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Immune Checkpoint Inhibitors Market Report
Immune Checkpoint Inhibitors Market, By Inhibitor Type (CTLA-4 Inhibitors, PD-1 Inhibitors, Others), By Application (Hodgkin Lymphoma, Kidney Cancers, Melanoma, Non-small Cell Lung Cancer, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and Region ...
Impact of COVID-19 on Immune Checkpoint Inhibitors 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 Immune Checkpoint Inhibitors Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of 18.2% during the forecast period.
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Immune checkpoint inhibitor may be a style of drug utilized in immunotherapy. Although conventional chemotherapeutic drugs remain the first-line option for the treatment of most cancer types, targeted immune therapies are evolving as standard treatments for advanced-stage cancers. These drugs tar-get cell surface checkpoint proteins to stimulate the popularity and destruction of cancer cells by the system.
Key players operating in the immune checkpoint inhibitors market are-
The rise in prevalence of cancer across the globe and growing awareness of immune checkpoint inhibitors propel the product demand. Also, technological developments in screening procedures for cancer, increase in government initiatives to cure cancer, growing healthcare expenditures, and rise in public awareness further boost the market growth. However, the high cost associated with research activities is likely to restrain the industry growth.
Based on inhibitor type, the market has been classified into CTLA-4 inhibitors, PD-1 inhibitors, and others. The PD-1 inhibitors segment accounted for a substantial market share in 2020. This is mainly ascribed to the increased volume of research activities, approvals, and surge in prescriptions of these drugs such as nivolumab and pembrolizumab. In addition, the growing adoption of pembrolizumab, the first PD-1 inhibitor since its approval, owing to its proven efficiency to treat multiple FDA-Approved indications like melanoma, further boosts the segment growth.
The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period. This is mainly attributed to the strong presence of well-developed healthcare infrastructure and favorable government initiatives. Moreover, rising innovations in technologically advanced products, immense per capita health expenditures; and increasing prevalence of various chronic diseases such as skin cancer, diabetes, urothelial carcinomas, and lung cancers, which further proliferates the regional growth.
The COVID-19 outbreak moderately affected the growth of the immune checkpoint inhibitors market. Rising cases of coronavirus across the globe put a heavy strain on the healthcare sector. As the medical community is treating the infected patients, the research related to immune checkpoint inhibitors was moderately impacted, thus resulting in fewer visits to clinics.
Here is the list of the group of customers that the immune checkpoint inhibitors market hopes to have the greatest opportunity to convert-
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The immune checkpoint inhibitors market is expected to witness an impressive growth of 18.2% CAGR in the foreseeable future.
Bristol-Myers Squibb Company (US), Merck & Co. (US), F. Hoffmann-La Roche AG (Switzer-land), Regeneron Pharmaceuticals Inc. (US), AstraZeneca PLC (UK), Eli Lilly and Company (AR-MO Biosciences.) (US), Fortress Biotech, Inc. (US), Novartis AG (Switzerland), and Pfizer Inc. (US) are among the key players in the immune checkpoint inhibitors market.
Technological developments in screening procedures for cancer, increase in government initiatives to cure cancer, growing healthcare expenditures, and rise in public awareness are the factors driving the growth of immune checkpoint inhibitors market.
The PD-1 inhibitors segment accounted for a substantial share in the immune checkpoint inhibitors market in 2020.
North America is expected to remain dominant in the immune checkpoint inhibitors market in the next five years.
Immune Checkpoint Inhibitors distributors, Immune Checkpoint Inhibitors suppliers, Immune Checkpoint Inhibitors manufacturers, Hospitals, Government bodies are the target audience in the immune checkpoint inhibitors market.
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