Cancer Immunotherapy Market Size - By Product (Monoclonal Antibodies, Cancer Vaccines, Immunomodulators, Oncolytic Viral Therapies, Cytokines), Cancer Type (Lung, Breast, Colorectal, Prostate, Pancreatic), End-use & Forecast, 2024 – 2032

Cancer Immunotherapy Market Size

Cancer Immunotherapy Market size was valued at USD 125.7 billion in 2023 and is estimated to grow at 9.3% CAGR from 2024 to 2032. Cancer immunotherapy refers to a diverse set of treatments that harness the body's immune system to recognize, attack, and eliminate cancer cells. Unlike traditional cancer treatments such as chemotherapy and radiation therapy, which directly target cancer cells, immunotherapy works by enhancing or restoring the immune system's ability to recognize and destroy cancer cells.
 

The immune system is equipped with specialized cells, proteins, and mechanisms designed to identify and eliminate foreign invaders, including cancer cells. However, cancer cells can sometimes evade detection or suppression by the immune system, allowing tumors to grow and spread unchecked.
 

The rising prevalence of cancer is a significant driving factors for the market. For instance, according to the World Health Organization (WHO), in 2022, there were an estimated 20 million new cancer cases and 9.7 million deaths worldwide. Thus, this underscores the urgent need for effective treatments such as cancer immunotherapy, driving its demand and market growth.
 

Furthermore, advancements in research and development, personalized medicine and biomarker development medicine are the promoting factors fostering the growth of the market.
 

Cancer Immunotherapy Market Trends

Personalized medicine and cancer biomarkers development have emerged as pivotal pillars in the advancement of cancer immunotherapy. These innovative approaches offer the promise of tailoring treatment strategies to the individual characteristics of each patient, thereby optimizing therapeutic efficacy while minimizing potential adverse effects. By leveraging the unique genetic makeup, tumor biology, and immune profile of patients, personalized medicine aims to revolutionize cancer care by delivering targeted and precise interventions.
 

• Personalized medicine allows for the tailoring of treatment strategies to individual patients based on their unique genetic makeup, tumor characteristics, and immune profile. By identifying specific biomarkers associated with response to immunotherapy, clinicians can select the most appropriate therapy for each patient, maximizing treatment efficacy while minimizing potential side effects.
   
• Biomarker-driven approaches help identify patients who are most likely to benefit from cancer immunotherapy. By stratifying patients based on biomarker expression levels, clinicians can optimize treatment decisions, leading to improved response rates, progression-free survival, and overall survival outcomes.
   
• Personalized medicine enables the selection of targeted therapies that specifically exploit cancer cells' vulnerabilities while sparing healthy tissues. Biomarker-guided treatment approaches minimize the risk of adverse effects associated with traditional, non-specific cancer treatments such as chemotherapy and radiation therapy. Thus, driving the growth of the market.
   

Cancer Immunotherapy Market Analysis

Based on product, the market is divided into monoclonal antibodies, immunomodulators, cancer vaccines, oncolytic viral therapies, and cytokines. Further, immunomodulators are segmented into checkpoint inhibitors, immune checkpoint modulators, and other immunomodulators. The monoclonal antibodies segment is forecasted to reach USD 119.6 billion by 2032, displaying robust growth propelled by several key factors.

• Monoclonal antibodies are designed to target specific proteins or antigens present on cancer cells. This specificity enables them to selectively bind to cancer cells while sparing normal, healthy cells, minimizing off-target effects and reducing toxicity compared to traditional chemotherapy.
   
• Some monoclonal antibodies function by activating the immune system's anti-tumor response. For example, immune checkpoint inhibitors block proteins like PD-1 or CTLA-4, allowing T cells to recognize and attack cancer cells more effectively.
   
• Further, biomarkers such as PD-L1 expression levels can help identify patients who are most likely to benefit from monoclonal antibody therapy. This allows for personalized treatment strategies tailored to individual patients based on their tumor biology and immune profile, thereby fueling market growth.
   

Based on cancer type, the cancer immunotherapy market is bifurcated into lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, pancreatic cancer, and other cancer types. The breast cancer segment accounted for USD 19.5 billion in 2023.
 

• Certain subtypes of breast cancer such as triple-negative breast cancer (TNBC) and HER2-positive breast cancer, exhibit higher levels of tumor-infiltrating lymphocytes (TILs) and tumor-associated antigens. These characteristics make breast tumors more susceptible to immunotherapy interventions, as they provide targets for the immune system to recognize and attack cancer cells.
   
• Immune checkpoint inhibitors such as PD-1/PD-L1 inhibitors and CTLA-4 inhibitors, have shown promise in treating breast cancer, particularly in TNBC and HER2-positive subtypes. These subtypes often have higher levels of immune checkpoint expression, suggesting that they may be more responsive to checkpoint blockade.
   
• Immunotherapy can be combined with other treatment modalities commonly used in breast cancer management such as chemotherapy, targeted therapy (e.g., HER2-targeted therapy), and radiation therapy. These combination approaches have the potential to enhance treatment efficacy, overcome resistance mechanisms, and improve patient outcomes. Thus, propelling the growth of the market.
   

