The global immunology market is estimated to be valued at US$91,850 million in 2021 and is expected to exhibit a CAGR of 8% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview: The immunology market involves the study of the immune system and its malfunctioning, primarily focusing on the diagnosis, treatment, and prevention of autoimmune diseases. With the rising prevalence of autoimmune diseases such as rheumatoid arthritis, multiple sclerosis, and lupus, there is a growing demand for immunology products and therapies. These products play a crucial role in modulating and suppressing the immune response to manage and treat these diseases. The advantages of immunology products include reduced inflammation, improved quality of life for patients, and long-term remission. The increasing need for effective treatments and therapies to address the significant burden of autoimmune diseases is driving the growth of the immunology market. Market Key Trends: One key trend observed in the immunology market is the development and adoption of biologics. Biologic drugs derived from living organisms are becoming increasingly popular in the treatment of autoimmune diseases. These drugs have shown significant efficacy in managing symptoms and improving the quality of life for patients. Biologics target specific components of the immune system, such as cytokines or cell surface proteins, to regulate the immune response. The growing preference for biologic therapies, along with advancements in biotechnology and genetic engineering, is propelling the growth of the immunology market. Moreover, there is a rising emphasis on personalized medicine in immunology. With a better understanding of the immune system and advancements in diagnostics, healthcare providers are increasingly tailoring treatments to individual patients based on their unique immune profiles. Segment Analysis: The immunology market can be segmented based on product type, application, and end-user. Among these segments, the dominant sub-segment is the rheumatology segment. Rheumatology products are used to treat various autoimmune diseases such as rheumatoid arthritis, lupus, and psoriatic arthritis. The rheumatology segment is expected to dominate the immunology market due to the high prevalence of autoimmune diseases and the increasing number of patients seeking treatment for these conditions. Moreover, advancements in biologic therapies targeting specific pathways in the immune system have significantly improved outcomes for patients with autoimmune diseases. Therefore, the rheumatology segment is expected to witness high growth and contribute significantly to the overall market revenue. Key Takeaways: The global Immunology Market Share is anticipated to experience significant growth, with a projected CAGR of 8% during the forecast period of 2021-2028. This growth can be attributed to several factors. Firstly, the rising prevalence of autoimmune diseases worldwide is driving the demand for immunology products and therapies. As the incidence of autoimmune diseases such as rheumatoid arthritis, multiple sclerosis, and inflammatory bowel disease continues to increase, the need for effective treatments boosts the market growth. Additionally, the aging population and the associated increase in chronic diseases also contribute to the market's expansion. Regionally, North America is expected to be the fastest-growing and dominating region in the immunology market. The region's dominance is attributed to factors such as a well-established healthcare infrastructure, high healthcare expenditure, and a large patient population. Moreover, the presence of key market players in the region, along with ongoing research and development activities, further drives the growth of the immunology market in North America. Key players operating in the immunology market include AbbVie Inc., Janssen Global Services, Johnson & Johnson, F. Hoffmann-La Roche Ltd, Amgen Inc., Pfizer Inc., Novartis, Astellas, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., UCB SA, and Allergan plc. These companies are engaged in strategic collaborations, product launches, and acquisitions to strengthen their market position. They focus on developing innovative therapies and expanding their product portfolios to cater to the growing demand for immunology products and treatments. These key players play a crucial role in driving market growth and shaping the competitive landscape of the immunology market. Read More, https://www.insightprobing.com/immunology-market-trends-size-and-share-analysis-2/
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