A GlobalData report estimates that two drugs, Keytruda and Opdivo, are estimated to account for 50% of the global immuno-oncology market by 2024.
The global immuno-oncology market is estimated to witness a compounded annual growth rate (CAGR) of approximately 20% over the five-year period between 2019 and 2024.
Being early entrants to the market, Keytruda and Opdivo stand to benefit from the growth and this segment is anticipated to witness over the coming decade due to changes in cancer treatment.
The ‘Cancer Immunotherapies – Strategic Analysis‘ report forecasts immuno-oncology to be a $34bn market by 2024, led by Keytruda with $10bn in sales followed by Opdivo, with $7bn.
It further predicts that Keytruda and Opdivo, respectively developed by Schering Plough / Merck and Co. and Bristol-Myers Squibb, will outsmart their biggest competitors, namely atezolizumab from Roche and durvalumab from AstraZeneca.
Even late-entrants can benefit from the opportunities in immuno-oncology market by researching on combination drugs as the leading drugs reach saturation, says GlobalData’s senior analyst Dan Roberts, Ph.D.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
He adds that companies such as AstraZeneca, which are famous for developing novel combination drugs, are well-positioned to achieve that.
Roberts comments: “Commercial success of new immuno-oncology drugs will, however, depend mainly upon how quickly they are launched in the market and the marketing strength of the associated company.”
He further adds that the number of target patients is also a determinant.
Image: Keytruda was developed by Merck. Photo: courtesy of Merck.