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Checkpoint Inhibitors Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends
Checkpoint Inhibitors Global Market Report 2024
According to The Business Research Company's, The checkpoint inhibitors market size has grown rapidly in recent years. It will grow from $32.41 billion in 2023 to $37.88 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to rising incidence of cancer, increasing awareness of checkpoint inhibitors, expanding range of approved checkpoint inhibitors, research and development on checkpoints novel inhibitors, clinical trials and research.
The checkpoint inhibitors market size is expected to see rapidly grown in the next few years. It will grow to $55.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to expanding indications, biomarker discovery, combination therapies, personalized medicine, expanded indications. Major trends in the forecast period include precision immunotherapy, immune checkpoint combinations, cell therapy integration, biosimilars, immunotherapy combinations, .
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Market Drivers and Trends:
The rise in the number of cancer cases across the globe is likely to contribute to the growth of the checkpoint inhibitors market during the forecast period. For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. Checkpoint inhibitors targeting the checkpoints are very helpful as cancer therapies. Therefore, the rise in cancer incidence rates globally is anticipated to boost for checkpoint inhibitors market demand.
Major companies in the checkpoint inhibitor market are forming partnerships or collaborations for the development of advanced technologies such as bifunctional fusion proteins or Y-trap. Most patients with cancer do not respond to immune checkpoint inhibitors. To make immunotherapies more effective, a group of researchers has developed the bifunctional fusion protein or Y-trap. This drug is created by fusing a receptor for a protein called TGF-beta that targets checkpoint proteins such as PD-L1 or CTLA-4. Y- Trap targets both a checkpoint inhibitor and TGF-beta and gives a more effective way to block the immune suppression and destroys the cancer cells. Merck, a prominent science and technology group, and GSK, a research-based global healthcare company, have announced that they have entered into a global strategic partnership to jointly create and market M7824 (bintrafusp alfa). M7824 is an investigational bi-functional fusion protein immunotherapy that is currently in clinical research, including possible registration trials, for various difficult-to-treat cancers. This includes a Phase II study to investigate M7824 compared to pembrolizumab as a first-line treatment in patients with PD-L1 expressing advanced non-small cell lung cancer (NSCLC). In another instance, in June 2021, GSK plc, a UK-based pharmaceutical industry company, entered into a collaboration with ITeos Therapeutics, a US-based biotech company. With collaboration, both companies aim to accelerate the development and commercialization of EOS-448. Combine GSK's expertise in immuno-oncology with iTeos' expertise in TIGIT biology and share the risk and reward of developing and commercializing EOS-448.
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Major Key Players of the Market:
AstraZeneca plc; Bristol-Myers Squibb Company; Merck & Co. Inc.; Roche Holding AG; Pfizer Inc.; Incyte Corporation; Novartis AG; NewLink Genetics Corporation; Seattle Genetics Inc.; Celldex Therapeutics; GlaxoSmithKline plc; Innate Pharma S.A.; Ono Pharmaceutical Co. Ltd.; Juno Therapeutics; Kite Pharma; Eli Lilly and Company (ARMO Biosciences.); Fortress Biotech; Argenx SE; MacroGenics; CureTech; Sorrento Therapeutics; Sanofi S.A; F. Hoffmann-La Roche Ltd; AbbVie Inc.; Amgen Inc.; Astellas Pharma Inc.; Bayer AG; Biogen Inc.; Boehringer Ingelheim International GmbH; Celgene Corporation; Daiichi Sankyo Company Limited; Eisai Co. Ltd.; Gilead Sciences Inc.; Kyowa Kirin Co. Ltd.; Johnson & Johnson; Regeneron Pharmaceuticals Inc.; Takeda Pharmaceutical Company Limited; Teva Pharmaceutical Industries Ltd.; Vertex Pharmaceuticals Incorporated; Y-mAbs Therapeutics Inc.; Zai Lab Limited
Checkpoint Inhibitors Market 2024 Key Insights:
• The checkpoint inhibitors market size will grow to $55.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%.
• Global Rise In Cancer Cases Fuels Growth Prospects For Checkpoint Inhibitors Market
• Strategic Collaborations And Innovative Technologies Transforming The Checkpoint Inhibitor Market
• North America was the largest region in the checkpoint inhibitors market in 2023
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