The global Immuno-oncology Drugs Market is estimated to be valued at US$ 1020.24 Bn or Mn in 2023 and is expected to exhibit a CAGR of 16.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Immuno-oncology drugs work by stimulating the body's immune system to help fight cancer in a natural way. These drugs help activate the immune system and enables it to better identify and destroy cancer cells with limited side effects. Market key trends: Adoptive cell therapy is emerging as one of the fastest growing segments in the immuno-oncology drugs market. Adoptive cell therapy involves extracting immune cells from a patient's tumor and genetically modifying them to increase their cancer-fighting properties. These modified cells are then infused back into the patient to induce an anti-tumor immune response. Rising success of CAR T-cell therapies and ongoing research in developing new therapies are fueling growth of this promising segment. Segment Analysis The global immuno-oncology drugs market is segmented on the basis of therapy, application, end user and region. Based on therapy, the market is segmented into monoclonal antibodies, checkpoint inhibitors, immunotherapy, CAR-T therapy, and others. Among these, the checkpoint inhibitors segment dominated the market in 2022 and is expected to continue its dominance over the forecast period owing to rising adoption of this therapy for cancer treatment. Checkpoint inhibitors help boost the body's natural immune response against cancer and have demonstrated higher efficacy than traditional chemotherapy. Key Takeaways The Global Immuno-Oncology Drugs Market Size is expected to witness high growth, exhibiting a CAGR of 16% over the forecast period, due to increasing prevalence of cancer globally. Regional analysis North America dominated the global market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to the rising cancer burden, increasing healthcare expenditure, presence of key players, and growing adoption of innovative immuno-oncology therapies. Asia Pacific is expected to witness the fastest growth during the forecast period, rising at a CAGR of over 18%, owing to increasing awareness about advanced cancer treatment options and improving access to quality healthcare. Key players Key players operating in the immuno-oncology drugs market include AbbVie Inc., AstraZeneca, Bristol-Myers Squibb Company, Merck & Co., Inc., Novartis AG, Pfizer Inc., F. Hoffmann-La Roche Ltd., Sanofi, Ferring B.V., Enzo Biochem Inc., Celldex Therapeutics, Atara Biotherapeutics, Inc., Apexigen, BioNTech SE, Blueprint Medicines Corporation, Regeneron Pharmaceuticals Inc., CytomX Therapeutics, Inc., Agenus Inc., Betta Pharmaceuticals Co., Ltd., CStone Pharmaceuticals, Amgen Inc., MediMergent, LLC, Gilead Sciences, Inc., and ONKO-INNATE. Read more: https://www.ukwebwire.com/immuno-oncology-drugs-market-insights-trends/
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