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Home ➤ Life Science ➤ Biotechnology ➤ Immuno-Oncology Market
Immuno-Oncology Market
Immuno-Oncology Market
Published date: March 2025 • Formats:
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  • Home ➤ Life Science ➤ Biotechnology ➤ Immuno-Oncology Market

Global Immuno-Oncology Market By Treatment Type (Immune Checkpoint Inhibitors, CAR T-cell Therapy, mAbs, Cancer Vaccines, and Oncolytic Virus Therapy), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2025-2034

  • Published date: March 2025
  • Report ID: 143626
  • Number of Pages: 250
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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  • Quick Navigation

    • Report Overview
    • Key Takeaways
    • Treatment Type Analysis
    • Key Segments Analysis
    • Market Dynamics
    • Market Restraints
    • Market Opportunities
    • Impact of macroeconomic factors / Geopolitical factors
    • Latest Trends
    • Regional Analysis
    • Key Players Analysis
    • Recent Developments
    • Report Scope

    Report Overview

    Global Immuno-Oncology Market was valued at US$ 47.3 Billion in 2024 and is expected to grow at a CAGR of 22.7% from 2025 to 2034. In 2024, North America led the market, achieving over 52.1% share with a revenue of US$ 24.6 Billion.

    Immuno-Oncology Market, Global Analysis, 2020-2024 (US$ Billion)

    Global 2020 2021 2022 2023 2024 CAGR
    Revenue 26.6 28.2 33.0 39.2 47.3 22.7%

    The global immuno-oncology market is shaped by several dynamic forces, including the growing prevalence of cancer, advancements in immunotherapy research, and increasing healthcare investments. A rising global cancer burden has spurred demand for innovative treatments, with immuno-oncology therapies offering promising alternatives to traditional approaches.

    Immuno-Oncology Market Size

    Technological advancements, such as improved biomarkers for personalized treatments and the development of combination therapies, are driving market growth. The success of immune checkpoint inhibitors, CAR-T therapies, and other novel treatments has fuelled optimism within the industry. However, challenges such as high treatment costs, side effects, and the risk of resistance in some patients remain obstacles.

    Additionally, regulatory hurdles and market access disparities across regions can limit global market penetration. Geopolitical factors and economic conditions also play a role in determining research funding and healthcare spending, influencing market dynamics. Despite these challenges, strong R&D pipelines and increasing collaborations between biotech companies and research institutions continue to drive market expansion.

    Key Takeaways

    • The global immuno-oncology market was valued at USD 47.3 billion in 2024 and is anticipated to register substantial growth of USD 366.3 billion by 2034, with 22.7% CAGR.
    • In 2024, the CAR T-cell therapy segment took the lead in the global market, securing 40.8% of the total revenue share.
    • North America maintained its leading position in the global market with a share of over 52.1% of the total revenue.

    Treatment Type Analysis

    Based on treatment type the market is fragmented into immune checkpoint inhibitors, CAR T-cell therapy, mAbs, cancer vaccines, and oncolytic virus therapy. Amongst these, immune checkpoint inhibitors segment dominated the global immuno-oncology market capturing a significant market share of 40.8% in 2024. The immune checkpoint inhibitors segment has dominated the global immuno-oncology market due to their transformative impact on cancer treatment.

    These therapies, such as pembrolizumab (Keytruda) and nivolumab (Opdivo), work by blocking proteins like PD-1, PD-L1, and CTLA-4, which cancer cells exploit to evade the immune system. By inhibiting these checkpoints, the drugs help restore the body’s ability to recognize and attack cancer cells. Their success in treating a wide range of cancers, including melanoma, lung cancer, and bladder cancer, has significantly contributed to their market leadership.

    Immuno-Oncology Market, Treatment Type Analysis, 2020-2024 (US$ Billion)

    Treatment Type 2020 2021 2022 2023 2024
    Immune Checkpoint Inhibitors 10.6 11.2 13.3 15.9 19.3
    CAR T-cell Therapy 2.5 2.7 3.3 4.0 4.9
    mAbs 11.6 12.2 14.2 16.8 20.1
    Cancer Vaccines 1.2 1.2 1.4 1.6 2.0
    Oncolytic Virus Therapy 0.8 0.8 0.9 1.0 1.1

    Immuno-Oncology Market Share

    Key Segments Analysis

    Treatment Type

    • Immune Checkpoint Inhibitors
    • PD-1/PD-L1 Inhibitors
    • Pembrolizumab (Keytruda)
    • Nivolumab (Opdivo)
    • Dostarlimab (Jemperli)
    • CTLA-4 Inhibitors (Ipilimumab (Yervoy))
    • Combination (PD-1/PD-L1+CTLA-4)
    • CAR T-cell Therapy
    • mAbs
    • Cancer Vaccines
    • Oncolytic Virus Therapy

    Market Dynamics

    Favourable Government Policies and Funding

    Favorable government policies and funding are playing a crucial role in driving the growth of the global Immuno-Oncology (IO) market. Governments across the world are increasingly recognizing the potential of immuno-oncology therapies in transforming cancer treatment, leading to enhanced funding for research and development.

