Market Size of Next-Generation Immunology Drugs Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Next-Generation Immunology Drugs Market Analysis
The Next-Generation Immunology Drugs Market is expected to register a CAGR of 6.1% over the forecast period.
The COVID-19 pandemic had a significant impact on the market studied. During the pandemic, immunology research was increased to understand the effects of COVID-19 on immunity and cope with the severe effects of the same. For instance, the University of Oxford Immunology Network conducted research on COVID-19 in early 2021 that was focused on humoral immunity, deep phenotyping, the inflammatory response, and cell immunity. Additionally, research in the area of immunology drugs for COVID-19 increased during the pandemic. For instance, JAK and BTK inhibitors were immunomodulatory drugs that were evaluated to treat COVID-19. GM-CSF Inhibitors. The rising research on immunology drugs to combat the COVID-19 disease fueled the market's growth. However, currently, the market has reached its pre-pandemic nature and is expected to witness significant growth over the forecast period.
Some of the key factors propelling market growth include the rising burden of chronic diseases, increasing research in the area of next-generation drugs, and an increased focus on targeted therapies for certain diseases.
The market for next-generation immunology drugs is expected to witness a healthy growth due to the rising prevalence of chronic diseases like asthma, allergic conditions, cancer, and multiple sclerosis. For instance, a January 2023 report from the American Cancer Society indicated that by the year 2040, there will be more than 16.3 million cancer-related deaths and over 27.5 million new cases worldwide due to population growth and aging. The burden will probably increase in the future because risk factors including smoking, eating poorly, and not exercising are becoming more prevalent in economically developing countries. With growing chronic diseases, pharmaceutical companies are focusing more on R&D and developing novel drugs, which is contributing to market growth.
Furthermore, the key activities undertaken by the various companies are supporting market growth. For instance, in November 2022, Human Immunology Biosciences announced that it had raised USD 120 million to develop targeted treatments for autoimmune and allergic diseases. The company developed two drug candidates, called felzartamab and HIB210, that were licensed from the German biotechnology company MorphoSys. Both are in clinical trials, with the former in Phase 2 testing for two rare kidney diseases and the latter in Phase 1. Hence, owing to the increasing focus of companies on developing such novel drugs, it is believed that the market studied is likely to witness strong growth. However, the high cost of next-generation drugs and stringent regulatory policies are some of the factors that are expected to restrain market growth.
