PD-1 And PD-L1 Inhibitor Market Is Estimated To Witness High Growth Owing To Opportunity Of Unmet Me
Author : Ashish Thapa | Published On : 12 Jan 2024
PD-1 and PD-L1 inhibitors are monoclonal antibodies that block immune inhibitory receptors known as programmed cell death protein 1 (PD-1) and programmed death-ligand 1(PD-L1) pathways. These antibodies help reactivate the immune system and enable it to identify and attack cancer cells. The global demand for these inhibitors is increasing rapidly as they offer less severe side effects as compared to chemotherapy and are more effective in treating various types of cancers.
The global PD-1 and PD-L1 Inhibitor Market is estimated to be valued at US$ 39.83 Bn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Unmet Medical Needs
There remains a significant unmet need for more effective and safer cancer treatment options. PD-1 and PD-L1 inhibitors have emerged as an important class of immunotherapy agents, showing potential to provide durable responses for some patients across a range of tumor types as compared to conventional chemotherapy. However, these agents still leave room for improvement in terms of safety profiles, response rates, and durable responses across different types of cancers. Ongoing research and development activities to develop next generation PD-1 and PD-L1 inhibitors addressing these unmet needs are expected to boost the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The PD-1 and PD-L1 Inhibitor Market requires huge R&D investments and getting regulatory approvals which makes it difficult for new players to enter.
Bargaining power of buyers: The presence of many established brands gives buyers higher bargaining power to negotiate on prices.
Bargaining power of suppliers: Majority of suppliers have patented technologies providing them bargaining power over buyers.
Threat of new substitutes: New drug delivery methods and immunotherapies pose threat of substitution.
Competitive rivalry: Market dominated by big players intensifying competition.
SWOT Analysis
Strength: Effective treatment options for cancer patients. Strong pipeline of drugs in clinical trials.
Weakness: High treatment cost impact affordability. Side effects associated with drugs.
Opportunity: Rising cancer incidence rates globally increases market potential. Combination therapies opening new opportunities.
Threats: Patent expiry of blockbuster drugs increases competition. Stringent regulations delay drug approvals.
Key Takeaways
The global PD-1 And PD-L1 Inhibitor Market Demand is expected to witness high growth. With rising prevalence of cancer worldwide and growing awareness, the demand for newer and effective treatment options is increasing rapidly. The market size reached US$ 39.83 Bn in 2024 and is forecast to grow at a CAGR of 7.8% during the forecast period.
Regional analysis North America dominates the global market and is estimated to continue leading owing to presence of major pharmaceutical companies, high healthcare spending and rising cancer incidence rates in the US. Asia Pacific is expected fastest growing region supported by growing healthcare expenditures, increasing disposable incomes and large patient pool.
Key players operating in the PD-1 and PD-L1 Inhibitor market are Sesajal S.A. de C.V., Olivado, Grupo Industrial Batellero S.A. de C.V, YASIN, Tron Hermanos SA de CV, The Village Press, Bella Vado, Chosen Foods LLC, and Storino's Quality Products. Merck & Co. and Bristol-Myers Squibb are the leaders with blockbuster drugs Keytruda and Opdivo respectively. Smaller companies focus on combination therapies and specialty drugs.
Explore more related article on this topic: https://www.newsanalyticspro.com/pd-1-and-pd-l1-inhibitor-market-demand-analysis/
