The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s immuno-oncology drugs market report forecasts the immuno-oncology drugs market size to grow to $136.15 Billion by 2027, with a CAGR (compound annual growth rate) of more than 13%.

Learn More On The Immuno-Oncology Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/immuno-oncology-drug-global-market-report

Immuno-Oncology Drugs Market Size Forecast
The global immuno-oncology drugs market is expected to grow from $70.59 billion in 2022 to $81.46 billion in 2023 at a compound annual growth rate (CAGR) of 15.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The immuno-oncology drugs market is expected to grow from $136.15 billion in 2027 at a CAGR of 13.7%.

North America held the largest immuno-oncology drugs market share.

Key Immuno-Oncology Drugs Market Driver ­– Rise In The Number Of Cancer Cases Globally
For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of new cancer cases. Therefore, the rise in cancer incidence rates globally is anticipated to boost demand for the immune-oncology drugs market over the coming years.

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Key Immuno-Oncology Drugs Market Trend – Increasing Their Product Innovation Through Strategic Collaborations
Companies in the immuno-oncology drug market are increasing their product innovation through strategic collaborations. To sustain themselves in the increasingly competitive immuno-oncology drug market, companies are developing innovative products as well as sharing skills and expertise with other companies. While companies have long collaborated with academic and research institutions in this market by way of partnerships and in- or out-licensing deals, this trend has been increasing over the past few years. For instance, in September 2020, AbbVie, Inc., a US based biopharmaceutical company specialising in drug discovery, research, and development, announced its research collaboration with I-Mab Biopharma Co. Ltd., a China based biopharmaceutical company pioneering in the discovery, development, and commercialization of biological drugs for immunology. Through this collaboration, both companies focus on the development of Lemzoparlimab (also known as TJC4), a cutting-edge anti-CD47 monoclonal antibody that I-Mab internally discovered and developed for the treatment of various cancers. The agreement covers its development and commercialization. The two partners may also decide to collaborate on further breakthrough cures in the future.

Immuno-Oncology Drugs Market Segment
1) By Type: Monoclonal Antibodies, Immune Checkpoint Inhibitors, Immune System Modulators, Cancer Vaccines, Other Types
2) By Therapeutic Application: Melanoma, Lung Cancer, Blood Cancer, Renal Cell Carcinoma, Prostate Cancer, Bladder Cancer, Other Therapeutic Applications
3) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Cancer Research Institutes

Immuno-Oncology Drugs Market Major Players and Strategies
Major players in the immuno-oncology drugs market are Amgen Inc., AstraZeneca PLC., Bristol-Myers Squibb, Celgene Corporation, Eli Lilly and Company, Merck & Co., F. Hoffmann-La Roche AG, Johnson & Johnson, Novartis International AG, and AbbVie Inc.

In December 2021, Sanofi S.A., a France-based biopharmaceutical and healthcare company, acquired Amunix Pharmaceuticals, Inc., for an amount of $1 billion. Through this acquisition, Sanofi increases its capabilities in the development of innovative medicines for cancer patients, in research and drug discovery of immune-oncology therapeutic candidates, brings these potentially superior and safer treatment candidates to patients by utilising its expertise and working as a centre of excellence together, and increases its oncology pipeline. Amunix Pharmaceuticals, Inc., is a US-based biopharmaceutical company specialising in the discovery and development of novel immuno-oncology drugs.

The Immuno-Oncology Drugs Global Market Report 2023 covers regional data on immuno-oncology drugs market size, immuno-oncology drugs market trends and drivers, opportunities, strategies, and immuno-oncology drugs market competitor analysis. The countries covered in the immuno-oncology drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Immuno-oncology drugs refer to a therapy or cancer treatment that employs drugs to either boost or suppress the immune system in order to aid the body’s defences against cancer, infection, and other disorders. It makes use of chemicals produced by the body or in a lab to strengthen the immune system and assist the body in locating and eliminating cancer cells.

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