Cancer Immunotherapy Market Size

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.