Market Dynamics
Unhealthy habits, smoking and alcoholism are responsible for raising the incidence of cancer. Increasing population with cancer is the main reason for the global market growth for immunotherapy drugs. Some treatments are available on the market, but the benefit of immunotherapy is its high effectiveness and reduced side effects compared to other treatments. Such treatment is effective for patients with melanoma cancer when chemotherapy and other radiation therapy do not work.
The respective figures of deaths due to lung cancer, liver cancer, colorectal cancer, stomach cancer, and breast cancer were found to be 16,90,000, 788,000, 774,000, 754,000, and 571,000 respectively in 2015. The most common cancers are liver cancer, lung cancer, stomach cancer, colorectal cancer, and breast cancer, which have been confirmed to cause 1,69 million, 788,000, 774 thousand, 754 thousand, and 571 thousand deaths in 2015.
As per the CDC, more than 1.5 million people in the U.S. are diagnosed with cancer every year, and more than 5 lakh people are unable to survive. Statistics suggest that 50% of the overall deaths may be avoided by making a healthier option. Smoking is the leading cause of lung cancer, which accounts for 90% of all deaths in men and 80% in women.
Market Segmentation
The global market for immunotherapy drugs market has been segmented based on therapy area, type of drugs, and end-user.
On the basis therapy area, the global market for immunotherapy drugs market has been segmented into cancer, infectious diseases, autoimmune & inflammatory diseases, and others.
Based on the type of drugs, the global market for immunotherapy drugs market has been segmented into Monoclonal Antibodies, Interferons Alpha & Beta, Adult Vaccines, Checkpoint Inhibitors, Interleukins, and Others.
Based on end-user, the global market for immunotherapy drugs market has been segmented into hospitals & clinics, ambulatory surgical centers, and others.
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Regional Analysis
The global market for immunotherapy drugs market has been segmented into four main geographical regions: the Americas, Europe, Asia Pacific, and the Middle East and Africa.
In the last few years, the Americas and Europe have been the main contributors to the global immunotherapy drug market because of their reputation as a suitable place for research and development. The market for immunotherapy drugs has a tremendous demand in both regions and is expected to expand in the future.
The Asia Pacific is the fastest-growing market for immunotherapy drugs due to the emergence of rapidly evolving healthcare technologies, a massive patient population, and rising healthcare costs. However, the rising demand for new treatment methods in countries like India and South Korea is expected to emerge as the fastest-growing market globally.
The Middle East and Africa has the least growth compared to other regions. However, the rising incidence of smoking-related cancer, lifestyle changes, and excessive alcohol consumption are driving the market for immunotherapy drugs in this region.
Key Players
Some of the key participants identified by MRFR in this market are Hoffmann-La Roche AG, GlaxoSmithKline, Bristol-Myers Squibb, AbbVie, Inc., Amgen, Inc., Merck & Co., Inc., Novartis International AG, Eli Lilly and Company, Johnson & Johnson, AstraZeneca plc
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