Global PD-1 and PD-L1 Inhibitors Market 2019-2023
About this market
Special drug designations to drive the market growth. One of the major benefits that some of the PD-1 and PD-L1 inhibitors have is the special drug designations given by the regulatory bodies. Many of these drugs have received designations such as breakthrough designation and fast track designation from the US FDA. the EMA. and other regulatory bodies. Vendors who have received these designations for their molecules will get certain benefits. Technavio’s analysts have predicted that the PD-1 and PD-L1 inhibitors market will register a CAGR of over 19% by 2023.
Increasing prevalence of cancer
Globe yearly prevalence of cancer has seen a significant rise in recent years, and the global oncology therapeutics market has witnessed the approval of various novel therapies. The gap between the demand and supply of these therapies has resulted in a huge unmet need, which has created an opportunity for vendors to conduct a study on drugs such as PD-1 and PD-L1 inhibitors.
Failures in clinical trials
The global pharmaceuticals market has witnessed a significant increase in the number of trials being conducted for checkpoint inhibitors in recent years. The top six drugs that are currently approved are also in the clinical stages for the treatment of various other cancers.
For the detailed list of factors that will drive and challenge the growth of the PD-1 and PD-L1 inhibitors market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Merck and Pfizer the competitive environment is quite intense. Factors such as the special drug designations and the increasing prevalence of cancer, will provide considerable growth opportunities to PD-1 and PD-L1 inhibitors manufactures. AstraZeneca, Bristol-Myers Squibb, F. Hoffmann-La Roche, Merck, and Pfizer are some of the major companies covered in this report.
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