Immuno-oncology Drugs Market Poised to Surpass the US$ 37,783.6 Million Threshold over the Forecast Period By 2027 | CAGR: 16.5%: Coherent Market
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The global immuno-oncology drugs market, by drug type (Immune Checkpoint Inhibitors, Monoclonal Antibodies, Cytokine-Based Immunotherapy, Cancer Vaccines, and CAR-T Cell Therapy), by cancer type (Non-Small Cell Lung Cancer, Acute Myeloid Leukemia, Lymphoma, Multiple Myeloma, Breast Cancer, Ovarian Cancer, Prostate Cancer, Colorectal Cancer, Gastric Cancers, Glioblastoma, and Head & Neck Cancers), was valued at US$ 11,060.6 Mn in 2019 and is expected to exhibit a CAGR of 16.5% over the forecast period (2020-2027).
The global immune-oncology drugs market has gained significnat traction in the recent past, buoyed by pivotal factors, such as burgeoning prevalence of cancer, innovative product launches, and a robust pipeline of drugs. Key manufacturers in this market have been making R&D investments for the development of novel immune-oncology therapies, besides upgrading the available immune-oncology drugs for cancer treatment. For instance, AstraZeneca’s Durvalumab (Imfinzi) received regulatory approval in 2017 as an immune checkpoint inhibitor, which blocks the interaction of PD-L1 with PD-1 and CD80. Subsequently, in December 2017, Bristol-Myers Squibb received approval for its Nivolumab (Opdivo) for the adjuvant treatment of melanoma. In August 2017, Novartis received approval for the CAR-T therapy, known as Kymriah, indicated for children and young adults suffering from B- cell lymphoblastic lymphoma. Furthermore, in October 2017, Gilead Life Science acquired Kite pharma Ltd., after the company’s CAR-T therapy Yescarta received the U.S. FDA approval.
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These days, the leading market players, as well as small- and mid-sized players, are dynamically participating in R&D programs to support the global immuno-oncology drugs market growth. For instance, in January 2018, Feldan Therapeutics and Green Cross LabCell joined hands to develop natural killer cell-based immunotherapies. In January 2018, OBI Pharma initiated Phase 1 Trial of immunotherapy candidate OBI-888 in advanced solid tumor patients. Furthermore, in January 2018, Keytruda, developed by Merck & Co. reported slow liver cancer progression in the Phase 2 trial.
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A multitude of immuno-oncology combination therapies are currently undergoing extensive research for various cancer indications. In January 2018, the U.S. FDA granted the breakthrough therapy status to the Lenvima-Keytruda drug combination for the treatment of advanced kidney cancer. Furthermore, in February 2018, the Opdivo-Yervoy combination therapy showed delayed disease progression in patients with advanced non-small cell lung cancer. In January 2018, Celgene Corporation announced the acquisition of Juno Therapeutics, Inc. to gain access to the novel CAR-T therapy, which is presently in the pipeline. Furthermore, Amgen, Inc. received FDA approval, for Imlygic in 2017, which is an oncolytic virus to treat melanoma.
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Key Takeaways of the Global Immuno-Oncology Drugs Market:
- Bristol Myers Squibb, Novartis, and Pfizer, Inc. are some of the key companies that are working on the development of innovative immune-oncology therapies. This is a significant growth propeller for the global market.
- The U.S. FDA has approved several immune checkpoint inhibitors, including Yervoy (anti-CTLA-4), Opdivo and Keytruda (anti-PD1), and Tecentriq (anti-PD-L1).
- Research partnerships and collaborations to develop new drugs by various market players are contributing to the global market expansion.
- The prominent contenders of the global immuno-oncology drugs market include Amgen, Inc. AstraZeneca Plc, Bristol-Myers Squibb, Celgene Corporation, Eli Lilly and Company, Merck & Co., F. Hoffmann-La Roche AG, Johnson & Johnson, Novartis International AG, AbbVie, Inc., Pfizer Inc., Sanofi S.A., EMD Serono, Inc., Gilead Sciences Inc., Prometheus Therapeutics & Diagnostics, Aduro BioTech, Galena Biopharma, Bavarian Nordic, Celldex Therapeutics, ImmunoCellular Therapeutics, and Incyte.
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