Immuno Oncology Market Stunning Value Ahead: Roche, Novartis, Pfizer
Published Via 11Press : The Middle East Immuno Oncology market is expected to see a growth rate of 7.04% and may see a market size of USD3,108.40 Million by 2029. The Market is currently pegged at USD2,757.10 Million.
What is Immuno Oncology?
Cancer immunotherapy, commonly referred to as immuno-oncology, is a type of cancer treatment that targets cancer cells by activating the body’s immune system. The immune system is often responsible for identifying and getting rid of aberrant or foreign cells in the body, including cancer cells. Contrarily, cancer cells have the ability to evade the immune system’s recognition and elimination, which permits them to proliferate and spread. In order to make cancer cells more noticeable and attackable, immuno-oncology therapies stimulate or enhance the body’s immune response to them. They include CAR-T cell therapy, which genetically modifies a patient’s immune cells to target cancer cells, and immune checkpoint inhibitors, which block proteins that hinder the immune system from attacking cancer cells. Adoptive cell therapy, which includes introducing immune cells that have been specifically programmed to target cancer cells into the patient’s body, is also a form of immuno-oncology treatment. Vaccines that encourage the immune system to identify and combat cancer cells are another example.
| Attributes | Details |
| Study Period | -2029 |
| Base Year | 2022 |
| Unit | Value (USD Million) |
| Key Companies Profiled | Roche, Bristol Myers Squibb, Merck, AstraZeneca, Novartis, Pfizer, Sanofi, AbbVie, Johnson & Johnson, Takeda Pharmaceutical |
| CAGR | 7.04% |
Major Companies Profiled in This Report
- Roche
- Bristol Myers Squibb
- Merck
- AstraZeneca
- Novartis
- Pfizer
- Sanofi
- AbbVie
- Johnson & Johnson
- Takeda Pharmaceutical
By Type
- Immune Checkpoint Inhibitors
- Immune System Modulators
- Cancer Vaccines
- Oncolytic Virus
- Others
By Application
- Hospitals
- Clinics
- Ambulatory
- Surgical Centers
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Key Developments in the Market:
The third Middle East and North Africa Immuno-Oncology Forum (MIOF) was held on November 24, 2021, at Amman, Jordan’s King Hussein Cancer Foundation and Center (KHCC) and the Naef K. Basile Cancer Institute (NKBCI) of the American University of Beirut Medical Centre (AUBMC).
Regulatory Insights:
The regulatory body in charge of medicine approval is unique to each Middle Eastern nation. The approval procedure differs per nation and might be drawn out and complicated. Before they may be advertised and sold in the area, immuno-oncology treatments must clear this regulatory obstacle. In the Middle East, drug reimbursement and pricing are governed by the government, with regional variations. The use and accessibility of immuno-oncology medicines in the area are constrained by their high cost. In the Middle East, regulatory scrutiny and approval are required for immuno-oncology clinical studies.
Regional regulatory organizations demand adherence to international standards for clinical trial design, conduct, and reporting. Intellectual property protection is governed by the Middle Eastern government. The promotion of investment in the creation of novel immuno-oncology treatments depends on the protection of intellectual property. With the arrival of new competitors and the introduction of cutting-edge treatments, the Middle Eastern immuno-oncology market’s competitive environment is changing quickly. One of Roche’s leading immuno-oncology drugs is the PD-L1 checkpoint inhibitor Tecentriq. In the Middle East’s immuno-oncology market, Roche is a significant player. Bristol-Myers Squibb is another prominent competitor in the Middle Eastern immuno-oncology market with a line of immuno-oncology drugs like Opdivo, a PD-1 checkpoint inhibitor, and Yervoy, a CTLA-4 checkpoint inhibitor.
