Rising cases of cancer worldwide and increasing government initiatives to raise cancer awareness among the population are some of the key factors expected to drive Immunocytokines market revenue growth.
According to Emergen Research, the global immunocytokines market size was USD 2,890.2 million in 2020 and is expected to reach USD 4,078.5 million in 2028 and register a revenue CAGR of 4.3% during the forecast period, 2021-2028. Rising cases of cancer worldwide and increasing government initiatives to raise cancer awareness among the population are some of the key factors expected to drive Immunocytokines market revenue growth.
The rising utilisation of monoclonal antibodies and the rising demand for sophisticated diagnostic techniques for cancer diagnosis are some of the major factors propelling global revenue growth. Furthermore, the development of the global immunocytokines market is being significantly aided by recent developments in genetic sequencing technology. Monoclonal antibody development has undergone substantial research due to side effects of chemotherapy treatment. Major market competitors are also engaging in mergers and acquisitions in order to pool their data and create new medications and tumour detection diagnostic methods, which is anticipated to have a significant effect on the global market.
Market Dynamics:
The global immunocytokines market revenue growth is primarily attributed to factors such as surge in global geriatric population, rising cases of cancer across the globe, increasing awareness of early diagnosis and treatment of cancer among the population, and growing demand for advanced cancer diagnostics and therapeutics. As reported by the World Health Organization (WHO), nearly 9.6 million people around the world died of cancer in 2018.
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Increasing incidences of side-effects of chemotherapy (such as fatigue, hair loss, bleeding, and anemia), increasing research & development activities for monoclonal antibodies, growing use of these antibodies in treatment of cancer, and technological advances in genetic sequencing techniques are among the other major factors contributing to the global immunocytokines market revenue growth. Rise in government initiatives to raise cancer awareness among the population, rising focus of research and academic institutes on developing immunocytokines based on IL10, IL4, and TNF, and increasing government and private investments in the healthcare sector are factors that are expected to further drive the global market revenue growth over the forecast period.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Tumor and Cancer Segment Accounted for Largest Revenue Share in 2020:
The tumor and cancer segment dominated other segments in terms of revenue share in the global market in 2020. Revenue growth of this segment is majorly supported by factors such as increase in geriatric population, rising prevalence of different types of cancer, growing need for target-specific cancer diagnosis and treatment, and technological advances in tumor detection techniques.
Liver Segment to Account for Fastest Revenue CAGR:
The liver segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Rising global geriatric population, growing incidence of liver-related disorders, unhealthy lifestyle habits such as excessive alcohol consumption and increasing intake of fast food, rising cases of liver cancer, and growing use of advanced antibody-based drug delivery systems are factors expected to drive revenue growth of the segment going ahead.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America immunocytokines market accounted for the largest revenue share in the global market in 2020. Increasing prevalence of different cancer types, rising awareness of early cancer diagnosis and treatment, and rapid adoption of advanced cancer diagnostics and therapeutics are some key factors expected to contribute to revenue growth of the market in the region. In addition, growing use of advanced monoclonal antibodies in cancer treatment, increasing government initiatives to raise cancer awareness, and presence of leading market players in the region, including AstraZeneca Plc, CytImmune Sciences, and Valor Biotherapeutics, are some other key factors expected to support revenue growth of the North America market.
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Major Companies in the Global Immunocytokines Market Include:
- Alkermes Plc
- AstraZeneca Plc
- CytImmune Sciences
- Cytune Pharma
- Altor Bioscience Corporation
- Apeiron Biologics AG
- Paladin Labs
- Teva Pharmaceutical Industries Ltd.
- Valor Biotherapeutics
- Targa Therapeutics Corporation
For the purpose of this report, Emergen Research has segmented the global immunocytokines market on the basis of disease indication, targeting site, and region:
Disease Indication Outlook (Revenue, USD Million; 2018–2028)
- Tumor and Cancer
- Rheumatoid Arthritis
Targeting Site Outlook (Revenue, USD Million; 2018–2028)
- Liver
- Hypothalamus
- Fat Muscle
- B and T Lymphocytes
- Bone Marrow Endothelium
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Region Outlook (Revenue, USD Million; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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