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Keytruda Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
Keytruda Market Size
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According to The Business Research Company's, The keytruda market size has grown strongly in recent years. It will grow from $19.71 billion in 2023 to $21.60 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to improved patient outcomes, increased adoption of immunotherapy, increased research and development, improved patient compliance, and increased adoption of keytruda.
The keytruda market size is expected to see strong growth in the next few years. It will grow to $31.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to expanding indications, emerging markets, increasing prevalence of cancer, rising healthcare expenditure, and growing demand for precision medicine. Major trends in the forecast period include demand for targeted therapies, advances in immunotherapy, advances in diagnostic technologies, demand for cancer treatment, and advances in cancer research.
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Market Drivers and Trends:
The increasing prevalence of cancer is expected to propel the growth of the keytruda market going forward. Cancer is a complex group of diseases characterized by the abnormal growth and spread of cells. The prevalence of cancer is due to genetic factors, lifestyle factors, environmental factors, and hormonal factors. Keytruda (pembrolizumab) helps in cancer treatment primarily by harnessing the body's immune system to fight cancer cells more effectively. It represents a significant advancement in cancer treatment by harnessing the power of the immune system to target and attack cancer cells, providing new hope for many patients with advanced or metastatic cancers. For instance, in May 2021, according to the National Library of Medicine, a US-based medicine library, the global cancer burden is expected to be 28.4 million cases in 2040, a 47% rise from 2020. Therefore, the increasing prevalence of cancer drives the keytruda market.
Major companies operating in keytruda market are developing innovative products such as pembrolizumab to expand treatment options. Pembrolizumab is a monoclonal antibody medication that belongs to a class of drugs known as immune checkpoint inhibitors. It is marketed under the brand name Keytruda. Pembrolizumab targets and blocks a protein called PD-1 (programmed cell death protein 1) on immune cells known as T cells. For instance, in November 2023, Merck, a US-based company that manufactures keytruda launched KEYTRUDA (pembrolizumab) in combination with fluoropyrimidine- and platinum-containing chemotherapy approved by the Food and Drug Administration, a US-based government agency. The combination has shown significant improvements in overall survival and progression-free survival compared to chemotherapy alone, making it a promising advancement in the treatment of gastric cancer. In clinical trials, this combination therapy has demonstrated enhancements in overall survival (OS), progression-free survival (PFS), and overall response rate (ORR) compared to chemotherapy used as a standalone treatment.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson Services Inc., Roche Holding AG, Merck & Co. Inc., AbbVie Inc., Sanofi S.A., Novartis AG, AstraZeneca PLC, Bristol-Myers Squibb Company, Eli Lilly and Company, Amgen Inc., Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Biogen Inc., Chugai Pharmaceutical Co. Ltd., BioNTech AG, Organon Co., Ono Pharmaceutical Co. Ltd., Samsung Bioepis Co. Ltd., Fate Therapeutics Inc., Merck Sharp & Dohme Corp., KinBio, Schering-Plough AB, LGM Pharma LLC, Gritstone Bio Inc.
Keytruda Market 2024 Key Insights:
• The keytruda market size is expected to see strong growth in the next few years. It will grow to $31.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%.
• The Rising Prevalence Of Cancer Driving Growth In The Keytruda Market
• Advancing Treatment Options With Pembrolizumab In Gastric Cancer
• North America was the largest region in the keytruda market in 2023
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