Press Release Description

Global Next Generation Immunotherapy Market to Grow at a CAGR of 7.5% During 2024-29

The Global Next Generation Immunotherapy Market is projected to grow at a CAGR of 7.5% during the forecast period of 2024-29, cites MarkNtel Advisors in the recent research report. In recent years, the demand for chimeric antigen receptor (CAR) T-cell therapy has significantly increased due to the rising prevalence of relapsed B-cell acute lymphoblastic leukemia (ALL) and specific non-Hodgkin lymphomas. CAR-T cell therapy has demonstrated superior clinical outcomes in treating these challenging conditions, driving its demand among NHL patients. Further, to meet this growing demand, companies have invested heavily in CAR-T cell therapy research and development, resulting in the launch of new drugs.

The availability of next-generation immunotherapies and the support of regulatory agencies like the FDA and EMA through accelerated pathways and approvals have also contributed to the market's growth. Thus, the established regulatory framework and clear approval pathways have been facilitating the development and commercialization of CAR-T cell therapies, driving market growth.

Moreover, market growth is further supported by the active involvement of companies in the development of next-generation immunotherapy. These companies, including Human Immunology Biosciences Inc., Merck & Co., Inc., Bristol Myers Squibb (BMS), and others, have been heavily investing in clinical trials and research to create and validate innovative immunotherapies. These trials play a crucial role in demonstrating the safety and effectiveness of new treatments, obtaining regulatory approvals, and expanding the range of conditions and patient populations that can benefit from advanced immunotherapy approaches.

As a result, the market is expected to experience significant growth, attributed to the increased efficacy of novel drugs and an expanding patient pool, further states the research report, “Global Next Generation Immunotherapy Market Analysis, 2024.”

Intratumoral Administration Dominating the Next Generation Immunotherapy Market

Based on the Route of Administration, the market is bifurcated into Intravenous, Intratumoral, Subcutaneous, and Oral. Among these, in recent years, the intratumoral administration approach has gained significant popularity due to its ability to generate a more robust immune response, supported by promising findings from clinical studies. As a result, both consumers and healthcare professionals have shown a growing interest in the intratumoral mode of delivering next-generation immunotherapies.

Global Next Generation Immunotherapy Market

Additionally, companies have increasingly invested in research and development efforts to enhance advancements in intratumoral therapy. These developments underscore the increasing recognition of intratumoral therapy's potential, and the introduction of new therapies in this field is expected to further bolster its growth in the coming years.

North America Leading the Next Generation Immunotherapy Market

Geographically, North America has been dominating the Next Generation Immunotherapy Market. In recent years, North America, particularly the United States, has been at the forefront of advancing immunotherapy, making significant contributions to the field. Also, across North American countries like the US and Canada, healthcare providers have been increasingly adopting immunotherapies to improve patient outcomes, which has been further improving market growth.

Moreover, the region has a high prevalence of cancer and autoimmune diseases, resulting in a substantial demand for next-generation immunotherapy treatments. This demand has been met by an increased adoption of these therapies, leading to market growth. The trajectory of North America's dominance is influenced by evolving treatment landscapes, regulatory approvals for new therapies, ongoing research and development efforts, and healthcare policies.

Additionally, companies such as Pfizer and BioNTech have recently unveiled their initiatives to introduce innovative therapies in the region, which would further support the market expansion in North America.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Bristol Myers Squibb, Regeneron Pharmaceuticals, MacroGenics, AbbVie Inc., Boehringer Ingelheim, Pfizer Inc., F. Hoffmann-La Roche Ltd., Lonza, Merck & Co., Inc., AstraZeneca, ImmunAbs, Novacell Technology Inc., IMBiologics, Eli Lilly and Company, Johnson and Johnson and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across various regions?
  6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-29?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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