Cancer Immunotherapy Market Report

Global Cancer Immunotherapy Market:

The global cancer immunotherapy market size reached US$ 118.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 261.0 Billion by 2032, exhibiting a growth rate (CAGR) of 8.92% during 2024-2032. The growing number of cancer cases, favorable government initiatives, and wide availability of medical insurance represent some of the key factors driving the market.

Global Cancer Immunotherapy Market Analysis:

• Major Market Drivers: The increasing cases of cancer on account of a poor balanced diet and consumption of toxic substances is one of the primary factors driving the growth of the market. In addition to this, the growing awareness about various cancer treatment options among the masses across the world is also contributing to the market growth.  
• Key Market Trends: The wide availability and easy access to medical insurance, along with the increasing healthcare expenditures, is offering lucrative growth opportunities to industry investors. In addition to this, the emerging preference for advanced treatment solutions with fewer side effects, like immunotherapy, is creating a positive outlook for the market.
• Geographical Landscape: On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market. 
• Competitive Landscape: Some of the leading players in the global cancer immunotherapy market include Amgen Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, GSK plc, Johnson & Johnson, Merck KGaA, Novartis AG, Pfizer Inc., Sanofi S.A, and Seagen Inc., among others. 
• Challenges and Opportunities: Different tumor types respond differently. However, in some cases, especially cold tumors immunotherapy is unresponsive, suggesting the presence of resistance. Hence, the development of intrinsic or acquired resistance is a big challenge as well as a significant opportunity for the market players in the immunotherapy field.
   

Global Cancer Immunotherapy Market Trends

Increasing Prevalence of Cancer

The rising number of cancer cases across the world is primarily driving the market for cancer immunotherapies. The International Agency for Research on Cancer (IARC) estimated that, in the year 2020, there were about 19.29 million cancer cases. These cases are projected to increase to 24.58 million cases by 2030. Such a substantial growth in cancer cases is augmenting the demand for effective treatment solutions like immunotherapies. According to GLOBOCAN, in 2020, there were approximately 2,281,658 new cancer cases diagnosed and 612,390 deaths due to cancer alone in the United States. In addition to this, lung cancer and breast cancer are two of the most common cancers found among individuals. The Canadian Cancer Society (CCS) stated that in 2020, nearly 29,800 Canadians were diagnosed with lung cancer, which accounted for 13% of all new cancer cases. About 21,200 Canadians were expected to die from lung cancer, which represented 25% of all cancer deaths in 2020. This indicates an inflating need for effective and more advanced cancer immunotherapy. Thus, the increasing demand for effective and lasting cancer treatment is anticipated to offer lucrative growth opportunities to the overall market. 

Rising Approval of Novel Immunotherapies

Various key market players are extensively investing in research and development activities to develop and introduce advanced and more effective immunotherapies. According to the National Clinical Trials (NCT) Registry, as of September 8, 2020, there were more than 1,000 ongoing clinical trials across the world for the development of cancer treatment with immune-based therapies. Moreover, government authorities and concerned regulators of numerous nations are taking initiatives to expedite the approval process of novel immunotherapies, which is anticipated to further catalyze the market growth. For instance, according to an article published by the American Association for Cancer Research, in July 2023, the FDA approved         quizartinib (Vanflyta) for treating different phases of newly diagnosed acute myeloid leukemia (AML). Quizartinib focuses on FLT3, a kinase that goes twisted in about one-third of AML cases. Similarly, in May 2021, the US FDA approved Amgen's LUMAKRAS (Sotorasib) for the treatment of patients with KRAS G12C, which involves mutated locally advanced or metastatic non-small cell lung cancer (NSCLC). LUMAKRAS is the first and only targeted treatment for NSCLC. Such developments are expected to propel the cancer immunotherapy market growth in the coming years.

Partnerships and Collaborations between Pharmaceuticals and Research Institutions

Various Strategic initiatives are being undertaken by major players to launch new products, which is creating a positive outlook for the overall market. For instance, in September 2023, Immatics and Moderna strategically collaborated to develop Oncology Therapeutics. The collaboration includes an assessment of Immatics investigational PRAME203 TCRT in combination with the MARTE mRNA cancer vaccine being developed by Moderna. Moreover, in August 2023, FBD Biologics Limited and Shanghai Henlius Biotech, Inc. entered into a strategic collaboration to boost the development of new immunotherapies. Similarly, in December 2023, BioMed X, a German research institution, announced a new joint research project with Ono Pharmaceutical Co. Ltd, a Japanese pharmaceutical company, to design next-generation immunotherapies by leveraging the antitumor effects of neutrophils. Several market players, such as Amgen Inc., AstraZeneca plc, Bayer AG, and Eli Lilly and Company, are involved in merger and acquisition activities. Through M&A activity, these companies are expanding their geographic reach and entering new territories. This, in turn, is projected to bolster the cancer immunotherapy market revenue over the forecasted period. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on therapy type, application and end user.

