The ballooning incidence of chronic diseases is turning out to be a healthcare burden that is affecting both low- and middle-income countries (LMIC) and high-income nations. According to the World Health Organization (WHO), these diseases were responsible for the deaths of as many as 9.6 million people in 2018. In addition to this, the organization found that the LMIC witness nearly 70% of the total deaths caused due to cancer.
Many drugs produced by the immunotherapy industry players for the management and treatment of various chronic diseases are currently undergoing clinical trials. This is a major reason why the rising usage of immunotherapy drugs for combating the growing incidence of chronic diseases is a crucial factor fueling the sales of these medicines. Additionally, the rising requirement for monoclonal antibodies (mAbs), the increasing adoption of target therapies, and the growing popularity of biosimilars are propelling the global sales of immunotherapy drugs.
This is driving the expansion of the global immunotherapy drugs market. According to the estimates of P&S Intelligence, a market research firm based in India, the valuation of the market would grow from $106.1 billion in 2017 to $227.6 billion in 2023. Moreover, the market is predicted to progress at a CAGR of 13.6% from 2018 to 2023. Vaccines and checkpoint inhibitors are the main types of immunotherapy drugs used all over the world.
Between these two, the usage of the checkpoint inhibitors was found to be higher in the past years. The sales of these drugs are predicted to be significantly high in the upcoming years as well. This would be because of the rapid development of monoclonal antibodies and the rising usage of chimeric antigen receptor (CAR) T-cell therapies across the world. Therapeutic and preventive are the most commonly used types of vaccines throughout the world.
Between these, the usage of preventive vaccines was found to be higher in the past few years. Out of the several vaccine brands available, Prevnar/Prevenar 13 is currently one of the most widely used vaccines and generated $5.6 billion revenue in the industry in 2017. Immunotherapy drugs are extensively used for the treatment of infectious diseases, autoimmune and inflammatory diseases, and cancer. Out of these, the utilization of these drugs was the highest for cancer treatment in 2017.