Multi-blockbuster drugs will drive immuno-oncology market to $34 billion by 2024; Report

The total immuno-oncology market will be worth around $14 billion by 2019, rising to $34 billion by 2024, as the treatment of cancer patients undergoes drastic changes over the next decade, new research indicates.

According to research and consulting firm GlobalData’s latest report, the approval and uptake of immuno-oncology products is set to burgeon due to increased recognition of their long and durable tumor responses, which are similar to targeted therapies. Furthermore, these treatments have shown efficacy in a wide variety of indications and are not associated with the adverse side effects produced by traditional chemotherapy such as fatigue, neutropenia, or alopecia, the report notes.

Dan Roberts, GlobalData’s senior analyst covering oncology and hematology, says: “Immuno-oncology products have demonstrated comparable respective efficacy and safety profiles, so their commercial success will largely rest on the speed with which they enter the market, their clinical and commercial positioning, target patient populations, and the marketing power of the relevant pharmaceutical company.”