Market Trends of Global Immunomodulators Industry
Oncology is Expected to Hold Significant Market Share in the Application Segment Over the Forecast Period
Oncology, a specialized branch of medicine, centers on preventing, diagnosing, and treating cancer, which is marked by abnormal cell growth in the body. The American Cancer Society's 2023 update highlights a projection of over 1.9 million new cancer diagnoses in the U.S. this year, based on the identification of over 100 distinct cancer types. This projection excludes basal and squamous cell skin cancers and certain carcinoma in situ cases, especially those of the urinary bladder. Breast cancer stands out, constituting 25% of all cancers diagnosed in women globally, alongside prevalent cancers like colorectal, lung, cervical, and thyroid. Given the expected uptick in cancer cases, the oncology segment is set for expansion.
In the last decade, the oncology segment has seen significant growth, driven by a rising demand for effective cancer treatments and the success of novel therapies in clinical trials. Take checkpoint inhibitors as a prime example: pembrolizumab (Keytruda) and nivolumab (Opdivo) have transformed treatment methodologies across a spectrum of cancers, resulting in enhanced patient outcomes. In April 2022, Bristol Myers Squibb secured approval from the European Commission for Opdivo (nivolumab) in combination with chemotherapy. This endorsement was for a first-line treatment targeting patients with unresectable advanced, recurrent, or metastatic esophageal squamous cell carcinoma, especially those with a tumor cell PD-L1 expression of 1%. Thus, the surging demand for checkpoint inhibitors in cancer management is set to fuel segment growth in the foreseeable future.
Moreover, combination therapy is reshaping the oncology segment of the immunomodulators market. By enhancing the efficacy of cancer treatments and addressing the complex nature of tumor biology, this approach employs two or more therapeutic agents to achieve a synergistic effect, thereby improving patient outcomes. Recognizing that cancer is a collection of diverse conditions rather than a monolithic ailment emphasizes the necessity for innovative treatment strategies targeting multiple pathways simultaneously. For instance, in May 2023, Regeneron Pharmaceuticals, Inc. showcased promising outcomes from three independent cohorts. These cohorts evaluated the investigational combination of the LAG-3 inhibitor fianlimab and the PD-1 inhibitor Libtayo (cemiplimab) in adults with advanced melanoma. The initial clinical trial results underscored the combination's significant and enduring efficacy across diverse clinical scenarios, positively influencing the market's growth.
Additionally, company investments are driving progress in the oncology segment of the immunomodulators market, shaping the future of cancer treatment. With bolstered funding, companies can allocate more resources to research and development (R&D), enabling thorough preclinical studies and clinical trials essential for developing effective immunotherapies. A case in point: in December 2023, Odyssey Therapeutics, a biotech firm specializing in precision immunomodulators and oncology therapies, successfully raised USD 101 million in a Series C funding round. As Odyssey Therapeutics advances, its breakthroughs could herald a transformative evolution in cancer treatment, benefiting patients and enriching the broader healthcare landscape.
Given these dynamics, the oncology segment is poised for substantial growth in the coming years.
North America is Expected to Lead the Immunomodulators Market
Throughout the forecast period, North America is poised to command a substantial market share. This dominance is attributed to a surge in chronic disorders, an aging population, and a heightened preference for immunomodulatory drugs. For instance, data from the Canadian Cancer Society in November 2023 highlighted that in 2023, Canada witnessed approximately 239,100 new cancer diagnoses. Additionally, the data projected that around 45% of Canadians would receive a cancer diagnosis at some point in their lives.
Moreover, the rising prevalence of autoimmune diseases, including lupus, multiple sclerosis, and rheumatoid arthritis, is further propelling the region's growth. As per the National Multiple Sclerosis Society in 2024, the U.S. is home to nearly 1 million individuals battling Multiple Sclerosis (MS). While the majority of MS cases are diagnosed between ages 20 and 50, the disease can onset at any age, with a notable prevalence in women.
North America's advanced healthcare infrastructure facilitates the swift adoption of novel therapies. The region, dominated by leading pharmaceutical companies and research institutions, boasts a competitive landscape that fosters innovation. Regulatory entities, especially the Food and Drug Administration (FDA), uphold rigorous safety and efficacy standards for new immunomodulators, bolstering consumer confidence. For instance, in August 2023, the FDA expedited approval for talquetamab-tgvs (Talvey, Janssen Biotech, Inc.), targeting adults with relapsed or refractory multiple myeloma.
Within North America, the U.S. stands out with the largest market share. Key drivers include heightened awareness for early disease detection, favorable reimbursement policies, robust healthcare spending, and an emphasis on research and development. The U.S. also witnesses a surge in new product launches, bolstered by a strong presence of major players in drug R&D. For example, in January 2022, Cellino Biotech, an autonomous cell therapy manufacturer, raised USD 80 million in a Series A funding round. With ambitions to launch the inaugural autonomous human cell foundry by 2025, Cellino is set on expanding access to stem cell therapies. This growing embrace of stem cell technologies for treatment has attracted global investments, underscoring a focus on pioneering therapies in this arena.
In summary, these factors collectively underscore North America's projected growth trajectory in the coming years.
