The immune checkpoint inhibitors market studied was anticipated to grow with a CAGR of 18% during the forecast period. The primary factor attributing to the growth of the market is a steep rise in the global prevalence of various types of cancers coupled with a steep increase in the geriatric population across the geographical locations, mainly in developed and emerging economies. For instance, according to the World Health Organization report, cancer is a leading cause of mortality globally, accounting for an estimated 9.6 million deaths, and lung cancer was identified as the most common cause of death, with 1.76 million deaths in 2018. Thus, the rise in the volume of patient pool, increased awareness among the people along with earlier detection of cancer using technologically advanced screening procedures are likely to boost the immune checkpoint inhibitors market's growth during the forecast period.
Key Market Trends
The PD-1 Inhibitors Segment is Expected to Hold the Largest Market Share in the Immune Checkpoint Inhibitors Market
- The PD-1 inhibitors segment is expected to account for the largest revenue over the forecast period the dominance of the segment can be attributed to the increased volume of research activities, approvals, and rise in prescriptions of these drugs such as nivolumab and pembrolizumab. Furthermore, increased adoption of pembrolizumab (KEYTRUDA), the first PD-1 inhibitor since its approval in 2014 due to its proven efficiency to treat multiple FDA-Approved indications like melanoma, non-small cell lung cancer (NSCLC), head and neck squamous cell cancer (HNSCC), and others which are highly prevalent globally driving the growth of the segment market. An increasing number of allergic reactions associated with the medication of Yervoy, the only CTLA-4 inhibitor product available in the market, is also expected to fuel the growth of this segment.
- On the other hand, huge investments by the key players for the development of products with low dose CTLA-4 inhibitors, other non-PD-1, and PD-L1 ICI drugs such as the IDO-1 agents, LAG-3 agents, TIM-3 agents, and CD47/SIRPα agents are likely to propel the market revenue over the forecast period.
North America is Expected to Dominate the Market
- North America is expected to dominate the overall immune checkpoint inhibitors market throughout the forecast period. In the North American region, the United States holds the market share. The dominance is due to the growing prevalence of various chronic diseases like diabetes, skin cancer, urothelial carcinomas, lung cancers, and the presence of a huge population of baby boomers during the forecast period in the United States necessitated the efficient treatment.
- For instance, according to the American Cancer Society Inc estimates for the year 2020, lung cancer is the second most common cancer leading to 135,720 deaths in both men and women. The statistics also report that about 13% of all lung cancers are small cell lung cancer (SCLC) and 84% non-small cell lung cancer (NSCLC) in the United States which is expected to continue in the future resulting in higher demand for these products fueling the market in the region.
- Moreover, the significant share of market revenue in the North American region can be attributed to the presence of major key players and huge investment in the R&D activities to develop new products with lesser side effects and generic drugs along with incentives by the government to encourage the innovations to decrease the growing disease burden which is likely to provide more opportunities to the growth of ICI market during the forecast period.
The PD-1 and PD-L1 inhibitors market is moderately competitive and consists of several major players. Some of the companies are expanding their market position by adopting various strategies such as acquisitions and mergers, research collaboration, while others are investing in clinical trials to extend the treatment of other indications with the existing drugs to address the unmet challenges of the disease burden driving the market share. For instance, in June 2019, Merck received accelerated approval from the USFDA for its pembrolizumab (KEYTRUDA) for the treatment of patients with metastatic SCLC with disease progression on or after platinum-based chemotherapy and at least one other prior line of therapy which is likely to boost the market share during the forecast period. Few of the major players currently dominating the industry in terms of revenue are Bristol‑Myers Squibb Company, AstraZeneca PLC, F. Hoffmann-La Roche AG, Regeneron Pharmaceuticals Inc., and Merck & Co. Inc.
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Table of Contents
1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Rising Investments in R&D and Clinical Trials by Bio-pharmaceutical Industries to Develop these Products
4.2.2 Increased Encouragement by Regulatory Authorities with Favorable Approvals and Special Designations for New Drug Molecules
4.3 Market Restraints
4.3.1 Higher Risk of Complications Associated with the Expensive Oncology Treatment
4.3.2 Challenges in Development with Uncertainty in Regulatory Process and High Costs of Tedious Clinical Trials
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 CTLA-4 Inhibitors
5.1.2 PD-1 Inhibitors
5.1.3 Other Types of Inhibitors
5.2.1 Hodgkin Lymphoma
5.2.2 Kidney Cancers
5.2.4 Non-small Cell Lung Cancer
5.2.5 Other Applications
5.3 Distribution Channel
5.3.1 Hospital Pharmacies
5.3.2 Retail Pharmacies
5.3.3 Online Pharmacies
5.4.1 North America
188.8.131.52 United states
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6.1.1 Bristol-Myers Squibb Company
6.1.2 Merck & Co.
6.1.3 F. Hoffmann-La Roche AG
6.1.4 Regeneron Pharmaceuticals Inc.
6.1.5 AstraZeneca PLC