Breakup by Therapy Type:

• Monoclonal Antibodies
• Cancer Vaccines
• Checkpoint Inhibitors
• Immunomodulators
• Others
   

Currently, monoclonal antibodies hold the majority of the total market share

The report has provided a detailed breakup and analysis of the market based on the therapy type. This includes monoclonal antibodies, cancer vaccines, checkpoint inhibitors, immunomodulators, and others. According to the report, monoclonal antibodies represented the largest segment.

Increasing investment for research and development activities of monoclonal antibodies is opening new avenues for the growth of companies in the oncology therapeutics space. Monoclonal antibodies are extensively being studied for their therapeutic effects against various types of cancers. For instance, in August 2023, FDA approved Talvey to treat adult patients with relapsed or refractory multiple myeloma who have received at least four prior lines of treatment, including proteasome inhibitors, immunomodulatory agents and an antiCD38 monoclonal antibody.

Breakup by Application:

• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Melanoma
• Prostate Cancer
• Head and Neck Cancer
• Others
   

Among these, lung cancer currently exhibits a clear dominance in the market

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head and neck cancer, and others. According to the report, lung cancer accounted for the largest market share.

According to cancer immunotherapy market overview, the lung cancer segment accounted for the largest revenue share in the market. This can be attributed to the increasing prevalence of lung malignancies, the escalating adoption of immunotherapy, and the presence of a robust pipeline of investigational candidates. Furthermore, rising product approval and new product launches also providing a positive outlook to the market. For instance, in November 2023, the US Food and Drug Administration (FDA) granted marketing authorizations to Augtyro (Bristol, Inc.) for the treatment of locally refractory or metastatic Non-Small Cell Lung Cancer (NSCLC) with Repotrectinib.

Breakup by End User:

• Hospitals
• Cancer Research Centers
• Clinics
• Others
   

Hospitals account for the largest market share

A detailed breakup and analysis of the market based on the end user has also been provided in the report. This includes hospitals, cancer research centers, clinics, and others. According to the report, hospitals accounted for the largest market share.

Growing cases of cancer, increasing treatment rates, along with a large number of hospitals offering immunotherapies are contributing to a rise in the number of patients admitted to a hospital. To treat cancer, hospitals are increasingly utilizing immunotherapies. According to an article published by the National Cancer Institute, in April 2023, in the U.S. 25% of patients died in a hospital, with 62% hospitalized at least once in the last month of life for the cancer treatments.

Breakup by Regional:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America currently dominates the global market.

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for cancer immunotherapy.

The growth in the region can be attributed to the growing number of patients suffering from cancer, the rising development of bioinformatic tools, and favorable government initiatives. According to GLOBOCAN, in the US, there were an estimated 2,281,658 new cancer cases diagnosed and 612,390 deaths due to cancer in the year 2020. Moreover, the presence of key players in this region is also contributing to the growth of the market. According to an article published by Elsevier Ltd., in April 2023, the US National Cancer Institute published its expected national cancer plan, a roadmap, and calls to action on improving all stages of care for those suffering from cancer.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include: 

• Amgen Inc.
• AstraZeneca plc
• Bayer AG
• Bristol-Myers Squibb Company
• Eli Lilly and Company
• F. Hoffmann-La Roche AG
• GSK plc
• Johnson & Johnson
• Merck KGaA
• Novartis AG
• Pfizer Inc.
• Sanofi S.A
• Seagen Inc.
   

Global Cancer Immunotherapy Market Recent Developments

• December 2023: Oxford University Hospitals launched a new mRNA cancer vaccine trial for patients with head and neck cancers.
• December 2023: BioMed X, a German research institution announced a new joint research project with Ono Pharmaceutical Co. Ltd, a Japanese pharmaceutical company, to design next-generation immunotherapies by leveraging the antitumor effects of neutrophils. 
• July 2023: Spanish researchers at Cima University of Navarra developed a new immunotherapy combination for liver cancer. This therapy improves efficacy in animal models of hepatocellular carcinoma. This is a proof of concept that lays the foundations for the application of this treatment in patients with the most common liver cancer.

Global Cancer Immunotherapy Market Trends Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cancer immunotherapy market from 2024-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global cancer immunotherapy market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cancer immunotherapy industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.