Press release
Immuno-Oncology Market Trends: Heading Towards $111.64 Billion by 2034
According to estimates, the worldwide Immuno-Oncology Industry would be worth US$24.17 billion by 2024. Through 2034, the market is expected to expand at a strong rate, with a CAGR of 16.5%. By 2034, the market for immuno-oncology is expected to be valued at US$111.64 billion. Immuno-oncology is becoming more and more in demand due to the rising incidence of cancer, just as other oncology-related fields. The use of immuno-oncology is further required because of the significant increase in cigarette smokers, genetic illnesses, excessive sun exposure, and changing dietary habits as primary causes of cancer growth. The therapy's efficacy is an additional selling point for the industry.
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Immuno-oncology is a dynamic field, and newer modes of treatment and drugs keep the product line fresh. Significant sums of money and time are devoted to research and development for the introduction of new drugs. As governments all over the world look to curb death rates due to cancer, there is encouragement for the development of novel products from public health institutions.
As part of a more positive outlook towards immuno-oncology, regulatory bodies are approving newer products at a frequent pace. As companies in the market rely on approval from regulatory bodies like the United States Food and Drug Administration (FDA) to get their products moving, this positive tendency is a boon for the market.
"Doctors often use immuno-oncology in combination with other cancer treatments. Immuno-oncology's boosting of the immune system is paired up with other effective treatments to battle cancer cells. Thus, the market is growing in conjunction with other oncological markets," says a Fact.MR analyst.
Key Takeaways from the Market Study
The global immuno-oncology market is projected to expand at a CAGR of 16.5% through 2034.
The East Asia immuno-oncology market is expected to evolve at a CAGR of 15.2% through the forecast period.
The immuno-oncology industry is expected to register a CAGR of 15.2% in China over the forecast period.
The immuno-oncology industry in Japan is expected to rise at a CAGR of 15.5% through 2034.
Based on therapy type, immune checkpoint inhibitors lead the market, with an expected market share of 86.3% in 2024.
Companies are Pairing Together to Combine Technological Capabilities in the Pursuit of More Effective Products
The market is fertile ground for the inking of partnerships, sometimes even between direct competitors. Startups and established giants alike are taking the opportunities provided by collaboration.
Key Companies Profiled in This Report
Bristol Myers Squibb Company
Novartis AG
F. Hoffmann-LA Roche Ltd.
Merck & Co., Inc.
GSK Plc.
Eli Lilly and Company
Fresenius Kabi AG
Pfizer Inc.
AbbVie Inc.
Genentech Inc.
Sanofi
AstraZeneca
Some recent developments in the market are:
In December 2023, Elpiscience Biopharma joined forces with Astellas Pharma for research programs on cancer treatment.
In September 2023, GI Innovation partnered up with Medidata Solutions for the development of two new drugs- GI-101 and GI 102.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9418
Country-wise Insights:
The healthcare industry is rapidly developing in East Asia. The expanding healthcare industry in the area is helping the immuno-oncology market as well. East Asia's market is projected to be worth US$ 3.01 billion in 2024, with a 12.5% market share. East Asia's market is anticipated to grow at a fascinating rate between 2024 and 2034, with a compound annual growth rate of 15.2%. East Asia's market value is expected to increase to US$12.37 billion by 2034, representing an 11.1% market share.
Globally, the immuno-oncology market is dominated by North America. North America is anticipated to be a thriving location for the immuno-oncology business, despite projections that its proportion of the worldwide market will decline during the forecast period. North America's market share is expected to reach 71.0% in 2024, with a projected market value of US$ 17.16 billion. For the duration of the forecast period, North America's market is anticipated to grow at an astounding 13.9% CAGR. It is projected that North America's market value will soar to US$ 62.97 billion by 2034, with a 56.4% market share.
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Get Free Sample Copy of This Report:
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Immuno-oncology is a dynamic field, and newer modes of treatment and drugs keep the product line fresh. Significant sums of money and time are devoted to research and development for the introduction of new drugs. As governments all over the world look to curb death rates due to cancer, there is encouragement for the development of novel products from public health institutions.
As part of a more positive outlook towards immuno-oncology, regulatory bodies are approving newer products at a frequent pace. As companies in the market rely on approval from regulatory bodies like the United States Food and Drug Administration (FDA) to get their products moving, this positive tendency is a boon for the market.
"Doctors often use immuno-oncology in combination with other cancer treatments. Immuno-oncology's boosting of the immune system is paired up with other effective treatments to battle cancer cells. Thus, the market is growing in conjunction with other oncological markets," says a Fact.MR analyst.
Key Takeaways from the Market Study
The global immuno-oncology market is projected to expand at a CAGR of 16.5% through 2034.
The East Asia immuno-oncology market is expected to evolve at a CAGR of 15.2% through the forecast period.
The immuno-oncology industry is expected to register a CAGR of 15.2% in China over the forecast period.
The immuno-oncology industry in Japan is expected to rise at a CAGR of 15.5% through 2034.
Based on therapy type, immune checkpoint inhibitors lead the market, with an expected market share of 86.3% in 2024.
Companies are Pairing Together to Combine Technological Capabilities in the Pursuit of More Effective Products
The market is fertile ground for the inking of partnerships, sometimes even between direct competitors. Startups and established giants alike are taking the opportunities provided by collaboration.
Key Companies Profiled in This Report
Bristol Myers Squibb Company
Novartis AG
F. Hoffmann-LA Roche Ltd.
Merck & Co., Inc.
GSK Plc.
Eli Lilly and Company
Fresenius Kabi AG
Pfizer Inc.
AbbVie Inc.
Genentech Inc.
Sanofi
AstraZeneca
Some recent developments in the market are:
In December 2023, Elpiscience Biopharma joined forces with Astellas Pharma for research programs on cancer treatment.
In September 2023, GI Innovation partnered up with Medidata Solutions for the development of two new drugs- GI-101 and GI 102.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9418
Country-wise Insights:
The healthcare industry is rapidly developing in East Asia. The expanding healthcare industry in the area is helping the immuno-oncology market as well. East Asia's market is projected to be worth US$ 3.01 billion in 2024, with a 12.5% market share. East Asia's market is anticipated to grow at a fascinating rate between 2024 and 2034, with a compound annual growth rate of 15.2%. East Asia's market value is expected to increase to US$12.37 billion by 2034, representing an 11.1% market share.
Globally, the immuno-oncology market is dominated by North America. North America is anticipated to be a thriving location for the immuno-oncology business, despite projections that its proportion of the worldwide market will decline during the forecast period. North America's market share is expected to reach 71.0% in 2024, with a projected market value of US$ 17.16 billion. For the duration of the forecast period, North America's market is anticipated to grow at an astounding 13.9% CAGR. It is projected that North America's market value will soar to US$ 62.97 billion by 2034, with a 56.4% market share.
Explore More Related Studies Published by Fact.MR Research:
Brain Implants Market:
https://www.factmr.com/report/brain-implant-market
Manual Resuscitators Market:
https://www.factmr.com/report/manual-resuscitators-market
Oxygen Therapy Equipment Market:
https://www.factmr.com/report/oxygen-therapy-equipment-market
Orthopedic Navigation Systems Market:
https://www.factmr.com/report/orthopedic-navigation-systems-market
𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com
𝐀𝐛𝐨𝐮𝐭 𝐅𝐚𝐜𝐭.𝐌𝐑
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.
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