Cancer Immunotherapy Market

Cancer Immunotherapy Market (2024 to 2034)

The global cancer immunotherapy market is set to garner US$ 159.2 billion in revenue in 2024, according to Fact.MR, a market research and intelligence provider. Worldwide demand for cancer immunotherapies is projected to increase at a CAGR of 10% and reach a market value of US$ 412.8 billion by 2034.

Rising popularity of immunotherapy treatment due to its effective results is set to boost the overall market growth during the forecast period. The majority of leading companies are focused on the production of advanced drug solutions to support the effectiveness of immunotherapies. Furthermore, these industry giants are investing heavily in research and development activities.

The COVID-19 pandemic opened up new growth prospects for key manufacturers to focus on the production of anti-cancer drugs and cancer therapeutics. Need to prevent complications among cancer patients infected by the coronavirus also exacerbated the need for advanced critical care. The current scenario showcases that the growing prevalence of cancer and the importance of disbursing effective therapeutic approaches for cancer are driving the focus of governments on increased healthcare spending worldwide.

In most cancer cases, surgical procedures are opted to remove the tumor. Growing need for novel delivery approaches to cancer treatment is leading to the integration of peptide-based therapies and peptide-based drugs for effective results. These are some of the emerging cancer immunotherapy market trends to be followed over the coming years.

• The North American cancer immunotherapy market size is calculated to reach US$ 100.3 billion by 2034.
• East Asia is expected to capture 22.4% of the global cancer immunotherapy market share in 2024.

Report Attribute	Detail
Cancer Immunotherapy Market Size (2024E)	US$ 159.2 Billion
Forecasted Market Value (2034F)	US$ 412.8 Billion
Global Market Growth Rate (2024 to 2034)	10% CAGR
South Korea Market Value (2034F)	US$ 22 Billion
Cancer Immunotherapy Vaccine Demand Growth (2024 to 2034)	10.1% CAGR
Key Companies Profiled	Eli Lilly and Company; Pfizer, Inc.; Spectrum Pharmaceuticals, Inc.; GlaxoSmithKline Plc.; Amgen Inc.; Bristol-Myers Squibb Company; Janssen Biotech, Inc.; Novartis AG; AstraZeneca Plc.; F. Hoffmann-La Roche Ltd.; Merck & Co., Inc.; Sanofi; Takeda Pharmaceuticals; Immunocore, Ltd.

Which Dynamics are Influencing the Popularity of Cancer Immunotherapies?

“Novel Cancer Biomarkers Offering Effective Analysis for Immunotherapies”

Some of the leading companies are focusing on the use of novel biomarkers for effective cancer diagnosis and treatment. Biomarkers are effective cancer diagnostic indicators that provide full cancer analysis from the type of cancer to what kind of molecular dysregulation caused the progression of the disease. Development of biomarkers for immunotherapy at the cellular, soluble, and genomic levels is set to boost the profits of key producers over the coming years. Some of the biomarkers in immunotherapy include serum proteins, receptor expression patterns, and tumor microenvironment biomarkers.

“Increasing Cancer Burden Spurring Demand for Advanced Cancer Immunotherapies”

• According to the National Center for Biotechnology Information, in 2023, 1,958,310 new cancer cases and 609,820 cancer deaths were projected to occur in the United States.
• As per analysis by the World Health Organization (WHO), breast cancer is one of the most common malignancies in women worldwide.
• According to the same source, in 2022, the number of females living with breast cancer was around 2.3 million, and 670,000 deaths were noted due to breast cancer across the globe.

Global cases of cancer are expected to increase at a swift pace over the next 10 years. As such, governments across the world are investing heavily in the development of sustainable infrastructure for disseminating cancer by providing effective diagnostics and treatment measures. These aspects are set to offer high-growth opportunities for cancer immunotherapy providers.

Why is Cancer Immunotherapy a High-Growth Yet Challenging Field?

“Capital-Intensive Nature and Low Success Chances of Immunotherapy”

Several studies show that cancer is an extremely complex disease, and there is no single cure that can prove to be effective for all patients. However, key players in the cancer immunotherapy market are leveraging this opportunity to reach the optimum efficacy level of therapeutics to treat cancer with minimal side effects.

Key requisite to achieve product innovation is high working capital for experimentation and clinical trials, which poses challenges for manufacturers. Besides this, the risk of drug rejection leads to the wastage of resources. Studies also estimate that only 5% of anticancer drugs gain commercial license, post the success of Phase III trials, which is indicative of the high rejection rate of therapeutics in the cancer immunotherapy industry.

Start-up Ecosystem

• Nouscom is a Swiss start-up that manufactures viral-vectored genetic vaccines. The company offers NOUS-209, its leading immunotherapy candidate effective in the treatment of microsatellite instability (MSI) tumors and mismatch repair deficiency (dMMR).
• Palleon Pharmaceuticals is a start-up based in the United States that is focused on the development of immunosuppressive sialoglycan-sensing receptors in cells to treat cancer tumors. The company offers two technology platforms EAGLE (Enzyme-Antibody Glyco-Ligand Editing) and Convergence.

Country-wise Analysis

Why Do Cancer Immunotherapy Producers Have Huge Research and Manufacturing Units in the United States?

