The Business Research Company’s Immuno-Oncology Drugs Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, April 21, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Companies in the oncology immunotherapy drugs market are increasing their product innovation through strategic collaborations. To sustain in the increasingly competitive immuno-oncology drugs market, companies are developing innovative products as well as sharing skills and expertise with other companies. While companies have long collaborated with each other as well as with academic and research institutions in this market by way of partnerships, and in- or out-licensing deals, this trend has been increasing over the recent years. In 2019, Takeda announced its decision to accelerate the discovery of next-generation cancer immunotherapies, through collaborations. The company will collaborate with Memorial Sloan Kettering Cancer Center (MSK) to discover and develop novel chimeric antigen receptor T-cell (CAR-T) products for the treatment of multiple myeloma, acute myeloid leukemia and additional solid tumor indications.
Other immuno-oncology drugs market trends are mergers and acquisitions among players in the industry. In December 2019, Sanofi, a Paris-based biopharmaceutical company, acquired Synthorx, Inc. for $2.5 billion. This acquisition is expected to allow Sanofi to gain access to Synthorx's immuno-oncology drug candidate IL-2 therapeutics for solid tumors along with its expanded genetic alphabet platform. This builds a portfolio of high-quality assets for Sanofi to lead with innovation in the oncology market. Synthorx, Inc. is a US-based clinical-stage biotechnology company focused on cancer and autoimmune disorders.
Major players in the immuno-oncology drugs market are Amgen, Inc., AstraZeneca Plc, Bristol-Myers Squibb, Celgene Corporation, Eli Lilly and Company, Merck & Co., F. Hoffmann-La Roche AG, Johnson & Johnson, Novartis International AG, and AbbVie Inc.
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The global immuno-oncology drugs market size is expected to grow from $57.28 billion in 2020 to $62.99 billion in 2021 at a compound annual growth rate (CAGR) of 10%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The immuno-oncology drugs market is expected to reach $92.97 billion in 2025 at a CAGR of 10%.
The immuno-oncology drugs market covered in the report is segmented by type into monoclonal antibodies, immune checkpoint inhibitors, immune system modulators, cancer vaccines, others; by therapeutic application into melanoma, lung cancer, blood cancer, renal cell carcinoma, prostate cancer, bladder cancer, others; by end-user into hospitals, clinics, ambulatory surgical centers, cancer research institutes.
Immuno-Oncology Drugs Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides immuno-oncology drugs global market overview, forecast immuno-oncology drugs global market size and growth for the whole market, immuno-oncology drugs global market segments, and geographies, immuno-oncology drugs global market trends, immuno-oncology drugs global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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