the Asia Pacific region will drive the overall immunotherapy drugsmarket"

According to National Cancer Institute, around 1,685,210 new cases of cancer are likely to be diagnosed in the U.S. in 2016 and about 595,690 people are estimated to die from the disease. Since immunotherapy is used as a first line of treatment in the management of cancer, the market immunotherapy drugs market will grow accordingly. North America is the largest region in the global immunotherapy drugs market and is expected to retain its dominance over the forecast period. Asia Pacific is likely to be the fastest-growing marketover the forecast period. The elevated growth of this region can mainly be attributed to low cost of manufacturing of these drugs in the region, rising occurrence of cancer and favorable regulatory framework in this region.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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