Immunotherapy drugs: Key market research findings
- Growing significance and adoption of biosimilars
- Increase in demand for mAbs
Technavio has released a new market research report on the global immunotherapy drugs market, which is expected to grow at a CAGR of around 12% between 2016 and 2020. The rising prevalence of cancer and autoimmune diseases has led to increased consumption of immunotherapy drugs. These drugs have fewer adverse effects, and also reduce the chances of disease recurrence. The Americas dominate the immunotherapy drugs market, occupying around 50-% of the total market share. The major reasoning for this region’s growth is due to the higher incidences of cancer, infectious diseases, and autoimmune diseases in the US.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the latest trends gaining significance in this market is the emergence of biosimilars. Unlike generic drugs, which have active pharmaceutical ingredients similar to original drugs, biosimilars are almost identical to their originator biologic compounds. Since biosimilars help to make treatments more accessible to patients and are less expensive than biologics, their sale among the end users is anticipated to increase significantly over the next few years,” says Barath Palada, Lead Analyst, Pharma, Technavio Research
The mAb accounts for 61% of the total market share, owing to the development of new drugs and the entry of new molecules like zanolimumab, elotuzumab, obinutuzumab, and onartuzumab. mAbs have a high affinity for specific disease cells and areas that need treatment. The use of mAbs is growing, including therapies such as radioimmunotherapy and antibody-directed enzyme prodrug therapy. The rising use of these antibodies in drug development increases the revenue generation in the market, contributing to the market growth.
The leading vendors in the global immunotherapy drugs market include AbbVie, Amgen, Bristol-Myers Squibb, F.Hoffmann-La Roche, Johnson & Johnson, and Merck. This market is highly competitive due to the presence of a number of large and small vendors. Many of these vendors have a huge global presence and enter into strategic alliances to aid in the manufacture and marketing of essential drugs. Safety and effectiveness of drugs are key factors, which will give vendors an edge in the marketplace.
A more detailed analysis is available in the Technavio report, Global Immunotherapy Drugs Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Cancer Immunotherapies Market 2016-2020
- Global Oncology Biosimilars Market 2016-2020
- Global Cancer Monoclonal Antibodies Market 2016-2020
Further readings:
Amidst Setbacks, Hundreds of New Immunotherapy Treatments Poised to Enter Market
