The Global Immunology Market is likely to expand in the coming years driven by the high prevalence of immunological disorders, resulting from environmental factors. According to a report published by Fortune Business Insights, titled “IMMUNOLOGY: GLOBAL MARKET ANALYSIS, INSIGHTS, AND FORECAST, 2019-2026,” the market was valued at US$ 77,365.4 Mn in 2018. Fortune Business Insights has predicted that the market will reach US$ 143,833.2 Mn by 2026 and will exhibit a CAGR of 8.1%.
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Some of the major companies that are present in the Global Immunology Market are;
- AbbVie Inc.
- Janssen Global Services, LLC (Johnson & Johnson)
- Hoffmann-La Roche Ltd
- Amgen Inc.
- Pfizer Inc.
- Novartis AG
- Bristol-Myers Squibb Company
- Merck Sharp & Dohme Corp.
- UCB SA
- Other Prominent Players
The global immunology market is likely to expand in the coming years driven by the high demand for immunology drugs resulting from the high prevalence of immunological disorders. The severity of immunological disorders has created an increasing awareness around the world. Various initiatives and advisory programs have been conducted by the government as well as public organizations. This, in turn, will fuel the demand for immunology drugs. Furthermore, the increased efficiency of immunology drugs has contributed to better patient outcomes, which in turn has led to the subsequent growth of the global immunology market.
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Recent Product Approvals by Regulatory Agencies to Bode Well for the Overall Market
The spate of recent regulatory approvals for the immunology products is anticipated to contribute to the overall positive growth of the market. For instance, the recent regulatory approval and the subsequent launch of TREMFYA (Guselkumab) by Janssen Global Services, LLC (Johnson & Johnson), is expected to lead to a better outcome for the patients. TREMFYA (Guselkumab) was launched for the treatment of moderate to severe plaque psoriasis, a seriously debilitating immunological disorder. TREMFYA is the only biologic approved for the treatment of moderate to severe plaque psoriasis, that selectively blocks the interleukin (IL)-23, leading to a vast improvement in the symptoms of the patient. Apart from being one of the emerging drugs of the immunology market, Fortune Business Insights predicts that Janssen Global Services, LLC (Johnson & Johnson) latest product offering will have a positive impact on the global immunology market in the forthcoming years.
AbbVie Gains FDA Approval of SKYRIZI; Product to Witness High Demand in No Time
The global immunology market has gained impetus from the availability of several regulatory approved drugs. The approval of new drugs and the trends of improvements in clinical efficiencies will bode well for the global immunology market. In 2019, AbbVie received approval from the Food and Drug Administration (FDA) for the usage of ‘SYRIZA’. The drug was aimed at the treatment of moderate to severe plaque psoriasis. This drug was inclined towards the treatment of adults diagnosed with psoriasis and have been recommended for or undergoing therapy. The drug is likely to gain huge popularity among healthcare professionals and its high clinical efficacy will fuel the demand in the coming years.
Besides product launches and drug approvals, Fortune Business Insights assesses several other factors that have made significant growth contributions to the global immunology market. Companies are encouraged by the growing usage approvals by regulatory authorities across the world. Several company mergers and acquisitions have also accounted for the growth of the global immunology market. Some of the leading companies that are operating in the global immunology market are AbbVie Inc., Janssen Global Services, LLC (Johnson & Johnson), F. Hoffmann-La Roche Ltd, Amgen Inc., Pfizer Inc, Novartis AG, Astellas, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., UCB SA, and ALLERGAN.
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