Immunology Market, by Drug Class (Monoclonal Antibody (mAb), Fusion Proteins, Immunosuppressants, Polyclonal Antibody (pAb), and Others), by Disease Indication (Rheumatoid Arthritis, Psoriatic Arthritis, Plaque Psoriasis, Ankylosing Spondylitis, Inflammatory Bowel Disease, Prophylaxis of Organ Rejection, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Immunology Market Overview
The global Immunology Market size is projected to reach a CAGR of 8.1% from 2023-2030.
Immunology is a discipline of medical and biological research that studies the immune system. The immune system defends us against infection in a variety of ways. Diseases such as autoimmunity, allergies, and cancer can occur when the human immune system is not operating properly. Autoimmune diseases occur when the immune system attacks the body that it’s meant to protect. People suffering from autoimmune diseases have a defect that makes their immune system unable to distinguish 'self' from ‘non-self’ or 'foreign' molecules. Immunology provides a wide variety of laboratory tests for the detection of autoimmune diseases.
The growth of the market can be attributed to various factors such as the Increasing prevalence of autoimmune disorders and increasing product approvals by regulatory agencies. Furthermore, increasing funding from various government and non-government organizations is also an important factor responsible for the growth of the market.
On the other hand, the high costs of immunology drugs, adverse effects associated with these drugs, and lack of awareness are the major factors that can hinder the growth of the global immunology market.
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The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss, this is owing to the lockdown announced by the government agencies, due to which several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track, and aid in the resumption of industrial activities.
Delvens Industry Expert's Standpoint
The factor responsible for the growth of the global immunology market is the increased funding from various government and non-government organizations. This funding is crucial in ensuring that the necessary resources are available for research and development, as well as for the production and distribution of immunology drugs. On the other hand, the high costs of immunology drugs can be a major obstacle to the growth of the market. Additionally, the adverse effects associated with these drugs can also limit their usage, especially in patients who have other underlying medical conditions. Furthermore, the lack of awareness about the benefits of immunology drugs can also hinder their uptake and limit market growth. It is therefore essential to continue investing in research and development to improve the safety and efficacy of immunology drugs, as well as to increase public awareness about their potential benefits.
Key Findings
- Immunology is a discipline of medical and biological research that studies the immune system. The immune system defends us against infection in a variety of ways. Diseases such as autoimmunity, allergies, and cancer can occur when the human immune system is not operating properly. Autoimmune diseases occur when the immune system attacks the body that it’s meant to protect. People suffering from autoimmune diseases have a defect that makes their immune system unable to distinguish 'self' from ‘non-self’ or 'foreign' molecules. Immunology provides a wide variety of laboratory tests for the detection of autoimmune diseases.
- The growth of the market can be attributed to various factors such as the Increasing prevalence of autoimmune disorders and increasing product approvals by regulatory agencies. Furthermore, increasing funding from various government and non-government organizations is also an important factor responsible for the growth of the market.
- The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss, this is owing to the lockdown announced by the government agencies, due to which several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track, and aid in the resumption of industrial activities.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America has the largest share of the immunology drug market because of the availability of better reimbursement policies, the high potential to invest a huge amount of money in the development of immunology drugs, and due to the advancement of technologies.
Immunology Market Regional Analysis
North America to Dominate the Market
- North America has the largest share in the immunology drug market because of the availability of better reimbursement policies, the high potential to invest a huge amount of money in the development of immunology drugs, and due to the advancement of technologies.
Immunology Market Competitive Landscape
- AbbVie Inc.
- Janssen Global Services
- Johnson & Johnson
- F. Hoffmann-La Roche Ltd
- Amgen Inc.
- Pfizer Inc.
- Novartis
- Astellas
- Bristol-Myers Squibb Company
- Merck Sharp & Dohme Corp.
- UCB SA
- Allergan plc
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Immunology Market Recent Developments
- August 29, 2022 - AbbVie Showcases New Analyses and Real-World Data Across Multiple Immune-Mediated Skin Diseases at the European Academy of Dermatology and Venereology (EADV).
- August 24, 2022 - AbbVie announced that the U.S. Food and Drug Administration (FDA) approved the use of IMBRUVICA® (ibrutinib) for the treatment of pediatric patients one year and older with chronic graft versus host disease (cGVHD) after the failure of one or more lines of systemic therapy.
Reasons to Acquire in the Immunology Market
- Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for Immunology Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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Frequently Asked Questions
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