Immunotherapy Drugs Market Size

Immunotherapy Drugs Market Size

Immunotherapy Drugs Market size was valued at USD 182.5 billion in 2023 and is expected to exhibit growth at a CAGR of 10.4% from 2024 and 2032. Immunotherapy drugs are a class of pharmaceutical compounds designed to modulate the body's immune system to treat diseases.

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These drugs can be categorized into various types based on their mechanisms of action, including monoclonal antibodies, immune checkpoint inhibitors, cytokines, vaccines, adoptive cell therapies, and other immunomodulators. High market growth can be attributed to the ongoing advancements in biotechnology, increasing incidence and prevalence of cancer, rising healthcare expenditure, and expanding adoption of combination therapies, among other contributing factors.

Moreover, chronic diseases such as cancer, autoimmune disorders, and infectious diseases are becoming increasingly prevalent globally. Cancer, in particular, is a leading cause of morbidity and mortality worldwide. For instance, according to American Cancer Society, Inc. over 1.9 million new cancer cases were expected to be diagnosed in the U.S. in 2023. As the incidence of these diseases rises, there is a growing demand for effective treatment options that offer improved outcomes and fewer adverse effects, driving the growth of the immunotherapy drugs market.

Furthermore, immunotherapy drugs are not limited to oncology but are increasingly being explored and adopted across a wide range of disease areas, including autoimmune diseases, infectious diseases, allergies, and transplant rejection. This diversification of applications broadens the market opportunities for immunotherapy drugs and expands their reach to address unmet medical needs in different patient populations.