India Immuno-Oncology Drugs Segment Is The Largest Segment Driving The Growth Of India Immuno-Oncology Drugs Market
The India Immuno-Oncology Drugs Market is estimated to be valued at US$ 338.98 Mn in 2023 and is expected to exhibit a CAGR of 13. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Immuno-oncology drugs help improve the body's natural defenses to fight against cancer. These drugs aid the immune system to better identify and attack cancer cells. They help strengthen existing immune response or introduce a new immune response against tumors.
Market key trends:
One of the key trends in the India immuno-oncology drugs market is the increasing demand for targeted therapies. Targeted therapies aim at specific molecular targets that are involved in cancer cell progression and growth. For example, monoclonal antibodies target specific proteins expressed on tumor cells or tumor blood vessels. They are designed to interfere with cancer cell proliferation. Unlike conventional therapies, targeted therapies focus on specific cancer pathways and are more effective with fewer side effects. This has increased patient adherence to immunotherapies for longer durations.
SWOT Analysis
Strengths: Presence of large patient population suffering from cancer in India. Growing healthcare expenditure by government and individuals to facilitate easy access to advanced cancer treatments.
Weaknesses: High prices of premium immuno-oncology drugs making affordability a challenge. Limited healthcare infrastructure for widespread distribution and administration of immunotherapies.
Opportunities: Rising health insurance penetration helping patients avail costly treatments. Increasing focus on generics and biosimilars to cater to price-sensitive markets.
Threats: Stringent regulatory norms for approval of immunotherapies. Safety issues and side effects associated with immune-modulating drugs.
Key Takeaways
India Immuno-Oncology Drugs Market Demand was valued at US$ 338.98 Mn in 2023. The market is expected to grow at a CAGR of 13% over 2023-20`30 due to growing incidence of cancer in India, increasing demand for effective therapies, and widening approval and uptake of novel immunotherapies.
Regional analysis: The southern region accounted for the largest market share in 2023 due to higher cancer burden and availability of modern healthcare facilities. Moreover, states like Maharashtra and Karnataka are anticipated to witness fastest growth owing to growing healthcare expenditure and expanding pharmaceutical infrastructure.
Key players: Some of the prominent players operating in the India immuno-oncology drugs market are Amgen Inc., F. Hoffmann-La Roche AG., Intas Pharmaceuticals Ltd., AstraZeneca plc, Mylan N.V., Dr. Reddy's Laboratories, Bristol - Myers Squibb, Merck & Co., Inc., BIOCAD-Biotechnology company, Reliance Life Sciences, Biocon Limited, and Hetero Drugs Limited.
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