DUBLIN–(BUSINESS WIRE)–Dec 30, 2020–
The “Immuno-Oncology Drugs Global Market Report 2020-30: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com‘s offering.
Immuno-Oncology Drugs Global Market Report 2020-30: COVID-19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global immuno-oncology drugs market.
Major players in the immuno-oncology drugs market are 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, and AbbVie Inc.
The global immuno-oncology drugs market is expected to decline from $59.64 billion in 2019 to $57.34 billion in 2020 at a compound annual growth rate (CAGR) of -3.86%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $80.11 billion in 2023 at a CAGR of 11.79%.
The immuno-oncology drugs market consists of sales of immuno-oncology drugs used for the treatment of cancer and related services by entities (organizations, sole traders and partnerships) that produce immuno-oncology drugs for cancer treatment. Immuno-oncology is the artificial stimulation of the immune system to treat cancer, improving the immune system’s ability to fight the disease. The market consists of revenue generated by the companies manufacturing immuno-oncology drugs by the sales of these products.
North America was the largest region in the immuno-oncology drugs market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
In December 2019, Sanofi, a Paris-based biopharmaceutical company, acquired Synthorx, Inc. for $2.5 billion. This acquisition is expected to allow Sanofi to gain access to Synthorx’s immuno-oncology drug candidate IL-2 therapeutics for solid tumors along with its expanded genetic alphabet platform. This builds a portfolio of high-quality assets for Sanofi to lead with innovation in the oncology market. Synthorx, Inc. is a US-based clinical-stage biotechnology company focused on cancer and autoimmune disorders.
The immuno-oncology drugs market covered in the report is segmented by type into monoclonal antibodies; immune checkpoint inhibitors; immune system modulators; cancer vaccines; others, by therapeutic application into melanoma; lung cancer; blood cancer; renal cell carcinoma; prostate cancer; bladder cancer; others, and by end-user into hospitals; clinics; ambulatory surgical centers; cancer research institutes.
The high cost of immuno-oncology therapies is a key factor hampering the growth of the market. The immunotherapy drugs cost more than the other cancer drugs and people who need immunotherapy for cancer, too often are not able to afford it. High costs associated with drugs is a major issue faced by patients across the globe. The pressure to contain costs and demonstrate value is widespread. In less wealthy countries, the lack of cost-effective drugs has influenced the health conditions of the population and has led to a low average life expectancy.
Companies in the immuno-oncology drugs market are increasing their product innovation through strategic collaborations. To sustain in the increasingly competitive immuno-oncology drugs market, companies are developing innovative products as well as sharing skills and expertise with other companies. While companies have long collaborated with each other as well as with academic and research institutions in this market by way of partnerships, and in- or out-licensing deals, this trend has been increasing over the recent years.
In 2019, Takeda announced its decision to accelerate the discovery of next-generation cancer immunotherapies, through collaborations. The company will collaborate with Memorial Sloan Kettering Cancer Center (MSK) to discover and develop novel chimeric antigen receptor T-cell (CAR-T) products for the treatment of multiple myeloma, acute myeloid leukemia and additional solid tumor indications.
The rise in the number of cancer cases across the globe is likely to contribute to the growth of the immune-oncology drugs market. According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancers worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of the new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the immune-oncology drugs market over the coming years.
- 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
- Spectrum Pharmaceuticals
- Janssen Biotech
For more information about this report visit https://www.researchandmarkets.com/r/vu5r31
View source version on businesswire.com:https://www.businesswire.com/news/home/20201230005147/en/
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INDUSTRY KEYWORD: GENERAL HEALTH PHARMACEUTICAL HEALTH ONCOLOGY
SOURCE: Research and Markets
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PUB: 12/30/2020 07:27 AM/DISC: 12/30/2020 07:27 AM