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What Growth Rate is the Immuno-Oncology Drugs Market Anticipated to Experience from 2024-2033?

The market size for immuno-oncology drugs has experienced rapid growth in recent years. The market is projected to expand from $92.78 billion in 2023 to $105.64 billion in 2024, yielding a compound annual growth rate (CAGR) of 13.9%. The upsurge during the historical period can be linked to the increase in cancer cases, robust economic growth in developing markets, the hike in healthcare spending, and a surge in pharmaceutical research and development costs. However, the market faced constraints such as the high price of immuno-oncology treatments, limited access to healthcare, regulatory pricing pressures, soaring research and development expenses, and drug patent expirations.

The market size of immuno-oncology drugs is poised for impressive growth in the coming years, projecting to balloon to a value of $175.05 billion in 2028, with a compound annual growth rate (CAGR) of 13.5%. This anticipated expansion during the forecast period is primarily attributed to factors such as escalated investment in immuno-oncology, heightened emphasis on cancer treatment via immunotherapy drugs, innovations in products catalyzed by strategic collaborations, and the rise in the aging population. Key trends foreseen during the forecast period comprise the development of drugs based on microneedle injectors to enhance bioavailability and mitigate side effects associated with the subcutaneous route. Other industry inclinations are anticipated to include focusing on personalized oncology drugs to cater to unique patient requirements, potential acquisitions to broaden market share and diversify product portfolios, the emergence of next-generation biologics for escalated revenue and market share, and the development of antibody-drug conjugates for cancer medication production. Further investments in AI solutions can potentially curtail R&D costs and expedite development time, while the utilization of 3D printing devices for testing new oncology drugs, opting for combination therapies in immune-oncology to foster innovation and category leadership, and the adoption of CAR-T therapies to cultivate category leadership are additional market trends.

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What Are the Significant Influencers of Growth in the immuno-oncology drugs Market?

The escalating prevalence of cancer around the world is poised to stimulate the growth of the immuno-oncology drugs sector. In January 2022, the American Cancer Society forecasted that there will be an approximate 1.9 million new cancer cases and 609,360 deaths linked to cancer in the US, translating to roughly 1,670 deaths daily. Lung, prostate, bowel and female breast cancers are the predominant types globally and represent 43% of fresh cancer cases. Consequently, the surge in global cancer incidences is expected to enhance the demand for the immuno-oncology drugs market in the upcoming years.

What Key Segments Define the Immuno-Oncology Drugs Market?

1) By Type: Immune Checkpoint Inhibitors, Immune System Modulators, Other Monoclonal Antibodies, Cancer Vaccines, Others

2) By Therapeutic Application: Melanoma, Lung Cancer, Blood Cancer, Renal Cell Carcinoma, Bladder Cancer, Other Therapeutic Application

3) By End-Users: Hospitals, Clinics, Ambulatory Surgical Centers, Others

What Are the Key Developments Shaping the Immuno-Oncology Drugs Market?

Firms in the immuno-oncology drug sector are bolstering their product innovation via strategic alliances. With the aim to thrive in the increasingly competitive immuno-oncology drug sector, they are cultivating innovative items while also interchanging skills and knowledge with other firms. Collaborations with academic and research institutions have been common in this market, both through partnerships and licensing arrangements. However, there’s been a marked increase in this practice in recent years. For example, a partnership and licensing agreement was declared in September 2021 by Boehringer Ingelheim, a pharmaceutical firm from Germany, and OSE Immunotherapeutics, a French biotech firm, to create an innovative checkpoint inhibitor to treat advanced solid tumors.

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What Regions Are Driving Expansion in the Immuno-Oncology Drugs Market?

North America was the largest region in the immuno-oncology drugs market in 2023. The regions covered in the immuno-oncology drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Immuno-Oncology Drugs Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the immuno-oncology drugs market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Immuno-Oncology Drugs Market Include

1. Immuno-Oncology Drugs Market Executive Summary

2. Immuno-Oncology Drugs Market Segments

3. Immuno-Oncology Drugs Market Size And Template Market Growth Rate

4. Key Immuno-Oncology Drugs Market Trends

5. Major Immuno-Oncology Drugs Market Drivers

……

25. Key Mergers And Acquisitions In The Immuno-Oncology Drugs Market

26. Top Immuno-Oncology Drugs Companies

27. Immuno-Oncology Drugs Market Opportunities And Strategies

28. Immuno-Oncology Drugs Market, Conclusions And Recommendations

29. Appendix

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