Immune Checkpoint Inhibitors Market size is $15,230m in 2019, growing at a CAGR of 25.3% during the forecast period 2020-2025. Immune checkpoint inhibitors are anticancer drugs used in cancer immunotherapy for the enhancement of the immune response to detect and target cancer cells. The immune checkpoints are activated to suppress the anti-tumor activity of the immune system thereby suppressing the immune response against the cancer cells. PD-1 inhibitors, CTLA-4 blockade and others are the immune checkpoint inhibitors drug used for targeted cancer treatments in advanced forms of lungs cancer, breast cancer, colorectal cancer and others types of cancer in patients. These immunotherapy drugs target cell surface checkpoint proteins to stimulate the recognition and destruction of cancer cells by the immune system.
By Application – Segment Analysis
In 2019, Lung Cancer segment dominated the Immune Checkpoint Inhibitors Market in terms of revenue is estimated to grow at a CAGR of 16.1%. According to the World Health Organization (WHO), lung cancer is the second leading cause of death in the world owing towards the smoking pattern of populations. Immunotherapy drugs such as PD-1 inhibitors, CTLA-4 and PD-L1 is used to treat lung cancer in people with stage III NSCLC whose cancer cannot be removed with surgery. Ipilimumab, nivolumab, atezolizumab, and durvalumab are the FDA approved Immune checkpoint inhibitors drugs for the treatment of lung cancer abetting towards the market’s growth.
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Geography – Segment Analysis
In 2019, the North America region dominated Immune Checkpoint Inhibitors Market in terms of revenue with a market share of 39% owing towards the increase of oncology patients in this region. The rising government support and funding towards development of new drugs for cancer treatment also encourages researchers in developing new and novel drugs. The funding from government help in the development of drugs for the treatment of cancer are key factors towards the growth of the Immune Checkpoint Inhibitors market. Asia Pacific is estimated to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Immune Checkpoint Inhibitors Market
Rising Incidences of Cancer
According to World Health Organization (WHO), in 2018, 9.6 million people worldwide deceased owing to cancer. Cancer is said to be one of the leading causes of death globally. The increasing incidence of cancer has increased the need for cancer immunotherapy driving towards the growth of the market. The awareness and screening programs organized by the government is the major factor driving growth of the Immune Checkpoint Inhibitors market.
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Challenges – Immune Checkpoint Inhibitors Market
High cost is associated with the development and manufacture of cancer monoclonal antibody drugs. They undergo long period of research and development and also the clinical trials take long time restraining growth of the market. Lack of last stage cancer therapy cost effective drugs is the major factor hampering the growth of the market.
Immune Checkpoint Inhibitors Industry Outlook
Product Launches was the key strategy of the players in the Immune Checkpoint Inhibitors Industry. Immune Checkpoint Inhibitors top 10 companies include Bristol-Myers Squibb, Merck & Co., Inc., Roche Group, AstraZeneca, Merck KGaA, Ono Pharmaceutical Co., Ltd., Novartis International AG, Juno Therapeutics, Kite Pharma and Pfizer Inc.
In January 2020, Novartis International AG acquired The Medicines Company. This acquisition helped the Novartis in the treatment of the world’s leading cause of mortality and disability with a vaccine-like approach.
In January 2020, Merck & Co. Inc. acquired Zedi’s ArQule, Inc. This acquisition helped the company in increasing the production related healthcare products.
Rising government initiatives with an objective of improving awareness about diagnosis and treatment.
Rising number of populations is the factor that is leading to increase in number of hospitals and diagnostic centers.
Increasing number of cancer incidences is set to propel the growth of the market.
Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025.
Related Reports :
A. Cancer Immunotherapy Market
B. Immunotherapy Drugs Market
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