The growth of the global market is largely driven by the increased investment and funding, strong pipeline, and improved safety and efficacy.
The global programmed death-1 (PD-1) and programmed death ligand-1 (PD-L1) inhibitors market is valued at an estimated $4,926.4 million in 2016, and it is expected to grow at a CAGR of 23.4% during 2017 - 2025.
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Some of the other factors driving the growth of the global market include technological advancements and innovations, and high prevalence of cancer. Less number of competitors and expected launch of Phase III drug candidates will create ample growth opportunities for the global market.
However, high cost of research and therapy, and stringent and time consuming regulatory process are the key barriers for the growth of the global market.
PD-1 and PD-L1 inhibitors are highly growing immunotherapies that are being used in oncology therapy area. The pipeline of PD-1 and PD-L1 inhibitors is enriched with 47 drugs and there are approximately 245 active clinical studies.
There are many drugs in early stage of pipeline; thus, making PD1 and PDL1 inhibitors market very lucrative.
Among the two mechanisms of action, the PD-1 inhibitors were estimated to contribute 97.2% to the global PD-1 and PD-L1 inhibitors market in 2016. However, the approval of Tecentriq and expected approval of durvalumab and avelumab during forecast period will significantly increase PD-L1 inhibitors revenue contribution to the global market.
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Some of the key players operating in the global market include Merck & Co., Inc., Bristol-Myers Squibb Company, AstraZeneca plc and others.
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