Market Overview

The Immunotherapy Drugs Market studied is anticipated to grow with a CAGR of 13%, during the forecast period (2019-2024). The major factors attributing to the growth of the Immunotherapy drugs market are such as the rising adoption of targeted therapy over traditional therapy, emergence of biosimilars, rising prevalence of chronic diseases and lifestyle disorders and also rising demand for monoclonal antibodies.

For instance, over the last decade, there has been a continuous rise in the prevalence of several chronic diseases, which, in several cases, need immune-based therapies. Some of the major chronic diseases include cancer, kidney failure, and heart diseases, among others. Several lifestyle disorders, both chronic and non-communicable diseases, such as hypertension, diabetes, obesity, and depression, among others, need critical care during hospitalization. Chronic diseases in critically ill patients are often characterized by long hospital stays, intense suffering, and prolonged dependence, with substantial consumption of resources. Mostly, the conditions become very complex, exhibiting combined disorders related to neurological, endocrine, metabolic, immunologic, and muscle disorders, where biological therapy plays an essential role. Thus, the rise in the number of diseases and associated disorders are among the major primary reasons for the growth of this immunotherapy drugs market.

Scope of the Report

Immunotherapy relates to a type of biologic therapy for cancer treatment, to boost the body’s natural defenses to fight cancer. It may work in stopping or slowing the growth of cancer cells, stopping the cancer from spreading in other parts of the body, and in the improvement of immune system. These therapies are made by body or in a laboratory, to improve or restore the immune system function.

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Key Market Trends

Cancer is Expected to Hold the Major Share in the Therapy Area Segment of Immunotherpay Market

As per a 2014 publication in the Cancer Research journal, by 2030, an estimated 2.1 million people in the United States are expected to be diagnosed with cancer, each year and similarly, the prevalence of cancer is more or less same across the globe too. And this cancer prevalence is expected to be same in the coming years, which is helping the market growth. As per the present clinicalTrials.gov status, nearly 1,400 clinical trials are being listed, out of which, more than 800 are being conducted in the United States, nearly 400 in European countries, and other prominent countries, such as China, Australia, and Canada. 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, in order to raise awareness regarding several kinds of cancer.

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