Immunotherapy Drugs Market Size, Growth Strategies 2022-28

The global immunotherapy drugs market size was valued at USD 159.13 billion in 2021, growing at a CAGR of 10.4% during the forecast period 2022 to 2028. Drugs used in immunotherapy can either strengthen or weaken the immune system of the body. They primarily cure cancer by boosting the immune system and inducing an immunological reaction that promotes the production of antibodies. Malignant or tumor cells are eliminated by antibodies that are produced in response to an antigen. According to research studies, immunotherapies can be used as a second line of treatment in cases of severe COVID-19. By reducing inflammation, inflammation-related lung damage, and viral load while also preventing ICU admission and mechanical ventilation, immunotherapies based on inflammatory cytokine neutralization, immunomodulation, and passive viral neutralization will further drive the market's expansion.

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Immunotherapy Drugs Market Growth Factors:
During the projection period, it is anticipated that the global incidence of chronic diseases, such as cancer, will fuel market expansion for immunotherapy medications. Your immune system is assisted in fighting cancer via immunotherapy, a sort of cancer treatment. Immunotherapy medications aid in preventing, controlling, and curing cancer (helping fight cancer). Over the course of the forecast period, rising immunotherapy medicine demand is anticipated to fuel market expansion. Worldwide demand for safe and efficient immunotherapy medications is rising as chronic illness incidence and public awareness of cancer treatment both rise.

The expansion of the global market for immunotherapy medications is anticipated to be constrained by the high cost of immunotherapy treatment (cancer treatment). For instance, it is not uncommon for immunotherapies to cost more than $120,000 per patient. These expenses can soon treble or triple since physicians now combine immunotherapies. Pharma corporations use the usefulness of these immunotherapy therapies and their ongoing investment of earnings into R&D to find new cancer treatments to justify the high cost of immunotherapy.

Immunotherapy Drugs Market Segmentation:
1) By Drugs: Vaccines (Preventive Vaccines, Therapeutic Vaccines), Monoclonal Antibodies, Interferons Alpha & Beta, Checkpoint Inhibitors, Interleukins, and Others.
2) By Therapy Area: Autoimmune & Inflammatory Diseases, Cancer, Infectious Diseases, and Others.
3) By End User: Hospitals/Clinics, Cancer Research Centre, and Others.

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Immunotherapy Drugs Market Regional Analysis:
In 2022, North America dominated the world market for immunotherapy. The population's increased prevalence of chronic diseases, rising healthcare costs, and easy access to healthcare facilities have all increased the demand for immunotherapy medications. The high cost of healthcare is a result of the advantageous reimbursement rules and the rising prevalence of healthcare insurance. Furthermore, at least one chronic disease affects 50% of the population in the US. In 2022, North America dominated the market globally, contributing more than 45.95% of the total revenue.

Major players working in the immunotherapy drugs market are Pfizer Inc, AstraZeneca, Johnson & Johnson, Novartis International AG, GlaxoSmithKline Plc, Merck & Co, AbbVie Inc, Immatics Biotechnologies.

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