Traditionally, the basis of cancer treatment is comprised of radiation therapy, surgery, and chemotherapy. Recently, many positive treatment options have emerged in the field of immuno-oncology. These next generation cancer treatment options point to the opportunity of new improved techniques of anticancer therapy. Immunotherapy is termed as a biological therapy in which the primary aim is to improve the human immunity system to fight against diseases such as cancer and infectious diseases. Immunotherapy treatment increases the overall immunity of the body and confines the growth of cancer cells. The treatment allows immune cells to kill cancer cells from the body.
The global immunotherapy drugs market is driven by the rising incidences of cancer. The major factor for most cancers is the rise in geriatric population, as cancer rates increase with age. According to a report from WHO in 2015, approximately 50% of people treated with cancer in the U.K. are over the age of 60. Obesity, change in lifestyle, smoking, and eating habits are other important factors which are increasing the number of cancer patients. People are favoring toward cancer treatments with lesser side effects. This factor is likely to propel the growth of the global immunotherapy drugs market in the next few years, as immunotherapy drugs are found to have lesser side effects as compared to other treatments. Rise in opportunities in developing markets and immunotherapy as a substitute to chemotherapy for first line treatment are drivers which are expected to propel the growth of the market. In addition, quicker drug approval process and high prevalence rate of lifestyle diseases are projected to drive the market growth during the forecast period. However, high cost of immunotherapy devices, overall costly treatments, and lack of awareness about immunotherapy drugs and techniques are estimated to restrain the growth of the global immunotherapy drugs market in the near future.
The global immunotherapy drugs market is classified on the basis of type of drugs, application, end-user, and region. On the basis of type of drugs, the market is segmented into checkpoint inhibitors, adult vaccines, interleukins, monoclonal antibodies, interferons, alpha and beta, and others. The adult vaccines segment is subsegmented into therapeutic vaccines and preventive vaccines. The development of novel drugs and the entry of new molecules such as elotuzumab, obinutuzumab, zanolimumab, and onartuzumab into the market are projected to support the growth of this segment. On the basis of application, the market is classified as autoimmune and inflammatory diseases, cancer, infectious diseases, and others. The cancer segment is anticipated to hold a large part of the market share during the forecast period.
Geographically, the global immunotherapy drugs market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market during the forecast period due to favorable government initiatives, healthy R&D investment, personalized medicine, development of next generation sequencing, and availability of technologically advanced health care research framework. According to a report by WHO in 2016, it is anticipated that 1.75 million new cancer patients are likely to be detected in the U.S. only. Asia Pacific is estimated to register a high growth rate of the immunotherapy drugs market in the next few years due to development of health care infrastructure, high disposable income, rise in health and hygiene related awareness, large untapped market base, and economic development.
Key players operating in the global immunotherapy drugs market include GE Healthcare; Thermo Fisher Scientific Inc.; Cepheid; F. Hoffmann-La Roche Ltd; OPKO Health, Inc.; Myriad Genetics, Inc.; Agilent Technologies; Koninklijke Philips N.V; Qiagen; Illumina, Inc.; Novartis AG; Abbott; PerkinElmer, Inc.; Genomic Health, Inc.; and Sysmex Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.