Immuno-oncology Drugs Market to Hold a High Potential for Growth by 2031 | AbbVie Inc., AstraZeneca, Bristol-Myers Squibb Company

Market Overview:

Immuno-oncology drugs work by leveraging the body's own immune system to fight cancer cells. These drugs help activate the immune system to better identify and attack cancer cells and include checkpoint inhibitors, monoclonal antibodies, cancer vaccines, and nonspecific immunotherapies (60 words).

Market Dynamics:

The immuno-oncology drugs market is expected to witness significant growth over the forecast period owing to increasing demand for targeted cancer therapies and rising research and development activities. Checkpoint inhibitors target specific immune system proteins called "checkpoints" to boost the body's anti-tumor immune response and are widely used in treating various cancers. Additionally, increasing collaborations between biopharmaceutical companies for developing innovative drugs will further propel the market growth during the forecast period.

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Growing Adoption of Cancer Immunotherapy to Drive Immuno-oncology Drugs Market Growth

Cancer immunotherapy is gaining increased prominence in the treatment of various cancers. immuno-oncology drugs directly harness the power of a patient's own immune system to fight cancer. These are known as immunotherapy drugs which work by either boosting the existing immune system of the body or by helping the immune system to recognize and destroy cancer cells. The increasing adoption of immunotherapy as a standard treatment for various cancers is a major driver for the growth of the global immuno-oncology drugs market. According to statistics, survival rates have improved significantly for certain cancers with the use of cancer immunotherapy. As more and more oncologists recognize the benefits of combining immuno-oncology drugs with other treatment modalities, their demand and usage is expected to increase exponentially in the coming years.

Increasing Research and Development Activities into Novel Combination Therapies to Fuel Market Growth

Drug makers and biotech companies are actively investing in R&D to develop more advanced and effective immuno-oncology drug therapies. Combining immuno-oncology agents that target different pathways is an area of significant research focus currently. Combination therapies that involve immune checkpoint inhibitors used along with other treatment modalities like chemotherapy, targeted therapy or radiation therapy hold promise to deliver improved clinical outcomes for cancer patients. Ongoing clinical trials are evaluating various combination regimens involving immune checkpoint inhibitors. Positive results from such combination therapy trials are likely to increase the uptake of immuno-oncology drug regimens in real-world clinical practice. This, in turn, is anticipated to present lucrative market opportunities during the forecast period.

High Cost of Immuno-oncology Drugs May Limit Widespread Adoption

While immuno-oncology drugs have shown promising results, their high cost puts them out of reach for many. These drugs often have a price tag of over $100,000 per patient, per year. A majority of immuno-oncology drugs are neither affordable nor accessible to a large section of cancer patients globally, especially in developing nations. Financing the high cost of these therapies continues to be a significant challenge. Even in developed countries with universal healthcare, the budgets of hospitals and insurance companies are under strain due to the soaring costs of immuno-oncology therapies. This price sensitivity associated with these drugs is likely to negatively impact their adoption rates to a considerable extent. However, biosimilars and increasing competition are expected to help bring down prices to some extent in the coming years.

Increasing Healthcare Expenditure in Emerging Nations to Offer Lucrative Opportunities

Most immuno-oncology drugs are currently used in the developed world by advanced economies. However, emerging economies in Asia, Latin America, Africa and Eastern Europe are witnessing rising per capita healthcare spends fueled by strong economic growth. With increasing incomes, cancer treatment is gaining higher priority among patients in these regions. This, coupled with rising awareness about latest treatment options and growing healthcare infrastructure, is creating a thriving environment for immuno-oncology therapies in emerging markets. Leading global pharmaceutical players are strategizing their focus toward these high potential markets. Introduction of lower-cost biosimilar versions of popular immuno-oncology drugs in emerging countries would also aid their widespread adoption. The market potential offered by improving healthcare ecosystem in developing nations is set to open new revenue channels for immuno-oncology drug makers over the forecast period.

Immunotherapy Combinations to Emerge as Dominant Trend in Io Market

While immune checkpoint inhibitors were the initial focus, development of combination therapy regimens is emerging as a dominant trend in the immuno-oncology therapeutics filed. This is because combination approaches harness the power of multiple immunotherapy drugs that target different pathways or complement chemotherapy/targeted therapy. Combining agents which enhance each other's anti-tumor activity while mitigating toxicity is an area of intense research currently. Some of the combinations gaining prominence include checkpoint inhibitors combined with angiogenesis inhibitors, PD-1/L1 inhibitors used with CTLA-4 inhibitors, vaccines combined with immune modulators. These novel combination regimens are showing encouraging response rates and survival benefits in clinical trials. As such combination therapies start receiving approvals and inclusion in treatment guidelines, their usage in real-world settings will become a major revenue driver for companies in the long run.

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Table of Contents with Major Points:

Executive Summary

Introduction
Key Findings
Recommendations
Definitions and Assumptions

Market Overview

Definition of Immuno-oncology Drugs Market
Market Dynamics
Drivers
Restraints
Opportunities
Trends and Developments

Key Insights

Key Emerging Trends
Key Developments Mergers and Acquisition
New Product Launches and Collaboration
Partnership and Joint Venture
Latest Technological Advancements
Insights on Regulatory Scenario
Porters Five Forces Analysis

Qualitative Insights Impact of COVID-19 on Global Immuno-oncology Drugs Market

Supply Chain Challenges
Steps taken by Government/Companies to overcome this impact
Potential opportunities due to COVID-19 outbreak
Conclusion

Appendix

Data Sources
Abbreviations
Disclaimer
TOC Continued…!

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