Immune Checkpoint Inhibitors Market is projected to reach $189.4 billion by 2032

PORTLAND, DE, UNITED STATES, November 5, 2024 /EINPresswire.com/ -- According to the report, the global immune checkpoint inhibitors market was valued at $40.1 billion in 2022, and is projected to reach $189.3 billion by 2032, registering a CAGR of 16.8% from 2023 to 2032.

Rise in incidence of cancer across the world, surge in global geriatric population, and supportive reimbursement policies for immune checkpoint inhibitors drive the growth of the global immune checkpoint inhibitors market. On the other hand, high cost of immune checkpoint inhibitors impedes the growth to some extent. However, an increase in the number of pipeline drugs is expected to create lucrative opportunities in the industry.

Growing healthcare infrastructure, rise in prevalence of cancer conditions that require effective treatment and growing awareness regarding the use of immune checkpoint inhibitors are the factors that drive the growth of the global immune checkpoint inhibitors market. However, high cost of the inhibitors hinder market growth. On the contrary, a rise in healthcare expansion is expected to offer remunerative opportunities for the immune checkpoint inhibitors market during the forecast period.

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Immune checkpoint inhibitors are a class of medications revolutionizing cancer treatment by leveraging the body's immune system to fight cancer. These drugs work by blocking specific proteins on immune cells or cancer cells, known as checkpoints, which regulate the immune response. By inhibiting these checkpoints, immune checkpoint inhibitors help the immune system recognize and attack cancer cells more effectively. Immune checkpoint inhibitors have transformed cancer therapy, providing a promising approach for treating different cancers and improving patient outcomes.

The rise in cancer cases and the growing demand for effective treatment are anticipated to potentially drive the market growth. In addition, the growing initiatives in research and development of novel treatments and the rise in approvals from regulatory authorities are further driving the immune checkpoint inhibitors market growth.

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Recession Scenario

During a recession, the impact on the healthcare industry, including immune checkpoint inhibitors, can be significant.

The economic downturns may hinder technology investment. However, the growing number of cancer cases and the rising focus on effective management can drive interest in immune checkpoint inhibitors.

The PD-1 inhibitor segment to maintain its lead position during the forecast period:

Based on type, the PD-1 inhibitor segment dominated the market in 2022, accounting for almost three-fourths of the global immune checkpoint inhibitors market, and is expected to register highest CAGR of 17.2% during the forecast period owing to rise in adoption of PD-1 inhibitors in various cancers, including melanoma, lung, and bladder cancers, owing to their superior efficacy and durable responses in treating cancers. In addition, expanded approvals of PD-1 inhibitors across multiple cancer types & stages have widened their market presence along with increasing ongoing clinical trials exploring PD-1 inhibitors in combination therapies with other treatments have reinforced their effectiveness, thereby driving the segment growth.

The lung cancer segment to maintain its lead position during the forecast period.

Based on application, the lung cancer segment dominated the market in 2022, accounting one-third of the global immune checkpoint inhibitors market and is expected to register highest CAGR of 17.7% during the forecast period. this is attributed to rise in prevalence of lung cancer cases globally, adoption of PD-1/PD-L1 inhibitors in treating lung cancers owing to improved survival rates, and ongoing research focusing on combination therapies & expanding indications for these inhibitors in lung cancer treatment.

North America maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than three-fifths of the global immune checkpoint inhibitors market revenue the region’s robust healthcare infrastructure and advanced research capabilities, which facilitate early adoption and extensive utilization of innovative therapies, including immune checkpoint inhibitors. In addition, well-established clinical trials and research initiatives focusing on immune checkpoint inhibitors in various cancers, coupled with favorable regulatory policies is anticipated to fuel the market growth. However, the Asia-Pacific segment is projected to register highest CAGR of 18.8% during the forecast period owing to prevailing cancer cases and growing development in healthcare infrastructure with rise in adoption and demand for immune checkpoint inhibitors, thereby driving the growth of the market during the forecast period.

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Leading Market Players: -

Merck And Co., Inc.
Astrazeneca Plc
F. Hoffmann-La Roche Ltd.
Merck KGaA
Regeneron Pharmaceuticals, Inc.
Bristol-Myers Squibb Company
Beigene, Ltd.
Shanghai Junshi Biosciences Co., Ltd.
Glaxosmithkline Plc
Innovent Biologics, Inc

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