2028 Immuno-Oncology Market Report Puts Limelight on Market Size, Share, Growth Opportunities, Factors and Trends Influencing the Industry | Xcellent Insights

Pune, Feb. 07, 2023 (GLOBE NEWSWIRE) — The global Immuno-Oncology Market Size was USD 43698.02 million in 2021 and is expected to register a robust revenue CAGR of 15.05% during the forecast period. Key factors such as rising prevalence of various cancer types, rapid advancements in cancer treatment, and growing adoption of targeted therapy are expected to drive global market growth between 2023 and 2028.

Over years, there has been a rapid increase in the prevalence of various types of cancers including brain tumors, breast cancer, lung cancer, myeloma, cervical cancer, leukemia, and pancreatic cancer among others. Several research and healthcare centers, and pharmaceutical companies are focused on developing advanced technology for treating cancer. One of the trending and widely used cancer treatments is immuno-oncology (IO). IO therapies are novel types of cancer therapies in which an individual’s immune system is used to prevent, control, and eliminate the illness. Immuno-oncology comes in a variety of forms including cancer vaccines, tumor-infecting viruses, targeted antibodies, checkpoint inhibitors, adjuvants, and cytokines. Some immunotherapy treatments help the immune system to slow or halt the growth of cancer cells, while some help to destroy cancer cells and stop them from spreading to other body parts.

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Factors such as increasing demand for personalized medicine, improving healthcare infrastructure, rising healthcare spending capacity, favorable government initiatives and support to promote cancer care, and increasing investments for developing novel and innovative drugs for immunotherapy are expected to drive global market growth going ahead.

However, rising product recalls by regulatory authorities such as US FDA, high cost of immuno-oncology treatment and drugs, low consumer awareness, and dearth of skilled healthcare professionals in many developing economies are expected to hamper overall market growth during the forecast period.

Immuno-oncology Industry Recent Developments:

• In Taconic Biosciences announced the expansion of its premium immune-oncology portfolio with the launch of new immune-oncology mouse model, B2m-NOG mouse model.
• In December 2021, Sanofi announced acquisition of Amunix Pharmaceuticals, Inc. a leading immune-oncology company leveraging its proprietary Amunix immune-oncology pipeline with next generation Conditionally Activated Biologics.

Cancer Vaccines Segment To Register Rapid Revenue CAGR:

The cancer vaccines segment is expected to register rapid revenue CAGR over the forecast period owing to increasing prevalence of various cancer types, growing adoption of treatment vaccines, increasing preference for personalized medicine rising number of clinical trials, and ongoing research on cancer vaccines.

Drugstores Segment to Account for Largest Revenue Share:

The drugstores segment is expected to account for largest revenue share during the forecast period owing to growing awareness about immunotherapy, increasing availability of immuno-oncology drugs at several drugstores, and rising number of hospital pharmacies and drugstores worldwide.

North America to Lead In Terms of Revenue Share:

North America is expected to account for largest revenue share during the forecast period owing to increasing prevalence of various types of cancer, presence of well-developed healthcare infrastructure and research facilities, rapid advancements in cancer therapy and drugs, and growing awareness about benefits of immune-oncology therapy. Other factors such as rising spending capacity, rising investments in developing advanced drugs and treatment for immuno-oncology, and presence of robust key players are expected to drive North America market growth between 2023 and 2028.

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List of key Companies Operating in The Market:

• Bristol-Myers Squibb
• Merck and Co. Inc.
• Roche AG
• AstraZeneca, Plc
• Sanofi S.A
• Dendreon Pharmaceuticals
• Novartis
• Gilead Sciences Inc.
• Merck KGaA

The global immuno-oncology market has been segmented based on type, application, and region:

Immuno-oncology Market Segment by Type:

• Immune Checkpoint Inhibitors
• Cytokine-based Immunotherapy
• Cancer Vaccines
• CAR-T cell Therapy
• Others

Immuno-oncology Market Segment by Application:

• Hospitals
• Drugstores
• Others

Immuno-oncology Market Segment by Region:

• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South Columbia)
• Middle East & Africa (Saudi Arabia, U.A.E, Egypt, Nigeria, South Africa, Rest of MEA)

Key Reasons to Purchase:

• Estimates 2023 to 2028 immuno-oncology market current market trends and development trends
• Market dynamics along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the immuno-oncology market
• Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
• Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
• Brief about impact of COVID-19 on the global Immuno-oncology market

Key Questions Addressed:

• What revenue CAGR is the global market expected to register during the forecast period?
• Which key players are leading in the global immuno-oncology market?
• What is the expected market size of the global immuno-oncology market between 2023 and 2028?
• What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
• What are some of the key challenges that the global market is expected to face during the forecast period?
• Which region is expected to account for largest revenue share over the forecast period?

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