The Immuno-oncology market will attend a 12% CAGR, reaching $ XX million between 2020. With medical IoT involving the use of portable monitors, devices and various integrated applications regarding healthcare needs, the healthcare vertical industry is expected to reach new heights over the coming period. This is what the health care vertical would be in the next 10 years.
Immuno-oncology therapy has shown excellent results in various clinical trials and in patients treated with immuno-oncology therapy. Immuno-oncology therapies can take advantage of patients’ immune systems and reprogram them to attack cancer cells, providing a safe and effective alternative.
There has been a growing demand for immuno-oncology therapy because several traditional methods used in cancer treatment such as chemotherapy, radiation therapy and surgery etc. carry a risk of side effects and have limited effectiveness because they tend to harm healthy cells present in the vicinity of the tumor microenvironment.
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- Amgen, Inc.
- AstraZeneca Plc
- Bristol-Myers Squibb Company
- Hoffmann-La Roche Ltée.
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
Global sales of products used in immuno-oncology therapy are expected to reach around US $ 10 billion in revenue by the end of 2019, new research study from Persistence Market Research (PMR) reveals.
According to the report, the immuno-oncology market is expected to grow approximately 12% year-over-year by the end of 2020, primarily influenced by recent advancements in the immuno-oncology market. Immune checkpoint inhibitors are the most widely used immuno-oncology therapy for the treatment of lung cancer and account for approximately 88% of the immuno-oncology market.
Increase clinical developments to stimulate demand for immuno-oncology therapy
Currently, the number of ongoing studies on the clinical development of immuno-oncology therapy is almost evenly distributed between the early and late phases.
However, the number of early phase studies in immuno-oncology is increasing rapidly. The strong emphasis on identifying new pathways for immune regulation in tumors is driving the development of NMEs (new molecular entities), which are making their way into clinics.
High attrition rates during clinical development mean that fewer candidates enter later stages of development. The companies are also seeking regulatory approvals for combination therapies with existing immuno-oncology drugs as well as for multiple indications, resulting in a large number of programs in the early stages of development. This is leading to the overall growth of the Immuno-Oncology market globally.
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Partnerships and collaborations to strengthen technical expertise
Companies are looking for licensing agreements, partnerships and collaborations to strengthen their technical expertise and expand their product portfolios. In order to stay competitive, Immuno-Oncology market players are trying to identify and collaborate with small companies operating in Immuno-Oncology market to grow their business globally.
This strategy of market players is expected to fuel the growth of the Immuno-Oncology market during the forecast period.
Combination Therapies Versus Monotherapy To Drive Growth In Immuno-Oncology Market
Combination strategies using immunotherapy with radio, targeted antibodies, chemo, cryotherapy or with other immuno-oncologic therapies are likely to broaden the potential indications of various drugs. These combination therapies are believed to dramatically improve patient survival rates, as shown by limited clinical data compared to monotherapy.
Various companies have identified that multiple pathways are affected in tumor regulation, therefore seek to use combination therapy as a more effective method. These combination therapies are expected to contribute to the growth of the immuno-oncology market.
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Immune Resistance Mechanisms Limiting Market Growth
It is desirable to maintain the prolonged effects of immuno-oncology therapies because there is a great possibility of developing immune resistance, which can degrade the duration of effectiveness of the drug. In addition, it is hardly feasible to develop a single therapy that works equally well in all types of patient populations.
Whereas different pathways are affected in different patients, resulting in limited efficacy for some patients whose immune system is regulated differently. According to PMR’s analysis, this is hindering the growth of the immuno-oncology market.
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