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(Medical-NewsWire.com, May 09, 2018 ) Latin America Immunotherapy Drugs Market is estimated to be USD 3.42 billion and is projected to reach USD 5.36 billion by 2021 with a significant CAGR of 9.4%. The need for immunotherapy drugs is on the rise with the increase in number of autoimmune diseases and cancer incidences. This coupled with the lesser side effects of Immunotherapy drugs is expected to result in a positive outlook of the market in the review period.
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Immunotherapy is a type of treatment for cancer which enhances the immune system to fight against cancer. Immunotherapies either stimulates the activity done by a particular component of the immune system or counteract the immune system produced by the cancer cells suppressing the immune responses.
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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Latin America Immunotherapy Drugs are classified based on the type of drugs and by application. Based on the type of drugs, the market is categorised into checkpoint inhibitors, monoclonal antibodies, vaccines, interleukins and interferons. On the basis of application the market is categorised into Cervical Cancer, Lung Cancer, Blood Cancer, Glioblastoma, Breast Cancer, Prostate Cancer, Gastric Cancer and Melanoma. On the basis of geography, Latin America market is segmented into Mexico, Brazil and Argentina.
The major companies leading in the Immunotherapy drugs industry include Novartis, Seattle Genetics, Eli Lilly, GlaxoSmithKline PLC, AstraZeneca, Amgen, Bristol Myers Squibb, Roche, Merck and Merck.
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