LONDON, Jan. 18, 2017 /PRNewswire/ -- The global immunotherapy drugs market is projected to reach USD 201.52 billion by 2021 from USD 108.41 billion in 2016, growing at a CAGR of 13.5% during the forecast period of 2016 to 2021.
In this report, the immunotherapy drugs market is segmented on the basis of type of drugs, therapy area, end user, and region. Increasing adoption of targeted therapies with fewer side effects, quicker drug approval processes, and high prevalence rate of lifestyle diseases are major growth drivers of this market. On the other hand, the high cost of immunotherapy treatment, and high attrition rate in the product development cycle are the major factors hindering the growth of the immunotherapy drugs market. However, rising opportunities in the emerging markets, and immunotherapy as an alternative to chemotherapy for first line treatment are the factors supporting the growth of immunotherapy drugs market.
Based on type of drugs, the market is segmented into monoclonal antibodies, adult vaccines, checkpoint inhibitors, interferons alpha & beta, interleukins, and others. Adult vaccines segment is further categorized into preventive vaccines and therapeutic vaccines. Monoclonal antibodies segment is expected to account for the largest market share in the immunotherapy drugs market, by type of drugs in 2016. On the other hand, checkpoint inhibitors segment is expected to be the fastest growing segment in the immunotherapy drugs market, by type of drugs, in 2016. The high growth of this segment can be attributed to factors such as increasing adoption of checkpoint inhibitors in cancer treatment with their ability to target only foreign cells leaving normal cells alone.
On the basis of therapy area, the immunotherapy drugs market is segmented into cancer, autoimmune & inflammatory diseases, infectious diseases, and others. Among these segments, the cancer segment is expected to account for the largest market share in 2016. Cancer segment is also expected to be the fastest growing segment in the immunotherapy drugs market, by therapy area in 2016. The large share and high growth of this segment can be attributed to factor such as high preference for immunotherapy as a first line of treatment in cancer leading to growing demand for immunotherapy drugs.
Based on geography, the immunotherapy drugs market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to account for largest share in the immunotherapy drugs market, by region in 2016. Asia-Pacific is expected to be the fastest-growing regional segment in the immunotherapy drugs market. The high growth of this segment can primarily be attributed to the low cost of manufacturing and acceptable regulatory scenario in this region.
Acquisitions and new product approval was the most widely adopted growth strategy pursued by players in the immunotherapy drugs market, to increase their shares and cater to the unmet needs. The major players operating in the immunotherapy drugs market include F. Hoffmann-La Roche AG (Switzerland), GlaxoSmithKline (U.K.), AbbVie, Inc. (U.S.), Amgen, Inc. (U.S.), Merck & Co., Inc. (U.S.). Bristol-Myers Squibb (U.S.), Novartis International AG (Switzerland), Eli Lilly and Company (U.S.), Johnson & Johnson (U.S.), and AstraZeneca plc (U.K.).
The report provides a picture immunotherapy drugs market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as type of drugs, therapy area, end user, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Reasons to buy this report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the immunotherapy drugs market. The report provides an analysis of the immunotherapy drugs market, by treatment modality, application, and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the immunotherapy drugs market
- Market Development: Comprehensive information about lucrative emerging markets. This report provides an analysis of the immunotherapy drugs market across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global immunotherapy drugs market
- Competitive Assessment: In-depth assessment of market strategies, product portfolios, and manufacturing capabilities of the leading players in the global immunotherapy drugs market
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