Cancer Immunotherapy Market Analysis And Growth Forecast 2024-2032

Global Cancer Immunotherapy Market Analysis

The global cancer immunotherapy market was valued at US$ 96.5 billion in 2023 and is projected to reach US$ 228.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.05% from 2024 to 2032. The rising prevalence of cancer, growing government initiatives, and broader health insurance coverage are key drivers behind the expansion of this market.

Request a free sample copy of the report: https://www.renub.com/cancer-immunotherapy-market-p.php

Cancer Immunotherapy Market Overview

Cancer immunotherapy is a cutting-edge treatment that enhances the immune system’s ability to detect and combat cancer. Unlike traditional treatments like chemotherapy and radiation, which target cancer cells indiscriminately, immunotherapy is designed to stimulate the immune system to specifically target and destroy cancer cells. This approach is beneficial for treating a variety of cancers, including colorectal, prostate, breast, and more. The increasing recognition of its effectiveness and fewer side effects compared to conventional therapies contribute to its widespread adoption.

Immunotherapy works by either stimulating the immune system or introducing engineered immune cells that can more effectively recognize and attack cancer cells. This makes it a promising treatment for cancers that were previously difficult to treat. However, strict regulatory oversight and the high cost of developing new immunotherapies are some of the challenges the market faces.

Key Growth Factors in Cancer Immunotherapy

1. Increasing Cancer Incidence

The rise in cancer cases worldwide is a significant factor fueling the cancer immunotherapy market. As more people are diagnosed with various forms of cancer, the demand for innovative treatments like immunotherapy increases. According to the Global Cancer Observatory, the United States recorded approximately 2.28 million cancer cases and 612,390 cancer-related deaths in 2020 alone. Similarly, Australia experienced over 150,000 new cancer cases and 50,000 cancer-related deaths in the same year.

As the number of cancer patients continues to rise globally, the demand for immunotherapies to treat these diseases will expand significantly. Governments and private organizations are investing heavily in cancer research, accelerating the development of new immunotherapeutic treatments.

2. Approval of Novel Immunotherapies

The approval of new immunotherapies, such as anti-PD-1 antibodies, has accelerated the growth of the market. Drugs like dostarlimab, avelumab, and nivolumab have received approval from the US FDA between 2020 and 2022 and have shown effectiveness in treating non-small cell lung cancer (NSCLC), kidney cancer, melanoma, and breast cancer. This trend is expected to continue, with more breakthrough immunotherapies expected to gain approval, further driving market growth.

3. Government Initiatives and Funding

Governments are playing an essential role in the development of cancer immunotherapies. Initiatives like the National Cancer Moonshot program in the U.S. and other government-funded research programs worldwide are providing the necessary infrastructure and financial support for cancer immunotherapy research. The Parker Institute for Cancer Immunotherapy, for instance, works closely with researchers and pharmaceutical companies to advance immunotherapy treatments. These initiatives are expected to fuel market growth as more immunotherapies are developed and brought to market.

Key Challenges in the Cancer Immunotherapy Market

1. High Development Costs

The cost of developing new cancer immunotherapies remains a significant challenge. Immunotherapy research is highly expensive, involving complex clinical trials and regulatory processes. The development costs associated with creating new drugs, along with lengthy approval timelines, contribute to the high prices of these treatments. This can create affordability barriers for patients, especially in low- and middle-income countries. Additionally, pricing pressures from healthcare providers and insurers could limit access to these therapies, particularly in markets where cost-effectiveness is a key consideration.

2. Variable Patient Responses and Biomarker Identification

Another challenge facing the market is the variability in patient responses to immunotherapy. Not all patients respond well to these treatments, and identifying which patients will benefit the most is an ongoing challenge. While biomarkers hold promise for predicting treatment outcomes, their development and validation are still in progress. In some cases, tumors may develop resistance to immunotherapy, leading to treatment failure. This creates a need for further research into patient selection and the development of more personalized immunotherapy treatments.

