The immuno-oncology drugs market has witnessed significant growth in recent years owing to the advantages that immuno-oncology drugs provide in cancer treatment. Immuno-oncology drugs help boost the body's natural defenses to fight cancer in a more effective way. These drugs are also more targeted towards cancer cells and have fewer side effects compared to traditional chemotherapy. The rising prevalence of cancer globally is a major factor driving the demand for effective treatment options like immuno-oncology drugs.

The global immuno-oncology drugs market is estimated to be valued at US$ 118 Billion in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the immuno-oncology drugs market are Bristol-Myers Squibb, Merck & Co., Roche, and AstraZeneca.

The market provides several opportunities for players in developing combination therapies and Immuno-oncology Drugs Market Size with novel mechanisms of action. The market is also witnessing significant M&A activities amongst players to strengthen their product pipelines.

Globally, there is immense growth potential for immuno-oncology drugs in emerging markets of Asia Pacific and Latin America driven by the increasing disposable incomes, healthcare reforms, and growing cancer burden. Manufacturers are focusing their expansion strategies in these emerging regions.

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