Immunotherapy Drugs Project 18% CAGR

Global immunotherapy market size may reach 1 trillion by 2032
Vaccines 2024
Vision Research Reports March 2024
Ottawa (Precision Vaccinations News)

People have been fighting disease since the dawn of time by leveraging whichever solutions were available. In the field of virology, innovative technologies have produced life-saving products for the treatment and prevention of disease.

Over the years, scientific discoveries have propelled the creation of sub-markets such as vaccines, monoclonal antibody therapy, and immunotherapy.

These innovations have empowered the human immune system and positively impacted human health.

Specifically, immunotherapy drugs work by harnessing the body's immune system to fight diseases.

According to new research, the global immunotherapy drugs market size may reach 1 trillion in annual revenues.

Vision Research Reports reported on March 22, 2024, the global immunotherapy drugs market size is projected to hit around $1,063.44 billion by 2032, growing at a CAGR of 18.03% from 2023 to 2032.

    Significant factors contributing to this growth rate include increased awareness about chronic diseases, including cancer, autoimmune diseases, inflammatory diseases, and infectious diseases, coupled with supportive government policies for drug approval.

    Furthermore, the rising adoption of targeted therapies for chronic disease treatment is expected to increase the inclination toward immunotherapy drugs, driving the industry during the forecast period.

    Highlights from this report include:

    • The vaccines segment is expected to register the fastest CAGR during the forecast period.
    • North America dominated the global industry in 2022 and accounted for the largest share of more than 44.98% of the overall revenue.
    • The monoclonal antibodies segment accounted for the largest share of more than 76.58% in 2022.
    • The autoimmune diseases segment is anticipated to register the fastest growth rate during the forecast period.

    The full, unedited press release is posted at this link.

    From an access perspective, most vaccines were delivered at retail pharmacies during the recent pandemic. 

    The U.S. Department of Health and Human Services authorized pharmacists and qualified pharmacy technicians to administer vaccines to minors and adults during the pandemic, subject to several requirements.

    Understanding the nature of diseases and deploying scalable solutions have already saved hundreds of millions of lives. According to this report, humanity is just beginning to benefit from these innovations.

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    Article by
    Donald Hackett