PD-1 and PD-L1 Inhibitor Market Future Business Opportunities 2023-2028 | Pfizer Inc., Novartis AG, AstraZeneca PLC
The global
PD-1 and PD-L1 inhibitor market was valued at US$
30,535.5 Mn in 2021 and is forecast to reach a value of US$ 77,541.1 Mn by 2028 at a CAGR of 14.2% between 2022 and 2028. The global PD-1 and
PD-L1 inhibitor market is experiencing strong growth due to the rise in
incidence or prevalence of cancer and growing geriatric population around the
world. Moreover, increase in awareness among people about immune checkpoint
inhibitors is expected to boost the growth of the market. However, high cost of
cancer treatment and risk of complications associated with the treatment is
expected to hamper growth of the global PD-1 and PD-L1 inhibitor market.
Global PD-1 and PD-L1 Inhibitor Market: Regional
Insights
Based on geography, the PD-1 and
PD-L1 inhibitor market is segmented into North America, Latin America, Europe,
Asia Pacific, and Middle East & Africa.
Among regions, North America is
expected to gain highest share in the market during the forecast period owing
to the increasing prevalence of cancer and favourable initiatives by the
regulatory authorities in the region, especially in the United States. For
instance, PD-1 and PD-L1 inhibitors are vital immune checkpoint inhibitors used
to treat variety of cancer. According to the American Cancer Society, in 2022,
there will be an estimated 1.9 million new cancer cases diagnosed and 609,360
cancer deaths in the United States. This in turn is expected to increase demand
for PD-1 and PD-L1 inhibitors in the region.
Asia Pacific is also expected to
witness significant growth in the global PD-1
and PD-L1 inhibitor market owing to the high prevalence of cancer
together with growing geriatric population in this region, especially in India.
For instance, according to the cancer report by the Indian Council of Medical
Research (ICMR), India’s cancer cases could increase by 12% in the next five
years, with 1.5 million people projected to suffer from the non-communicable
disease by 2025, up from 1.39 million in 2020. This in turn is expected to
increase demand for PD-1 and PD-L1 inhibitors.
Global PD-1
and PD-L1 Inhibitor Market Restraints:
High cost of cancer treatment is
expected to hamper growth of the global PD-1 and PD-L1 inhibitor market. For instance,
on average, the cost of cancer treatment in India is around INR 503,118 (US$
6,300) with a minimum expense of INR 90,561 (US$ 1,134) and maximum cost of INR
27,67,149 (USD 34,650). Moreover, the cost of available PD-1 and PD-L1
inhibitors is high, however, the cost of cancer treatment depends on the stage
of the cancer.
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