“Supportive Government Policies Boosting Growth of Cancer Drug Suppliers”

Attribute	United States
Market Value (2024E)	US$ 16.9 Billion
Growth Rate (2024 to 2034)	10.5% CAGR
Projected Value (2034F)	US$ 45.7 Billion

The United States leads the North American market and is set to capture a share of 45.6% by 2034. This can be attributed to favorable market dynamics such as progressive improvements in healthcare infrastructure and government initiatives in the mode of subsidies supporting key market players in carrying out R&D activities. Furthermore, market players are also expected to receive benefits from the United States federal government, such as tax exemptions and market exclusivity. Growing number of awareness campaigns regarding the diagnosis and treatment of cancer is also complementing cancer immunotherapy demand growth in the United States.

Will Rising Cancer Prevalence Push Immunotherapy Demand in Japan?

“Rapidly Increasing Geriatric Population with Chronic Disorders and Altering Lifestyles of Adults”

Attribute	Japan
Market Value (2024E)	US$ 10.3 Billion
Growth Rate (2024 to 2034)	10.5% CAGR
Projected Value (2034F)	US$ 28 Billion

• According to a BMC Medicine report, Asia accounts for half of the global cancer burden, with cancer incidence projected to rise to nearly 10.6 million by 2030.
• Japan is estimated to account for 28.9% of the East Asia market share in 2024.

Rapidly aging population, busy and stressful lifestyles, and socio-economic changes are expected to be lead to increasing cases of cancer in Japan. Most common cancer types include those of the lungs, breast, and colon. Furthermore, increased healthcare spending on developing advanced research & development facilities for designing high-grade oncology diagnostics and treatment solutions is set to boost the cancer immunotherapy market growth by 2034.

Category-wise Analysis

Which Cancer Type is Driving High Demand for Effective Immunotherapy?

“Lung Cancer Most Common Type of Malignancy”

• According to the American Cancer Society, around one-quarter of deaths are due to lung cancer in the United States. Apart from prostate cancer in men and breast cancer in women, lung cancer is the most common cancer diagnosed in people. This is believed to be due to increased smoking habits and intake of harmful drugs.

In addition, chances of lung cancer being detected at an early stage are less. Thus, rising cases of lung cancer worldwide are driving target patients’ attention toward cancer immunotherapies for better treatment.

What’s Boosting Demand for Immune Checkpoint Inhibitors?

“Ability of Immune Checkpoint Inhibitors to Trigger Antitumor Immune Response”

Attribute	Immune Checkpoint Inhibitors
Segment Value (2024E)	US$ 38.5 Billion
Growth Rate (2024 to 2034)	10.1% CAGR
Projected Value (2034F)	US$ 100.7 Billion

Immune checkpoints are a part of the immune system that majorly focus on the protection of healthy cells in the body during the treatment process. Immune checkpoint inhibitors stop the 'off' signal transmission and allow T cells to kill cancer. Immune checkpoint inhibitors are majorly used for the treatment of cancer.

Monoclonal antibody-based drugs also assist in flagging cancer cells, triggering cell-membrane destruction, inhibiting malignant cell proliferation, preventing blood vessel growth, easy chemotherapy delivery, and binding cancer and immune cells among other benefits.

Why Do Cancer Research Centers Account for a Leading Market Share?

“Cancer Research Centers Offer Advanced and Effective Immunotherapies”

Attribute	Cancer Research Centers
Segment Value (2024E)	US$ 43.9 Billion
Growth Rate (2024 to 2034)	10% CAGR
Projected Value (2034F)	US$ 113.9 Billion

Even though hospitals are the most favored medical settings, cancer research centers are equipped with advanced technologies that help offer effective diagnosis and treatment. Cancer research centers are institutions where studies related to cancer, research, and development of advanced diagnostic and treatment procedures are carried out. These centers also offer treatment to cancer patients.

Presence of advanced diagnostics and treatment equipment, medical professionals, and scientists, as well as therapeutics, supported by public and private funding, further improves the healthcare quality offered by research centers.

Competitive Landscape

Leading companies are capitalizing on conducting extensive clinical trials to verify the efficacy of various immunotherapy approaches, including vaccinations and oral drugs. Furthermore, market players are funding research studies to ascertain patterns of cancer prevalence across key geographies.

• In March 2024, the United States Food and Drug Administration (FDA) approved Bristol Myers Squibb’s ‘Opdivo® (nivolumab)’ in combination with gemcitabine and cisplatin for the first-line treatment of unresectable or metastatic urothelial carcinoma (UC) of adult patients.
• In 2021, Amgen Plc. announced its first combination study results from its Phase 1b/2 CodeBreaK 101 study, a comprehensive global clinical development program in patients with KRAS G12C-mutated advanced colorectal cancer. It showed that combining LUMAKRASTM (sotorasib) with Vectibix® (panitumumab) demonstrates efficacy and safety.
• In September 2021, Bristol-Myers Squibb Company conducted a survey that included 250 oncologists, surgeons, and specialists from countries such as the United States, Germany, and Japan. The survey revealed that immunotherapy has the potential to kill early-stage cancer.

Fact.MR provides detailed information about the price points of key providers of cancer immunotherapies positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.

Key Segments of Cancer Immunotherapy Market Research

• By Therapy :

  • Monoclonal Antibodies
  • Immune Checkpoint Inhibitors
  • Immune System Modulators
  • Cancer Immunotherapy Vaccines
  • Others

• By Cancer Type :

  • Lung
  • Colorectal
  • Breast
  • Prostate
  • Melanoma
  • Blood
  • Others

• By End User :

  • Hospitals
  • Ambulatory Surgical Centers
  • Cancer Research Centers
  • Clinics

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa