(Health-NewsWire.Net, July 31, 2020 ) The global immunotherapy drugs market is projected to reach USD 274.6 billion by 2025 from USD 163.0 billion in 2020, at a CAGR of 11.0% during the forecast period. The growth of this market is majorly attributed to the increasing adoption of immunotherapy drugs over conventional treatment regimens, the rising prevalence of cancer and autoimmune & infectious diseases, increasing demand for monoclonal antibodies and biosimilars, and fast track approvals from regulatory bodies.
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The immunotherapy drugs market is well established owing to the dominance of prominent market players, such as F. Hoffmann-La Roche Ltd. (UK), Pfizer Inc. (US), Merck & Co (US), Novartis International AG (UK), Johnson & Johnson (US), Sanofi (France), GlaxoSmithKline Plc (UK), Amgen Inc. (US), AbbVie Inc. (US), Boehringer Ingelheim (Germany), and AstraZeneca (UK).
F. Hoffmann-La Roche was the largest player in the immunotherapy drugs market in 2019. The company offers an extensive range of immunotherapy drugs for oncology and autoimmune diseases. Roche aims to be a reliable manufacturer and provider of immunotherapy products that will fulfill the needs of unmet medical therapy areas. The company focuses on organic and inorganic growth strategies to maintain its position in the market and expand its global presence. It has received numerous approvals in several different regions in the past three years for immunotherapy products like TECENTRIQ and ACTEMRA/ROACTEMRA. Roche focuses on acquisitions to strengthen its foothold in the market. It acquired Spark Therapeutics (US) in 2019 and Ignyta, Inc. (US) in 2017.
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Pfizer is the second-leading player in the global immunotherapy drugs market. The company has a strong presence in more than 90 countries and sells its products in more than 125 countries. The company offers innovative drugs and biologics in the fields of cancer and inflammatory diseases. It mainly focuses on inorganic growth strategies such as collaborations, agreements, and acquisitions. In past years, the company has conducted joint ventures with GSK (UK), Mylan (US), and Bain Capital (US) to form three separate entities. These efforts are in line with its strategy to enhance its product portfolio and geographic presence. Moreover, Pfizer has demonstrated a significant focus on product innovation in the field of cytokine products.
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