Next Generation Immunotherapies Market to reach US$ 268.84 billion by 2033, Monoclonal Antibodies were Primary Drug Class: FMI Report
The global next generation immunotherapies market is estimated to exceed a spectacular valuation of US$ 268.84 billion in 2033, with a compound annual growth rate (CAGR) of 7.5% projected from 2023 to 2033. The vast majority of present immunotherapies, such as checkpoint inhibitors, seek to enhance the immune system’s adaptive response, precisely cytotoxic T cells, in order to battle cancer. As a consequence, this is supposed to contribute to market expansion.
Since late 2019, a novel coronavirus renowned as severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) has caused massive unexpected chaos around the globe. This urged global attempts to create treatments and vaccines against SARS-COV-2, and luckily, numerous vaccines are now authorized for the case of emergency use. As a consequence, the demand for next-generation immunotherapies has risen exponentially over the past few years.
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North America is expected to lead the whole industry in terms of the market in 2021, attributed to the existence of a huge number of the biggest firms, along with a large number of activities organized by them. Besides this, the emergence in the incidence of disease, the existence of many government and non-government corporations that reinforce cancer immunotherapy studies, and the expanding authorization of new compounds are bolstering the regional market expansion. Asia-Pacific is predicted to expand at the highest rate during the projected timeframe. Several of the key factors for significant growth are an increment in the aging population, a growing patient platform of a focused disease, and improved medical facilities.
Key Takeaways from the Market Study
- From 2018 to 2022, sales increased significantly at a CAGR of 6.9%.
- Monoclonal antibodies ruled the drug class, accumulating 71% market share in 2021
- The hospital pharmacy segment led the industry in 2021, with a profitability of 56.71%.
- The global next generation immunotherapies market is expected to be worth US$ 112.88 billion by 2023.
- The global market for Next Generation Immunotherapies is expected to be worth $268.84 billion by 2033.
“The involvement of various administrations and non-governmental organizations that raise awareness and encourage research is assisting in the market’s expansion. Furthermore, increasing funding for the advancement of novel therapeutics is expected to boost R&D initiatives in order to develop the business for Next Generation Immunotherapies.” says FMI’s analyst
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Key Market Players
Key players in the next generation immunotherapies market are Bristol Myers Squibb, Regeneron Pharmaceuticals, MacroGenics, Boehringer Ingelheim, Mereo BioPharma, Huabo Biopharm, Sigma-Baldric, Avantor, Inc., Pall Corporation, AstraZeneca, ImmunAbs, IMBiologics, Novacell Technology Inc.
- In January 2023, Boehringer Ingelheim and 3T Biosciences announced a joint strategic alliance and licensing contract to analyse and advance next-generation cancer therapies to address high unmet needs.
- Following a fruitful FDA conference in March 2022, MacroGenics finished the Phase 2/3 qualitative research for MGC018 in patients with metastatic castration-resistant prostate cancer (mCRPC).
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global next generation immunotherapies market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the next generation immunotherapies market, the market is segmented on the basis of Drug Class (Monoclonal Antibodies, Antibody-drug Conjugates – ADC’s, Ace Inhibitors, Immune Checkpoint Inhibitors), By Route of Administration (Intravenous, Parenteral, Intratumoral, Subcutaneous, Oral), By Distribution Channel (Hospital Pharmacies, Clinical Pharmacies, Others), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segments Profiled in the Next Generation Immunotherapies Market Industry Survey
By Drug Class:
- Monoclonal Antibodies
- Antibody-drug Conjugates – ADC’s
- Ace Inhibitors
- Immune Checkpoint Inhibitors
By Route of Administration:
By Distribution Channel:
- Hospital Pharmacies
- Clinical Pharmacies
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.
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