Cancer Immunotherapy Market Report by Therapy Type (Monoclonal Antibodies, Cancer Vaccines, Checkpoint Inhibitors, Immunomodulators, and Others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head and Neck Cancer, and Others), End User (Hospitals, Cancer Research Centers, Clinics, and Others), and Region 2024-2032

Cancer Immunotherapy Market Report by Therapy Type (Monoclonal Antibodies, Cancer Vaccines, Checkpoint Inhibitors, Immunomodulators, and Others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head and Neck Cancer, and Others), End User (Hospitals, Cancer Research Centers, Clinics, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A5095
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Cancer Immunotherapy Market Size:

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 rising prevalence of cancer cases worldwide, technological leaps in biotechnology and immunology, burgeoning massive investments in research and development (R&D), expanding pipeline of immunotherapy candidates, and availability of reimbursement systems are some of the factors fueling the market growth.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 118.9 Billion
Market Forecast in 2032
US$ 261.0 Billion
Market Growth Rate 2024-2032 8.92%


Cancer Immunotherapy Market Analysis:

  • Major Market Drivers: The cancer immunotherapy market analysis states that the advances in personalized medicine, which enabled the administration of a unique treatment plan for each patient, is one of the primary factors supporting the cancer immunotherapy market growth. The cancer immunotherapy market demand is also reaffirmed by soaring investments in healthcare infrastructural facilities, primarily in developing countries, which have made an expanded population access for such high levels of cancer treatment. In addition, the rapid approval of cancer immunotherapy treatments has made it easy for pharmaceutical companies to penetrate the market. High-level cooperation between major drug manufacturers and academic institutions contributes to new innovations, while patient-treatment-focused advocacy groups generate more awareness and funds for more research, which is further boosting the cancer immunotherapy market share.
  • Key Market Trends: The key cancer immunotherapy market trends include the personalization of therapy on the basis of genetic profiling of tumors. Besides this, the surging use of combination therapies are to optimize the respective advantages of immunotherapy and other treatments and enhance the effectiveness of immunotherapy while keeping toxicity to a minimum is propelling the market growth. Moreover, cancer immunotherapy market recent developments are major breakthroughs in the treatment of a broad spectrum of cancer.
  • Geographical Trends: North America is the largest market for cancer immunotherapy. This may be attributed to the strong healthcare infrastructure, substantial investment in R&D activities, and early adoption of advanced medical technologies. The region also has a robust pipeline of immunotherapy drugs, with many conducting clinical trials in the region, which is further driving the cancer immunotherapy market outlook . Government policies and high health care spending in the United States and Canada have also increased the region’s market potential.
  • Competitive Landscape: Some of the key players in the 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, Seagen Inc., etc.
  • Challenges and Opportunities: As per the cancer immunotherapy market statistics, the market is full of challenges; however, there are ample opportunities to develop and expand. Moreover, the cancer immunotherapy market 2021 experienced both challenges and opportunities, driven by advancements in research, regulatory changes, and market dynamics. Currently, the treatment is expensive for some patients to afford, limiting their access to the new therapy. Moreover, managing the side effects may be too complex for many people. On the other hand, there are several opportunities, such as the development of immunotherapies to help treat more types of cancers, which is further stimulating the cancer immunotherapy market price. The introduction of targeted treatment facilitated by the rise of personalized medicine is another cancer immunotherapy market opportunities. Additionally, growing investment into healthcare around the globe creates favorable conditions to surge the cancer immunotherapy market revenue.
     

Global Cancer Immunotherapy Market


Cancer Immunotherapy Market Trends:

Surging Cases of Cancer Worldwide:

The increasing prevalence of cancer cases across the globe is another vital driver of the immunotherapy market. The escalating rate of cancer further promotes the adoption and development of new treatment strategies, including immunotherapy, to address the surging demand for effective cancer treatment. According to the World Health Organization (WHO), about 20 million cancer cases and 9.7 million cancer deaths occurred in 2022. In the same year, 53.5 million people were alive within 5 years after being diagnosed with the precendented form of cancer. Globally, around 1 in 5 individuals develops cancer at some point; 1 in 9 men and 1 in 12 women dies.

