The global “immunomodulators“ market is set to gain momentum from the increasing research activities to introduce unique approaches to treat cancer effectively. This information is published by Fortune Business Insights™ in a new study, titled, “Immunomodulators Market Size, Share & Industry Analysis, By Product Type (Immunosuppressant, Immunostimulants), By Application (Oncology, Respiratory, Multiple Sclerosis, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the immunomodulators market size was USD 161.57 billion in 2019. It is projected to grow from USD 186.12 billion in 2020 to USD 285.01 billion in 2027 at a CAGR of 6.3% during the forecast period.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
Investment in Quality Control to Favor Growth amid COVID-19 Pandemic
The COVID-19 pandemic is set to affect the market for immunomodulators positively in the near future backed by the increasing sales of these products. Besides, numerous pharmaceutical companies are aiming to maintain the balance between demand and supply to keep their sales intact. They are also trying to invest more in quality control, refine their R&D activities, and enhance the supply chain management. We are offering in-depth analysis of the market to help you invest in the right zones.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/immunomodulators-market-104692
How Did We Develop This Report?
We have conducted extensive primary and secondary research to gather information about various aspects of this report. Our special interviews with end-user respondents and supply side respondents helped in gaining insights into the average pricing, per capita consumption trend, average spending on products, growth rate, market size, and dynamics. We have also taken information from reputed industry journals, articles, and press releases of organizations operating in this field.
Drivers & Restraints-
Rising Cases of Rheumatoid Arthritis to Accelerate Growth
The higher prevalence of multiple sclerosis is considered to be the second major cause of death, followed by cardiovascular disorders. The rising number of ongoing clinical trials to develop immunotherapeutic agents, namely, laquinimod, ozanimod, and ponesimod would propel the immunomodulators market in the upcoming years. Apart from that, the rising need to treat autoimmune disorders, such as rheumatoid arthritis is anticipated to spur demand. However, immunomodulators can cause severe infections including HIB, TB, fungal infections, hepatitis B, and hepatitis C viruses. These factors may hinder the demand for such drugs.
Immunosuppressant Segment Held Highest Share Fueled by Rising Availability of Drugs
Based on the product type, the immunosuppressant segment held the majority of the immunomodulators market share in 2019. This growth is attributable to the usage of these drugs for treating autoimmune disorders, such as lupus and alopecia areata. Also, the presence of a wide range of these drugs capable of effectively treating the above-mentioned diseases would boost growth of the segment.
Increasing Prevalence of Chronic Diseases to Drive Growth in North America
Geographically, in 2019, North America procured USD 61.91 billion in terms of revenue. The region is expected to retain its dominant position throughout the forthcoming years on account of the surging incidence of chronic diseases in the U.S. Europe, on the other hand, is set to remain in the second position backed by the increasing sales of immunosuppressant products in the region. In Asia Pacific, would show the highest CAGR stoked by the rising number of ongoing studies associated with immunomodulators. Also, the increasing geriatric population would intensify demand in the region.
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Key Players Focus on Introducing State-of-the-art Drugs to Gain a Competitive Edge
The global market for immunomodulators contains a large number of big, small, and medium companies. Most of them are striving persistently to gain a competitive edge in the market. To do so, they are coming up with novel immunomodulators to treat various chronic diseases. Below are the two latest industry developments:
- October 2020: Cytocom, Inc. and Cleveland BioLabs, Inc. signed a merger agreement to blend their businesses in an individual transaction. This merger will transform the growth opportunity for Cleveland and Cytocom shareholders. It will also strengthen their positions and accelerate their potential to treat serious medical conditions with immune-modulating agents.
- January 2020: Bristol Myers Squibb introduced its latest drug named Zeposia to treat multiple sclerosis. It can not only address less recognized cognitive issues but also the physical aspects of multiple sclerosis.