Immune Checkpoint Inhibitors Market Surges as Breakthrough Cancer Treatments Gain Momentum

PORTLAND, OREGON, UNITED STATES, April 17, 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. 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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Impact of Recession on Immune Checkpoint Inhibitors Market

During economic recessions, the healthcare sector often faces challenges due to reduced investments in technology and healthcare infrastructure. However, the immune checkpoint inhibitors market might see resilience due to the increasing prevalence of cancer cases and a focus on effective cancer management.

PD-1 Inhibitor Segment Continues to Lead

The PD-1 inhibitor segment was the dominant force in 2022, capturing nearly three-fourths of the global immune checkpoint inhibitors market. With a projected CAGR of 17.2% during the forecast period, the segment's growth is driven by its effectiveness in treating melanoma, lung, and bladder cancers. Expanded approvals and ongoing clinical trials exploring combination therapies further bolster the segment's growth potential.

Lung Cancer Segment Maintains Growth Momentum

The lung cancer segment held a significant share in 2022, accounting for one-third of the global market. Projected to grow at a CAGR of 17.7% during the forecast period, this growth is attributed to the rising prevalence of lung cancer cases globally and the increasing adoption of PD-1/PD-L1 inhibitors for improved survival rates. Ongoing research on combination therapies and expanding indications also contribute to the segment's growth.

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North America to Retain Market Dominance, Asia-Pacific Shows Rapid Growth

North America dominated the market in 2022, accounting for over three-fifths of the market revenue. This dominance can be attributed to the region's robust healthcare infrastructure, advanced research capabilities, and favorable regulatory policies. Meanwhile, the Asia-Pacific region is projected to witness the highest CAGR of 18.8% during the forecast period due to increasing cancer cases and advancements in healthcare infrastructure.

Key Players in the Immune Checkpoint Inhibitors Market

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.

These leading players have employed various strategies like acquisitions, collaborations, clinical trials, and product development to enhance their market presence and maintain dominance across regions. The report offers insights into their business performance, product portfolio, and strategic initiatives to understand the competitive landscape better.

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David Correa
Allied Market Research
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