Is argenx SE (ARGX) the Best Immunotherapy Stock to Buy Now?
In This Article:
- The global immunotherapy drugs market is expected to grow from $240 billion in 2023 to $1.3 trillion by 2033, driven by the increasing prevalence of chronic diseases such as cancer and autoimmune diseases.
- The demand for immunotherapy is expected to continue growing, with over 2 million new cancer cases expected in the US in 2024, and organizations developing new immunotherapies to provide hope for patients with hard-to-treat cancers.
- argenx SE (NASDAQ:ARGX) is a global immunology company developing treatments for autoimmune diseases, and its recent FDA approval for VYVGART Hytrulo in CIDP showcases its leadership in autoimmune therapies, with analysts giving it an average rating of Strong Buy.
- argenx SE (NASDAQ:ARGX) ranks 6th on the list of the best immunotherapy stocks to buy, with a promising outlook due to its recent FDA approval and encouraging results, but its potential is considered lower compared to AI stocks.
We recently compiled a list of the 10 Best Immunotherapy Stocks to Buy Now. In this article, we are going to take a look at where argenx SE (NASDAQ:ARGX) stands against the other immunotherapy stocks.
The global immunotherapy drugs market is rapidly expanding, with projections to grow from $240 billion in 2023 to $1.3 trillion by 2033. The growth is driven by the global rise in chronic diseases such as different types of cancer, autoimmune diseases, and infections.
Cancer, particularly is becoming more prevalent among people globally. The American Cancer Society recently released its 2024 Global Cancer Statistics report, which highlights the increasing burden of cancer worldwide. In 2022 alone, approximately 20 million new cancer cases were diagnosed, and 9.7 million people died from the disease. By 2050, annual cancer cases are expected to reach 35 million, driving demand for innovative treatments like immunotherapy.
Immunotherapy offers a promising alternative to traditional therapies, and its applications are expanding as research advances. It can be applied to various types of cancer, either alone or alongside treatments like chemotherapy. Immunomodulating agents, a type of non-specific immunotherapy, help improve the body’s immune system's capability of detecting and attacking cancer cells.
Read Also: 10 Best Biotech Stocks To Buy Under $20 and 10 Best Cancer Stocks To Buy Now.
Due to the growing demand for treatments, leading pharmaceutical companies are also investing heavily in research and development to expand the range of immunotherapy drugs available. These include immune checkpoint inhibitors, CAR-T cell therapies, and monoclonal antibodies. Combining different therapies and tailoring treatments to individual patients is helping to unlock new applications for immunotherapy, positioning it to revolutionize cancer care and other areas of medicine.
North America led the global immunotherapy drugs industry in 2023, capturing over 48.19% of total revenue, driven by medical advancements and regulatory approvals, particularly in the US. The FDA's approval of immunotherapy for cancers with specific genetic traits, regardless of origin, highlights the region's leadership in innovative treatments like tumor-agnostic therapies.
With over 2 million new cancer cases expected in the US in 2024, demand for effective treatments like immunotherapy will continue to grow. Organizations such as Canada’s National Research Council are also developing new immunotherapies, aiming to provide hope for patients with hard-to-treat cancers like B-cell leukemia and lymphoma.
