Immunology Market to Hit USD 158.69 Billion by 2028 | Immunology Industry Size, Share, Growth & Forecast Report

Immunology Market Worth USD 158.69 Billion at 8.1% by 2028 Owing to Increasing Prevalence of Chronic Ailments in North America

Pune, India, Nov. 30, 2021 (GLOBE NEWSWIRE) -- The global immunology market size is expected to showcase exponential growth by reaching USD 158.69 billion by 2028 while exhibiting a CAGR of 8.1% between 2021 and 2028. Fortune Business Insights in its report, titled “Immunology Market, 2021-2028.”, mentions that the market stood at USD 85.74 billion in 2020. Factors such as the increasing demand for biosimilars worldwide will boost the demand for the product during the forecast period.

The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.

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Increasing Adoption of Biosimilars to Aid Growth

In February 2021, Sandoz Canada introduced adalimumab (HUMIRA) biosimilar, Hyrimoz, in Canada. The company informs that the drug has received approval and provides high efficacy in treating autoimmune diseases such as rheumatoid arthritis, psoriatic arthritis, adult Crohn’s disease, and adult uveitis, among others.

The rising number of successful clinical trials is driving the demand for biological drugs leading several companies to invest in R&D to develop biosimilars, an affordable and effective imitation of the biological drugs. Therefore, the increasing demand for such products is expected to favor the global immunology market growth during the forecast period.  

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North America - North America stood at USD 46.17 billion in 2020 and is likely to hold the highest position in the market during the forecast period. This is due to the increasing prevalence of chronic ailments and the higher diagnosis rate of the patients that will boost the adoption of advanced immunology drugs in the region.

Europe – The market in the region is expected to experience considerable growth backed by the increasing prevalence of chronic disorders such as rheumatoid arthritis that propels the demand for effective immunology therapies and drugs in the region between 2021 and 2028. For instance, according to the British Society for Immunology, around 400,000 people in the U.K. suffered from rheumatoid arthritis in 2018.

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Key Players Adopt Strategies Such as Merger and Acquisition to Brighten Their Market Prospects

The market is witnessing massive competition among the players that are highly focused on strengthening the footprint. These players are acquiring other smaller enterprises to expand their immunology drugs portfolio and further boost sales revenue. Furthermore, the other key companies are leveraging the opportunities provided by the market by adopting proactive organic and inorganic strategies that will aid in maintaining their presence in the forthcoming years.

Industry Development:

  • May 2020 - AbbVie, Inc. announced the acquisition of Allergan Plc with an aim to expand its presence and strengthen its position in the pharmaceuticals sector across the globe.

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List of the Companies Profiled in the Global Market:

  • Pfizer Inc. (New York, U.S.)
  • F. Hoffmann-La Roche Ltd. (Basel, Switzerland)
  • AbbVie, Inc. (North Chicago, U.S.)
  • Bristol-Myers Squibb Company (New York City, U.S.)
  • Merck Sharp & Dohme Corp. (New Jersey, U.S.)
  • Novartis AG (Basel, Switzerland)
  • Janssen Global Services, LLC (Raritan, New Jersey, U.S.)
  • Amgen Inc. (California, U.S.)
  • Astellas Pharma Inc. (Tokyo, Japan)
  • UCB SA (Brussels, Belgium)
  • Eli Lilly and Company (Indianapolis, U.S.)
  • Other Prominent Players

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