Regional Insights

North America

North America is the dominant market for cancer immunotherapy, driven by the advanced healthcare infrastructure and substantial government efforts that support cancer research and treatment. The United States alone recorded 2.28 million new cancer cases and 612,390 cancer-related deaths in 2020. Government-backed initiatives, like the National Cancer Institute’s cancer care roadmap, provide substantial resources for research and treatment. Additionally, the growing number of cancer cases in Canada further fuels the demand for advanced cancer therapies. The availability of lucrative reimbursement policies for cancer treatments makes North America a crucial market for immunotherapy.

Middle East

The cancer immunotherapy market in the Middle East is rapidly expanding, driven by increasing cancer rates and the region’s growing investment in healthcare. Governments in countries like Saudi Arabia, United Arab Emirates, and others are prioritizing the availability of advanced cancer treatments and forming partnerships with global pharmaceutical companies. These efforts are helping to increase the accessibility of immunotherapies in the region.

Saudi Arabia

In Saudi Arabia, the cancer immunotherapy market is witnessing significant growth due to a rising incidence of cancer and increased healthcare spending. The Saudi government is investing in modernizing its healthcare infrastructure and promoting public-private partnerships to ensure access to innovative treatments, including immunotherapies. As the awareness around cancer prevention and treatment grows, the demand for effective immunotherapies continues to rise.

Key Players in the Cancer Immunotherapy Market

Some of the leading companies in the cancer immunotherapy market include:

  • Amgen Inc.
  • AstraZeneca
  • Bayer AG
  • Bristol-Myers Squibb Company
  • Pfizer Inc.
  • Novartis AG
  • Johnson & Johnson
  • Eli Lilly & Company
  • Seattle Genetics Inc.

These companies are at the forefront of immunotherapy research and development, working on introducing new therapies and improving existing ones to treat a variety of cancers more effectively.

Cancer Immunotherapy Market News

  • December 2023: The US FDA approved Fruquintinib (FRUZAQLA) by Takeda for the treatment of previously treated metastatic colorectal cancer.
  • October 2023: The FDA approved Merck’s KEYTRUDA as a neoadjuvant and adjuvant treatment for patients with resectable non-small cell lung cancer (NSCLC) after surgery.
  • October 2023: Pfizer received FDA approval for its combination therapy, MEKTOVI (binimetinib) and BRAFTOVI (encorafenib), to treat adult patients with metastatic NSCLC who have a BRAF V600E mutation.

 Related Report :

Cancer Pain Management Market

Chronic Obstructive Pulmonary Disease (COPD) Market

Hormone Replacement Therapy Market

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 15 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food Beverages, Power Energy, Information Technology, Telecom Internet, Chemical, Logistics Automotive, Consumer Goods Retail, Building, and Construction, Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more.

Media Contact:

Company Name: Renub Research

Contact Person: Rajat Gupta, Marketing Manager

Phone No: +91-120-421-9822 (IND) | +1-478-202-3244 (USA)

Email: mailto:rajat@renub.com

Cancer Immunotherapy Market size is expected to surpass around US$ 188.11 Billion by 2030

Extensive Company analysis and market share data are available in the recently launched Report, ” Cancer Immunotherapy Market: Industry Trends, Size, Growth, Share, Opportunity, and Forecast 2024-2030,” with the aid of Renub Research. The research examines the Cancer Immunotherapy Market competition, geographical areas, and growth potential

Global Cancer Immunotherapy Market is predicted to develop at a compound annual growth rate (CAGR) of 10.02% between 2023 and 2030

Immunotherapy is a ground breaking method in healthcare that harnesses the body’s immune system to combat illnesses. It has been explicitly tested as powerful in treating cancer, hypersensitive reactions, and autoimmune issues. By stimulating or improving the body’s natural defences, immunotherapy provides focused and minimally invasive remedies, reducing side effects compared to conventional treatment plans. This innovative technique has been transformative in contemporary medicinal drugs, with ongoing research and advancements usually increasing its applications and efficacy, providing new hope, and improving global patient effects.

