The global next generation immunotherapies market is set for substantial growth over the coming decade, with recent industry reports projecting a valuation of USD 112.88 billion in 2023. Driven by the increasing demand for innovative cancer treatments, the market is forecast to grow at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2033, reaching unprecedented heights by the end of the forecast period.
Next generation immunotherapies, particularly those involving checkpoint inhibitors, are revolutionizing the way cancer is treated by enhancing the body’s adaptive immune response, particularly cytotoxic T cells, to target and destroy cancer cells. The growing reliance on these therapies for managing various types of cancer is expected to be a key factor driving market expansion.
Key Market Drivers:
- Innovations in Cancer Immunotherapy: A growing number of therapies designed to boost the body’s immune system to more effectively fight cancer, such as checkpoint inhibitors and CAR-T cell therapies, are significantly contributing to the growth of the next generation immunotherapies market.
- Improved Outcomes for Cancer Patients: Next generation immunotherapies offer the potential for more effective treatments with fewer side effects compared to traditional cancer therapies, leading to increased adoption in healthcare systems worldwide.
- Growing Focus on Adaptive Immune System Enhancement: Immunotherapies that enhance the adaptive immune system’s ability to recognize and target cancer cells are at the forefront of innovation. Cytotoxic T cells, which play a central role in the immune response against tumors, are the primary focus of many emerging treatments.
Regional Insights: North America is anticipated to dominate the next generation immunotherapies market, driven by significant investments in research and development, the presence of major biopharmaceutical companies, and strong demand for cutting-edge cancer treatments. Europe is also expected to contribute significantly, while the Asia-Pacific region is emerging as a key market due to increasing healthcare spending and improving access to advanced cancer therapies.
Future Outlook: As the global healthcare community continues to prioritize advancements in cancer treatment, the next generation immunotherapies market is expected to see continued innovation and growth. The market’s expansion will be shaped by ongoing research and development efforts, greater collaboration among industry stakeholders, and a growing focus on personalized medicine.
On the other hand, North America is expected to lead the overall industry in terms of sales in 2021, owing to the existence of a huge number of prominent companies, in addition to numerous Strategic events organized by them. Furthermore, the rise in the incidence of disease, the existence of multiple government and non-government corporations that support cancer immunotherapy experiments, and the escalating authorization of novel drugs are bolstering the regional market growth. Asia Pacific is expected to expand at the highest rate during the forthcoming years. Several of the main factors leading growth are an upsurge in the aging population, a huge patient platform of an aimed disease, and improved medical facilities. The 7th Annual Immuno-Oncology Summit Europe, coordinated by CHI, reverts to London’s Canary Wharf for three days of research and technology consultations on the latest breakthroughs in the creation of favorable immuno-oncology treatments. The Summit, scheduled for June 20-22, 2023, will feature four meeting programs ranging from techniques for Modulating the Tumor Microenvironment to numerous therapeutic approaches such as Next-Generation Cell-Based Immunotherapies, Bispecific/Multi-Specific Antibody Therapies, and Gamma Delta Immunotherapy.
Among the drug class segments, monoclonal antibodies had the highest market share in 2021. The elevated prescription percentage of monoclonal antibodies, as well as the focused impact of monoclonal antibodies, are credited to the segment’s expansion. Owing to the increasing incidence of disease in conjunction with high treatment rates, growing awareness and enhanced diagnostic test of malignancies, and an elevated volume of hospitals that provides immunotherapies intervention, the hospital Pharmacies segment was the largest distribution channel segment in 2021. In addition, numerous patients, particularly seniors and those with serious respiratory infections, are placed on ventilation systems for intensive care. In certain cases, intravenous solutions are continuously administered to such patients in order to ensure proper nutrition. As a consequence, among the route of administration segments, the intravenous segment is anticipated to hold the highest proportion.
Market Competition
Key players in the next generation immunotherapies market are Bristol Myers Squibb, Regeneron Pharmaceuticals, MacroGenics, Boehringer Ingelheim, Mereo BioPharma, Huabo Biopharm, Sigma-Baldric, Avantor, Inc., Pall Corporation, AstraZeneca, ImmunAbs, IMBiologics, Novacell Technology Inc.
- Boehringer Ingelheim and 3T Biosciences declared a strategic partnership and licensing contract in January 2023 to research and advance next-generation cancer therapies to address high unfulfilled requirements.
- MacroGenics accomplished the Phase 2/3 research design for MGC018 in patients with metastatic castration-resistant prostate cancer(mCRPC) after a productive FDA conference in March 2022.
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 Next Generation Immunotherapies Market 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
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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