Immuno-oncology Drugs Market, by Treatment Type (Immune Checkpoint Inhibitors (PD-1, PD-L1, CTLA-4), Immune System Modulators, Cancer Vaccines, Oncolytic Virus, Others), by Disease Type (Melanoma, Lung Cancer, Blood Cancer, Renal Cell Carcinoma, Prostate Cancer, Bladder Cancer, Others (Breast Cancer, Thyroid Cancer, etc.)), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Immuno-oncology is the study and development of treatments that take advantage of the body’s immune system to fight cancer. As immune system is a complex network of organs, cells and molecules that protect the body from foreign substances that cause infection. In addition to finding and destroying foreign substances, the immune system can also locate and attack abnormal cells. Immuno-oncology uses novel immunotherapies that boost the immune system of patients. These therapies target the immune system of the body instead of the tumors and enable the immune system to recognize and target cancer cells. Immuno-oncology does not affect the functioning of healthy cells as opposed to conventional therapies such as chemotherapy and radiation therapy. Long term response can be generated with the help of these therapies as they provide long-lasting memory to the immune system. Immune system adapts to the cancer over time and provides long term response to the cancer. Immuno-Oncology therapy work against a wide variety of cancer, which include non-small cell lung cancer, acute myeloid leukemia, lymphoma, multiple myeloma, breast cancer, and others.
Market Dynamics
Increasing number of inorganic strategies such as product approval by the key market players is expected to drive the global immuno-oncology drugs market over the forecast period. For instance, in December 2020, Blueprint Medicines Corporation, a biotech company, announced that they had received an approval from the U.S. Food and Drugs Administration for GAVRETO (pralsetinib) for the treatment of patients with advanced or metastatic RET-mutant and RET fusion-positive thyroid cancer. GAVRETO is a once-daily oral precision therapy designed to potently and selectively target RET alterations that drive multiple tumor types.
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