Immunology Drug Market Report
Immunology Drug Market, By Drug Type (Monoclonal Antibodies (mAb), Antibody Drug Conjugates, Interferon and Cytokine therapies, Immunosuppressive medication), By Application (Hospitals, Clinics, Cancer Research Centers and Institutes), and Region - COVID-19 Impact Analysis and Forecast to 2026.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global immunology drug market. The historic years considered for the study are 2016-2019, the base year is 2020, and the forecast period is 2021-2026.
Immunology Drug Market, By Drug Type (Monoclonal Antibodies (mAb), Antibody Drug Conjugates, Interferon and Cytokine therapies, Immunosuppressive medication), By Application (Hospitals, Clinics, Cancer Research Centers and Institutes), and Region -
Impact of COVID-19 on Immunology Drug Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Immunology Drug market is projected to grow from USD 85.7 billion in 2020 to USD 135.8 billion by 2026 at a CAGR of around 8.2% during the forecast period.
The immune system is a combination of structures and processes inside the body to protect against possibly damaging foreign bodies and diseases. It identifies several threats such as viruses, bacteria, and parasites and distinguishes them from the body's healthy tissues. These drugs aid in curing autoimmune diseases. The drugs also help in killing cancer cells and have become the preferred choice of many.
Key players operating in the immunology drug market are-
The rise in the prevalence rate of various types of cancer and rheumatoid cancer, growing funding from the various government & non-government organizations, and increasing government initiatives, are some of the key factors augmenting the immunology drug market growth. Moreover, patients with poor prognoses are further expected to boost the growth of the immunology drug trial evidence reveals which after preparing the immune system to fight against cancer immunology, drug effects last for a long time even after the reduction of the tumor. However, the high cost of these drugs is likely to hamper industry growth.
By drug type, the immunology drug market has been classified into monoclonal antibodies (mAb), antibody-drug conjugates, interferon and cytokine therapies, immunosuppressive medication. Under these, the monoclonal antibodies (mAb) segment accounted for a significant market share in 2020 and is projected to register significant growth during the review period. This is mainly attributed to the rising number of approvals for mAb by the government bodies to treat chronic ailments across the globe, further fostering segment growth.
By region, the market in North America accounted for a significant market share in 2020 and is projected to grow at a significant CAGR during the assessment period. This is mainly ascribed to the rising prevalence of chronic ailments, robust healthcare infrastructure, the higher diagnosis rate of the patients, increasing healthcare expenditure, and a large number of home healthcare facilities, which further proliferates the regional market growth.
The COVID-19 outbreak positively influenced the immunology drug market growth. The growing use of immunology drugs in the treatment of COVID-19 infection can be effective in the management of the disease. The pandemic has increased the demand for immunology drugs as people are consuming these products to prevent the transmission of coronavirus across the globe. Hence, several manufacturers are trying to develop new products to keep up with the high demand, thus boosting the market growth.
Here is the list of the group of customers that the immunology drug market hopes to have the greatest opportunity to convert-
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The immunology drug market is expected to witness an impressive growth of 8.2% CAGR in the coming years.
Pfizer Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), AbbVie, Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Merck Sharp & Dohme Corp. (U.S.), Novartis AG (Switzerland), Janssen Global Services, LLC (U.S.), Amgen Inc. (U.S.), Astellas Pharma Inc. (Japan), and UCB SA (Belgium) are among the key players in the immunology drug market.
The immunology drug market size is expected to reach USD 135.8 billion in the foreseeable future.
The monoclonal antibodies (mAb) segment is expected to register significant growth in the immunology drug market in the coming years.
North America is expected to grow at a significant CAGR in the immunology drug market in the next five years.
Immunology Drug distributors, Immunology Drug suppliers, Immunology Drug manufacturers, Logistics organizations, Government bodies are the target audience in the immunology drug market.