Dublin, Dec. 13, 2021 (GLOBE NEWSWIRE) -- The "Drugs for Immunotherapy Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global drugs for immunotherapy market is expected to grow from $149.31 billion in 2020 to $160.43 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%. The market is expected to reach $248.27 billion in 2025 at a CAGR of 11.5%.
The high cost of immunotherapy drugs is acting as a restraint on the drugs for immunotherapy market as a smaller number of patients can afford the treatment. Immunotherapy drugs are expensive as drugs are made specifically for each patient and investment costs in the research and development are high.
Manufacturers of immunotherapy drugs are increasingly collaborating or partnering with other companies to share technology, resources, product knowledge and expand business.
The immunotherapy drugs market is being driven by rising incidences of cancer globally. According to the American Cancer Society, in 2019, around 606,880 deaths were caused in USA due to prevalence of the cancer. The Cancer Research UK predicts that there will be 27.5 million new cases of cancer each year by 2040. The rising incidences of cancer are expected to increase the demand for immunotherapy drugs driving market growth.
Manufacturers of immunotherapy drugs are governed by various regulatory bodies such as the Food and Drug Administration in the USA. The Food and Drug Administration (FDA) regulates drugs and biologics under the authority granted to it by the Federal Food, Drug, and Cosmetic Act (FD&C Act) and its amendments. Under this authority, FDA regulates the pre-market testing and marketing approval for all immunotherapeutic agents, either as drugs or biologics depending on the source and function of the investigational agent. Immunotherapeutic products that are regulated as biologics include antibodies and proteins and some nucleic acids.
The report focuses on the drugs for immunotherapy market which is experiencing strong growth. The report gives a guide to the drugs for immunotherapy market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The Market Characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Companies Mentioned
- F. Hoffmann-La Roche Ltd
- Novartis AG
- Amgen Inc
- AbbVie Inc
- Merck & Co. Inc
- GlaxoSmithKline
- Eli Lilly and Company
- Bristol-Myers Squibb
- AstraZeneca plc
- Johnson & Johnson
- UbiVac
For more information about this report visit https://www.researchandmarkets.com/r/pgt1fd
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