The global cancer immunotherapy market size was estimated at USD 126.19 billion in 2023 and is projected to hit around USD 296.01 billion by 2033, growing at a CAGR of 8.9% during the forecast period from 2024 to 2033. North America dominated the market with the largest revenue share of 45.11% in 2023
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The growing number of melanoma cases across the world has driven the growth of the cancer immunotherapy market.
The cancer immunotherapy industry has gained utmost attention due to the rise in the cancer cases across the world. The immunotherapy is a type of biological therapy that helps in cancer treatment by supressing or activating the immune system. This therapy consists of several substances that are produced by human body or in laboratories. It helps to strengthen the immune system along with helping in identification and destroying cancer cells. Immunotherapies may sometimes be used alone or in combination with chemotherapies for treatment of cancer.
This cancer immunotherapy market is highly fragmented with presence of dominant market players. Some of the most prominent market players includes Astrazeneca, PLC. Bayer AG, Bristol-Myers Squibb Company, Eli Lily and Company, F. Hoffmann-La Roche, Ltd and some others. Also, the demand and supply chain of this industry is maintained by a suitable distribution channel that incudes hospital pharmacy, retail pharmacy and online pharmacy.
Cancer Immunotherapy Market Key Takeaways
- North America dominated the market and accounted for 45.11% share in 2023
- Asia Pacific is anticipated to witness the fastest CAGR in the global market
- Hospital Pharmacy segment dominated the market in 2023.
- Online pharmacy segment is estimated to register a significant CAGR over the forecast period.
- Monoclonal Antibodies segment led the market and accounted for the largest revenue share of 67.11% in 2023.
- Oncolytic Viral Therapies and Cancer Vaccines is anticipated to witness a significant market growth over the forecast period.
- Lung Cancer segment accounted for the largest revenue share in 2023
- Breast Cancer segment is estimated to register a significant CAGR over the forecast period.
- Hospitals & Clinics segment accounted for the largest revenue share in 2023.
- Cancer Research Centers segment is estimated to register a significant CAGR over the forecast period.
U.S. Cancer Immunotherapy Market Size and Growth 2024 to 2033
The U.S. cancer immunotherapy market size is calculated at USD 54.26 billion for 2024 and is expected to reach around USD 109.47 billion by 2033, growing at a CAGR of 8.11% from 2024 to 2033.
North America dominated the market and accounted for 45.11% share in 2023, the cancer immunotherapy market. The growth of this region can be attributed to rising number of cancer hospitals along with advancements in medical sciences. Also. growing cases of cancer deaths among the people of countries such as U.S.A., Canada, and Mexico had increased the demand for immunotherapies, thereby driving the market growth.
- According to the Canadian Cancer Statistics 2023, around 1 in 4 Canadian people is expected to die from cancer. It also estimated that cancer related in men is slightly more than female in Canada. Moreover, presence of immunotherapy companies such as ImmunityBio, Thermo Fisher Scientific, Bristol Myers Squibb and some others drives the growth of the cancer immunotherapy market.
- For instance, in April 2024, Immunity Bio announced that the Food and Drug Administration (FDA) had approved ANKTIVA (N-803) immunotherapy for treating patients suffering invasive bladder cancer.
Europe is the fastest growing region during the forecast period in the cancer immunotherapy market. The growth of this segment is generally driven by growing number of cancer research institutes along with rising developments in genetic engineering. Moreover, government of several countries such as UK, France, Germany, Ireland and some others have announced investments for cancer treatment and research that boost the market growth.
- For instance, in April 2024, the government of Ireland announced that an investment of more than 50 million euros was done under the National Cancer Strategy since 2020 for cancer treatment and 37.6 million euros for cancer research. Also, presence of cancer therapy companies such as Bayer AG, Astrazeneca, Immunogen and some others have also boosted the market growth.
- For instance, in October 2023, Immunogen announced that the European Medicines Agency (EMA) had approved mirvetuximab soravtansine (ELAHERE) therapy. This therapy is found to be effective for treatment of primary peritoneal cancer.
