The ballooning incidence of
chronic diseases is turning out to be a healthcare burden that is affecting
both low- and middle-income countries (LMIC) and high-income nations. According
to the World Health Organization (WHO), these diseases were responsible for the
deaths of as many as 9.6 million people in 2018. In addition to this, the
organization found that the LMIC witness nearly 70% of the total deaths caused
due to cancer.
Many drugs produced by the immunotherapy industry players for the management and treatment of various chronic diseases are currently undergoing clinical trials. This is a major reason why the rising usage of immunotherapy drugs for combating the growing incidence of chronic diseases is a crucial factor fueling the sales of these medicines. Additionally, the rising requirement for monoclonal antibodies (mAbs), the increasing adoption of target therapies, and the growing popularity of biosimilars are propelling the global sales of immunotherapy drugs.
Geographically, the sales of immunotherapy drugs were the highest in North America in the past years. This was because of the high per capita healthcare expenditure, the presence of a large geriatric population and several industry players, and the high incidence of chronic diseases in the region. Furthermore, the large-scale development of several research laboratories also contributed toward the high sales of these drugs in the region in the past.
Moreover, the huge
investments, both indirect and direct, in research and development (R&D)
projects by biotechnology and pharmaceutical companies fueled the sales of
these drugs in the region. The immunotherapy
drugs market is predicted to exhibit the fastest growth in the
Asia-Pacific (APAC) region in the forthcoming years. This would be because of
the surging healthcare expenditure in the improvement of healthcare facilities
and infrastructure and the soaring research and development (R&D)
activities being performed in the regional countries.
