Market Overview
The Global Cancer Immunotherapy Market is expected to reach a value of
USD 132.6 billion in 2023, and it is further anticipated to reach a market value of
USD 298.7 billion by 2032 at a
CAGR of 9.4%.
Immunotherapy controls the body's immune system to fight diseases like cancer. It either improves the natural immune response to target cancer cells more effectively or introduces
artificial immune system proteins. By using substances produced by the body or in a laboratory, cancer immunotherapy enhances the immune system, empowering it to identify & eliminate cancer cells, thereby fortifying the body's innate defenses against the disease.
Key Takeaways
- By Product, Monoclonal Antibodies leads in 2023 & is anticipated to dominate throughout the forecasted period.
- In addition, Immunomodulators is expected to have significant growth over the forecasted period.
- By Application, Lung Cancer takes the lead & drives the market in 2023
- North America has a 45.6% share of revenue in the Global Cancer Immunotherapy Market in 2023
Market Dynamic
During the forecasted period significant growth in the global cancer immunotherapy market can be seen, driven by the growing preference for immunotherapy over traditional treatments, the broad number of cancers, & an increased need for cancer monoclonal antibodies. The market is further driven by the expansion of bioinformatics equipment, providing improved alternatives for drug development, as well as the growth in the popularity of patient assistance programs. In addition, a strong pipeline of pledged innovations contributes to the positive outlook for the sector.
However, the market faces impediments, like the copyright expiry of key drugs, inadequate screening, and diagnostic infrastructure in many emerging nations, potential side effects, exorbitant costs associated with developing innovative drugs, & strict regulatory frameworks from various governments create hurdles to the seamless growth of the global cancer immunotherapy market.
Research Scope and Analysis
By Product
The monoclonal antibodies segment takes the lead in the global cancer immunotherapy market in 2023, claiming the largest market share and is expected to have steady growth throughout the forecast period, which is due to several factors, like targeted effectiveness, a high prescription rate, minimal side effects, & strong commercial performance of key monoclonal antibodies like Keytruda, Yervoy, and Opdivo.
Further, oncolytic viral therapies & cancer vaccines emerge as the most sought-after segment in the projected period, as the increasing demand for innovative treatment approaches, a growing interest in cancer vaccines, & a rise in financial support from both governmental & non-governmental sectors for the development of new oncology vaccines are expected to drive the major need for this segment in the years to come.
By Application
In terms of application, the lung cancer segment emerged as the leading segment in the market, driven by factors like a rise in the incidence of lung malignancies, growth in the adoption of immunotherapy, awareness programs, & a strong pipeline of investigational candidates. The segment's expansion is further driven by a rise in product approvals & launches, indicating a positive trajectory for future demand.
Moreover, the breast cancer segment secured the second-largest share, boosted by the disease's high prevalence, ongoing research endeavors, & major investments by key players in developing innovative therapeutics for breast malignancies. Further, the prostate cancer segment is expected for the fastest growth rate during the forecast period, highlighting a rising demand for advanced therapeutic solutions in the field of prostate cancer treatment.
By Distribution Channel
The hospital pharmacy segment takes the lead in the market, commanding a significant market share, as the growth of hospital pharmacies is driven by the rise in demand for immunotherapy within hospital settings & the concurrent rise in hospitalization due to a growth in oncology disorders. The complex cancer treatment, along with an aging population, has contributed to an increase in the rate of hospitalization among cancer patients, supporting the segment's substantial market share.
Moreover, the online pharmacy segment is expected to witness the most rapid growth in the upcoming years, which is attributed to factors like a surge in telemedicine adoption, the expanding reach of the internet, increased technological integration, & the inherent benefits of convenience &time efficiency. Also, the presence of prominent e-pharmacy players, along with enticing discounts, further fuels the anticipated demand for the online pharmacy segment in the coming future.
By End User
The global cancer immunotherapy market experienced a significant impact from the hospitals and clinics sector, which has emerged as the revenue leader in 2023 & is expected to maintain this dominance, attributed to a surge in hospital admissions for cancer treatment, along with the growing number of government and private hospitals globally. Patients prefer these institutions for many cancer treatments, supporting the increasing presence of hospitals & the adoption of advanced technologies, which is expected to fuel the segment's continued growth.
Moreover, the cancer research institutions segment provides promising opportunities in the forecast period. Driven by an increase in corporate & government investments in cancer treatment research & the exploration of immunotherapies, this segment is anticipated to flourish.
The Cancer Immunotherapy Market Report is segmented on the basis of the following:
By Product
- Monoclonal Antibodies
- Immunomodulators
- Oncolytic Viral Therapies & Cancer Vaccines
By Application
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Melanoma
- Prostate Cancer
- Pancreatic Cancer
- Other
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By End User
- Hospitals & Clinics
- Cancer Research Centers
- Others
Regional Analysis
North America stands as the dominant region in the global cancer immunotherapy market, contributing a substantial 45.6% to the total revenue in 2023, and is expected to maintain this stronghold in the forecast period, which is driven by a higher incidence of cancer in the region, along with a notable adoption of cancer immunotherapy among the population.
