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PD-1 And PDL1 Inhibitors Market Report 2024 - PD-1 And PDL1 Inhibitors Market Analysis And Insights
PD-1 And PDL1 Inhibitors Market
According to The Business Research Company's, The pd-1 and pdl1 inhibitors/ immune checkpoint inhibitors market size has grown rapidly in recent years. It will grow from $39.8 billion in 2023 to $46.29 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to immunotherapy advancements, increased clinical success and approvals, increased cancer incidence, shift in cancer treatment paradigm, collaborations and research investments.
The pd-1 and pdl1 inhibitors/ immune checkpoint inhibitors market size is expected to see rapid growth in the next few years. It will grow to $80.1 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to expanding indications, biomarker research and personalized medicine, clinical trials and research collaborations, global healthcare infrastructure development.. Major trends in the forecast period include focus on patient access and affordability, global clinical trial collaborations, immunotherapy combinations, patient-centric approaches, regulatory updates and approvals.
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Market Drivers and Trends:
The rising prevalence of cancer cases is expected to propel the growth of the PD-1 and PDL1 Inhibitors/ Immune checkpoint inhibitors market going forward. Cancer is a condition when some cells develop uncontrollably and spread to other body parts. PD-1 and PD-L1 inhibitors help to treat cancer by harnessing the body's immune system to fight cancer cells. Hence, the rising cancer cases contribute to the growth of the PD-1 and PDL1 Inhibitors/ Immune checkpoint inhibitors market. For instance, in October 2023, according to the European Union Science Hub, a Belgium-based joint research centre of the European Commission, in the two years before to 2022, the number of new cancer cases rose by 2.3%, reaching 2.74 million. Likewise, during the previous two years, there was a 2.4% rise in cancer-related deaths. Therefore, the rise in the prevalence of cancer cases will fuel the growth of the PD-1 and PDL1 Inhibitors/ Immune checkpoint inhibitors market.
Product innovation has emerged as a key trend gaining popularity in the PD-1 and PDL1 Inhibitors/ immune checkpoint inhibitors market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, In March 2022, Bristol-Myers Squibb, a US-based pharmaceutical company, received FDA approval for Opdualag, which is a fixed-dose combination of nivolumab (Opdivo) and relatlimab, which is a LAG-3 inhibitor. Opdualag is the first LAG-3 inhibitor to receive approval from the US Food and Drug Administration (FDA) to treat patients with metastatic melanoma. The combination of nivolumab and relatlimab in Opdualag aims to enhance the immune response against cancer cells.
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Major Key Players of the Market:
Bristol-Myers Squibb Company; Merck and Company; F. Hoffmann-La Roche AG; Sanofi S.A.; Amgen Inc.; Gilead Sciences Inc.; AstraZeneca plc; Novartis AG; Pfizer Inc.; GlaxoSmithKline Plc; Regeneron Pharmaceuticals Inc.; BeiGene Ltd; Shanghai Jhunsi Biosciences Ltd.; Akeso Inc.; Alphamab Oncology; Eli Lilly and Company; Boehringer Ingelheim; Xencor Inc.; Taiga Biotechnologies Inc.; Jiangsu Alphamab Biopharmaceuticals Co. Ltd; Dr. Reddy's Laboratories Ltd.; Laekna Therapeutics; Genentech Inc.; Tracon Pharmaceuticals Inc.; Celgene; Hangzhou Sumgen Co. Ltd; Agenus Inc.; BioNTech SE; Celldex Therapeutics Inc.; CytomX Therapeutics Inc.
PD-1 and PDL1 Inhibitors/ Immune Checkpoint Inhibitors Market 2024 Key Insights:
• The pd-1 and pdl1 inhibitors/ immune checkpoint inhibitors market size will grow to $80.1 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%.
• Rising Cancer Prevalence Drives Surge In Pd-1 And Pd-L1 Inhibitors Market
• Innovative Strides Bristol-Myers Squibb's Opdualag Marks A Milestone In Pd-1 And Pd-L1 Inhibitors Market With Fda Approval
• North America was the largest region in the PD-1 and PDL1 inhibitors market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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