    Government-backed initiatives such as the U.S. National Cancer Moonshot program have directed significant resources toward advancing cancer research, particularly in immuno-oncology and precision medicine. Funding support has enabled the exploration of MSI-H/dMMR biomarkers, which are crucial in identifying patients who may benefit from immunotherapies like checkpoint inhibitors.

    • In 2023, the U.S. National Cancer Institute (NCI) allocated over US$7.5 billion in funding for cancer research, which includes a significant focus on immuno-oncology and targeted therapies
    • The U.S. Department of Defense DoD allocated approximately US$100 million for cancer research in fiscal year 2021, which includes funding for immuno-oncology therapies and novel treatments for cancers with MSI-H/dMMR characteristics.

    Market Restraints

    Severe Side Effects of Treatments

    In some cases, these side effects can be life-threatening, leading to treatment discontinuation or long-term complications. For patients with cancers, therapies such as checkpoint inhibitors may also cause immune-related toxicity, which requires careful monitoring and management. These risks may deter patients and healthcare providers from fully embracing immunotherapies, especially in populations where other treatment options are available with fewer side effects.

    • The common side effects are high fever, fatigue, nausea, skin irritation and more severe complications like hypotension (low blood pressure) and organ failure in extreme cases.

    Market Opportunities

    Expansion of Combination Therapies

    The global immuno-oncology market lies in the expansion of combination therapies. Immuno-oncology treatments, particularly immune checkpoint inhibitors, have shown promising results in various cancers. However, their effectiveness can be limited in some patients. Combining these therapies with other treatment modalities, such as targeted therapies, chemotherapy, or personalized medicine, has the potential to enhance efficacy, overcome resistance, and broaden patient eligibility.

    This approach may also help in addressing unmet needs for cancers that are difficult to treat, like pancreatic or glioblastoma. The increasing understanding of tumor microenvironments and the immune system’s role in cancer progression offers further opportunities for developing novel combination strategies.

    Impact of macroeconomic factors / Geopolitical factors

    Macroeconomic and geopolitical factors significantly influence the global immuno-oncology market by affecting investment, research funding, and regulatory policies. Economic downturns or recessions can reduce healthcare budgets and limit public and private investment in innovative therapies, slowing the development of immuno-oncology treatments.

    Conversely, strong economic growth in key regions may boost healthcare spending, accelerating market expansion. Geopolitical tensions, such as trade conflicts or political instability, can disrupt the global supply chain for raw materials, manufacturing, and distribution of immuno-oncology drugs, leading to delays and increased costs.

    Latest Trends

    The global immuno-oncology market is witnessing several key trends that are shaping its growth. One prominent trend is the increasing adoption of combination therapies, where immune checkpoint inhibitors are being combined with other treatments like targeted therapies, chemotherapy, or radiation to enhance efficacy and overcome resistance in cancers.

    Another significant trend is the development of personalized medicine, with an emphasis on identifying biomarkers to tailor treatments to individual patients, improving outcomes and minimizing side effects. The use of bispecific antibodies, which can target multiple tumor antigens simultaneously, is gaining momentum as a promising approach.

    Regional Analysis

    North America leads the immuno-oncology market with a 52.1% share. The growing incidence of cancer, particularly colorectal, endometrial, and other cancers, has increased the demand for targeted therapies. Regulatory support from agencies like the U.S. Food and Drug Administration (FDA), which has approved several therapies, including checkpoint inhibitors such as pembrolizumab and nivolumab, has further propelled market growth.

    • The American Cancer Society (ACS) estimates that approximately 1.9 billion new cancer cases will be diagnosed in the U.S. in 2024. Around 609,000 cancer-related deaths are expected in the same year. The most commonly diagnosed cancers in the U.S. include breast cancer, lung cancer, prostate cancer, and colorectal cancer. For example, breast cancer is expected to account for about 20% of all new cancer cases.