Based on end-use, the cancer immunotherapy market is bifurcated into hospitals, specialty clinics, and cancer research centres. The hospitals segment accounted for USD 78.6 billion in 2023.
 

• Hospitals typically have multidisciplinary teams of oncologists, surgeons, radiologists, pathologists, and immunologists who collaborate to provide comprehensive cancer care. This integrated approach ensures that patients receive personalized treatment plans tailored to their specific needs, including the incorporation of immunotherapy when appropriate.
   
• They often have access to specialized expertise in cancer immunotherapy, including physicians, nurses, and researchers with extensive experience in immunology and oncology. This expertise allows for the effective management of complex cases and the implementation of cutting-edge immunotherapy protocols.
   
• Further, hospitals are equipped with state-of-the-art infrastructure and facilities necessary for the administration and monitoring of cancer immunotherapy. This includes infusion centers, radiology departments for imaging studies, pathology laboratories for biomarker testing, and specialized units for managing potential immune-related adverse events.
   

The U.S. cancer immunotherapy market is forecasted to reach USD 115.2 billion by 2032.
 

• The U.S. is home to world-renowned research institutions, academic medical centres, and biopharmaceutical companies at the forefront of cancer immunotherapy research and innovation. These institutions drive advancements in immunotherapy approaches, biomarker development, and clinical trial initiatives, contributing to the expansion of treatment options and improved patient outcomes.
   
• The increasing prevalence of cancer in U.S. is driving substantial growth in the cancer immunotherapy industry. For instance, according to the Centers for Disease Control and Prevention (CDC) in 2020, there were 1,603,844 new cases of cancer reported, with 602,347 individuals losing their lives to this disease, in U.S.
   

The cancer immunotherapy market in UK is expected to experience significant and promising growth from 2024 to 2032.
 

• The UK hosts a robust biopharmaceutical industry with companies specializing in drug discovery, development, and manufacturing. These companies collaborate with academic institutions and research organizations to translate scientific discoveries into clinical therapies, contributing to the growth of the market.
   

Japan cancer immunotherapy market is anticipated to witness lucrative growth between 2024 – 2032.
 

• Japan has a well-established regulatory framework for drug approval. The Pharmaceuticals and Medical Devices Agency (PMDA) ensures rigorous evaluation of new therapies while also facilitating timely approvals for promising treatments. This regulatory efficiency can accelerate the introduction of cancer immunotherapies to the market.
   

The cancer immunotherapy market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
 

• With a growing population and increasing healthcare expenditure, Saudi Arabia represents a potentially lucrative market for cancer immunotherapy companies. As awareness of immunotherapy grows and access to advanced treatments improves, the demand for these therapies is likely to increase.
   

Cancer Immunotherapy Market Share 

The cancer immunotherapy industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products and services based on different technologies is among a key market strategy. Some of the leading industry players have a notable presence in the market.
 

Cancer Immunotherapy Market Companies

Some of the eminent market participants operating in the cancer immunotherapy industry include:

• AbbVie Inc.
• Amgen Inc.
• AstraZeneca PLC
• Bayer AG
• Bristol-Myers Squibb Company
• Celldex Therapeutics, Inc.
• Eli Lilly and Company
• F. Hoffmann-La Roche Ltd.
• Gilead Sciences, Inc.
• GSK plc
• Immunocore Holdings plc
• Johnson & Johnson
• Merck & Co., Inc
• Novartis AG
• Pfizer Inc.
   

Cancer Immunotherapy Industry News

• In October 2023, Pfizer Inc. announced that the U.S. Food and Drug Administration (FDA) had approved BRAFTOVI+ MEKTOVI for treating adult patients with metastatic non-small cell lung cancer featuring a BRAF V600E mutation, detectable via FDA-approved tests like FoundationOne Liquid CDx or FoundationOne CDx. This approval significantly benefited the company by expanding its product portfolio, enhancing its market presence, and providing a novel treatment option for a specific subset of lung cancer patients, thereby potentially increasing revenue and improving patient outcomes.
   
• In October 2023, Merck announced that the U.S. Food and Drug Administration (FDA) had approved KEYTRUDA, Merck's anti-PD-1 therapy, for treating patients with resectable non-small cell lung cancer (NSCLC) in combination with platinum-containing chemotherapy as neoadjuvant treatment. This approval significantly benefited the company by solidifying its position as a leading immunotherapy option for NSCLC patients, and potentially increasing revenue through wider usage across different stages of the disease.
   

The cancer immunotherapy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product

• Monoclonal antibodies
• Cancer vaccines
• Immunomodulators
  • Checkpoint inhibitors
  • Immune checkpoint modulators
  • Other immunomodulators
• Cytokines
• Oncolytic viral therapies

Market, By Cancer Type

• Lung cancer    
• Breast cancer 
• Colorectal cancer        
• Melanoma      
• Prostate cancer           
• Pancreatic cancer
• Other cancer types

Market, By End-use

• Hospitals
• Specialty clinics
• Cancer research centers

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe 
• Asia Pacific 
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific 
• Latin America 
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East and Africa