Market Size of Immune Checkpoint Inhibitors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 18.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Immune Checkpoint Inhibitors Market Analysis
The immune checkpoint inhibitors market is anticipated to register a CAGR of 18% during the forecast period.
The sudden outbreak of the pandemic had a significant effect on cancer research, which affected the immune checkpoint inhibitors market. For instance, the Lancet article published in December 2021 mentioned that cancer research had been inconsistent, mostly taking place in high-income settings and some middle-income settings such as China and India. Furthermore, the work has largely been undertaken without substantial financial support from major cancer research funders. Thus, the above-mentioned factors are expected to have a significant impact on the growth of the market.
The primary factor attributed to the growth of the market is a steep rise in the global prevalence of various types of cancers, coupled with a steep increase in the geriatric population around the world. The IARC Report published in 2020 estimated the incidence and mortality of 36 cancer in 185 countries. It reported that there were an estimated 19,292,789 new cancer cases diagnosed in 2020, and about 9,958,133 people died due to cancer all over the world. Of the total diagnosed cancer cases, 10,065,305 cases were reported in males, and 9,227,484 cases were reported in females. The incidence of cancer cases in males is expected to reach 15,585,096 by 2040. The number is anticipated to reach 13,302,846 in females by 2040. Such an increasing incidence of cancer among the global population is expected to drive the growth of the market. Thus, the rise in the patient pool, increased awareness among the people, and earlier detection of cancer using technologically advanced screening procedures are likely to boost the immune checkpoint inhibitors market's growth during the forecast period.
However, a higher risk of complications associated with expensive oncology treatment is expected to restrain the growth of the market over the forecast period.