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U.S. Cancer Immunotherapy Market Dynamics
Driver
Approval of Cancer immunotherapies by Government Organizations
Cancer is one of the most dreaded diseases that has killed several people across the world. The researchers and scientists are actively involved in introducing new medicines and therapies for treatment of cancer. Some medicines and therapies are found to be highly effective against cancer, but it might have several side-effects associated with it. Thus, government organizations such as FDA, EU, CDSCO and some others do not allow the medicines or therapies that can have negative effects on the human body. In recent times, several immunotherapies are being granted approval from government organization for cancer treatment that do not have any side effects on body. Therefore, rise in number of approvals for immunotherapies for cancer treatment has driven the market growth. For instance, in February 2024, the U.S. Food and Drug Administration (FDA) approved a cellular therapy for melanoma. This therapy is named as Amtagvi (lifileucel) and can be used to treat adult patients suffering from skin cancer. Also, in February 2023, the European Union (EU) approved an immunotherapy. This therapy consists of Imfinzi (durvalumab) and Imjudo (tremelimumab) and are effective for lung and liver cancer.
Restraint
Expensive way of treatment and negatives associated with immunotherapy
The prevalence of cancer has increased rapidly in the last decade so research and developments associated to cancer treatment has become an important subject matter in medical sciences. The studies related to drug manufacturing and immunotherapies for cancer treatment is very high. Thus, with increase in manufacturing and testing process of immunotherapies, the treatment cost becomes very high for patients which in turn restrains the market growth. Moreover, there are several side effects of immunotherapy such as swelling, skin rashes, heart palpitations, a stuffy head and some others. Thus, these side effects tend people to avoid immunotherapy that in turn restrains the growth of the cancer immunotherapy market.
Opportunity
New method of developing immunotherapies
The world has experienced rapid growth and development in the field of medical sciences in the last decade. The number of cancer patients has also increased across the world that tend doctors, scientists, researcher and others to develop effective therapies for cancer treatment. Recently, researchers have found out a new process of extracting immunotherapy drugs using peptide linkages inside the human body. This method was first developed by the researchers of the University of Texas and MD Anderson Cancer Center and is considered to be an effective method for immunotherapy drug development for cancer treatment. Thus, growing developments related to new processes associated to immunotherapy drugs is expected to create growth opportunities for the market players in future.
Report Highlights
Product Insights
Monoclonal Antibodies segment led the market and accounted for the largest revenue share of 67.11% in 2023, Increasing investment for R&D of monoclonal antibodies—such as bispecific antibodies, conjugated monoclonal antibodies, and naked antigen binding antibodies—has opened new avenues for the growth of companies in the oncology therapeutics space. New-age monoclonal antibodies are designed to impart or possess adaptive immunity, antibody dependent cellular toxicity, and antigen specificity. Monoclonal antibodies are being largely studied for their therapeutic effects against various types of cancers. For instance, in August 2023, FDA has 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.
Oncolytic Viral Therapies and Cancer Vaccines is anticipated to witness a significant market growth over the forecast period. The development of cancer vaccines, which are subject to significant obstacles such as lack of immunogenicity and immunosuppression effects within the tumor microenvironment, must succeed. According to American Association for Cancer Research in June 2023, the US Food and Drug Administration has only approved a limited number of therapeutic vaccines. Some of the choices available include sipuleucel-T (Provenge), which is a vaccine made from cells and is authorized as a treatment for unconventional prostate cancer, laherparepvec talimogene (Imlygic or T-VEC), which is a vaccine derived from a virus and is approved for Bacillus Calmette Guerin and treating metastatic melanoma, a weakened strain of bacteria used to prevent the recurrence of early-stage bladder cancer following surgery. These aspects are boosting the market.
