Market Trends of Next-Generation Immunology Drugs Industry
This section covers the major market trends shaping the Next-Generation Immunology Drugs Market according to our research experts:
Cancer is Expected to Witness Significant Growth Over the Forecast Period
The increasing burden of cancer across the globe coupled with the growing research on novel therapies for cancer treatment are expected to fuel the segment's growth. Immunotherapies come in a variety of forms and are used to treat cancer. Immune checkpoint inhibitors, T-cell cell therapy, cancer vaccines, and immune system modulators are a few examples of immunotherapies. Several cancer types and their later stages are treated with these medicines. Rituxan, Yervoy, Adcetris, and Zevalin are a few of the widely used immunotherapy medications.
New drug launches are accelerating segment growth. For instance, in December 2022, the US FDA granted approval to adagrasib (Krazati, Mirati Therapeutics, Inc.), a RAS GTPase family inhibitor, for adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC). Additionally, in April 2022, the US FDA approved a combination of two immunotherapy drugs for the treatment of some people with advanced melanoma. The combination consists of relatlimab and nivolumab (Opdivo) and will be marketed under the name Opdualag. With the launch of such immunology drugs for cancer treatment, the segment is believed to witness significant growth over the forecast period.
Furthermore, one of the major concerns is the rising global cancer burden. Key countries like the United States, Canada, the United Kingdom, and India are experiencing the burden of the disease. For instance, as per the data from the Canadian Cancer Statistics report published in February 2022, it was found that there were 233,900 people expected to be diagnosed with cancer in the year 2022. The report further stated that breast, prostate, and colorectal cancers are the most prevalent cancers. Combined, they account for almost half of all prevalent cases. With the high number of cancer cases in countries like Canada, there is an increasing amount of research for the development of new drugs, which is boosting the segment's growth.
North America to Hold the Largest Market Share Over the Forecast Period
North America is one of the crucial markets for next-generation immunology drugs. In this region, the United States is expected to hold a major share due to its highly developed pharmaceutical R&D sector and the presence of key companies operating in the market studied.
The increasing number of cancer cases is creating tremendous opportunities for market players. The major market players are focusing on R&D activities to launch new and reliable treatments in the market. For instance, in March 2021, the United States Food and Drug Administration approved Bristol-Myers Squibb and Bluebird Bio's Abecma (idecabtagene vicleucel). Abecma is a genetically engineered autologous T cell immunotherapy directed to target the B-cell maturation antigen (BCMA) to treat adult patients with relapsed or refractory multiple myeloma. The rising product launches by the players in the United States lead to further adoption and are thereby expected to propel the market growth in this region.
Additionally, new product launches in the area of next-generation drugs are propelling market growth. For instance, in May 2022, Novartis announced the US FDA's approval of Kymriah (tisagenlecleucel) for the treatment of adult patients with relapsed or refractory (r/r) follicular lymphoma (FL) after two or more lines of systemic therapy. Additionally, in April 2022, Kite Pharma Inc. received product approval from the US FDA for its axicabtagene ciloleucel (Yescarta) for adult patients with large B-cell lymphoma (LBCL). As a result of the numerous new product launches, the United States is expected to experience significant growth during the forecast period.
