Immunotherapy Drugs Market Overview
The global immunotherapy drugs market valued $106.1 billion revenue in 2017 and is projected to register a CAGR of 13.6% during the period 2018–2023. Surge in the prevalence of chronic diseases, and thriving demand and development of monoclonal antibodies (mAbs) are the key factors driving the market growth.
GLOBAL IMMUNOTHERAPY DRUGS MARKET, BY TYPE, $B (2013-2023)
Checkpoint inhibitors and vaccines are the two major types of immunotherapy drugs analyzed in the report. Of these, checkpoint inhibitors held a larger share in the immunotherapy drugs market, accounting for 66.3% in 2017. Checkpoint inhibitors are the first preference for the treatment of chronic diseases, as they provide better and effective treatment results. These drugs act directly on site of action, without delaying the effect of medicine, and are thus being highly adopted for the treatment of several diseases. Some of the major checkpoint inhibitors brand available in the market are Humira, Rituxan/MabThera, Herceptin, Remicade, and Enbrel.
Based on therapy area, the immunotherapy drugs market has been categorized into cancer, autoimmune and inflammatory diseases, and infectious diseases. Of these, autoimmune and inflammatory diseases is expected to be the fastest growing category, at a CAGR of 14.8% during the forecast period.
Hospitals and clinics were the key end users in the immunotherapy drugs market, with 80.8% contribution in 2017. The adoption of immunotherapy drugs has been increasing in hospitals and clinics, owing to growing patient population, increasing healthcare expenditure, and rising prevalence of chronic diseases, leading to dominate the end-user segment.
North America was the largest immunotherapy drugs market during the historical period, with more than 50.0% contribution in 2017. This can be attributed to the increasing per capita healthcare spending, surging geriatric population, rising prevalence of chronic diseases, and growing presence of market players in the region. Furthermore, factors such as growing research collaborations, increasing number of research laboratories, and growing direct and indirect investments in research and development (R&D) by pharmaceutical and biotechnology companies will also support the growth of the regional market in the coming years.
Immunotherapy Drugs Market Dynamics
Globally, the rising prevalence of chronic diseases is a major healthcare burden that effects high income nations as well as low and middle-income countries (LMIC). The impact of these diseases can be ascertained from the fact that cancer is estimated to lead to 9.6 million deaths in 2018, as reported by the World Health Organisation (WHO). The organisation further stated that around 70% of deaths from cancer occur in LMIC.
Several drugs manufactured by market players for the treatment of chronic diseases are under clinical trials. Thus, increasing use of immunotherapy drugs to combat the rising prevalence of chronic diseases is an important factor driving the market demand. Moreover, thriving demand and development of mAbs, rise in the implementation of target therapy, and increasing availability of biosimilars are also contributing to the growth of the immunotherapy drugs market.
Epidemiology and Reimbursement Scenario Analysis
The report provides epidemiology analysis for cancer, autoimmune and inflammatory diseases, and infectious diseases. According to the International Agency for Research on Cancer (IARC) in 2018, 18.1 million people are estimated to be suffering from cancer globally, which is expected to reach 29.5 million by 2040. Another study conducted by the American Medical Association (AMA) between 2005–2015, reported that the incident of cancer cases increased by 33% during this period, of which 16.4% of the cases were due to aging population.
The report also covers pricing and reimbursement scenario for immunotherapy drugs on the universal level and for major countries such as the U.S., Belgium, the U.K., France, Italy, Spain, Japan, China, and Australia. For instance, a reimbursement scenario in the U.K. has impacted the cost of the drugs. Keytruda is an immunotherapy drug used for the treatment of melanoma, non-small cell lung cancer (NSCLC), head and neck squamous cell cancer (HNSCC), urothelial carcinoma, gastric cancer, and cervical cancer. Keytruda generally costs up to $84,000 to the patients. To reduce the cost of this drug, the National Health Service (NHS) England; a publicly funded national healthcare system, and Merck & Co. Inc. entered into an agreement in June 2018, to reimburse the cost of this drug and provide it for routine use as per the National Institute for Health and Care Excellence (NICE) recommendations. NICE recommends NHS to provide reimbursements for this drug and make it affordable for the patients.
Immunotherapy Drugs Market – Competitive Landscape
The market players in the immunotherapy drugs market are actively seeking collaborations and partnerships for the development of novel immunotherapy drugs. For instance, in April 2018, Bristol-Myers Squibb Company (BMS) and Illumina Inc. collaborated to utilize Illumina’s next-generation sequencing (NGS) technology to develop and globally commercialize in-vitro diagnostic (IVD) assays in support of BMS oncology portfolio. The collaboration helped to develop a diagnostic version of Illumina’s TruSight Oncology 500 assay, including tumor mutation burden (TMB), and microsatellite instability for immunotherapies.
Similarly, in April 2018, Pfizer Inc. and Allogene Therapeutics Inc. entered into an asset contribution agreement to use Pfizer’s portfolio related to allogeneic CAR-T therapy, an investigational immune cell therapy, for cancer. This agreement acted as an attractive opportunity for Pfizer Inc. to continue the development of CAR-T therapy.
Some of the other leading players operating in the global immunotherapy drugs market are F. Hoffmann-La Roche Ltd., AbbVie Inc., AstraZeneca PLC, Merck & Co. Inc., GlaxoSmithKline plc, Novartis International AG, Johnson & Johnson, Amgen Inc., Eli Lilly and Company, Sanofi, Medigene AG, C. H. Boehringer Sohn AG & Co. KG, Takeda Pharmaceutical Company Limited, and Celgene Corporation.