Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Immunology is a discipline of medical and biological research that studies the immune system. The immune system defends us against infection in a variety of ways. Diseases such as autoimmunity, allergies, and cancer can occur when the human immune system is not operating properly. Autoimmune diseases occur when the immune system attacks the body that it’s meant to protect. People suffering from autoimmune diseases have a defect that makes their immune system unable to distinguish 'self' from ‘non-self’ or 'foreign' molecules. Immunology provides a wide variety of laboratory tests for the detection of autoimmune diseases.
The global immunology market is estimated to be valued at US$ 91,850 Million in 2021 and is expected to reach US$ 156,378.2 million by 2028, at a CAGR of 8% during the forecast period (2021–2028).
Figure 1. Global Immunology Market Value (US$ Mn) & Y-o-Y Growth (%)
Recent product approvals by regulatory agencies is expected to drive the market growth over the forecast period.
The approval of new drugs and the trends of improvements in clinical efficiencies will bode well for the global immunology industry. For instance, the Food and Drug Administration (FDA) granted AbbVie permission to use ‘SKYRIZI' in 2019. The medication was developed to treat moderate to severe plaque psoriasis. This medication was designed to treat adults with psoriasis who had been prescribed or were receiving treatment.
Figure 2. Global Immunology Market Share, By Drug Class, 2021
Global Immunology Market – Regional Analysis
Globally North America has the largest share in immunology drug market because of the availability of better reimbursement policies, high potential to invest a huge amount of money in the development of immunology drugs, and due to the advancement of technologies. Moreover, because of the easy accessibility to immunology medications and the high affordability of therapy, Europe is the second largest region in terms of market value. Increase in awareness, rising economy, increasing government initiatives, and large patient pool in Asia-Pacific regions also demonstrate a high growth in global immunology market.
Immunology Market Report Coverage
||Market Size in 2021:
||US$ 91,850 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 156,378.2 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Drug Class: Monoclonal Antibody (mAb), Fusion Proteins, Immunosuppressants, Polyclonal Antibody (pAb), Others
- By Disease Indication: Rheumatoid Arthritis, Psoriatic Arthritis, Plaque Psoriasis, Ankylosing Spondylitis, Inflammatory Bowel Disease, Prophylaxis of Organ Rejection, Others
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
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.
- Increasing prevalence of autoimmune disorders
- Increasing product approvals by regulatory agencies
- Increasing funding from the various government and non-government organizations
|Restraints & Challenges:
- High cost of immunology drugs
- Adverse effects associated with these drugs
- Lack of awareness
Global Immunology Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it as a public health emergency in 2020. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported globally as of August 2, 2021 are approximately 198,234,951 confirmed cases with around 4,227,359 deaths. The coronavirus or COVID-19 outbreak started from Wuhan, China and has spread across continents, affecting various industries globally.
The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss, this is owing to the lockdown announced by the government agencies, due to which several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries are likely to bring the economy back on track, and aid in the resumption of industrial activities.
Global Immunology Market: Restraint
High costs of immunology drug, adverse effects associated with these drugs, and lack of awareness are the major factors that can hinder the growth of the global immunology market. For instance, according to data reported by the New York Times from SSR health, a research firm, the price of Humira (a prescription injection used to treat rheumatoid arthritis and other conditions) has gone up from about US$ 19,000 a year (in 2012) to more than US$ 38,000 a year (in 2019) per patient.
Major players operating in the global 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.