Global Cancer Immunotherapy Market By Technology Type (Monoclonal Antibodies, Cytokines & Immunomodulators, and Others), By Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head & Neck Cancer, and Others), By End-user (Hospitals, Cancer Research Centers, and Clinics), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

Global Cancer Immunotherapy Market size is expected to be worth around USD 674 Billion by 2032 from USD 191 Billion in 2022, growing at a CAGR of 13.8% during the forecast period from 2022 to 2032.

A cancer treatment called cancer immunotherapy enhances the immune system’s ability against cancer. This treatment is better than the older technique, as it offers long-term protection against cancer, has fewer side effects, and can treat a wider variety of cancers. Different types of cancers can be treated with immunotherapy, including breast cancer, prostate cancer, and colorectal cancer.

Immunotherapy directs the immune system towards cancer-specific targets and activates the immune system to mobilize that target. This triggers a response capable of destroying cancer cells. The industry will continue to grow due to the rising incidence of cancer. The market is expected to gain momentum during the forecast period due to increased awareness about the importance of cancer immunotherapy.

The growth of the market for cancer immunotherapy is expected to be slowed by strict regulations. The government has better oversight over immunotherapy use and is responsible for clinical trials. This makes it more difficult for companies to enter the market and will likely hinder their growth. The market for cancer immunotherapy is expected to be hampered by the high cost of product development.

*Actual Numbers Might Vary In The Final Report

Key Takeaways

• The Cancer Immunotherapy Market is expected to reach USD 674 billion by 2032.
• The market is growing at a rate of 13.8% annually.
• Increasing prevalence of cancer and R&D efforts drive market growth.
• In 2022, the market was valued at USD 191 billion.
• Monoclonal antibodies and lung cancer treatments had a significant market share in 2022.
• Lung cancer treatment dominated the market share in 2023-2032.
• Hospitals are a major end-user of cancer immunotherapy.
• North America held the highest revenue share 43% in 2022.
• Europe had a revenue share of 25% in 2022.
• Factors driving market growth include the rising global cancer prevalence and technological advancements.
• Pharmaceutical companies invest heavily in R&D for cancer immunotherapies.
• Governments globally support cancer immunotherapy research.
• High treatment costs are a challenge for the market’s growth.

Technology Type Analysis

Monoclonal antibodies and the Lung Cancer segment account significant share of the global cancer immunotherapy market in 2022

The cancer immunotherapy market can be divided by technology type into monoclonal antibodies, cytokines, immunomodulators, and others. The largest share of monoclonal antibody sales in 2022 was due to the increased use of monoclonal antibodies for cancer immunotherapy. They have different properties that allow the immune system to be modulated and can therefore activate or inhibit specific molecules. Monoclonal antibodies can also trigger the antitumor immune reaction.

Application Analysis

lung cancer segment held the largest market share

The cancer immunotherapy market can be divided by application into five segments: lung cancer; breast cancer; colorectal cancer; prostate cancer; head and neck cancer, as well as other applications. Due to the high incidence of lung disease worldwide and the increase in awareness about the importance of early treatment, the market for lung cancer held the largest market share in 2022. It is expected to be the cancer immunotherapy market leader during the analysis period.

End-User Analysis

The hospital segment will account for a significant share of the global cancer immunotherapy market in 2022

Due to rising disease prevalence, increased awareness, increased treatment rates, and increased diagnosis of malignancies and the large number of hospitals offering immunotherapy treatments, the hospital segment will be the largest in recent years. Hospitals are increasingly using immunotherapy treatments to treat cancer conditions. According to Elsevier Inc.’s report, the number of patients receiving treatment at hospitals for melanoma is on the rise. It rose from 14.5% to 37% in 90 days after diagnosis.

The forecast period will see the cancer research centers segment grow rapidly. This segment growth can be attributed to increased oncology research and ongoing support activities by non-governmental organizations in the form of grants and funding to spur forward demand.

Key Market Segments

By Technology Type

• Monoclonal Antibodies
• Cytokines & Immunomodulators
• Others

By Application

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

By End-user

• Hospitals
• Cancer Research Centers
• Clinics

Drivers

Increasing prevalence of oncology

The cancer immunotherapy market is driven by the increasing prevalence of oncology around the world and a rise in R&D efforts to develop novel oncology therapies. Market growth will also be driven by the existence of many organizations that support immunotherapy research. The Parker Institute for Cancer Immunotherapy, for example, collaborated with industry leaders and researchers to create breakthrough immunotherapies for cancer.

The Global Cancer Observatory estimates that the United States reported approximately 2,281,658 cases of cancer in 2020 and 612,390 deaths related to cancer. The most common types of malignancies in the U.S. are breast, prostate, and lung cancers. According to the Cancer Council, Australia had 150,000 new cases of cancer and 50,000 deaths in 2020. Cancer immunotherapy market expansion is expected to be accelerated by the rising number of malignant tumors.

Increasing approval of new immunotherapies

Market growth is expected to be driven by the increasing approval of new immunotherapies. The U.S. FDA approved several anti-PD-1 antibodies during 2020-2022. These include nivolumab and avelumab and dostarlimab. They are used to treat NSCLC, renal cancer, melanoma, and breast malignancies. Market growth has been accelerated by the higher approvals for immunotherapeutic agents.

