Cancer Immunotherapy Market Global Forecast Report by Products Application End Users Countries and Company Analysis, 2024-2032

Cancer Immunotherapy Market Analysis

Global Cancer Immunotherapy Market has been valued at US$ 96.5 billion by 2023 and will be valued at US$ 228.5 billion by 2032, with a CAGR of 10.05% between 2024 and 2032. The factors that will aid in the development of this market are: enhance expenditure on healthcare, emergence in the occurrence of cancer, rise in availability of medical insurance, and advancement in the technologies implemented in cancer treatment therapies.

Cancer Immunotherapy Overview

Immunotherapy for cancer employs the immune system of the body to fight cancer. Immunologic enhancement is another area in which it aids in the identification and destruction of malignant cells by the immune system. Examples include checkpoint inhibitors, CAR T-cell therapy, and cancer vaccines.

Cancer immunotherapy looks very promising in treatment of many types of cancer and its application has recently increased enormously, many clinical trials are currently running worldwide. Several immunotherapy drugs have been approved in the USA and Europe and are currently considered as the first-line therapy for some types of cancer. Nevertheless, access to, as well as the price of, creative work remains an issue in many locations. Researchers and practitioners are developing new treatments with multiple immunotherapy agents, individual patient treatments, and ways to overcome immunotherapy resistance.

Growth Factors in the Cancer Immunotherapy Industry

Rising Incidence of Cancer

The global cancer incidences rising over the years is a major driver of the global cancer immunotherapy market. Different types of cancer are increasingly being diagnosed and recorded across the globe especially with aging populations and areas with high risk factors such as smoking and pollution; therefore, there is the need to increase drug efficacy and specificity. Immunotherapy is much more efficient than traditional treatments such as chemotherapy, and radiation because it involves the activation of the immune system against cancer cells. The willingness of healthcare providers and patients to adopt immunotherapy for better survival and quality of life has heightened leading to increased demand and hence market growth. Global incidence of new cancer cases is expected to increase to 35 million in 2050, an increase of 77% from the current estimated 20 million in 2022. Population aging, population growth, and altering in people's exposure to risk factors are some significant causes, which are associated with the process of socioeconomic development.

Advancements in Immunotherapy Technologies

Technological trends are seen as one of the major forces that will shape the cancer immunotherapy market in the near future. Checkpoint inhibitors, CAR T cell therapy and personalized cancer vaccines are among the break through that have drastically changed cancer since patients are now able to get more effective treatments. These advanced treatments attack cancer cells while leaving the normal cells, thus fewer side effects, and a better quality of life in patients. Immunotherapy has also grown phenomenally and has continued to be researched, so more targets and treatment methods have been realized, which have widened the cancer types that can be addressed using immunotherapy. Since technology is continually enhancing, it will be possible to gain more and effective cancer immunotherapy to boost the market progress further.

Increased Investment and Collaboration

Cancer immunotherapy industry is gaining a lot due to an increase in investment and strategic partnership in the biopharmaceutical sector. Major pharmaceuticals, biotechnology companies and research organizations are devoting more of their resources on research and development of latest immunotherapeutic products and solutions. Significant financing from both sides of the business world and the government backs this increase, acknowledging the capacity of immunotherapy in altering the cannonade of malignant neoplasms. Contemporary business and university partnerships are progressing patient studies and the regulatory process for startups. The immunotherapy drug market is still in a developing stage although more drugs are in the market and has shown promising results and due to this many players and investors are likely to venture in the industry hence driving the market. Tagrisso (osimertinib) developed by AstraZeneca has been launched in Republic of China to be used in 1st-line treatment of adult patients with locally advanced or metastatic NSCLC with an EGFR mutation. This approval covers the employment of pemetrexed and platinum-based therapy for patients with particular mutations in their tumors.

Asia Pacific Cancer Immunotherapy Market Overview

The Asia-Pacific market for cancer therapy is expected to show a strong development in the future, due to the rising amount of cancer incidence, informational campaigns conducted by the governments, as well as patient support programs. In Asia-Pacific lung, stomach, colorectal, liver, and esophageal cancers are common. For instance, a piece called "Burden of cancers in India" estimated that the cancer burden in India is 26.7 million disability adjusted life years (DALYs) in 2021 and is estimated to rise as high as 29.8 million in 2025. This growing incidence and burden of cancer is a very key factor that is pressuring the market to grow.

Also, growth in the number of new approvals and the launch of high-quality products for cancer treatment also influences the growth of the market. For example, AstraZeneca India's Lynparza (Olaparib) was approved to act as an adjuvant treatment for particular kinds of breast cancer in adults. At the same time, Roche Pharma introduced PHESGO as a new treatment for HER2-positive breast cancer. Altogether, these factors point to considerable growth potential for the Asia-Pacific cancer therapy market in the years ahead.

Cancer Immunotherapy Market Company Overview

The leading companies in the global cancer immunotherapy market are Amgen Inc., AstraZeneca, Bayer AG, Bristol-Myers Squibb Company, Pfizer Inc., Novartis AG, Johnson & Johnson, Eli Lilly and Company, and Seattle Genetics Inc.

Cancer Immunotherapy Market News

The US FDA authorized FRUZAQLA (fruquintinib) for Takeda's previously treated metastatic colorectal cancer in December 2023.

In October 2023, The U.S. Food and Drug Administration (FDA) approved Merck's anti-PD-1 drug KEYTRUDA as neoadjuvant and adjuvant treatment after surgery for resectable non-small cell lung cancer (NSCLC) patients.

In October 2023, The U.S. Food and Drug Administration (FDA) authorized Pfizer's MEKTOVI (binimetinib) + BRAFTOVI (encorafenib) combination for the treatment of adult patients with metastatic non-small cell lung cancer (NSCLC) who have a BRAF V600E mutation as identified by an FDA-approved test.

Products - Market breakup in 3 viewpoints:

1. Monoclonal Antibodies

2. Immunomodulators

3. Cancer Vaccines

Application - Market breakup in 7 viewpoints:

1. Lung Cancer

2. Breast Cancer

3. Colorectal Cancer

4. Melanoma

5. Prostate Cancer

6. Head & Neck Cancer

7. Others

End User - Market breakup in 3 viewpoints:

1. Hospital

2. Cancer Research Center

3. Clinics

Country - Market breakup in 25 viewpoints:

North America

United States

Canada

Europe

Germany

United Kingdom

France

Italy

Spain

Switzerland

Asia Pacific

Japan

China

India

Australia

South Korea

Indonesia

Latin America

Brazil

Argentina

Mexico

Middle East & Africa

South Africa

Saudi Arabia

United Arab Emirates

Rest of the World

All the Key players have been covered from 4 Viewpoints:

1. Overviews

2. Key Person

3. Recent Developments & Strategies

4. Product Portfolio & Product Launch in Last 1 Year

5. Revenue

Company Analysis:

1. Amgen Inc.

2. AstraZeneca

3. Bayer AG

4. Bristol-Myers Squibb Company

5. Pfizer Inc

6. Novartis AG

7. Johnson & Johnson

8. Eli Lily Company

9. Seattle Genetics Inc