by Immuno-Oncology Drugs harness the power of the body’s immune system to fight cancer by targeting specific checkpoints that help tumors evade immune response. These drugs help in improving survival and quality of life for patients suffering from various types of cancers including lung cancer, melanoma, kidney cancer, bladder cancer, head and neck cancer, and others. With rapid urbanization and increasingly sedentary lifestyles, cancer prevalence in India has grown significantly in the recent decades. According to WHO, cancer burden in India has risen to over 2 million new cases and nearly 1 million cancer deaths in 2020. The growing cancer patient pool is driving increased demand for advanced treatment options like Immuno-Oncology drugs in the country.
The global 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 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the India immuno-oncology drugs market is drug combinations to enhance treatment efficacy. Most cancer drugs when used alone have limited impact but their effect is greatly amplified when used in synergistic combinations. Drug combinations help in overcoming resistance and suppressing tumor evolution. As a result, companies are increasingly focusing on developing combination therapies using immune checkpoint inhibitors along with other cancer treatment drugs. For instance, Bristol-Myers Squibb’s Opdivo plus Yervoy combination for lung cancer indication. Such combination therapies are expected to witness higher adoption in India and fuel the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the Indian immuno-oncology drugs market requires a high initial capital investment for R&D and manufacturing facilities.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many established players providing low cost generic drugs.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers for manufacturing immuno-oncology drugs.
Threat of new substitutes: The threat of new substitutes is low as immuno-oncology drugs treat cancer in a unique way by enhancing the body’s immune response against tumor cells.
Competitive rivalry: The competitive rivalry is high owing to the presence of many national and multinational players offering immuno-oncology drugs.
Key Takeaways
The global India Immuno-Oncology Drugs Market Growth is expected to witness high growth over the forecast period. Growth is majorly driven by the increasing prevalence of cancer cases in India. The global 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 4.2% over the forecast period 2023 to 2030.
Regional analysis: The Western region dominates the India Immuno-Oncology Drugs market owing to the presence of advanced healthcare facilities in states like Maharashtra and high awareness about cancer treatment options in this region.
Key players: Key players operating in the India Immuno-Oncology Drugs market are Fort Dearborn, Multi Color Corporation, and Mondi Group.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
