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Cancer Immunotherapy Market Size

Report ID: GMI9584
Published Date: May 2024
Report Format: PDF

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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.

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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.

Cancer Immunotherapy Market Report Attributes
Report Attribute	Details
Base Year:	2023
Cancer Immunotherapy Market Size in 2023:	USD 125.7 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	9.3%
2024 – 2032 Value Projection:	USD 277.4 Billion
Historical Data for:	2021 – 2023
No. of Pages:	180
Tables, Charts & Figures:	233
Segments covered:	Product, Cancer Type, End-use, and Region
Growth Drivers:	Rising prevalence of cancer Advancements in research and development Personalized medicine and biomarker development
Pitfalls & Challenges:	High treatment costs Risk of side effects associated with the treatment

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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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of cancer immunotherapy reached USD 125.7 billion in 2023 and is set to witness 9.3% CAGR from 2024 to 2032, led by rising prevalence of cancer.

The monoclonal antibodies product segment will reach USD 119.6 billion in revenue by 2032, as they are designed to target specific proteins or antigens present on cancer cells.

U.S. market size will record USD 115.2 billion by 2032, owing to the presence of world-renowned research institutions, academic medical centers, and biopharmaceutical companies at the forefront of cancer immunotherapy research and innovation.

AbbVie Inc., Amgen Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, Celldex Therapeutics, Inc., Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., and GSK plc among others.