Pune, India, Nov. 20, 2023 (GLOBE NEWSWIRE) — Global Immunology Market Size was valued at USD 102.41 billion in 2022 and is projected to grow from USD 194.28 billion by 2030 exhibiting a CAGR of 10.3% during the forecast period. Immunology drugs strengthen the immune system to fight infections or to treat diseases such as arthritis and diabetes.
The surge in cases of immunological disorders associated with environmental effects is a significant catalyst for the market’s expansion in immunological drugs and therapies.
This information is provided by Fortune Business Insights™ in its research report titled Immunology Market, 2023-2030.
Key Industry Development-
- January 2022 – Pfizer Inc. was approved by the U.S. FDA for CIBINQO, a novel treatment tailored for individuals suffering from moderate to severe atopic dermatitis.
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Key Takeaways –
- Immunology Market size in North America was USD 56.42 billion in 2022
- Increasing prevalence of autoimmune disorders and novel therapies will drive market growth.
- Growing demand for drugs prompts development of new ones in global market.
- The monoclonal antibody (mAb) segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- AbbVie, Inc. (U.S.)
- Janssen Global Services, LLC (U.S.)
- Eli Lilly and Company (U.S.)
- Novartis AG (Switzerland)
- Pfizer Inc. (U.S.)
- Bristol-Myers Squibb Company (U.S.)
- Merck Sharp & Dohme Corp. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Amgen Inc. (U.S.)
- Astellas Pharma Inc. (Japan)
- UCB SA (Belgium)
Report Scope & Segmentation:
|Forecast Period||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR||10.3%|
|2030 Value Projection||USD 194.28 Billion|
|Immunology Market Size in 2022||USD 102.41 Billion|
|Historical Data for||2019 to 2021|
|No. of Pages||147|
|Segments covered||Drug Class, Disease Indication, Distribution Channel and Geography|
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Drivers & Restraints:
Increasing Demand for Biosimilars to Stimulate Market Expansion
The increasing adoption of biosimilars, driven by their lower costs compared to biologics such as Neulasta, plays a pivotal role in the growth of the immunology market. Biosimilars, such as Ziexentzo, offer a more affordable alternative for patients seeking treatment for conditions in the immunology field. This leads to higher demand for drugs, supporting market growth.
However, while effective, biologics can be associated with various adverse effects and safety concerns, including muscle aches and allergic reactions, which could hinder immunology market growth.
By Drug Class
- Monoclonal Antibody
- Fusion Proteins
By Disease Indication
- Rheumatoid Arthritis
- Psoriatic Arthritis
- Plaque Psoriasis
- Ankylosing Spondylitis
- Inflammatory Bowel Disease
- Prophylaxis of Organ Rejection
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
North America Emerged as Key Region Owing to the Increasing Incidence of Kidney Diseases
North America holds the leading position by capturing the largest immunology market share. The region’s growth is supported by its well-established healthcare infrastructure.
Europe is expected to exhibit a significant CAGR during the forecast period. This growth is driven by the rising incidence of autoimmune conditions across the region.
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Prominent Industry Players Employ Strategic Measures to Elevate their Market Presence
Key industry players such as Bristol-Myers Squibb Company, Astellas Pharma Inc., and Merck Sharp & Dohme Corp. strongly emphasize implementing strategic initiatives to bolster their positions in the market. They also invest in bolstering their global distribution networks to establish a presence in emerging regions.
How big is the Immunology Market?
Immunology Market size was USD 102.41 billion in 2022. It is expected to reach USD 194.28 billion in 2030.
How fast is the Immunology Market growing?
The Immunology Market will exhibit a CAGR of 10.3% during the forecast period, 2023-2030.
Monoclonal Antibody Therapy Market Analysis, Global Size and Industry Share Forecast
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Rheumatoid Arthritis Therapeutics Market Overview, Industry Share and Forecast
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Psoriasis Treatment Market Analysis, Size, Share and Overview
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- Immunology Market
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