Set to grow at a stellar pace over the next few years, the global immunotherapy drugs market is on an upward growth trajectory. Factors such as preference of targeted therapy over traditional therapy and increase in incidence of poor lifestyle related disorders are helping the market grow. Additionally, emergence of biosimilars is also contributing remarkably to the projected growth of the market. It is also worth mentioning here an increase in incidence of chronic illness and rise in demand of monoclonal bodies, factors that are significant in driving the global immunotherapy drugs market.
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In the United States of America,, which is considered robust in terms of healthcare, the number of people suffering from chronic illnesses is quite grim – six in every ten people in the region are suffering from one chronic illness, two in ten are suffering from more than one.
Some of the top chronic illnesses, the treatment for which is heavily reliant on immunotherapy drugs, are cancer, heart diseases and kidney failure. Lifestyle diseases that are pushing the global immunotherapy drugs market on to a higher and steeper curve include diabetes, depression, hypertension, and obesity. These often need hospitalization for critical care (when aggravated). It is worth noting here that these diseases are witnessing a massive increase in incidence.
Region-wise, North America would be a dominant player in the global immunotherapy. This is attributable to presence of prominent players, extensive research and development activity, and a rapidly ageing population. One in four people in the region will be aged 65 and above by the year of 2050. It is noteworthy though not surprising that the United States is set to contribute immensely to the growth of the market.
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In the consolidated and moderately competitive vendor landscape of global immunotherapy drugs market, the prominent players include AbbVie Inc., Amgen Inc., AstraZeneca, GlaxoSmithKline PLC, and F. Hoffmann-La Roche AG, among others.