The global next generation immunotherapies market is expected to reach a valuation of USD 112.88 Billion in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 7.5% from 2023 to 2033. The majority of existing immunotherapies, along with checkpoint inhibitors, aim to improve the adaptive immune system's response, especially cytotoxic T cells, in order to combat cancer. As a result, this is anticipated to contribute to market expansion.
The market is being driven by the rising pervasiveness of oncology around the world, as well as an increase in research and development investments for the creation of breakthrough oncology therapeutic strategies. Furthermore, the existence of multiple organizations that permits immunotherapy studies is expected to drive market expansion. For instance, the Parker Institute for Cancer Immunotherapy partnered with scientists and commercial leaders to establish breakthrough immune therapeutic approaches for cancer. Based on the Global Cancer Observatory, the United States had approximately 2,281,658 cancer cases in 2020, with 612,390 cancer-related moralities.
On the other hand, North America is expected to lead the overall industry in terms of sales in 2021, owing to the existence of a huge number of prominent companies, in addition to numerous Strategic events organized by them. Furthermore, the rise in the incidence of disease, the existence of multiple government and non-government corporations that support cancer immunotherapy experiments, and the escalating authorization of novel drugs are bolstering the regional market growth. Asia Pacific is expected to expand at the highest rate during the forthcoming years. Several of the main factors leading growth are an upsurge in the aging population, a huge patient platform of an aimed disease, and improved medical facilities. The 7th Annual Immuno-Oncology Summit Europe, coordinated by CHI, reverts to London's Canary Wharf for three days of research and technology consultations on the latest breakthroughs in the creation of favorable immuno-oncology treatments. The Summit, scheduled for June 20-22, 2023, will feature four meeting programs ranging from techniques for Modulating the Tumor Microenvironment to numerous therapeutic approaches such as Next-Generation Cell-Based Immunotherapies, Bispecific/Multi-Specific Antibody Therapies, and Gamma Delta Immunotherapy.
Among the drug class segments, monoclonal antibodies had the highest market share in 2021. The elevated prescription percentage of monoclonal antibodies, as well as the focused impact of monoclonal antibodies, are credited to the segment's expansion. Owing to the increasing incidence of disease in conjunction with high treatment rates, growing awareness and enhanced diagnostic test of malignancies, and an elevated volume of hospitals that provides immunotherapies intervention, the hospital Pharmacies segment was the largest distribution channel segment in 2021. In addition, numerous patients, particularly seniors and those with serious respiratory infections, are placed on ventilation systems for intensive care. In certain cases, intravenous solutions are continuously administered to such patients in order to ensure proper nutrition. As a consequence, among the route of administration segments, the intravenous segment is anticipated to hold the highest proportion.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 112.88 Billion |
| Anticipated Forecast Value (2033) | USD 268.84 Billion |
| Projected Growth Rate (2023 to 2033) | 7.5% CAGR |
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Since mid-2019, a novel coronavirus known as severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) has wreaked astounding havoc around the globe. This prompted global efforts to research therapeutic interventions and vaccines against SARS-COV-2, and certainly, multiple vaccines are now authorized for the case of emergencies usages. As a result, the industry for next-generation immunotherapies has grown significantly over the last few years.
Cancer immunotherapy and tumor microenvironment scientific studies have been at the frontlines of recent decades. Addressing immune checkpoints, especially programmed death 1 (PD-1)/programmed death-ligand 1 (PD-L1), has resulted in the emergence of the treatment of advanced cancers. As a result, during the projected timeline. As a result of the release of possible new therapies, the industry for next-generation immunotherapy is expected to grow positively in the years ahead. According to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 6.9%.
Numerous government and non-government organizations are raising awareness to uplift market growth
The involvement of different administrations and non-government organizations that raise knowledge and encourage research is helping to expand the market. For example, the Cancer Research Institute funded over 118 clinical trials and invested approximately USD 475 million in analysis.
Furthermore, the Society for Immunotherapy of Cancer (SITC) is committed to enhancing treatment experience through the advancement of cancer care immunotherapy science and implementation. These organizations are collaborating with researchers and scholars to develop novel immunotherapy therapeutic strategies.
Rising funding for the development of novel therapeutics to stimulate Market Growth
Raising funding for the advancement of novel therapeutics is anticipated to increase R&D initiatives in order to establish the Industry for Next Generation Immunotherapies.
For instance, in June 2022, a community of Stanford scientists obtained USD 13 million from Cancer Grand Challenges, a financing venture launched by Cancer Research UK and the National Cancer Institute in the United States. This investment will be used to establish next-generation immunotherapies, research extrachromosomal DNA, and investigate early-stage cancers.
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High Costs to Hinder Market Growth
However, the adverse effects of immunotherapy are expected to decrease the number of cancer treatments prescribed. The obtainable treatments are correlated with a variety of side effects, including pain, insomnia, exhaustion, nausea, and digestive disturbances.
These complications have an impact on patient's general quality of life, and handling them involves additional costs. Furthermore, long-term utilization of immunotherapeutic drugs may lead to severe organ harm and boost the number of incidents of organ failure.