    Immuno-Oncology Market Country/Regional Analysis, 2020-2024 (US$ Billion)

    Country/Region 2020 2021 2022 2023 2024
    U.S. 13.2 13.8 15.9 18.9 22.8
    Europe 5.8 6.3 7.5 9.0 11.0
    Japan 2.4 2.5 2.8 3.2 3.7

    Immuno-Oncology Market Region

    Key Regions and Countries

    North America

    • US
    • Canada

    Europe

    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Russia
    • Netherland
    • Rest of Europe

    Asia Pacific

    • China
    • Japan
    • South Korea
    • India
    • New Zealand
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC

    Latin America

    • Brazil
    • Mexico
    • Rest of Latin America

    Middle East & Africa

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA

    Key Players Analysis

    The global immuno-oncology market is highly competitive, characterized by the presence of established pharmaceutical companies, biotech firms, and emerging players. Key players include large pharmaceutical giants such as Bristol-Myers Squibb, Merck & Co., Roche, and AstraZeneca, which dominate the market with their advanced immunotherapies, such as PD-1/PD-L1 inhibitors and CAR-T cell therapies. These companies are focused on expanding their immuno-oncology portfolios through strategic partnerships, acquisitions, and extensive research and development efforts to address unmet needs in cancer treatment.

    Additionally, smaller biotech firms and startups are entering the market with innovative therapies, often focusing on novel immune checkpoints, combination therapies, and personalized treatment approaches. The competitive landscape is further shaped by the increasing number of clinical trials and collaborations, aiming to explore the potential of immuno-oncology in treating various cancers. With rapid technological advancements and evolving treatment regimens, competition remains fierce, making innovation and regulatory approval key drivers of success in this dynamic market.

    F. Hoffmann-La Roche Ltd is a Swiss multinational healthcare company, primarily known for its innovations in pharmaceuticals and diagnostics. Roche is a global leader in oncology, immunology, and neuroscience, with a strong emphasis on personalized medicine. It develops cutting-edge treatments and diagnostic tools to improve patient care, supported by significant investments in research and development.

    In addition, Bristol-Myers Squibb Company is an American global biopharmaceutical company, it focuses on the discovery, development, and delivery of innovative medicines for the treatment of serious diseases, particularly in oncology, immunology, and cardiovascular conditions. The company is renowned for its cancer immunotherapy treatments, such as Opdivo and Yervoy.

    Top Key Players

    • Pfizer Inc.
    • Merck & Co.
    • AstraZeneca
    • F. Hoffmann-La Roche Ltd
    • Bristol-Myers Squibb Company
    • Eli Lilly and Company
    • GSK plc.
    • BeiGene LTD.
    • Summit Therapeutics Inc.
    • Sanofi
    • Novartis AG
    • AbbVie Inc.
    • Amgen Inc.
    • Johnson & Johnson Services, Inc.

    Recent Developments

    • In April 2022, Merck announced that the European Commission has approved KEYTRUDA, Merck’s anti-PD-1 therapy, as monotherapy for the treatment of microsatellite instability-high (MSI-H) or deficient mismatch repair (dMMR) tumors in adults with unresectable or metastatic colorectal cancer after previous fluoropyrimidine-based combination therapy; advanced or recurrent endometrial carcinoma.

    Report Scope

    Report Features Description
    Market Value (2024) US$ 47.3 billion
    Forecast Revenue (2034) US$ 366.3 billion
    CAGR (2025-2034) 22.7%
    Base Year for Estimation 2024
    Historic Period 2020-2023
    Forecast Period 2025-2034
    Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments Covered By Treatment Type (Immune Checkpoint Inhibitors, CAR T-cell Therapy, mAbs, Cancer Vaccines, and Oncolytic Virus Therapy)
    Regional Analysis North America – US, Canada; Europe – Germany, France, The UK, Spain, Italy, Russia, Netherlands, Rest of Europe; Asia Pacific – China, Japan, South Korea, India, New Zealand, Singapore, Thailand, Vietnam, Rest of APAC; Latin America – Brazil, Mexico, Rest of Latin America; Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of MEA
    Competitive Landscape Pfizer Inc., Merck & Co., AstraZeneca, F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company , Eli Lilly and Company , GSK plc., BeiGene LTD. , Summit Therapeutics Inc., Sanofi, Novartis AG, AbbVie Inc., Amgen Inc., Johnson & Johnson Services, Inc.
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)
    Immuno-Oncology Market
    Immuno-Oncology Market
    Published date: March 2025
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    • Pfizer Inc Company Profile
    • Merck & Co.
    • AstraZeneca Plc Company Profile
    • F. Hoffmann-La Roche Ltd
    • Bristol-Myers Squibb Company
    • Eli Lilly and Company
    • GSK plc.
    • BeiGene LTD.
    • Summit Therapeutics Inc.
    • Sanofi Company Profile
    • Novartis AG Company Profile
    • AbbVie Inc. Company Profile
    • Amgen Inc.
    • Johnson & Johnson Services, Inc.
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