The global immunotherapy drugs market is set to chart an upward curve over the coming years, owing to a robust CAGR (Compound Annual Growth Rate) predicted. It will create numerous opportunities of growth for market players to take serious note. Besides, the value of the market worth is set to increase over the coming period.
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This will be driven by a number of factors such as increase in incidence of cancer and other chronic diseases. It is worth noting here that every year, out of 100,000 people (both men and women, 439.2new cases emerge. To understand the magnitude of chronic diseases, a peep into the United States gives gruesome figures. Here, out of every 10 adults, 6 suffer from a chronic disease. And out of every 10, 4 report having more than one chronic diseases. It is worth noting here that the trend will continue in the times to comes, even elsewhere on the globe.
It is also important to note here that rise in infections is also leading to growth in the global immunotherapy drugs market. And, a growing geriatric population is paving the way for further growth, as this demographic is particularly susceptible to such diseases. As per a recent study, one in six people worldwide will fall into the age bracket of geriatrics – 65 and above. Already in 2018, the number of geriatrics surpassed the number of people in the age bracket five and below. Besides, the number of geriatrics will be more pronounced in North America and Europe. The ration of geriatrics to the rest in these regions will be one in four.
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The global immunotherapy drugs market is consolidated and prominent players in the market landscape include F. Hoffmann-La Roche AG, GlaxoSmithKline plc., AbbVie, Inc., Amgen, Inc., Merck & Co., Inc., Alligator Bioscience, UbiVac, Bristol-Myers Squibb, Novartis International AG, and AstraZeneca plc.