by Immunology involves the study of the immune system and its functions like recognizing foreign substances and neutralizing them. It covers various areas like immunodiagnostics, immunotherapy, transplant immunology. The rising burden of chronic diseases and infections globally has fueled the demand for immunology products like antibodies, immunoassays, flow cytometry which help in disease diagnosis and management.
The global Immunology Market is estimated to be valued at US$ 107133.84 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing awareness about immunodeficiency diseases among patients and clinicians is a major trend driving the immunology market. Immunodeficiency diseases affect the body’s ability to fight infections and diseases. Their prevalence has witnessed an upward trend due to changing lifestyle and environmental factors. Spreading awareness about early diagnosis and management of these conditions through social media campaigns, health programs etc helps people seek timely intervention. This has contributed to the demand for immunology products which help identifying immunodeficiencies and monitoring treatment response. Growing knowledge in this regard will continue propelling the immunology market during the forecast period.
SWOT Analysis
Strength: The immunology market has strong growth potential due to increasing prevalence of chronic diseases and rising healthcare spending.
Weakness: High costs associated with R&D of new immunology drugs and biosimilars.
Opportunity: Increasing approval and launch of novel immunology drugs for treatment of various indications.
Threats: Stringent regulatory pathways for approval of immunology drugs and emergence of alternative treatment options.
Key Takeaways
The Global Immunology Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Immunology Market is estimated to be valued at US$ 107133.84 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030.
Asia Pacific is expected to grow at the fastest CAGR during the forecast period due to rising healthcare spending, increasing generic utilization, and presence of major generic manufacturers in the region. North America currently dominates the market and is expected to continue its dominance over the forecast period.
Key players operating in the immunology market are Production I.G, Inc., Studio Ghibli, Inc., Pierrot Co., Ltd., Sunrise Inc., Toei Animation Co., Ltd., BONES INC, Kyoto Animation Co.,Ltd., MADHOUSE Inc., Manglobe Inc., and PAWORKS Co., Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
