CYTOKINE MARKET ANALYSIS

Cytokine MarketSize and Trends

The global cytokine market was valued at US$ 77,796.1 Mn in 2021 and is forecast to reach a value of US$ 141,667.1 Mn by 2028 at a CAGR of 8.9%between 2022 and 2028. The global cytokine market is experiencing strong growth due to the increase in burden of cancer around the world and rising number of diagnostic, therapeutic, and prophylactic applications of cytokines. The outbreak of COVID-19 (global pandemic) is also expected to boost the growth of the market. However, high costs of cytokines-based therapies and lack of specificity are some major factors are expected to hinder growth of the global cytokine market.

Global Cytokine Market Trends:

Increase in use of cytokine-based immunotherapy is expected to drive the growth of the global cytokine market. For instance, Cytokine-based immunotherapy is a promising field in cancer treatment. Thus, with the increase in cancer prevalence, use of cytokine-based immunotherapy is also increasing. FDA has approved IFN-α and IL-2 for cancer treatment.

Frequent approvals and launches of novel products/therapies is expected to propel growth of the global cytokine market. For instance, in January 2022, the Food and Drug Administration (FDA) approved the new label update for CAR T-Cell Therapy Yescarta showing prophylactic steroid use improves management of cytokine release syndrome.