In a recent survey, the Immunotherapy Drugs Market was valued at $ 164.68 billion in 2020 and is expected to reach USD 276.51 billion by 2026, registering a CAGR of 8.41 percent in the forecast period. Today, the primary factors attributing to the growth of immunotherapy are the rising adoption of targeted therapy over traditional therapy, emergence of biosimilars, rising prevalence of chronic diseases and lifestyle disorders, and rising demand for monoclonal antibodies. Furthermore, factors such as growing research collaborations, an increasing number of research laboratories, and heavy investments in R&D by pharmaceutical and biotechnology companies will also support the growth of the market in the coming years.
The impact of COVID-19 on the immunotherapy drugs market has been positive because many companies are currently focused on the development of immunotherapy-based drugs or vaccines for the virus. With the availability of many vaccines in the market, currently, companies are in collaboration to conduct the various phases of clinical trials to assess the safety, tolerability, and immunogenicity of booster shots against COVID-19 variants in healthy participants. As per research studies, immunotherapies as an adjunct therapy in severe COVID-19 cases— treatments based on inflammatory cytokine neutralization, immunomodulation, and passive viral neutralization not only reduce inflammation, inflammation-associated lung damage, or viral load but could also prevent intensive care unit hospitalization and dependency on mechanical ventilation.
While, globally, there has been a continuous rise in the prevalence of several chronic diseases, which, in several cases, need immune-based therapies, the growth of immunotherapies in developed markets is high. However, despite improvements in treatment options, there are still significant screening, diagnostic, treatment, and survivorship-related disparities among specific population groups. With better government policies for support and fast-track clinical trials through findings and campaigns, most of these challenges can be resolved. To help organizations, this edition of Pharma Tech Outlook Magazine brings you the “Top 10 Immunotherapy Solution Providers in APAC - 2021.” The list gives you some of the most prominent organizations in the industry that have excelled with their portfolio by transforming business processes through their insights, solutions, and technological prowess.
