The global immunotherapy drugs market is projected to reach USD 201.52 Billion by 2021 from USD 108.41 Billion in 2016, growing at a CAGR of 13.5% during the forecast period of 2016 to 2021.
Increasing adoption of targeted therapies with fewer side effects, quicker drug approval processes, and high prevalence rate of lifestyle diseases are major growth drivers of this market. On the other hand, the high cost of immunotherapy treatment, and high attrition rate in the product development cycle are the major factors hindering the growth of the market.
North America is expected to account for largest share in the immunotherapy drugs market, by region in 2016. Asia-Pacific is expected to be the fastest-growing regional segment in the market. The high growth of this segment can primarily be attributed to the low cost of manufacturing and acceptable regulatory scenario in this region.
The major players operating in the immunotherapy drugs market include F. Hoffmann-La Roche AG (Switzerland), GlaxoSmithKline (U.K.), AbbVie, Inc. (U.S.), Amgen, Inc. (U.S.), Merck & Co., Inc. (U.S.). Bristol-Myers Squibb (U.S.), Novartis International AG (Switzerland), Eli Lilly and Company (U.S.), Johnson & Johnson (U.S.), and AstraZeneca plc (U.K.).
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