Immune Checkpoint Inhibitors Market Expected Size 2021 to Reach $56,530 Million at a CAGR of 20.1% by 2025
Pune, Maharashtra, India, February 23 2021 (Wiredrelease) Allied Analytics –:Immune Checkpoint Inhibitors Market, by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025,” the global immune checkpoint inhibitors market was valued at $10,566 million in 2017, and is expected to reach $56,530 million by 2025, growing at a CAGR of 20.1% from 2018 to 2025.
Immune checkpoint inhibitor targets checkpoint proteins and assists the immune system to recognize and attack cancer cells. Immune checkpoint inhibitors are expected to exhibit significant market growth during the forecast period, due to upsurge in demand for ideal therapeutics for the treatment of cancer, favorable reimbursement policies provided by manufacturers & insurance providers in some countries, and surge in prevalence of cancer across the globe.
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Increase in prevalence of cancer and high efficacy of immune checkpoint inhibitors play a major role in the growth of the market. Furthermore, increase in awareness of checkpoint inhibitor drugs in the developing countries is expected to boost their demand in the coming years.
Based on type, the global immune checkpoint inhibitors market is categorized into CTLA-4 inhibitor, PD-1 inhibitor, PD-L1 inhibitor, and others. The PD-1 inhibitor segment was the major revenue contributor in 2017, and is anticipated to continue this trend during the forecast period, due to increase in adoption of PD-1 inhibitors such as pembrolizumab and nivolumab globally. However, PD-L1 inhibitor segment is projected to exhibit the fastest growth during the forecast period, owing to rise in use of durvalumab & avelumab and surge in R&D for combination studies of PD-L1 inhibitors for newer indications.
By application, the market is classified into lung cancer, bladder cancer, melanoma, Hodgkin lymphoma, and others. The lung cancer segment presently dominates the market, and is expected to remain dominant during the forecast period, due to increase in use of immune check point inhibitors for the treatment of lung cancer and surge in prevalence of lung cancer globally. However, the bladder cancer segment is projected to show fastest growth during the forecast period, due to increase in incidence of bladder cancer.
North America accounted for more than half of the global market share in 2017, and is expected to remain dominant throughout the forecast period. This is attributed to increase in demand for immune checkpoint inhibitors, high prevalence of cancer, rise in number of trained medical professionals, and supportive reimbursement policies in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, majorly due to upsurge in prevalence of cancer coupled with increase in adoption of immune checkpoint inhibitors.
The key players profiled in this report include AstraZeneca PLC., Bristol-Myers Squibb Company, Eli Lilly and Company (ARMO Biosciences.), Fortress Biotech, Inc. (Checkpoint Therapeutics, Inc.), F. Hoffmann-La Roche Ltd. (Genentech, Inc.), Immutep Limited, Merck & Co., Inc., Merck KGaA (EMD Serono, Inc.), Novartis AG, and Pfizer Inc.
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