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The Global Immunology Market is likely to witness considerable growth in the coming years, with impetus from rising uptake of immunology drugs. According to a report published by Fortune Business Insights, titled “IMMUNOLOGY: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026,” the market was valued at US$ 77,365.4 Mn in 2018. Fortune Business Insights has predicted that the market will reach US$ 143,833.2 Mn by 2026 and will exhibit a CAGR of 8.1%.
The emphasis on the betterment of existing products, coupled with the introduction of newer products has been a growing trend among the companies operating in the global immunology market. The awareness regarding the severity of immunological disorders and the need for early treatment and management of these disorders will favor the growth of the global immunology market in the forthcoming years. Furthermore, increasing investment in research and development of newer drugs will aid the growth of the global market. The growing emphasis on research and development is primarily driven by increasing regulatory approvals in recent years.
Monoclonal Antibody Will Witness High Demand
The exceptional properties of the monoclonal antibody have created a high demand for the product across the world. Monoclonal antibody (mAb) has been regarded highly in the healthcare industry and it has been deemed as a high specific theory, capable of treating immunological disorders. Among all product types, Fortune Business Insights has labelled monoclonal antibodies (mAb) as the leading product type. Due to the high clinical efficacy, the monoclonal antibody will witness huge demand in the coming years. The mAb segment accounted for around 64.5% of the global market share. Having said that, increasing investment towards the development of immunosuppressant will lead to high demand for the product. Accounting to this, the immunosuppressant will witness a relatively high CAGR during the forecast period.
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Rising Uptake of Immunology Drugs to Favor Growth of the Market in the Asia Pacific
The report includes segmentation of the global immunology market based on regional demographics. Fortune Business Insights has labelled out leading regions and forecasts the regions that are likely to lead the market in the coming years. The immunology market in North America was valued at US$ 41,622.5 Mn in 2018. Increasing adoption of advanced immunology drugs has contributed to the growth of the market in North America. Additionally, increasing awareness towards autoimmune and immunological disorders has fuelled the demand for immunology drugs in the Asia Pacific. The efforts taken towards reducing the cost associated with advanced drugs in emerging countries such as India and China will enable the growth of the immunology market in the Asia Pacific. Fortune Business Insights predicts the immunology market in the Asia Pacific will witness a relatively high CAGR during the forecast period.
Fortune Business Insights has stressed on the market activities of leading companies. Fortune Business Insights has predicted that due to an exceptional product portfolio and a strong market brand, AbbVie will emerge as the leading company in the global immunology market. Some of the other companies that have made significant growth contributions are Janssen Global Services, LLC (Johnson & Johnson), F. Hoffmann-La Roche Ltd, Amgen Inc., Pfizer Inc, Novartis AG, Astellas, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., UCB SA, and ALLERGAN.
The global immunology market is segmented based on:
By Drug Class
By Disease Indication
By Distribution Channel