By Application
The lungs cancer segment dominated the global cancer immunotherapy market in 2023. The growth of this segment can be attributed to factors such as growing trend of smoking cigarettes and exposure to asbestos in construction activities. Also, rise in the number of cases of non-small cell lung cancer, small cell lung cancer and mesothelioma had increased the demand for immunotherapies, thereby driving the market growth. According to a study by Cancer.net, around 14% lungs cancer patients suffered from Small Cell Lung Cancer (SCLC). It also estimated that approximately 238,440 adults (117,550 men and 120,790 women) in the US is expected to be suffering from lungs cancer in 2023. Moreover, cancer therapy companies are launching several immune therapies for treatment of cancer that drives the growth of the cancer immunotherapy market. For instance, in February 2024, Bristol Myers Squibb announced that The U.S. Food and Drug Administration (FDA) and the European Union (EU) have approved their immunotherapy for the treating patients suffering from non-metastatic non-small cell lung cancer.
The breast cancer segment is the fastest growing segment in the cancer immunotherapy market during the forecast period. The growth of this segment is mainly driven by rise in research activities for breast cancer along with developments in medicines associated to treatment of breast cancer. Also, the growing number of patients suffering from breast cancer across the world has further driven the market growth.
- According to the National Breast Cancer Foundation of U.S.A., 1 in every 8 women of U.S.A suffers from breast cancer in her lifetime. It also estimated that around 310,720 women and 2,800 men of U.S.A. is expected to be diagnosed with invasive breast cancer in 2024.
Moreover, cancer therapy companies are constantly developing new cancer treatment immunotherapies for treatment of breast cancer that in turns drives the growth of the immunotherapy market. For instance, in July 2023, Merck launched KEYTRUDA (pembrolizumab). KEYTRUDA is Merck’s anti-PD-1 therapy that is highly effective against (ER+/HER2-) breast cancer.
By Technology Type
The monoclonal antibody segment dominated the cancer immunotherapy market in 2023. The growth of this segment can be attributed to growing number of breast cancer patients across the world. According to the World Health Organization (WHO), the most prevalent cancer in woman was breast cancer across 157 nations out of 185 nations in 2022. It also stated that around 670000 people died due to breast cancer in 2022. Also, the monoclonal antibody therapies are more efficient and causes less infections as compared to chemotherapies which increases the demand for monoclonal antibody, thereby driving the growth of the cancer immunotherapy market. Additionally, cancer therapy-based companies are constantly engaged in developing monoclonal antibodies that are effective against cancer. For instance, in March 2023. BioNTech collaborated with OncoC4. This collaboration aimed at developing a monoclonal antibody named as CTLA-4 for treatment of cancer patients.
The checkpoint inhibitors segment is the fastest growing segment during the forecast period in the cancer immunotherapy market. The growth of this segment is generally driven by the growing cases of melanoma and lung cancer. According to American Cancer Society, around 3% White people, 0.1% Black people, and 0.5% Hispanic people are affected by melanoma in their lifetime. Also, growing advancements in healthcare infrastructure along with developments related to cancer diagnosis and treatment has further driven the market growth. Moreover, the rise in number of clinical trials and rising adoption of combining therapies for cancer treatment increases the demand for checkpoint inhibitors that in turn is driving the growth of the immunotherapy market.
By Distribution Channel
The hospitals pharmacy segment dominated the cancer immunotherapy market in 2023. The growth of this segment is generally driven the rise in the number of cancer patients that are admitted in hospitals along with infrastructural developments in cancer hospitals. Also, the availability of pharmacies in hospital building can help people to buy cancer medicines and therapies during emergencies. Moreover, the pharmacies in the hospitals keep huge stock of medicine and therapies according to the preferences of doctors. Thus, the growth of hospitals pharmacy segment is an important factor that shapes the cancer immunotherapy market.
By End-user
The hospitals segment holds the lion’s share in the cancer immunotherapy market and is expected to continue its dominance during the forecast period. The growth of this segment is generally driven by the growing number of cancer cases around the world. Also, the number of hospitals associated with cancer treatment has rapidly increased in the past decade that accelerates the market growth to some extent. Moreover, several government funding for developing cancer treatment infrastructure along rising adoption of immunotherapy in hospitals is driving the growth of the market. Some famous immunotherapy hospitals include Anadolu Medical Center, Quironsalud Teknion Medical Center, Nordwest Hospital, Assuta Medical Center, Samsung Medical Center, St. Zdislava Hospital and some others. Thus, presence of these hospitals has also driven the growth of the cancer immunotherapy market.
