Throughout the projection period, it is anticipated that the global incidence of chronic diseases, such as cancer, will fuel market expansion for immunotherapy medications. Immunotherapy medications aid in the prevention, control, and eradication of cancer (help fight cancer). For instance, the American Cancer Society estimates that 1.9 million new cases of cancer will be discovered in the country in 2022, and 609,360 people will pass away from the condition. Hence, when cancer rates rise, so does the demand for immunotherapy medications. During the course of the projected period, rising demand for immunotherapy medications is anticipated to fuel market expansion. Due to the rising incidence of chronic diseases and public knowledge of cancer treatment, there is a global increase in the demand for safe and efficient immunotherapy medications. The FDA approved the first medication in a brand-new class of cancer immunotherapies as an initial therapy for advanced melanoma, the most lethal type of skin cancer, according to Bristol Myers Squibb's March 2022 press release.
According to Coherent Market Insights, the market for Immunotherapy Drug pharmaceuticals was valued at US$ 188.9 billion in 2021 and is anticipated to grow at a CAGR of 11.5% between 2022 and 2028 to reach US$ 405.7 billion.
Leading Companies in the Immunotherapy Drug Industry:
1. F.Hoffmann-La Roche AG
The company was founded in 1896 and has its headquarters in Basel, Switzerland. The business focuses in medicines for oncology, virology, inflammation, metabolism, CNS, clinical chemistry, immunology, urinalysis, blood screening, genetics, infectious illnesses, and microbiology and offers in-vitro diagnostics and drugs for cancer and transplantation. Roche declared in March 2021 that it would buy GenMark Diagnostics for $1.8 billion. The company declared in September 2021 that it would expand its molecular diagnostics business by acquiring German biotech company TIB Molbiol.
2. Merck Group
The business was founded in 1668 and has its headquarters in Darmstadt, Germany. The business does medication research in cancer, neurological, autoimmune, and inflammatory illnesses. Additionally, it sells items for flat screens, the pharmaceutical, food, cosmetics, packaging, and coatings industries as well as products for cardiovascular, fertility, endocrinology, and over-the-counter use. Merck announced in February 2020 that it would be selling its Allergopharma division to Derma pharm for an undisclosed sum.
3. Bristol-Myers Squibb
It was established in 1887 and has its headquarters in New York, United States. The business produces prescription drugs and biologics for conditions such as cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis, and psychiatric disorders, among others. BMS stated in June 2022 that it will purchase Turning Point Therapeutics Inc for $4.1 billion in cash ($76 per share, a 122.5% premium to its most recent closing price), expanding its portfolio of cancer medications, including repotrectinib.
4. GlaxoSmithKline
The company was founded in 2000 and has its headquarters in London, England. GSK produces medications to treat diseases like diabetes, cancer, worms, and psychological health. In January 2022, the company reported getting three unsolicited offers to buy the Consumer Healthcare division of Unilever. GSK released optimistic Phase IIa research results in November 2022 for a novel, first-in-class prospective treatment for tuberculosis patients.
5. AstraZeneca
The company was established in 1999, and Cambridge, UK serves as its corporate headquarters. Treatments for severe disorders in the oncology, cardiac, digestive, infectious, neurological, respiratory, and inflammatory domains are among its product offerings. In October 2022, it was revealed that the company would buy LogicBio Therapeutics, a participant in clinical-stage genomic medicine. In January 2023, AstraZeneca made the announcement that it would pay $1.8 billion to acquire CinCor Pharma.
6. Novartis
With offices in Cambridge, Massachusetts and Basel, Switzerland, Novartis AG was founded in March 1996. For immunisations, diagnostics, eyewear, and veterinary care, Novartis covers all varieties of pharmaceuticals, including those that are prescribed, over-the-counter, and for over-the-counter use. Handling, marketing, operations, and research are some of the duties that Novartis directly carries out through its businesses.
7. Janssen Pharmaceuticals
The company was founded in 1953 and has its headquarters in Beerse, Belgium. The company sells pharmaceuticals and offers goods on prescription for pain relief, women's health, neurology, mental health, and general medicine. The business engages in research and development pertaining to a variety of human medical diseases.
*Definition: The broad group of cancer medications known as immunotherapy activates the immune system to combat cancer cells. Drugs used in immunotherapy work to strengthen the immune system and assist the body in locating and eliminating cancer cells.