The disease's rising incidence steers the North American market
North America dominated the next generation immunotherapies marketplace in terms of revenue in 2021, owing to the rising large number of major players, as well as key Organizational activities to be adopted by them.
Besides that, the escalating incidence of the disease, the inclusion of numerous government and non-government groups that promote cancer immunotherapy experiments, and the rising approbation of novel pharmaceuticals are bolstering regional market development. For instance, the FDA in the United States authorized Opdivo (nivolumab) for the treatment of NSCLC in older patients in April 2022.
Furthermore, according to Thandra et al. (2021), 77,200 new cases of NHL were detected in the US in 2020, holding for 4.3% of all cancer diagnoses, with 19,900 mortalities in 2020, accounting for 3.3% of all cancer-related deaths.
Significant number of cancer patients requiring treatment propels market growth
The market for next-generation immunotherapies in the Asia Pacific, specifically in China, India, and Japan, is anticipated to expand rapidly during the forthcoming years. This industry's growth is anticipated to be fueled by a huge pool of patients requiring treatment for cancer, soaring cancer incidence, assertive investment by industry participants, rising government expenditure on health coverage, and rising disposable income of the inhabitants, which will strengthen adherence to treatment. Furthermore, the dearth of stringent guidelines and liberalization in Asian countries contributes to Asia Pacific's favorability as a business.
Furthermore, growing regulatory authorizations of immune therapies in the region are spurring the region's growth. For instance, the National Medical Products Administration of China authorized Pembrolizumab and Durvalumab for the diagnosis of esophageal cancer and SCLC between 2020 and 2022.
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Monoclonal Antibodies Segment is Estimated to Hold the Largest Share
Among the drug class, monoclonal antibodies dominated the market share of 71% in 2021, and are expected to grow at a stable pace over the forecast period. The elevated prescription percentage of monoclonal antibodies, the aimed impact of monoclonal antibodies, comparatively fewer adverse effects, and the positive business performance and revenues of foremost monoclonal antibodies such as Keytruda, Yervoy, and Opdivo all contribute to the segment's expansion. For instance, Bristol-Myers Squibb Company stated a 5% rise in Opdivo and Yervoy profits in Q1 2022 compared to Q1 2021.
Hospital Pharmacies Segment is Estimated to Hold the Largest Share
With a market share of 56.71% in 2021, the hospital pharmacy segment dominated the industry. The rising adoption of immunotherapy in hospitals, along with increased hospitalization owing to an increase in oncology ailments, is fueling the expansion of hospital pharmacies.
To strengthen their market presence, players in the keratitis treatment market sector are introducing novel and unique product lines, and the above-mentioned start-ups have left no stone unturned. A few specific instances of significant keratitis treatment market start-ups are as follows:
Key players in the next generation immunotherapies market are Bristol Myers Squibb, Regeneron Pharmaceuticals, MacroGenics, Boehringer Ingelheim, Mereo BioPharma, Huabo Biopharm, Sigma-Baldric, Avantor, Inc., Pall Corporation, AstraZeneca, ImmunAbs, IMBiologics, Novacell Technology Inc.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 112.88 billion |
| Market Value in 2033 | USD 268.84 billion |
| Growth Rate | CAGR of 7.5% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023-2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Drug Class, Route of Administration, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Indonesia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Bristol Myers Squibb; Regeneron Pharmaceuticals; MacroGenics; Boehringer Ingelheim; Mereo BioPharma; Huabo Biopharm; Sigma-Aldrich; Avantor, Inc.; Pall Corporation; AstraZeneca; ImmunAbs; IMBiologics; Novacell Technology Inc. |
| Customization | Available Upon Request |
The y-o-y demand for next generation immunotherapies to surge at 7.5% CAGR through 2033.
The total sales achieved by the market could be USD 268.84 billion by 2033.
Next generation immunotherapies demand during 2018 to 2022 witnessed 6.9% y-o-y growth rate.
India, China, and Japan are driving the Asia Pacific Market.
The use of monoclonal antibodies dominated the market by acquiring 71% of the demand in 2021.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 5.1. Monoclonal Antibodies 5.2. Antibody-drug Conjugates - ADC's 5.3. Ace Inhibitors 5.4. Immune Checkpoint Inhibitors 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Route of Administration 6.1. Intravenous 6.2. Parenteral 6.3. Intratumoral 6.4. Subcutaneous 6.5. Oral 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hospital Pharmacies 7.2. Clinical Pharmacies 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East & Africa (MEA) 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Bristol Myers Squibb 16.2. Regeneron Pharmaceuticals 16.3. MacroGenics 16.4. Boehringer Ingelheim 16.5. Mereo BioPharma 16.6. Huabo Biopharm 16.7. Sigma-Aldrich 16.8. Avantor, Inc. 16.9. Pall Corporation 16.10. AstraZeneca 16.11. ImmunAbs 16.12. IMBiologics 16.13. Novacell Technology Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
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Next Generation Immunotherapies Market