Likewise, immunotherapy’s adaptability, spanning monoclonal antibodies, therapeutic vaccines, and oncolytic viruses, resonates with each patient and healthcare provider. This versatility, coupled with its capacity for reduced side effects in treating continual and existence-threatening sicknesses, positions it for sustained growth within the global immunotherapy market. Ongoing studies and development promise modern therapies and progressed patient outcomes, cementing its pivotal role in contemporary remedies. Furthermore, its groundbreaking fulfilment, exemplified by immune checkpoint inhibitors and CAR-T cell therapy, ushers in a new technology of personalized cancer treatment primarily based on genetic profiles, significantly enhancing affected person possibilities and transforming the complete subject of oncology. Hence, the estimated value of the Cancer Immunotherapy Market size by 2030 is expected to exceed US$ 188.11 Billion.

Moreover, the robust growth of the immunotherapy market is fuelled by increasing investments from public and private sectors, including governments, pharmaceutical companies, and venture capitalists. In 2022, global immunotherapy investments exceeded $20 billion, a 25% YoY increase. Notable examples include the National Cancer Institute’s annual $1 billion investment, Bristol Myers Squibb’s $4.1 billion acquisition of Turning Point Therapeutics, and Neon Therapeutics’ $145 million Series D funding round in 2022. These investments expedite immunotherapeutic drug development, widen patient access, improve outcomes, and stimulate economic growth. Consequently, the global Cancer Immunotherapy Market is set for sustained expansion, supported by this diverse financial backing.

Monoclonal antibodies dominate the Cancer Immunotherapy Market due to their first-rate specificity and efficacy

These engineered proteins can precisely target cancer cells and illnesses, minimizing harm to healthy tissues. Their versatility allows for improved treatment options tailored to individual sufferers, improving treatment results. Monoclonal antibodies have a confirmed track record in managing various cancers and autoimmune disorders, and ongoing research continues to expand their packages. Their reliability, validated effectiveness, and potential for personalized medication solidify their continual prominence in the ever-evolving discipline of immunotherapy.

Request a free sample copy of the report: https://www.renub.com/cancer-immunotherapy-market-p.php

Products – The Cancer Immunotherapy Market has been covered from three viewpoints

  1. Monoclonal Antibodies
  2. Immunomodulators
  3. Cancer Vaccines

Lung cancers are poised to dominate the Cancer Immunotherapy Market due to their high occurrence and the growing achievement of immunotherapeutic treatments

The need for modern therapies is enormous, with lung cancers being a leading cause of cancer-associated deaths globally. Immunotherapy has proven effective in certain lung cancer instances, improving affected person consequences. Ongoing research and development are expanding the variety of immunotherapeutic options, making lung cancer a focal point in the market. Its prominence underscores immunotherapy’s significant role in cancer treatment’s evolving panorama.

Application – The Cancer Immunotherapy Market has been covered from seven viewpoints

  1. Lung Cancer
  2. Breast Cancer
  3. Colorectal Cancer
  4. Melanoma
  5. Prostate Cancer
  6. Head & Neck Cancer
  7. Others

Hospitals are enthusiastically adopting immunotherapy in the medical landscape due to its remarkable success in treating various diseases, especially cancer

Immunotherapy harnesses the body’s immune system to target and combat illnesses, offering less invasive, more targeted, and often more effective treatments. As the demand for these innovative therapies grows, hospitals are integrating immunotherapy into their standard care protocols, recognizing the potential to improve patient outcomes and reduce the side effects associated with traditional treatments. This growing acceptance of immunotherapy underscores its transformative role in modern healthcare.

End-Users – The Cancer Immunotherapy Market has been covered from three viewpoints

  1. Hospital
  2. Cancer Research Centre
  3. Clinics

China is poised for substantial growth in the upcoming forecast period within the immunotherapy market

China’s vast population, alongside a growing cancer prevalence of 4.3 million new cases a year, fuels immunotherapy demand. Government prioritization, funding, and supportive rules further enhance growth. Increasing focus, with 80% of people in China living with cancer interested in immunotherapy, drives demand, aided by favourable guidelines, and fast-track approvals from the National Medical Products Administration. The domestic immunotherapy industry, led by employing groups like BeiGene, Legend Biotech, and Innovent BioScience, is poised to increase the Chinese immunotherapy market noticeably in the upcoming forecast period.