Advancements in Biotechnology and Immunology:

The significant progress in biotechnology and immunology, novel immunotherapeutic agents have been developed, changing the paradigm of cancer treatment. The breakthrough in the field of immune system mechanisms and investigation of tumor microenvironments resulted in the origins and successful implementation of immunotherapy tendencies. Immune checkpoint inhibitors, monoclonal antibodies, and adoptive cell therapies are among the most promising approaches for cancer treatment. These novel approaches promote targeted and precise immune responses against cancer cells, which significantly improved police outcomes and created good chances for the development of the immunotherapy market growth globally.

Investments in Research and Development:

Burgeoning investments in research and development (R&D) by pharmaceutical companies, biotechnology firms, and government agencies and expanded knowledge of cancer biology and immunology, as well as recent progress in technology, have resulted in high levels of R&D efforts concentrating on the discovery and development of new immunotherapy agents. R&D spending supports a robust pipeline of candidates for immunotherapy, quickens clinical development times, and the perspective of commercialization spurs future demand to drive market expansion.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Cancer Immunotherapy Market Segmentation:

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

Breakup by Therapy Type:

Monoclonal antibodies represents the leading market segment 

 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.

 The monoclonal antibodies segment is driven by the increasing demand for targeted therapies in the treatment of various diseases, particularly cancer. These antibodies, designed to bind to specific targets on cancer cells, offer high specificity and reduced toxicity compared to conventional chemotherapy, thus driving their adoption in oncology. Additionally, the segment is fueled by advancements in biotechnology and genetic engineering, enabling the development of monoclonal antibodies with enhanced efficacy and reduced immunogenicity. Furthermore, the growing prevalence of chronic diseases such as autoimmune disorders and infectious diseases contributes to the expanding application of monoclonal antibodies in therapeutic interventions. In the field of autoimmune diseases, monoclonal antibodies targeting specific cytokines or cell surface receptors play a crucial role in modulating immune responses and managing symptoms. Moreover, the segment benefits from increasing investment in research and development, leading to the discovery and commercialization of novel monoclonal antibody therapies.

Breakup by Application:

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

Lung cancer represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the application. This includes lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head and neck cancer, and others. According to the report, lung cancer represented the largest segment.

 The lung cancer segment is driven by the increasing incidence of lung cancer worldwide, primarily due to factors such as tobacco smoking, environmental pollution, and exposure to carcinogens. Additionally, advancements in diagnostic technologies, including computed tomography (CT) scans and molecular testing, facilitate early detection and diagnosis of lung cancer, driving demand for screening programs and diagnostic tests. Furthermore, the development of targeted therapies and immunotherapies tailored to specific genetic mutations and biomarkers associated with lung cancer subtypes drives treatment innovation and improves patient outcomes. Moreover, public health initiatives aimed at smoking cessation and lung cancer awareness campaigns contribute to prevention efforts and early intervention strategies, addressing key factors driving the lung cancer segment.

Breakup by End User:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Hospitals
  • Cancer Research Centers
  • Clinics
  • Others
     

Hospitals represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the end user. This includes hospitals, cancer research centers, clinics, and others. According to the report, hospitals represented the largest segment.

 The hospitals segment is driven by the increasing demand for healthcare services, fueled by factors such as population growth, aging demographics, and the rising prevalence of chronic diseases. Additionally, advancements in medical technology and treatment modalities drive hospitals to invest in state-of-the-art equipment and facilities to meet patient needs effectively. Moreover, healthcare policy reforms and insurance coverage expansions contribute to higher patient volumes seeking care at hospitals, further boosting demand. Furthermore, the growing focus on quality improvement initiatives and patient-centered care drives hospitals to enhance their services and infrastructure, positioning them as preferred healthcare providers in their respective markets.

