Immunotherapy Drugs Market: By Drugs (Vaccines (Preventive Vaccines, Therapeutic Vaccines), Monoclonal Antibodies, Interferons Alpha & Beta, Checkpoint Inhibitors, Interleukins, and Others), By Therapy Area (Autoimmune & Inflammatory Diseases, Cancer, Infectious Diseases, and Others), By End User (Hospitals/Clinics, Cancer Research Centre, and Others), and Geography

   

Immunotherapy Drugs Market size was valued at USD 159.13 Billion in 2021 and is projected to reach USD 355.34 Billion by 2028, growing at a CAGR of 10.4% from 2022 to 2028 due to surge in the prevalence of chronic diseases. According to International Agency for Research on Cancer (IACR) in 2018, 18.1 Mn people are estimated to be suffering from cancer worldwide, which is expected to reach 29.5 Mn by 2040. Moreover, rising demand and development of monoclonal antibodies (mAbs) and emergence of biosimilars are the major factors that are driving the growth of the immunotherapy drugs market. Additionally, favorable reimbursement policies and support by the government fuels the growth of the market. However, High cost of treatment for chronic diseases hinders the growth of the market over forecast period. Global immunotherapy drugs market is surging owing to strategic collaborations and definitive agreements between the market players to develop and commercialize product in the market. Key Developments: In March 2018, Inovio collaborated with ApolloBio Corp, and provided exclusive right to develop, manufacture and commercialize VGX-3100, a DNA immunotherapy, in greater China. In March 2018, Novartis collaborated with Wyss Institute for Biologically Inspired Engineering at Harvard University and the Dana-Farber Cancer Institute for developing next generation biomaterials systems to deliver immune-oncology therapies.