Immunotherapy Drugs Market Size, Share, Growth, Trends, and Global Industry Analysis: By Drugs (Vaccines (Preventive Vaccines, Therapeutic Vaccines), Monoclonal Antibodies, Interferons Alpha & Beta, Checkpoint Inhibitors, Interleukins, and Others), By Therapy Area (Autoimmune & Inflammatory Diseases, Cancer, Infectious Diseases, and Others), By End User (Hospitals/Clinics, Cancer Research Centre, and Others), and Region Forecast 2019-2023    

Immunotherapy Drugs Market size was valued at US$ 216.1 billion in 2023 and is expected to reach US$ 395.34 Billion by 2030, growing at a CAGR of 12.4% from 2024 to 2030 due to surge in the prevalence of chronic diseases. According to International Agency for Research on Cancer (IACR) in 2018, 18.1 Mn people are estimated to be suffering from cancer worldwide, which is expected to reach 29.5 Mn by 2040. Moreover, the rising demand and development of monoclonal antibodies (mAbs) and the emergence of biosimilars are the major factors that are driving the growth of the market. Additionally, favorable reimbursement policies and support by the government fuel the growth of the market.

However, the High cost of treatment for chronic diseases hinders the growth of the market over the forecast period. The global market is surging owing to strategic collaborations and definitive agreements between the market players to develop and commercialize products in the market.

Immunotherapy Drugs Market Key Developments

• In March 2018, Inovio collaborated with ApolloBio Corp, and provided exclusive right to develop, manufacture and commercialize VGX-3100, a DNA immunotherapy, in greater China.
• In March 2018, Novartis collaborated with Wyss Institute for Biologically Inspired Engineering at Harvard University and the Dana-Farber Cancer Institute to develop next generation biomaterials systems to deliver immune-oncology therapies.