The rising use of monoclonal antibodies and the growing prevalence of immunological illnesses will drive the market

calendar_today 16 January, 2023 person_outline Growth Plus Reports

According to the deep-dive market assessment study conducted by Growth Plus Reports, the global immunology market was pegged at ~US$ 92.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of ~8.2% from 2022 to 2030.

Over the forecast period, the global immunology market is anticipated to develop due to the rising use of monoclonal antibodies (mAb) and the rising prevalence of immunological illnesses. Additionally, the market for immunology is being driven by an increase in the occurrence of various cancer forms, rising government initiatives, and increased funding from different government and non-government organisations. The immunology market is anticipated to rise as a result of patients with poor prognoses. Trial data shows that therapeutic effects last for a long period even after the tumour has been reduced after the immune system has been primed to attack cancer immunology.

A growing number of oncologists are opting to immunotherapy drugs because they have a long-lasting effect by stimulating the immune system to recognise malignant cells and eradicate them naturally while also enhancing survival rates. Bacillus Calmette-Guérin (BCG) and Sipuleucel-T are two cancer vaccines that have been given FDA approval and that are driving the market for immunology drugs.

The market for immunology may experience significant expansion due to the alarming data regarding the incidence of autoimmune diseases globally. The American Autoimmune Related Diseases Association estimates that up to 50 million Americans are affected by autoimmune illness. There are 80 different types of autoimmune diseases, with rheumatoid arthritis, systemic lupus erythematous (lupus), juvenile lupus, inflammatory bowel disease, and psoriatic arthritis being the most common. These diseases affect various body organs, including joints, muscles, skin, red blood cells, blood vessels, connective tissues, and endocrine glands.

The immunology market has expanded owing to some of the most recent developments in the immunology medicine industry like companies engaged in joint ventures and R&D for effective technologies. The majority of immunology treatments are now undergoing clinical trials, and it is anticipated that once these products are approved or prove successful in these trials. However, the market for immunology could be constrained by high drug costs and a lack of awareness. The obstacles for the immunology market also include the advent of generic medications in some areas and a reduced rate of pipeline development. For instance, according to statistics obtained by the New York Times from the research firm SSR Health, the cost of Humira has increased from over $19,000 per patient per year in 2012 to more than $38,000 per patient per year in 2019 (after rebates).

The globally immunology market is anticipated to be dominated by North America. The United States dominated the global market because to factors like its well-developed healthcare infrastructure, higher prevalence of chronic illnesses, and comparably higher rates of patient diagnosis and treatment. 

Europe is expected to experience a large CAGR during the projection period, as autoimmune diseases are becoming more common, and more medications are approved in the region. For instance, the British Society for Immunology estimates that in 2018, 4 million Americans had an autoimmune disease.

The market in Asia Pacific is anticipated to develop at a faster CAGR because of the large population of patients with autoimmune illnesses and the rising demand for preventative care. Latin America and Middle East and Africa are anticipated to experience considerably slower growth as a result of their developing healthcare infrastructure and absence of favourable reimbursement regulations. However, it is anticipated that during the projected period, increasing patient demand for treatment choices along with rising public awareness would drive increased demand for these pharmaceuticals in these regions.

Some of the prominent players operating the market global antiviral drugs market include Pfizer, Inc., AbbVie Inc., Janssen Global Services, LLC (Johnson & Johnson), F. Hoffmann-La Roche Ltd, Amgen Inc., Novartis AG, Astellas Pharma Inc., UCB SA, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., ALLERGAN, Eli Lilly and Company. For instance, Momenta Pharmaceuticals, Inc. (Momenta), a firm that finds and develops innovative treatments for immune-mediated disorders, was bought by Johnson & Johnson Private Limited in August 2020 with the goal of giving Janssen Global Services the chance to diversify its product line. Moreover, in order to establish their presence in developing nations, other businesses like Astellas Pharma Inc., Merck Sharp & Dohme Corp., Bristol-Myers Squibb Company, etc. are constantly working to create new medications and strengthen their global distribution networks.

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