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 work by enhancing the body's natural defenses to fight against cancer. These drugs help mobilize the body's immune system to detect and destroy cancer cells. The major types of immuno-oncology drugs available in the market include monoclonal antibodies, immune checkpoint inhibitors, immune system modulators and cancer vaccines. These drugs are being increasingly used in the treatment of various types of cancers including lung cancer, blood cancer, breast cancer, colorectal cancer among others.

Market Dynamics:

Rising prevalence of cancer in India is a key factor driving growth of the immuno-oncology drugs market in the country. According to Indian Council of Medical Research, cancer cases in India have increased significantly over the last few decades, from an estimated 7,00,000 cases in 1982 to over 10 lakh cases in 2016. Lung cancer, breast cancer, and oral cancer are the most common types of cancers diagnosed in India. Growing awareness about various immuno-oncology treatment options as well as availability of low cost generic drugs are further propelling the market growth. In addition, government initiatives towards boosting generic drugs manufacturing is encouraging domestic manufacturers to develop affordable cancer treatment drugs.

SWOT Analysis (Strength: explain in three sentence explanation; Weakness: explain two weakness in three sentence long explanation; Opportunity: explain two opportunity in three sentence long explanation; Threats: explain two threats two sentence explanation).

Strength: The India immuno-oncology drugs market has a strong pipeline of drugs in clinical trials. Leading pharmaceutical companies are investing heavily in R&D to develop novel immuno-oncology therapies. Rising awareness about advantages of targeted cancer therapies over conventional treatment options is driving higher adoption of immuno-oncology drugs.

Weakness: High costs associated with R&D and marketing of immuno-oncology drugs restrict their availability for mass patient population in India. Unaffordability of premium-priced specialty drugs remains a key challenge.

Opportunity: Increasing healthcare expenditure by both public and private players in India is supporting market growth. Growing geriatric population that is more prone to cancer offers new avenues.

Threats: Stringent regulations for drug approval may delay market launch of novel therapies. Rising population susceptibility to lifestyle diseases could increase burden of other health issues as well.

Key Takeaways

The global India Immuno-Oncology Drugs Market Growth is expected to witness high growth, exhibiting CAGR of 13.% over the forecast period, due to increasing prevalence of cancer in India.

Regional analysis

The Southern region holds the major share in the India immuno-oncology drugs market currently. This is attributed to presence of advanced healthcare facilities and higher expenditure on cancer care in states like Karnataka, Tamil Nadu and Kerala. However, the western region is likely to emerge as the fastest growing regional market owing to establishment of new cancer centers and hospitals in Maharashtra and Gujarat.

Key players related content

Key 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.

For more insights, read- https://dailynewsmotion.weebly.com/report-blog/india-immuno-oncology-drugs-market-estimated-to-witness-high-growth-owing-to-rising-cancer-prevalence-in-the-country