The cancer research institutes segment is the fastest growing segment in the cancer immunotherapy market. The growth of this segment is generally driven by rising interest of students towards cancer studies along with developments in cancer treatment infrastructure. Also, rise in the number of research institutes related to cancer studies along with growing number of cancer patients across the world has also propelled the market growth. Moreover, the presence of famous immunotherapy institutes such as MD Anderson Cancer Centre, University of Southampton, University of Birmingham and some others drives the growth of the market.
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Recent Developments
- In May 2024, Amgen announced that the U.S. Food and Drug Administration (FDA) had approved an immunotherapy to treat cancer. This immunotherapy is named as IIMDELLTRA and can be used to treat adult patients suffering from extensive-stage small lung cancer (ES-SCLC).
- In March 2024, Bristol Myers Squibb received approval from the U.S. Food and Drug Administration (FDA) for Breyanzi. Breyanzi is a CD19-directed chimeric antigen receptor (CAR) T cell therapy that helps in treatment of patients suffering from relapsed or refractory small lymphocytic lymphoma (SLL) and chronic lymphocytic leukemia (CLL).
- In March 2023, Merck KGAA announced that the US Food and Drug Administration (FDA) had approved Bavencio. Bavencio is an anti-programmed death ligand-1 (PD-L1) antibody therapy that is effective for treatment of advanced renal cell carcinoma (RCC) and metastatic Merkel cell carcinoma (MCC).
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Key Companies & Market Share Insights
- Pfizer Inc., AstraZeneca, and Merck & Co., Inc. are some of the dominant players operating in the global market.
- Pfizer, Inc. is engaged in discovery, development, manufacture, sales, and distribution of medical products across the world. Pfizer’s products range includes medicines, vaccines, and consumer goods
- Merck & Co., Inc. is a healthcare solutions provider that operates majorly operates in four segments: pharmaceutical, healthcare services, animal health, and alliances. It offers therapeutic products for asthma, hepatitis C, diabetes, cardiovascular diseases, HIV infections, fungal & intra-abdominal infections, osteoporosis, hypertension, and fertility issues
- Bristol-Myers Squibb Company, Novartis AG, and Immunocore, Ltd are some of the emerging market players functioning in the market.
- Novartis AG is a Swiss-based multinational company catering to pharmaceutical market. It is also involved in the R&D, manufacturing, and marketing of healthcare products
- Bristol-Myers Squibb (BMS) is a pharmaceutical company that manufactures and sells biopharmaceutical products across the globe. It manufactures products in several therapeutic areas, such as psychiatric disorders, cardiovascular disease, diabetes, HIV/AIDS, hepatitis, cancer, and rheumatoid arthritis and is headquartered in New York
Cancer Immunotherapy Market Top Key Companies:
- Pfizer Inc.
- AstraZeneca
- Merck & Co., Inc
- F. Hoffmann-La Roche Ltd
- Bristol-Myers Squibb Company
- Novartis AG
- Lilly
- Johnson & Johnson Services, Inc
- Immunocore, Ltd
Cancer Immunotherapy Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Cancer Immunotherapy market.
By Product
- Monoclonal Antibodies
- Immunomodulators
- Oncolytic Viral Therapies & Cancer Vaccines
By Application
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Melanoma
- Prostate Cancer
- Head & Neck Cancer
- Ovarian Cancer
- Pancreatic Cancer
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By End Use
- Hospitals & Clinics
- Cancer Research Centers
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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Frequently Asked Questions
- What geographic regions does your market research cover for the Cancer Immunotherapy market?
- We have a global reach, with expertise spanning across continents, including North America, Europe, Asia-Pacific, Latin America, and the Middle East. We leverage a combination of primary and secondary research methodologies to offer country-level analysis.
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- We conduct cross-sectional analysis by examining data from different individuals at a single point in time to identify patterns and trends across diverse segments of the market.
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