Breakup by Regional:

 

 
 

 

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  • 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 leads the market, accounting for the largest cancer immunotherapy market share

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

According to research that analyses who is the largest region in the cancer immunotherapy market, North America emerged as the dominating region owing to the increasing prevalence of cancer, particularly in the United States and Canada, which fuels the demand for advanced treatment options such as immunotherapy. As per the American Cancer Society, in 2022 an estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States. Additionally, robust research and development infrastructure in North America, coupled with significant investments in healthcare innovation, drive the rapid advancement and adoption of cancer immunotherapy treatments. Furthermore, favorable regulatory frameworks and reimbursement policies in countries like the US incentivize pharmaceutical companies to develop and commercialize immunotherapeutic agents, contributing to the region's leadership in the global cancer immunotherapy market.

Competitive Landscape:

  • The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the cancer immunotherapy industry 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., etc.
  • Key players in the cancer immunotherapy market are actively engaged in various strategies to maintain and expand their market presence. These strategies include ongoing research and development efforts aimed at advancing existing therapies and discovering novel immunotherapeutic agents targeting different cancer types and patient populations. Additionally, players are focusing on expanding their product portfolios through strategic collaborations, licensing agreements, and acquisitions to gain access to complementary technologies and intellectual property. Moreover, market leaders are investing in extensive clinical trial programs to demonstrate the efficacy and safety of their immunotherapy products across a broader spectrum of cancers and treatment settings. Furthermore, companies are increasingly emphasizing market access strategies to ensure widespread availability and reimbursement of their immunotherapeutic agents, thereby maximizing patient access and market penetration.


Cancer Immunotherapy Market News:

  • In August 2020: AstraZeneca announced positive results from its Phase III DANUBE trial evaluating durvalumab, a PD-L1 inhibitor, in combination with tremelimumab, a CTLA-4 inhibitor, for the treatment of patients with unresectable, locally advanced or metastatic urothelial carcinoma. The trial demonstrated a statistically significant improvement in overall survival in patients receiving the durvalumab plus tremelimumab combination compared to standard chemotherapy.
  • In November 2022: Merck KGaA announced the initiation of a Phase III trial evaluating avelumab, an anti-PD-L1 antibody, in combination with chemotherapy as first-line treatment for patients with advanced or metastatic gastric or gastroesophageal junction cancer. The trial, named JAVELIN Gastric 101, aims to assess the efficacy and safety of the combination regimen compared to chemotherapy alone in improving progression-free survival and overall survival in this patient population.


Cancer Immunotherapy Market Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
  • Therapy Type
  • Application
  • End User
  • Region
Therapy Types Covered Monoclonal Antibodies, Cancer Vaccines, Checkpoint Inhibitors, Immunomodulators, Others
Applications Covered Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head and Neck Cancer, Others
End Users Covered Hospitals, Cancer Research Centers, Clinics, Others
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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., etc. 

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


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.

Key Questions Answered in This Report

The global cancer immunotherapy market was valued at US$ 118.9 Billion in 2023.

We expect the global cancer immunotherapy market to exhibit a CAGR of 8.92% during 2024-2032.

The rising adoption of cancer immunotherapy, as it causes fewer side effects and reduces the risk of cancer relapse, as compared to other treatment options, is primarily driving the global cancer immunotherapy market.

The sudden outbreak of the COVID-19 pandemic had led to postponement of elective cancer treatment procedures to reduce the risk of the coronavirus infection upon hospital visits and interaction with medical equipment, thereby negatively impacting the global market for cancer immunotherapy.

Based on the therapy type, the global cancer immunotherapy market can be segmented into monoclonal antibodies, cancer vaccines, checkpoint inhibitors, immunomodulators, and others. Currently, monoclonal antibodies hold the majority of the total market share.

Based on the application, the global cancer immunotherapy market has been divided into lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head and neck cancer, and others. Among these, lung cancer currently exhibits a clear dominance in the market.

Based on the end user, the global cancer immunotherapy market can be categorized into hospitals, cancer research centers, clinics, and others. Currently, hospitals account for the largest market share.

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.

Some of the major 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, Seagen Inc., etc.

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Cancer Immunotherapy Market Report by Therapy Type (Monoclonal Antibodies, Cancer Vaccines, Checkpoint Inhibitors, Immunomodulators, and Others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head and Neck Cancer, and Others), End User (Hospitals, Cancer Research Centers, Clinics, and Others), and Region 2024-2032
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