Restraints

High Cost of Cancer Immunotherapy Manufacturing Research and Development to Hamper Global Market Growth.

The global cancer immunotherapy market concerns both manufacturing and research costs, as well as the market price for end-users. Cancer immunotherapy research and development is expensive for developing organizations, so it can be difficult to obtain funds. Innovations that involve research require substantial investment.

The innovator is likely to receive significant profits. High investment is required for cancer immunotherapy. Companies are hesitant to enter this market because they don’t know if they will make a profit.

Opportunity

Increase R&D efforts to develop cancer immunotherapy

Cancer immunotherapy market expansion is enhanced by the presence of non-governmental and government organizations that promote awareness and research. Cancer Research Institute, for example, funded over 120 clinical trials and spent approximately USD 474 million on research. The Society for Immunotherapy of Cancer (SITC), on the other hand, is committed to improving patient outcomes through the advancement of science and the application of immunotherapy for cancer.

These organizations work with scientists and researchers to develop new treatment options for immune therapy. In addition, funding increases for the development and testing of new treatments are expected to increase R&D efforts to develop cancer immunotherapy.

In June 2022, a Stanford team received US$ 13 million in funding from Cancer Grand Challenges. This funding initiative was initiated by Cancer Research UK and the U.S. National Cancer Institute. This funding will be used to develop next-generation immunotherapies and study extrachromosomal genetic material. It also helps with early-stage malignancies.

Trends

Advanced technologies in cancer immunotherapy are becoming a popular trend in the market

The cancer immunotherapy market has seen a rise in the number of therapies and technologies that can be used to aid the immune system to identify and attack cancerous cells. These include immuno-oncology and cryoablation as well as bone marrow transplant and radiation therapy. These technologies can make a huge difference in the treatment and cure of cancer.

AstraZeneca plc (a UK-based pharmaceutical company and biotechnology company) announced in October 2022 that Capivasertib, which is combined with Faslodex, had been approved. This is a breast cancer immunotherapeutic that was developed to treat breast cancer. It is effective in recurrence and advancement of endocrine therapy in locally advanced or metastatic breast cancers with low or negative human Epidermal Growth Factor 2 (HER2), as well as in the management of HER2+.
Regional Analysis

North America region accounted significant share of the global cancer immunotherapy market in 2022

Regional analysis shows that North America was the largest revenue contributor. This can be attributed to the sharp rise in healthcare expenditures, increased emphasis on maintaining the best healthcare system, and an increase in cancer incidence worldwide. North America is expected to be a lucrative market for cancer immunotherapy in the future.

The region’s market is driven by well-developed healthcare infrastructure and increased government initiatives. North America’s high market share can be attributed primarily to the rise in cancer patients, increased adoption of immunotherapy, and the development of bioinformatics tools that improve drug development. The highest projected CAGR for Asia-Pacific during the analysis period is due to the rise in healthcare spending, the surge in per-capita income, and improvements in healthcare infrastructure.

Europe will be the second most revenue-shared region during the forecast period due to its infrastructure development and rising incidences. Asia Pacific will experience the fastest growth over the forecast period. In China and Japan, new and more advanced immunotherapy drugs were introduced. There are ongoing clinical trials in these countries, as well as FDA approvals for combination therapies and new drug molecules. The approval of new treatment drugs in China or Japan increases the acceptance of immunotherapy to treat tumors.

Key Regions

• North America
  • The US
  • Canada
  • Mexico

• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe

• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe

• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC

• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America

• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

There is a fragmented market for cancer immunotherapy. Both at the global and regional levels, there are many major players. Key players participate in product development and strategic alliances to expand their product portfolios and strengthen their position in the global market. Market demand will be supported by several strategic initiatives taken by top players.

Market Key Players

Market players are subject to intense competition from top market players, particularly those with strong brand recognition and high distribution networks. To stay on top of the market, companies have gained various expansion strategies such as partnerships and product launches.

The following are some of the major players in the global cancer immunotherapy industry

• Amgen Inc.
• Bayer AG
• AstraZeneca PLC
• Bristol-Myers Squibb Company
• F. Hoffmann-La Roche Ltd. (Genentech Inc.)
• Pfizer Inc.
• Eli Lily and Company
• Novartis AG
• Johnson & Johnson (Janssen Global Services LLC)
• Merck KGAA
• Other Key Players.

Recent Development

• 2022 Feb: Janssen Pharmaceutical Companies of Johnson & Johnson reported that CARVYKTI was approved by the U.S. Food and Drug Administration for the treatment of adults with relapsed/refractory multiple myeloma.
• 2022 Feb: Medigene AG and BioNTech Se collaborated to develop immunotherapies based on T-cell receptors for cancer.
• 2021 April: The U.S. Food and Drug Administration approved Opdivo (nivolumab) in collaboration with other chemotherapy for the first treatment of patients with advanced, metastatic, or gastroesophageal cancers, as well as esophageal cancer. This is the FDA’s first approved immunotherapy to treat gastric cancer.
• August 2022: Genmab A/S and BioNTech SE expanded their strategic partnership for the development and launched new immunotherapies for various types of cancer.
• 2022 March: Merck & Co., Inc also announced the approval of KEYTRUDA by the U.S. FDA, an anti-PD-1 treatment for advanced endometrial cancer, is available.

Report Scope