Influencing Trend:
- Immuno-oncology is seeing an increase in the use of next-generation immunotherapies including CAR-T cell therapy and bispecific antibodies. These treatments provide cancer treatment a more specialized focus, which might lead to better patient outcomes. Identification of individuals who might benefit from immuno-oncology therapy is becoming more commonplace because to biomarkers and companion diagnostics.
- By choosing individuals who are more likely to respond to treatment, this strategy can help patients achieve better outcomes while spending less on healthcare. With the goal of accelerating drug development and enhancing patient outcomes, academic research institutions, pharmaceutical firms, and biotechnology firms are increasingly working together.
- The creation of new cures and treatments is a result of these relationships, which are fostering area innovation. Patients in emerging economies now have more access to immuno-oncology treatments, which are growing in popularity there.
- This trend is being driven by both an increase in the demand for efficient cancer therapies and an increase in the amount of money being put into the infrastructure of emerging economies’ healthcare systems.
Market Growth Drivers:
- The need for efficient treatments grows as the incidence of cancer across borders rises. As prospective cancer treatment modalities, immuno-oncology medicines are gaining prominence. Individualized therapy options are possible thanks to immuno-oncology medicines that can be adjusted to the genetic profiles of specific patients.
- The development of more potent immuno-oncology treatments has been made possible by advancements in genomes, proteomics, and bioinformatics, which have improved our understanding of cancer biology. The creation of novel medications and treatments is a result of increased financing for immuno-oncology research and development.
Challenges:
- The healthcare systems and resources needed to offer patients cutting-edge cancer therapy like immuno-oncology medications are lacking in many Middle Eastern nations. It may restrict the application of these therapies and hinder commercial expansion.
- Because immuno-oncology treatments can be expensive, many patients in the Middle East cannot afford them. Potentially, it will lessen the demand for these treatments and slow the market’s expansion.
- With varying regulatory criteria and approval procedures from several nations, the Middle Eastern regulatory environment can be complicated and difficult. For businesses in the area, it may be challenging to create and market immuno-oncology treatments. There are fewer immuno-oncology clinical studies undertaken in the Middle East than elsewhere, which reduces patient involvement there.
Restraints:
- Many MEA countries lack the healthcare infrastructure and resources necessary to offer patients cutting-edge cancer treatments like immuno-oncology therapy. This might restrict the usage of these medicines and delay market expansion.
- Many MEA patients cannot afford immuno-oncology treatments because of their high cost. This can lower the demand for these treatments and slow the market’s expansion. With several countries’ regulatory standards and approval procedures, the regulatory environment in the MEA region can be complicated and difficult. It may be challenging for businesses in the area to create and market immuno-oncology treatments as a result.
- The mechanisms of immuno-oncology treatments’ actions remain poorly understood, and different patients respond differently to them. This can make creating and marketing these medicines in the MEA region challenging. Some patients may experience side effects from immuno-oncology treatments, which restricts its use and adoption in the MEA region.
Opportunities:
The prevalence of cancer is rising in the Middle East, which is boosting demand for efficient cancer therapies including immuno-oncology therapy. To enhance the use and accessibility of immuno-oncology medicines, many Middle Eastern nations are making significant investments in their healthcare infrastructure, including cancer treatment centers. In the Middle East, partnerships and cooperation between governmental organizations, academic institutions, and pharmaceutical corporations are expanding. This could hasten the research and marketing of immuno-oncology treatments. With many people going there for cancer treatment, the Middle East is swiftly developing into a hotspot for medical tourism. The need for cutting-edge cancer therapies, like immuno-oncology therapies, may rise as a result.
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The market study on immuno-oncology in the Middle East’s main findings are:
- Market CAGR from 2022 to 2029, the anticipated timeframe
- Comprehensive data on growth factors expected to propel the immuno-oncology industry in the foreseeable future
- Detailed Insights on Immuno Oncology Future Trends and Shifting Consumer Behavior
- An estimation of the size of the Middle East Immuno Oncology market and its contribution to the parent market, broken down by type, application, and country
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