Global immunology market is estimated to witness high growth, owing to rising prevalence of chronic diseases and increasing R&D investments
Immunology market is estimated to be valued at USD 96.51 Bn in 2024, exhibiting a CAGR of 12.2% over the forecast period 2024-2031. The market is witnessing high growth owing to rapidly rising prevalence of chronic diseases like cancer, diabetes, and autoimmune disorders globally. Furthermore, increasing investments in research and development of novel immunology drugs and therapies can drive the market growth.
Market Dynamics:
Global immunology market growth is driven by rising prevalence of chronic diseases as well as increasing R&D investments. The rapidly growing geriatric population globally has increased the burden of chronic diseases significantly. According to the data from WHO, chronic diseases accounted for over 70% of all deaths worldwide in 2020. This high disease prevalence has boosted demand for immunology drugs for treatment. Major market players are investing heavily in R&D to develop novel and targeted immunology therapies. For instance, in 2021, Johnson & Johnson spent over US$ 12 billion on R&D. This high investment is encouraging development of cutting-edge drugs to treat various chronic diseases, thu,s positively impacting the market growth. Government initiatives to support development of immunology drugs can provide opportunities for market growth over the forecast period.
Increasing Prevalence of Chronic and Infectious Diseases
One of the major drivers for growth of immunology market is rising prevalence of chronic and infectious diseases globally. Diseases such as cancer, diabetes, arthritis, and cardiovascular diseases have become highly common. The risk of infectious diseases has increased due to antibiotic resistance. Developing immunology drugs and therapies to treat and manage these conditions can boost demand. The need for stronger immunotherapies can boost significant research and development investments by pharmaceutical companies in this field.
Advancements in Monoclonal Antibody Therapies
Continuous advancements in monoclonal antibody therapies is expected to drive the immunology market growth. Monoclonal antibodies have emerged as a major treatment option for conditions where conventional drugs have limitations. These can be designed to precisely target specific cells or proteins, making them highly effective with fewer side effects. The development of next-generation humanized and engineered monoclonal antibodies with enhanced efficacy can drive the market growth. Their increasing approvals for treating cancer, autoimmune diseases, and other can drive the market growth.
High Cost of Immunology Drugs and Therapies
High cost of immunology drugs and therapies can hamper the market growth. Most immunology treatment options such as monoclonal antibodies, stem cell therapy, and gene therapy involve complex development processes, thus, making them very expensive. The costs are further increased due to low patient volumes and restricted insurance coverage for newer drugs. This price barrier restricts access and widespread adoption.
Stringent Regulations Pertaining to Product Approval
Immunology drugs and therapies are subjected to very stringent approval processes due to factors like safety risks and complex mechanisms of action. Regulatory bodies like the FDA impose rigorous guidelines for clinical trials, manufacturing, and marketing authorization. Any minor issues can lead to delayed approvals or product withdrawals, thus, negatively impacting companies. The requirements and timelines differ across geographies, creating operational challenges. The lengthy and complex regulatory processes can hamper the market growth.
Expanding Applications in Non-Oncology Areas
While oncology has been the major area of focus, companies are actively exploring immunology therapy applications in new disease categories with high unmet needs. Options like stem cell therapy, gene therapy, and CAR T-cell therapy are used for conditions like neurodegenerative illnesses, cardiovascular diseases, diabetes, and others. As the science progresses, these non-oncology segments are expected to generate lucrative opportunities. Successful development of immunology solutions for non-cancer areas can offer growth opportunities.
Growth Potential in Emerging Markets
Several developing markets like China, India, Brazil, Mexico, and others contribute to the expansion of the global immunology market. Rising health expenditures, growing disease incidence, increasing access to advanced treatments, and supportive regulations boosts demand from these regions. Their price-sensitivity requires more affordable treatment designs and network models. Catering to emerging market needs through tailored strategies can open up attractive opportunities for market players.
Link: https://www.coherentmarketinsights.com/market-insight/immunology-market-4594
Key Developments
- On May 22, 2024, Biogen Inc, a pharmaceutical company, and Human Immunology Biosciences, a privately-held clinical-stage biotechnology firm specializing in tailored treatments for individuals with severe immune-mediated diseases (IMDs), announced that both companies had signed a definitive agreement. As per the agreement, Biogen will purchase HI-Bio for an initial sum of US$ 1.15 billion, with the potential for additional milestone payments totaling up to US$ 650 million.
- On May 15, 2024, Blackstone, a investment management company, introduced Uniquity Bio, a clinical-stage drug development company concentrating on immunology and inflammation, within the Blackstone Life Sciences (“Blackstone”) portfolio. Uniquity Bio emerges from secrecy with the FDA's approval of its Phase 2 investigational new drug (“IND”) application for solrikitug, a monoclonal antibody aimed at TSLP, and is set to receive up to US$ 300 million in funding from Blackstone to progress the asset across various indications.
- Merck, recognized as MSD, a multinational science and technology company, and Prometheus Biosciences, Inc., a biopharmaceutical company, announced that both companies had signed a definitive agreement. As per the agreement, Merck, via a subsidiary, will purchase Prometheus for US$ 200.00 per share in cash.
- In November 2022, Genmab, a biotech company, and BioNTech, a Germany-based biotechnology company, collaborated to develop the DuoBody-PD-L1x4-1BB (GEN1046) monoclonal antibody for Phase 1/2 trials in solid tumors and Phase 2 trials in non-small cell lung cancer
- In October 2022, the U.S. FDA granted approval for the combination of durvalumab (Imfinzi) and tremelimumab (Imjudo) for individuals with unresectable hepatocellular carcinoma, the predominant form of liver cancer
Key Players: AbbVie Inc., Johnson & Johnson, Amgen Inc., F. Hoffmann-La Roche Ltd, Pfizer Inc., Novartis International AG, Bristol-Myers Squibb Company, Merck & Co., Inc., AstraZeneca PLC, Sanofi, GlaxoSmithKline plc, UCB S.A., Eli Lilly and Company, Gilead Sciences Inc., Celgene Corporation, Biogen Inc., Regeneron Pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd.
