Over the projection period, prominent market players are anticipated to utilise more organic techniques, such as funding, to increase their market share. For instance, the biotechnology business Agenus Inc. reported in July 2020 that Betta Pharmaceuticals Co., Ltd. had closed a US$ 20 million equity investment at US$ 4.03 per share, bringing the total received to US$ 35 million. With the help of this investment, Betta will be granted exclusive rights for the research and development of balstilimab and zalifrelimab as monotherapies and in combination, excluding intravenous delivery, throughout greater China. The global market for immuno-oncology medications is anticipated to grow as inorganic tactics such product approval by regulatory bodies like the European Commission (EC) are being adopted. Over the forecast period, the global market for immuno-oncology medications is anticipated to be driven by ongoing research and development by prominent industry players. Due to increased research and development by major market players in that region, North America is anticipated to hold the biggest market share in the global market for immuno-oncology medications during the course of the forecast year.
As per Coherent Market Insights, during the projection period (2022-2030), the market for Immuno-Oncology medications is anticipated to grow at a CAGR of 16.8%, reaching an estimated value of US$ 17,394.2 million in 2022.
Prominent Companies in the Immuno-oncology Drugs Industry:
1. Novartis AG,
The company was founded in March 1996 and has its main offices in Basel, Switzerland, and Cambridge, Massachusetts, in the United States. Novartis provides coverage for all types of medications, including authorization, over-the-counter, immunisations, diagnostics, eyewear, and veterinary care. Through its firms, Novartis engages in a number of direct activities, including managing, advertising, operations, and research.
2. Pfizer Inc.,
The company was established in 1849, and Manhattan, New York City, is where its corporate headquarters are situated. Through the creation of pharmaceuticals and vaccines, Pfizer seeks to enhance the fields of immunology, cancer, the heart, endocrinology, and neurology. In October 2022, the business successfully acquired Biohaven Pharma's calcitonin gene-related peptide programmes. Pfizer purchased Amplyx Pharmaceuticals in April 2021, which included the rights to the antifungal drug fosmanogepix (APX001).
3. Sanofi
The business was established in 1973 and is based in Paris, France. The company provides drugs, generic medications, food supplements, cosmetics, and medical devices for conditions like cancer, cardiology, gynaecology, and diabetes. The business declared in March 2023 that it will buy Provention Bio and its pipeline of type 1 diabetic treatments.
4. Bristol-Myers Squibb Company
It was founded in 1887, and it is headquartered in New York, USA. The company makes prescription medications and biologics for a variety of illnesses, including cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis, and psychiatric disorders. BMS announced that it would buy Turning Point Therapeutics Inc. for $4.1 billion in cash in June 2022.
5. Merck & Co., Inc.
The business was founded in 1668, and Rahway, New Jersey is where its headquarters are. Merck produces medicines, vaccines, biologic therapies, and things for animal health. After paying an undisclosed sum for the cattle management company Vence, the company announced in September 2022 that it will merge with Merck Animal Health. In February 2021, Merck Animal Health acquired PrognostiX Poultry.
6. F. Hoffmann-La Roche Ltd.
The company was founded in 1896 and has its headquarters in Basel, Switzerland. The business provides cancer and transplant drugs, as well as in-vitro diagnostics. Roche declared in March 2021 that it would buy GenMark Diagnostics for $1.8 billion. In September 2021, the business revealed that it would buy the German biotech firm TIB Molbiol in order to grow its molecular diagnostics division.
7. AstraZeneca plc
The company was established in 1999, and its headquarters are in Cambridge, United Kingdom. Treatments for neurological, respiratory, inflammatory, viral, and heart problems are among its product offerings. In January 2023, AstraZeneca announced that it would purchase CinCor Pharma for $1.8 billion. The company announced in July 2022 that it would extend its portfolio of blood cancer drugs by purchasing TeneoTwo for up to $1.3 billion.
*Definition: The research and creation of cancer treatments that make use of the immune system of the body are known as immuno-oncology. A cutting-edge method of treating cancer is immuno-oncology, which boosts the immune system.
