IMMUNOTHERAPY DRUGS MARKET

 

Market Overview:

               Throughout the projected period, the market for immunotherapy medications is anticipated to grow at a CAGR of 8.4%. (2022-2027)
The unexpected pandemic outbreak increased demand for immunotherapy drugs for COVID-19 treatment due to their safety and efficacy, hence COVID-19 had a positive effect on the market for immunotherapy drugs. For instance, the article "Real-world effectiveness and tolerability of monoclonal antibody therapy for ambulatory patients with early COVID-19" published in January 2021 stated that monoclonal antibody treatment of high-risk ambulatory patients with early COVID-19 was well tolerated and probably effective at avoiding the need for further ER or hospital care.

               Growing direct and indirect investments in research and development (R&D) by pharmaceutical and biotechnology businesses, as well as an increase in the number of research facilities and research collaborations, will all contribute to the market's expansion in the years to come. For instance, GlaxoSmithKline plc and Vir Biotechnology joined together with the US government in January 2022 to buy extra Sotrovimab for the early management of COVID-19. Such collaborations with governmental institutions for the provision of immunotherapy medications are anticipated to fuel market expansion.

Key Market Trends:

          Cancer is an unnatural increase in cell size within the body. Cancer comes in over a hundred different varieties. According to GLOBOCAN data, there were approximately 2,261,419 (11.7%) new cases of breast cancer, 2,206,771 (11.4%) new cases of lung cancer, and 1,931,590 (10%) new cases of colorectal cancer in 2020. One in four cancer diagnoses among women worldwide is breast cancer. Women are also more likely than men to develop thyroid, lung, cervical, and colorectal cancer. Because of the increased need for efficient therapies like immunotherapy medications, the incidence of cancer is anticipated to increase in the next years. 

 Immunotherapies come in a variety of forms and are used to treat cancer. Immune checkpoint inhibitors, T-cell cell therapy, cancer vaccines, and immune system modulators are a few examples of immunotherapies. Numerous cancer kinds and their later stages are treated with these medicines. Rituxan, Yervoy, Adcetris, and Zevalin are a few of the widely used immunotherapy medications. New cancer treatment products are being introduced by industry participants, which is anticipated to accelerate market expansion. For instance, Dr.laboratories Reddy's introduced the cancer medication Capecitabine pills to the American market in February 2021.
  
Through the course of the forecast, North America is anticipated to hold a sizable portion of the market. This is brought on by the rising senior population, increased cancer incidence, and rising acceptance of immunotherapy throughout the area.
The COVID-19-causing severe acute respiratory syndrome coronavirus-2 (SARS-2-CoV) virus is more likely to infect cancer patients. As a result, scientists are working to create COVID-19 treatments that are efficient. For instance, the Canadian Cancer Trials Group is undertaking a phase III clinical trial to see if immunising with IMM-101 can lower the frequency of severe respiratory infections and COVID-19 infections in cancer patients, according to a report published in 2020 on clinical trials.gov. Beginning in June 2020, the study is anticipated to end in December 2022.


          

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