Global Immuno-Oncology Market Briefing And Future Prospects 2022-2028 | Amgen, Inc., Bristol-Myers Squibb Company,
Immuno-oncology
SEATTLE, WASHINGTON, USA, January 7, 2022 /EINPresswire.com/ – Governments in various developing countries have taken initiatives to raise awareness about the different causes of cancer. In order to reduce the death and morbidity rate, governments in developed and developing countries are carrying out awareness campaigns to encourage people to opt for early diagnosis of cancer, which in turn should increase the number of patients at risk of cancer. ” opt for various immunotherapies.
The global immuno-oncology market is estimated to be worth US $ 12,993.8 million in 2020 and is expected to reach US $ 37,783.6 million by the end of 2027.
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The R&D of new products is expected to drive the growth of the global immuno-oncology market during the forecast period. For example, in July 2020, Spring Bank Pharmaceuticals, Inc., in partnership with F-star Therapeutics, Limited, launched F-star Therapeutics, Inc. for R&D in immuno-oncology.
Moreover, the R&D in cell therapy is also expected to drive the growth of the global immuno-oncology market during the forecast period. For example, in March 2020, Lonza collaborated with Stanford University School of Medicine, Fred Hutchinson Cancer Research Center, and Parker Institute for Cancer Immunotherapy for cell therapy R&D.
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R&D in immuno-oncology is expected to offer lucrative growth opportunities for players in the global immuno-oncology market. For example, in January 2020, researchers at the Universidade do Porto, Portugal reported an assessment of the role of O-glycosylation using glyco-engineered gastric cancer models in the detection of CD44v9 – a major splice variant isoform of protein expressed in human gastrointestinal cancer cells – by monoclonal antibody.
In addition, the approval and launch of biosimilars is also expected to provide lucrative growth opportunities for players in the global immuno-oncology market. For example, trastuzumab –– a monoclonal antibody and biosimilar drug has been prequalified by the World Health Organization for the treatment of early breast cancer.
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The major players operating in the global immuno-oncology market are focusing on R&D to expand their product portfolio. For example, Ferring Pharmaceuticals invested around US $ 30 million in February 2018 in the company’s biotechnology center in Switzerland for R&D on monoclonal antibodies and biologics.
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Cost is a major issue for much of the population due to limited insurance coverage and government support for cancer treatment. This lack of social health insurance as well as the exclusive provision of private health insurance schemes is a major factor limiting the use of services.
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Globally, as of 4:14 p.m. CET on December 29, 2021, 281,808,270 confirmed cases of COVID-19, including 5,411,759 deaths, have been reported to the WHO. As of December 28, 2021, a total of 8,687,201,202 doses of vaccine had been administered. The pandemic has brought changes in patient care, including reduced personal contact but an increase in phone visits and delays in diagnostic procedures.
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Immune checkpoint inhibitors held a dominant position in the global immuno-oncology market in 2019, accounting for 89.7% share in terms of value, followed by immune system modulators and cancer vaccines respectively.
Immune checkpoint inhibitors held a dominant position in the global immuno-oncology market in 2019, accounting for 89.7% share in terms of value, followed by immune system modulators and cancer vaccines respectively.
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The major players operating in the global immuno-oncology market are Amgen, Inc., Agilent Technologies Inc., Agenus Inc., AstraZeneca Plc, Avantor, Inc., Bristol-Myers Squibb Company, Bio-Rad Laboratories, Inc. , Dendreon Corporation (A Sanpower Group Company), Enzo Biochem, Inc., Ferring Pharmaceuticals, F. Hoffmann-La Roche Ltd., Lonza Group, Merck & Co., Inc., Novartis AG, Pfizer, Inc., Sanofi and Spring Bank Pharmaceuticals, Inc.
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The major players operating in the global immuno-oncology market are focused on the approval and launch of new products to expand their product portfolio. For example, the United States Food and Drug Administration approved Dako PD-L1 IHC 22C3 pharmDx from Agilent Technologies Inc. in June 2018, used to determine PD-L1 expression in cervical cancer. uterus.
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