The global next-generation immunotherapies market is poised for substantial growth, with an anticipated market valuation of USD 112.88 billion in 2023. The market is projected to expand at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2033, reaching an estimated market value of USD 268.84 billion by the end of the forecast period. This growth is fueled by the continued evolution of immunotherapy treatments and their expanding applications in the fight against diseases like cancer and infectious conditions.
Immunotherapy’s Role in Advancing Cancer Treatment:
Immunotherapies have become a cornerstone in cancer treatment, with current therapies like checkpoint inhibitors enhancing the immune system’s adaptive response, particularly cytotoxic T cells, to combat cancer cells. These advancements are driving the market’s upward trajectory, offering new hope for cancer patients globally.
Impact of COVID-19 on Immunotherapy Demand:
The onset of the COVID-19 pandemic in late 2019 significantly accelerated the demand for next-generation immunotherapies. The urgent global efforts to develop vaccines and treatments for SARS-CoV-2 led to a surge in research and development activities. As a result, several vaccines have been authorized for emergency use, driving further interest in immunotherapies and boosting the market’s growth.
Regional Insights: North America and Asia-Pacific Leading the Way
North America is expected to dominate the next-generation immunotherapies market, driven by the presence of major pharmaceutical companies, a robust research infrastructure, and increasing investments in cancer immunotherapy studies. Government and non-government organizations in the region continue to support cancer research, contributing to the market’s expansion.
Meanwhile, the Asia-Pacific region is set to witness the highest growth during the forecast period. This is attributed to factors such as the aging population, the rising incidence of diseases requiring targeted therapies, and improvements in healthcare infrastructure. With an increasing patient base and greater access to medical technologies, Asia-Pacific is emerging as a key growth driver in the global immunotherapies market.
The next-generation immunotherapies market is on a clear upward trajectory, driven by the ongoing advancements in cancer treatment, the global response to infectious diseases like COVID-19, and a favorable regulatory environment. With substantial growth expected in both North America and Asia-Pacific, the future of immunotherapies looks promising, offering transformative solutions for patients and healthcare systems worldwide.
Key Takeaways from the Market Study:
- From 2018 to 2022, sales increased significantly at a CAGR of 6.9%.
- Monoclonal antibodies ruled the drug class, accumulating 71% market share in 2021
- The hospital pharmacy segment led the industry in 2021, with a profitability of 56.71%.
- The global next generation immunotherapies market is expected to be worth USD 112.88 billion by 2023.
- The global market for Next Generation Immunotherapies is expected to be worth USD 268.84 billion by 2033.
“The involvement of various administrations and non-governmental organizations that raise awareness and encourage research is assisting in the market’s expansion. Furthermore, increasing funding for the advancement of novel therapeutics is expected to boost R&D initiatives in order to develop the business for Next Generation Immunotherapies.” says FMI’s analyst
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Key Market Players:
Key players in the next generation immunotherapies market are Bristol Myers Squibb, Regeneron Pharmaceuticals, MacroGenics, Boehringer Ingelheim, Mereo BioPharma, Huabo Biopharm, Sigma-Baldric, Avantor, Inc., Pall Corporation, AstraZeneca, ImmunAbs, IMBiologics, Novacell Technology Inc.
- In January 2023, Boehringer Ingelheim and 3T Biosciences announced a joint strategic alliance and licensing contract to analyse and advance next-generation cancer therapies to address high unmet needs.
- Following a fruitful FDA conference in March 2022, MacroGenics finished the Phase 2/3 qualitative research for MGC018 in patients with metastatic castration-resistant prostate cancer (mCRPC).
Key Segments Profiled in the Next Generation Immunotherapies Market Industry Survey:
By Drug Class:
- Monoclonal Antibodies
- Antibody-drug Conjugates – ADC’s
- Ace Inhibitors
- Immune Checkpoint Inhibitors
By Route of Administration:
- Intravenous
- Parenteral
- Intratumoral
- Subcutaneous
- Oral
By Distribution Channel:
- Hospital Pharmacies
- Clinical Pharmacies
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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