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(MoneyNewsWire.Net, April 18, 2018 ) Europe Immunotherapy Drugs Market is currently worth USD 15.05 billion in 2016 and is forecasted to reach USD 24.9 billion by 2021 having a growth rate (CAGR) of 10.6%. The usage of immunotherapy drugs is on the rise with the increases cases of cancer and autoimmune diseases. And also, owing to its lesser side effects, the market is likely to propel in the forecast period.
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Immunotherapy is a way of treating cancer by enhancing the innate power of the immune system. The treatment involves using the individual’s own immune system to fight cancer cells. It either stimulates the function of each particular component of the immune system or act against the signals caused by the cancer cells suppressing the responses by the immune system. These properties of the immunotherapy drugs to be able to aid the immune system fight against the abnormal cells makes them being successfully used against the diseases like infection, cancer, autoimmune and respiratory disorders.
Rising incidences of cancer and other autoimmune diseases has led to innovations in the development of drugs with the help of technological advancements. The others factors responsible for the growth of the market includes emergence of biosimilars, higher efficacy than the common drugs with lower side effects and reduction in the overall time of developing and testing of new drugs. However, the market is restrained by the higher cost related to the treatment and lower accessibility.
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Europe Immunotherapy Market is classified based on the drug type and its application. By type of drug, the market is segmented as interferons, monoclonal antibodies, vaccines, interleukins and checkpoint inhibitors. Based on application of the drug, the market is classified as blood cancer, Glioblastoma, Gastric Cancer, Lung Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer and Melanoma. By geography, the market in Europe is categorised as United Kingdom, Germany, France, Italy and Spain.
Some the major companies in the Immunotherapy Drugs industry include Eli Lilly, Bristol Myers Squibb, Roche, Novartis, Amgen, Merck, AstraZeneca, Celgene, Seattle Genetics and GlaxoSmithKline PLC.
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