Technavio analysts forecast the global immune checkpoint inhibitors market to grow at a CAGR of more than 19% by 2023. (Graphic: Business Wire)
Technavio analysts forecast the global immune checkpoint inhibitors market to grow at a CAGR of more than 19% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
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Technavio analysts forecast the global immune checkpoint inhibitors market to grow at a CAGR of more than 19% by 2023. (Graphic: Business Wire)
Strategic alliances are one of the major trends being witnessed in the global immune checkpoint inhibitors market 2019-2023. The rise in prevalence of various types of cancers increases the demand for innovative therapeutics. Immune checkpoints inhibitor therapeutics is one of the most reliable therapeutic options for the treatment of cancer. This is the reason why many companies are associating for developing and marketing these drugs. Such strategic alliances and partnerships help to reach out a larger geographical area and result in higher ROI. Thus, the vendors in the global immune checkpoint inhibitors market are expected to continue exploring strategic ways to tap significant opportunity, thereby driving the market growth.
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According to Technavio analysts, one of the key factors contributing to the growth of the global immune checkpoint inhibitors market is the high target affinity and specificity:
Global immune checkpoint inhibitors market: High target affinity and specificity
Despite the availability of various approved therapies, the treatment landscape for advanced cancer is not adequate in terms of drug responsiveness. Most of the available therapies have severe side effects, which reduce the patient compliance towards the treatment. Immune checkpoint inhibitors are a type of drugs that work directly on the target, their efficacy is higher than that of the other conventional treatments such as chemotherapy. This target specific MoA is making this drug class a favorite among both medical practitioners as well as patients, thereby driving the market growth.
According to a senior analyst at Technavio, “the phase III PACIFIC trial of durvalumab in patients with locally advanced, unresectable stage III NSCLC showed the progression-free survival of 11 months compared with placebo. Similarly, in phase III KEYNOTE-042 trial of pembrolizumab met the primary endpoint of overall survival compared with chemotherapy for patients with locally advanced NSCLC. Furthermore, based on phase III KEYNOTE-042 positive data, the US FDA accepted sBLA for pembrolizumab monotherapy in the first-line treatment of locally advanced NSCLC. Such strong clinical evidence will help in the quicker launch of these target specific molecules during the forecast period, which would further add to the global market growth.”
Global immune checkpoint inhibitors market: Segmentation analysis
The global immune checkpoint inhibitors market research report provides market segmentation by type (PD-1 inhibitors, CTLA-4 inhibitors, and others) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for more than 49% share. It was followed by EMEA and APAC respectively. The Americas holds the highest market share majorly due to the high prevalence rate of cancer in the US and Canada owing to changing lifestyle.
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Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation
Geographical Segmentation
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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