INDIA IMMUNO-ONCOLOGY DRUGS MARKET ANALYSIS

Immuno-oncology is an advanced approach to cancer treatment through encouragement of immune system. Immune checkpoint inhibitors is the most well-established immune-oncology agent, which has exceptional success results overall multiple malignancies, with many approvals.

There are still many challenges in managing the toxicities and ensuring that healthcare systems in oncology, even if the immuno-oncology agents are changing the quality for life with cancer rapidly.

Moreover, development of immune-oncology drugs covers a wide range of agents such as proteins, adjuvants, peptides, antibodies, bi-specific molecules, and cellular therapies.

India immuno-oncology drugs market is estimated to be valued at US$ 265 Mn in 2021 and is expected to exhibit a CAGR of 13.1% during the forecast period (2021 -2028).

Figure 1. India Immuno-Oncology Drugs Market (US$ Mn), By Drug Type, 2021

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Figure 1.1. India Immuno-Oncology Drugs Market (US$ Mn), By Drug Type, 2028

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Figure 2. India Immuno-Oncology Drugs Market (US$ Mn), By Cancer Type, 2021

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Figure 2.1. India Immuno-Oncology Drugs Market (US$ Mn), By Cancer Type, 2028

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The increasing developments and product launches are expected to drive the market growth over the forecast period.

For instance, researchers from Tata Centre for Technology and Design, IIT Bombay, are currently working on developing indigenous CAR T-cell therapy, affordable to cancer patients in the India.

India Immuno-Oncology Drugs Market – Impact of Coronavirus (Covid-19) Pandemic

The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The shutdown disrupted the supply, distribution, and manufacturing of medical supplies globally. Moreover due to social distancing, footfall in clinics and health institutions was observed which has led to a decrease in the number of surgical procedures, clinical trials, research and development activities, and others, which has negatively impacted the market growth.

As stated by National Cancer Institute, bacteria and viruses have potential role in development of cancer. Nearly 1 in 4 cases of cancer are infectious by virus in developed countries and 1 in 10 cases in undeveloped countries.

Being at high risk of COVID-19, the cancer patients are at highest risk from COVID-19 infection, such as utilization of ICU and invasive ventilation in comparison to non-cancer COVID-19 patients.

India Immuno-Oncology Drugs Market: Restraint

High cost of immuno-oncology therapies makes it unaffordable for population in the low- and middle-income class to opt for these therapies, which is expected to restrain growth of the market. For instance, Keytruda (Pembrolizumab), a monoclonal antibody used for the treatment of various types of cancer costs around US$ 2,250 for a vial of 50 mg.

Moreover, according to the World Health Organization (WHO), in February 2018, around 70% of deaths from cancer occur in low and middle-income countries. This can be attributed to high prices of oncology therapies, which cannot be afforded by patients with low income.

Key Players

Major 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.