Immune Checkpoint Inhibitors Market to Reach $189.4 billion by 2032 – depth analysis of current trends & future estimation
The rise in cancer cases and the growing demand for effective treatment are anticipated to potentially drive the market growth. In addition, the growing initiatives in research and development of novel treatments and the rise in approvals from regulatory authorities are further driving the immune checkpoint inhibitors market growth.
According to the report, the global immune checkpoint inhibitors industry was valued at $40.1 billion in 2022, and is projected to reach $189.4 billion by 2032, growing at a CAGR of 16.8% from 2023 to 2032. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
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Impact of COVID-19 on Immune Checkpoint Inhibitors Market:
Possible Negative Impacts:
- Disruptions in Treatment: Concerns about increased infection risk in ICI-treated patients due to their suppressed immune systems led to some treatment delays or discontinuations during the pandemic. This might have negatively impacted market growth in the short term.
- Clinical Trial Delays: Lockdowns and resource allocation towards COVID-19 research impacted ongoing ICI clinical trials, potentially delaying potential market entry of new drugs or indications.
- Economic Challenges: The pandemic’s economic strain on healthcare systems and individual finances could have limited access to expensive ICI treatments for some patients, impacting market growth.
Potential Positive Impacts:
- Increased Research on ICI Use in Viral Infections: Research investigating the potential of ICIs in treating or preventing COVID-19, while largely inconclusive, raised awareness of the broader therapeutic potential of these drugs. This could lead to new research avenues and market expansion beyond cancer immunotherapy.
- Focus on Telemedicine and Remote Monitoring: The pandemic accelerated the adoption of telemedicine and remote monitoring technologies for managing patients on ICIs. This could improve patient convenience and compliance, potentially bolstering the market.
- Potential Value of Combination Therapies: Research exploring the use of ICIs in combination with other therapies, including antivirals, for COVID-19 treatment highlights their potential for synergistic effects in various disease areas. This could broaden the market applicability of ICIs.
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Segmental Overview
The immune checkpoint inhibitors market is segmented based on product type, application, and region. Based on product type, the market is categorized into CTLA-4 inhibitor, PD-1 inhibitor and PD-L1 inhibitor. On the basis of application, the market is classified into lung cancer, bladder cancer, melanoma, colorectal cancer, Hodgkin lymphoma and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, and rest of LAMEA).
Key findings of the study:
- On the basis of product type, the PD-1 inhibitor segment dominated the immune checkpoint inhibitors market size in terms of revenue in 2022 and is expected to witness highest CAGR during the immune checkpoint inhibitors market forecast period.
- On the basis of application, the lung cancer segment dominated the immune checkpoint inhibitors market size in terms of revenue in 2022 and is expected to witness highest CAGR during the forecast period.
- Region-wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Regional Analysis:
The market across North America held the major share in 2020, garnering more than three-fifths of the global immune checkpoint inhibitors market and is estimated to maintain its leadership status throughout the forecast period, owing to high expenditure on R&D, presence of major players & their product availability, and well-established healthcare infrastructure in the region. The Asia-Pacific region, however, would manifest the fastest CAGR of 18.4% throughout the forecast period, owing to the improvement in R&D facilities, available disposable income, and rapidly developing economic conditions in the region.
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Leading Market Players: –
- AstraZeneca PLC
- Bristol Myers Squibb Company
- Eli Lilly and Company
- GlaxoSmithKline PLC
- F. Hoffmann-La Roche Ltd.
- Sanofi
- Merck & Co. Inc.
- Merck KGaA
- BeiGene Ltd.
- Shanghai Jhunsi Biosciences Ltd.
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