The Global Immunology Market Growth Accelerated By Increasing Prevalence Of Chronic Conditions
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| Immunology Market |
Immunology involves studying immune systems in health and disease including cells and organs of the immune system like bone marrow, thymus, and lymph nodes. Immunology products help modulate immune responses for treatment of diseases. Monoclonal antibodies are major products used to treat chronic inflammatory diseases like rheumatoid arthritis, multiple sclerosis, and inflammatory bowel disease.
The
global Immunology Market is estimated to be valued at US$ 107133.84 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new
report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of chronic conditions globally is accelerating growth
of the immunology market. Chronic conditions like autoimmune diseases, cancer,
and infectious diseases are on rise. For instance, according to WHO, worldwide
prevalence of rheumatoid arthritis is estimated to be around 0.24% of the total
adult population. Prevalence of multiple sclerosis ranges between 2 to 150 per
100,000 population in different countries. Rising cases of such chronic
conditions is boosting demand for immunology products that can help treat
symptoms or slow progression of the disease. Development of novel monoclonal
antibody therapies and cell therapies also contributes to market growth by
expanding treatment options available for immunological conditions.
Segment
Analysis
The global immunology market is dominated by pharmaceuticals as a sub-segment.
The pharmaceuticals sub-segment held a share of around 60% in 2023 due to high
demand for immunosuppressant drugs for treating autoimmune diseases and
post-transplant rejections. Immunosuppressive drugs see extensive therapeutic
use across diseases like rheumatoid arthritis, psoriasis, inflammatory bowel
disease, and transplant rejections, thus Experience high demand.
Key Takeaways
The global immunology market is expected to witness high growth over the
forecast period till 2030. The market size is projected to grow from US$
107133.84 Mn in 2023 to reach over US$ 200000 Mn by 2030, registering a CAGR of
around 22% during the forecast period.
Regional analysis
North America dominated the global market with over 40% share in 2023 owing to
the high prevalence of autoimmune diseases and growing organ transplantation
procedures in the region. Moreover, advanced healthcare infrastructure and
presence of major players in the region also supported market growth. However,
Asia Pacific is expected to witness the fastest growth during the forecast
period owing to growing healthcare expenditure, rising patient awareness
regarding various immunology treatments.
Key players
Key players operating in the immunology market are Abbott Laboratories, F.
Hoffmann-la Roche Ltd., Johnson and Johnson, Medtronic Plc, Novo Nordisk A/S,
Terumo Corporation, Dexcom, Inc., and Becton, Dickinson and Company, among
others. Abbott Laboratories leads the market with over 15% revenue share owing
to its strong product portfolio in the pharmaceuticals and devices segment.
Roche also captured around 12% share led by its broad portfolio of immunology
biologics drugs and diagnostic devices.
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