Immunology Market Size, Share, Analysis and Forecast 2021-2028

In 2020, the global immunology market was worth USD 85.74 billion. The global impact of COVID-19 has been unprecedented and devastating, with demand for immunology medications falling across all areas as a result of the epidemic. According to our calculations, the global market will grow at a slower rate of 4.2 percent in 2020 than it did on an annual basis between 2017 and 2020. During the period 2021-2028, the market is expected to increase at an annual rate of 8.1 percent, from USD 92.00 billion in 2021 to USD 158.69 billion in 2028. The abrupt increase in CAGR is due to the demand and expansion of this market, which will return to pre-pandemic levels once the pandemic is gone.

Immunology medications or chemicals alter the immune system's response by either increasing or inhibiting it. They're used to fight infections, as well as to prevent and cure autoimmune and immunological illnesses.

The rise in knowledge of immunological diseases in both emerging and developed countries, as well as the rising frequency of immunological disorders caused by environmental factors, are driving the global market forward. Furthermore, current global market players are focusing on ongoing innovation and upgrading their product range in order to provide better treatment outcomes for patients. During the forecast period, this is expected to boost market growth.

COVID-19 Pandemic Had Minimal Impact on Immunology Market Growth Due to Strong Efforts by Key Players

The outbreak of COVID-19 has had only a little influence on the sales of immunology medications. During the market, the majority of market participants reported no decrease in sales of products relevant to this market. This was due to a single fundamental factor: pharmaceutical businesses dramatically improved their supply chain management and increased their capacities.

However, due to the COVID-19 pandemic, a few market companies, like as F. Hoffmann-La Roche Ltd, saw a drop in sales from medications in the immunology area. As a result, the market's growth in 2019-2020 will be weaker. Furthermore, the market's sluggish growth might be ascribed to the recent loss of patents on blockbuster medications, the postponement of regulatory approvals for new drugs and biosimilars during the pandemic, minor supply chain problems, and delayed or cancelled patient visits to hospitals and clinics.