Immunotherapy refers to the specific type of cancer treatment that involves the usage of substances made by the body or in a laboratory to strengthen the immune system and provide support to the body in detecting and destroying cancer cells.
The immunotherapy drugs industry is projected to rise in the coming years, led by the growing prevalence of chronic diseases, and massive demand and development of monoclonal antibodies.
The two prevalent immunotherapy drugs are checkpoint inhibitors and vaccines. Among these, checkpoint inhibitors capture a substantial share of the immunotherapy drugs industry. Checkpoint inhibitors are the priority for chronic disease treatment. It is led by the enhanced treatment provided by them and their effectiveness.
Under the therapy area segment, the immunotherapy drugs are categorized into autoimmune, cancer, inflammatory, and infectious diseases. Among these, inflammatory and autoimmune diseases are predicted to reflect significant growth in the coming years.
The primary end user of the immunotherapy drugs industry is hospitals and clinics, accounting for 80.8% contribution. The wide adoption of immunotherapy drugs in hospitals and clinics is led by the rising footfall of patients, growing prevalence of chronic diseases, and surging healthcare expenditure, resulting in capturing the massive industry share.
Keytruda is a drug used for immunotherapy in the treatment of various conditions such as non-small cell lung cancer, melanoma treatment, urothelial carcinoma, cervical cancer, gastric cancer, and neck squamous cell cancer. The cost of the drug is around $84,000. The NHS England and Merck & Co. Inc. came into an agreement to reimburse the drug cost, and facilitate it for regular use, according to NICE recommendations.
North America captures an extensive share of the industry, accounting for 50%. It is led by the surging per capita healthcare expenditure, rising geriatric population, growing prevalence of chronic diseases, and increasing penetration of the industry players in the region.
The major companies operating in the industry are AbbVie Inc., Johnson & Johnson, Eli Lilly and Company, Medigene AG, C.H. Boehringer Sohn AG & Co., Celgene Corporation, and Takeda Pharmaceutical Company Limited.
Therefore, the growing prevalence of cancer and rising incidences of chronic diseases boost the industry's growth.
