At 8.9% of CAGR, Immunotherapy Drugs Market Size to Cross US$ 327.8 Billion by 2028 - IMARC Group

The latest research study "Immunotherapy Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global immunotherapy drugs market size reached US$ 195.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 327.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.9% during 2023-2028.

Immunotherapy drugs represent specialized medications that are used for treating melanoma, lymphoma, sarcoma, and lung, bladder, kidney, and breast cancer. They usually target specific cells of the immune system and boost energy levels. In line with this, immunotherapy drugs stimulate the natural defenses of the body and help in fighting against allergies and infections caused by viruses and bacteria. They also assist in preventing the growth of cancer cells by triggering an immunological response that generates antibodies. Furthermore, immunotherapy drugs are effective in minimizing the complications of tumors and other chronic disorders. Consequently, they are gaining extensive traction across the globe.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Immunotherapy Drugs Market Trends and Drivers:

The expanding geriatric population and the elevating prevalence of tumor and target diseases are primarily driving the immunotherapy drugs market. Additionally, the rising occurrence of numerous genetic and lifestyle disorders and the increasing awareness among healthcare professionals and individuals towards the benefits of early diagnosis and treatment of cancer are further catalyzing the market growth. Besides this, the escalating demand for monoclonal antibodies and biosimilar drugs and the growing number of hospitals, pharmacies, and research laboratories are acting as significant growth-inducing factors. Moreover, key market players are focusing on strategic collaborations and new product developments to expand their product portfolio and gain a competitive edge, which is also positively influencing the global market. Apart from this, extensive investments in R&D activities by leading pharmaceutical and biotechnology companies to enhance the formulation of these medications are expected to fuel the immunotherapy drugs market over the forecasted period.

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Immunotherapy Drugs Market Report Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• AstraZeneca plc
• Bayer AG
• Boehringer Ingelheim International GmbH
• Bristol-Myers Squibb Company
• F. Hoffmann-La Roche AG
• GSK plc, Merck & Co. Inc.
• Pfizer Inc. and Sanofi S.A.

The report has been segmented the market into following categories:

Breakup by Type:
• Monoclonal Antibodies
• Vaccines
• Interferons Alpha and Beta
• Interleukins

Breakup by Therapy Area:
• Cancer
• Autoimmune and Inflammatory Diseases
• Infectious Diseases
• Others

Breakup by End User:
• Hospitals
• Clinics
• Others

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Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.