Region– The Immunotherapy Market has been covered from six viewpoints

  1. North America (United States, Canada)
  2. Europe (Germany, United Kingdom, France, Italy, Spain, and Switzerland)
  3. Asia Pacific (Japan, China, India, Australia, South Korea, and Indonesia)
  4. South America (Brazil, Argentina, and Mexico)
  5. Middle East & Africa (South Africa, Saudi Arabia and United Arab Emirates)
  6. Rest of world

Competitive Landscape

Leading names in the Cancer Immunotherapy Market include Bristol-Myers Squibb Company, Seattle Genetics Inc., Eli Lilly & Company, Johnson & Johnson, Novartis AG, Pfizer Inc., Bayer AG, AstraZeneca, and Amgen Inc.

Company Insights

  • Overview
  • Recent Development and Initiatives
  • Sales Analysis

Cancer Immunotherapy Market Top Companies Analysis

  1. Bristol-Myers Squibb Company
  2. Seattle Genetics Inc.
  3. Eli Lilly & Company
  4. Johnson & Johnson
  5. Novartis AG
  6. Pfizer Inc.
  7. Bayer AG
  8. AstraZeneca
  9. Amgen Inc.

Related Reports

Allergic Conjunctivitis Market, Size, Global Forecast, Growth, Companies

Sports Medicine Market, Size, Global Forecast, Growth, Companies

Epilepsy Drugs Market, Size, Global Forecast, Growth, Companies

About the Company: 

Renub Research is a Market Research and Information Analysis company with more than 14 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 7000 syndicated reports and worked on more than 500 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

Media Contact:

Company Name: Renub Research

Contact Person: Rajat Gupta, Marketing Manager

Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)

Address: 225 Kristie Ln, Roswell, GA 30076

Email: info@renub.com

LinkedIn: https://linkedin.com/company/renub-research

Website: www.renub.com

Thank You

Cancer Immunotherapy Market Size, Share, Industry Trends, Report 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Cancer Immunotherapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global cancer immunotherapy market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Cancer Immunotherapy Market?

The global cancer immunotherapy market size reached US$ 106.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 182.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2023-2028.

Cancer is a disease starting in any tissue or organ of the body on account of the abnormal cell growth that invades the adjoining parts and spreads to other organs. Cancer immunotherapy is a treatment that improves the ability of the immune system in fighting this disease. It is utilized in treating several types of cancers, including melanoma, breast, colorectal, prostate, head and neck, lung, etc. Cancer immunotherapy works by activating immune system by triggering a response capable of destroying the cancer cells. As a result, it finds extensive applications in hospitals, cancer research centers, clinics, etc., across countries.

Request Free Sample Copy of This Report: https://www.imarcgroup.com/cancer-immunotherapy-market/requestsample

What are the growth prospects and trends in the cancer immunotherapy industry?

The escalating number of cancer patients across the globe is among the primary factors driving the cancer immunotherapy market. Besides this, the elevating utilization of monoclonal antibodies to treat various types of cancer by selectively attacking cancerous cells is further augmenting the market growth.

Apart from this, the rising prevalence of multiple myeloma and melanoma is also catalyzing the global market. Moreover, the introduction of various patient assistance programs that offer financial assistance to low-income individuals to cater to drug coverage is acting as another significant growth-inducing factor.

Furthermore, the development of advanced treatment variants with improved efficacy and the continuous technological advancements in clinical therapies are expected to bolster the cancer immunotherapy market in the coming years.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Therapy Type:

  • Monoclonal Antibodies
  • Cancer Vaccines
  • Checkpoint Inhibitors
  • Immunomodulators
  • Others

Breakup by Application:

  • Lung Cancer
  • Breast Cancer
  • Colorectal Cancer
  • Melanoma
  • Prostate Cancer
  • Head and Neck Cancer
  • Others

Breakup by End User:

  • Hospitals
  • Cancer Research Centers
  • Clinics
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Amgen Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Johnson & Johnson, Merck KGAA, Novartis AG, Pfizer Inc., Sanofi, and Seagen Inc.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

Follow us on Twitter: @imarcglobal

LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/