The Immune System Activation To Fight Cancerous Cells Is Anticipated To Openup The New Avenues For India Immuno-Oncology Drugs Market

India Immuno-Oncology Drugs Market


The India Immuno-Oncology Drugs Market is estimated to be valued at US$ 338.98 Mn or 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 involve activation of the immune system and immune responses against cancerous cells. They are classified into various types such as monoclonal antibodies, checkpoint inhibitors, targeted cancer immunotherapies, and non-specific immunotherapies. Key products available in the market are Nivolumab, Pembrolizumab, Atezolizumab, and Durvalumab. These help enhance the immune system's ability to fight against cancer by blocking tumor growth and spreading to other parts of the body.

Market Dynamics:
The India immuno-oncology drugs market is primarily driven by the rising prevalence of various cancers in India. According to World Health Organization (WHO), cancer burden in India has risen dramatically over the last few decades. In 2020, there were 1.39 million new cancer cases and 703,000 deaths from cancer in India. Lung, breast, and colorectal cancers account for the major share in cancer cases. Furthermore, growing awareness about cancer treatment options coupled with favorable government policies is also fueling the demand for immuno-oncology drugs in the country. However, high costs of branded immuno-oncology drugs may restrain the market growth.

Segment Analysis
The India immuno-oncology drugs market is segmented into monoclonal antibodies, cancer vaccines, checkpoint inhibitors, and others. The checkpoint inhibitors segment currently dominates the market owing to the rising demand for checkpoint inhibitors for the treatment of various cancers like lung cancer, melanoma, and renal cell carcinoma. Checkpoint inhibitors are highly preferred for cancer immunotherapy as they are more effective and have fewer side effects than traditional chemotherapy.

PEST Analysis
Political: The Indian government's focus on improving healthcare infrastructure and increasing healthcare expenditure is promoting the growth of the immuno-oncology drugs market. Various initiatives to make cancer treatment more affordable are also boosting market growth.
Economic: The growing per capita healthcare expenditure and disposable income levels are encouraging Indians to opt for advanced treatment options like immuno-oncology, despite the high cost of these drugs.
Social: Rising cancer incidence due to changing lifestyles and growing health awareness are fueling the adoption of new treatment methods like immuno-oncology. Higher social acceptability of immunotherapy over traditional treatment is supporting market expansion.
Technological: Rapid advancements in fields of biotechnology and nanotechnology have led to development of novel immuno-oncology drugs and drug delivery mechanisms with improved efficacy and fewer side effects.

Key Takeaways
India Immuno-Oncology Drugs Market Demand is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing incidence of cancer and preference for less toxic targeted therapies. India reported over 1.4 million new cancer cases in 2020 and cancer-related mortality is steadily rising. This is driving demand for effective drugs like immuno-oncology medications.

The Western region currently dominates India's immuno-oncology drugs market owing to concentration of major cancer treatment facilities in states like Maharashtra and high awareness. However, Eastern India is expected to showcase fastest growth during the forecast period led by improving healthcare access in West Bengal and growing pharmaceutical industry presence in Odisha.

Key players operating in the India immuno-oncology drugs market include 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. Major players are focusing on developing novel combination therapies and expanding their geographic presence through collaboration. 

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