Immunotherapy Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Immunotherapy Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The immunotherapy drugs market is expected to register a CAGR of 8.4% during the forecast period (2022-2027)

COVID-19 had a positive impact on the immunotherapy drugs market as the sudden outbreak of the pandemic increased the demand for immunotherapy drugs for the treatment of COVID-19 owing to their safety and efficacy. For instance, in January 2021 the article "Real-world effectiveness and tolerability of monoclonal antibody therapy for ambulatory patients with early COVID-19" reported that monoclonal antibody treatment of high-risk ambulatory patients with early COVID-19 was well tolerated and likely effective at preventing the need for subsequent emergency department or hospital care. Furthermore, the rise in immunotherapy product approvals by the regulatory authorities was also expected to boost the growth of the market. For instance, in November 2020, the United States Food and Drug Administration issued an emergency use authorization for monoclonal antibodies (Casirivimab and imdevimab) to be administered together for the treatment of mild to moderate COVID-19 in adults and pediatric patients with positive results of direct SARS-CoV-2. Thus, COVID-19 had a pronounced impact on the growth of the market.

The major factors attributing to the growth of the immunotherapy drugs market are the rising adoption of targeted therapy over traditional therapy, the emergence of biosimilars, the rising prevalence of chronic diseases and lifestyle disorders, and the rising demand for monoclonal antibodies.

Furthermore, factors such as growing research collaborations, increasing number of research laboratories, and growing direct and indirect investments in research and development (R&D) by pharmaceutical and biotechnology companies will also support the market's growth in the coming years. For instance, in January 2022, GlaxoSmithKline plc and Vir Biotechnology partnered with the United States government to purchase an additional supply of Sotrovimab for the early treatment of COVID-19. Such partnerships with government organizations for the supply of immunotherapy drugs are also expected to drive the growth of the market.

Globally, there has been a continuous rise in the prevalence of several chronic diseases, which, in several cases, need immune-based therapies. Major chronic diseases include cancer, kidney failure, autoimmune and inflammatory diseases, and heart diseases. For instance, the report published by Public Health of England in March 2020 mentioned that approximately 1 in 5 adults over 45 years had osteoarthritis of the knee and 1 in 9 adults had osteoarthritis of the hip. Thus, the incidence of chronic diseases is expected to drive the growth of the market.

Additionally, according to the GLOBOCAN 2020 data, globally, in 2020, the total number of new cancer cases was found to be 9,227,484, indicating that it had risen to 19.3 million cases and 10 million cancer deaths in 2020. Lung cancer and prostate cancer are the most common among men, accounting for nearly one-third of all male cancers. Such an incidence of cancers among the global population is expected to drive the growth of the market.

Overall, the rising R&D activities in developing novel immunotherapies for various chronic diseases are anticipated to drive the global immunotherapy drugs market’s growth. Thus due to the above-mentioned factors, the market is expected to grow during the forecast period.

However, the high cost of immunotherapy treatment and high attrition rate in the product development cycle may impede the growth of the market.

Key Market TrendsCancer is Expected to Hold Significant Market Share in the Therapy Area Segment Over the Forecast Period

Cancer is an abnormal growth of the cells in the body. There are more than 100 different types of cancer. According to the GLOBOCAN data, in 2020, there were around 2,261,419 (11.7%) new breast cancer cases, 2,206,771 (11.4%) new lung cancer cases and 1,931,590 (10%) new colorectum cancer cases. Breast cancer represents 1 in 4 cancers diagnosed among women globally. Colorectal, lung, cervical, and thyroid cancers are also common among women. This cancer incidence is expected to rise in the coming years, helping the market grow owing to the demand for effective treatments such as immunotherapy drugs.

There are several types of immunotherapies used for the treatment of cancer. Some immunotherapies include immune checkpoint inhibitors, T-cells cell transfer, cancer vaccines, and immune system modulators. These therapies are used for many types of cancer and their advanced stages. Some of the popular immunotherapy drugs include Rituxan, Yervoy, Adcetris, and Zevalin.​

The market players are launching new products for cancer treatment, which is expected to boost the market growth. For instance, in February 2021 Dr.Reddy's laboratories launched the cancer treatment drug Capecitabine tablets in the United States market.

The growth of immunotherapies in developed markets is high, due to increased R&D, with better government policies for supporting clinical trials through findings and campaigns to raise awareness regarding several kinds of cancer. For instance, in November 2021 Novartis pharmaceuticals completed phase 2 trials in breast cancer in the United States, United Kingdom, Argentina, Australia, Belgium, and other countries. Such trails can lead to the introduction of new products in the market and thus propels the growth of the market segment.

Thus, the factors mentioned above are expected to show significant growth over the forecast period.

North America Dominates the Market and it is Expected to do the Same Over the Forecast Period

North America is expected to have a significant market share throughout the forecast period. This is due to the increasing incidence of cancers, rising geriatric population, growing preference, and adoption rate of immunotherapy rates across the region.

People with cancer are at higher risk of infection with severe acute respiratory syndrome coronavirus 2 (SARS-2-CoV) virus that causes COVID-19. Thus, researchers are in the development of effective therapeutics for COVID-19. For instance, the clinical trials. gov published in 2020, that the Canadian Cancer Trials Group is conducting a phase III clinical trial to determine if immunization with IMM-101 will reduce the incidence of severe respiratory and COVID-19 infections in cancer patients. The trial started in June 2020 and is expected to be completed in December 2022.

According to the estimates of the Globocan, in 2020, there were around 2,556,862 new cancer cases diagnosed in the United States. The most common cancers in the United States are breast cancer, lung cancer, prostate cancer, colorectum cancer, bladder cancer, and skin cancer.​ Also, The data published by the American Cancer Society in 2022 mentioned that a total of 1.9 million new cancer cases are expected to occur in the United States in 2022.

In the North American region, the United States holds the largest market share. Factors such as increased awareness among people for the early detection of diseases, better reimbursement policies, healthcare expenditure with better infrastructure, increasing R&D activities, and rising new product launches are the primary factors propelling the immunotherapy market in the United States. For instance, in December 2020 MacroGenics, Inc, received the United States Food and Drug Administration (FDA) approval for MARGENZA, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer with pre-treatment.

In August 2020, GlaxoSmithKline plc received the United States Food and Drug Administration approval for BLENREP (belantamab mafodotin-blmf) as a monotherapy treatment for adult patients with relapsed or refractory multiple myeloma who have received at least four prior therapies including an anti-CD38 monoclonal antibody. Therefore, increasing research and development activities and product approvals along with the rising burden of chronic diseases is expected to drive market growth over the forecast period.

Thus, owing to the abovementioned factors, the North American region in the studied market is expected to show significant growth over the forecast period.

Competitive Landscape

The immunotherapy drugs market is moderately fragmented and consists of several major players. In terms of market share, few of the major players currently dominate the market. The market players are focusing on new product launches, R&D, and expansions to gain a competitive advantage. Some of the market's major players include AbbVie Inc., Amgen Inc., AstraZeneca, GlaxoSmithKline PLC, Novartis AG, and F. Hoffmann-La Roche AG.

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