The Global Next Generation Immunotherapies Industry is on track for a significant expansion, driven by a growing emphasis on personalized and effective cancer treatment options. According to a recent analysis by Future Market Insights (FMI), the market is expected to reach a staggering valuation of over US$268.84 billion by 2033. This remarkable growth trajectory is fueled by a projected Compound Annual Growth Rate (CAGR) of 7.5% from 2023 to 2033.
Immunotherapies, especially those focusing on enhancing the adaptive response of the immune system, particularly cytotoxic T cells, have been pivotal in the fight against cancer. This strategy is anticipated to be a driving force behind the expansive growth of the Next Generation Immunotherapies Market.
In the wake of the unprecedented global challenges posed by the emergence of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) in late 2019, the world witnessed a collective effort to develop treatments and vaccines against the virus. With several vaccines now authorized for emergency use, the demand for next-generation immunotherapies has witnessed an exponential surge in recent years.
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Besides this, the emergence in the incidence of disease, the existence of many government and non-government corporations that reinforce cancer immunotherapy studies, and the expanding authorization of new compounds are bolstering the regional market expansion. Asia-Pacific is predicted to expand at the highest rate during the projected timeframe. Several of the key factors for significant growth are an increment in the aging population, a growing patient platform of a focused disease, and improved medical facilities.
Key Takeaways from the Global Next Generation Immunotherapies Industry Study
- From 2018 to 2022, sales increased significantly at a CAGR of 6.9%.
- Monoclonal antibodies ruled the drug class, accumulating 71% market share in 2021
- The hospital pharmacy segment led the industry in 2021, with a profitability of 56.71%.
- The Global Next Generation Immunotherapies Industry is expected to be worth US$ 112.88 billion by 2023.
- The global market for Next Generation Immunotherapies is expected to be worth US$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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Global Next Generation Immunotherapies Industry Competition:
- 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).
Global Next Generation Immunotherapies Industry Key Companies Profiled:
- Bristol Myers Squibb
- Regeneron Pharmaceuticals
- MacroGenics
- Boehringer Ingelheim
- Mereo BioPharma
- Huabo Biopharm
- Sigma-Aldrich
- Avantor, Inc.
- Pall Corporation
- AstraZeneca
- ImmunAbs
- IMBiologics
- Novacell Technology Inc.
Key Segments Profiled in the Global Next Generation Immunotherapies 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
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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