Further, Europe emerges as a highly opportunistic market in the upcoming forecast period. The region faces a growth in cancer cases & related deaths, with a significant impact on the elderly population aged 65 years & above. Further, breast cancer takes the lead as the most diagnosed cancer across European countries in 2022, as all these factor positions Europe as a promising arena for growth and advancement in cancer immunotherapy research and adoption.
By Region
North America
• The U.S.
• Canada
Europe
• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe
Asia-Pacific
• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America
Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA
Competitive Landscape
The cancer immunotherapy market experiences intense competition with a limited number of major players holding significant market shares, as these players play a vital role in shaping the market landscape. Further, substantial investments in R&D for cancer therapy by these industry leaders, along with a rising number of product approvals, serve as critical drivers propelling the overall growth of the market.
In June 2023, ImmunoGenesis, & Cancer Focus Fund, LP, in collaboration with The University of Texas MD Anderson Cancer Center, announced a USD 4.5 million investment plan for the Phase 1a/1b clinical trial of ImmunoGenesis' lead candidate, IMGS-001, which targets immune-excluded tumors resistant to current immunotherapy.
Some of the prominent players in the global Cancer Immunotherapy Market are:
- Lilly
- Novartis
- Pfizer
- Immunocore
- Johnson & Johnson
- Merk & Co
- AstraZeneca
- Amgen
- Bayer AG
- Seattle Genetics
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Cancer Immunotherapy Market:
The global cancer immunotherapy market experienced multifaceted impacts during the COVID-19 pandemic & ensuing recession. The
healthcare sector experienced disruptions in treatment access & delivery, leading to a halt in cancer diagnoses &therapies. The economic downturn further strained funding for R&D initiatives.
Despite these challenges, the pandemic highlights the importance of strong healthcare systems, allowing increased awareness & focus on cancer treatments. Further, telemedicine adoption rose, providing alternative means of patient care.
Supply chain disruptions impacted the availability of pharmaceuticals, impacting treatment continuity. As the world navigated these challenges, efforts continued to advance cancer immunotherapy research, emphasizing resilience & adaptation to allow ongoing progress in the quest for effective cancer treatments.
Recent Developments
- In September 2023, a team of researchers, including those from Northwestern University, secured a USD 45 million grant from the Advanced Research Projects Agency for Health (ARPA-H) to expedite the development of a implant for sensing & treating cancer. Further Northwestern's project marks the second program funded by ARPA-H's inaugural Open Broad Agency Announcement solicitation for research proposals.
- In September 2023, the US FDA modified its 2021 accelerated approval of the immunotherapy drug pembrolizumab for certain individuals with advanced stomach and gastroesophageal junction cancer, as initially approved in combination with trastuzumab & chemotherapy for advanced HER2-positive cases, the amendment is based on updated results from the KEYNOTE-811 trial. Further, the revised approval indicates effectiveness specifically in patients with elevated PD-L1 levels, constituting about 85% of the trial participants.
- In August 2023, the NHS in England got approval from the Medicines & Healthcare products Regulatory Agency (MHRA) to develop an advance seven-minute injection method for administering the immunotherapy atezolizumab (Tencentriq) involving subcutaneous injections under the skin, replacing the traditional 30-minute to hour-long intravenous transfusion in hospitals. The switch and more comfortable delivery are expected to enhance the experience for hundreds of eligible patients, saving valuable time for NHS cancer teams.
| Report Characteristics |
| Market Size (2023) |
USD 132.6 Bn |
| Forecast Value (2032) |
USD 298.7 Bn |
| CAGR (2023-2032) |
9.4% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Monoclonal Antibodies,
Immunomodulators, and Oncolytic Viral Therapies &
Cancer Vaccines), By Application (Lung Cancer, Breast
Cancer, Colorectal Cancer, Melanoma, Prostate
Cancer, Pancreatic Cancer, and Other), By
Distribution Channel (Hospital Pharmacy, Retail
Pharmacy, and Online Pharmacy), By End User
(Hospitals & Clinics, Cancer Research Centers, and
Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Lilly, Novartis, Pfizer, Immunocore, Johnson &
Johnson, Merk & Co, AstraZeneca, Amgen, Bayer AG,
Seattle Genetics, and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Cancer Immunotherapy Market size is estimated to have a value of USD 132.6 billion in 2023
and is expected to reach USD 298.7 billion by the end of 2032.
North America has the largest market share for the Global Cancer Immunotherapy Market with a share
of about 45.6% in 2023.
Some of the major key players in the Global Cancer Immunotherapy Market are Lilly, Novartis, Pfizer,
and many others.
The market is growing at a CAGR of 9.4 percent over the forecasted period.