Cancer Immunotherapy Market Report and Forecast 2023-2031

The global cancer immunotherapy market size attained a value of USD 106.6 billion in 2022. The market is likely to grow at a CAGR of 11.60% during the forecast period of 2023-2031 to attain a value of USD 284.7 billion by 2031.

Cancer Immunotherapy Market: Introduction

Cancer immunotherapy is a type of cancer treatment that harnesses the power of the immune system to fight cancer. The immune system is the body's natural defence mechanism against foreign invaders, such as viruses and bacteria, and against abnormal cells, including cancer cells. Cancer immunotherapy works by boosting or directing the immune system to recognize and attack cancer cells more effectively.

There are several types of cancer immunotherapy, including:

• Checkpoint inhibitors: These drugs block the molecules that cancer cells use to evade the immune system, allowing the immune system to recognize and attack the cancer cells
• CAR T-cell therapy: This involves removing T-cells from a patient's blood, modifying them in a lab to target cancer cells, and then infusing them back into the patient's bloodstream
• Cancer vaccines: These vaccines are designed to stimulate the immune system to recognize and attack cancer cells
• Immune system modulators: These drugs are designed to boost the overall activity of the immune system

The benefits of cancer immunotherapy are many. Compared to traditional cancer treatments such as chemotherapy and radiation, immunotherapy tends to have fewer side effects and can be more targeted. In some cases, immunotherapy can even result in long-lasting remissions and cures. Immunotherapy is also being studied in the treatment of parasitic infections, such as malaria, by targeting specific molecules on the parasite's surface to trigger an immune response.

Cancer Immunotherapy Market Segmentations

The market can be categorised into therapy type, application, distribution channels, end use, and regions.

Market Breakup by Therapy Type

• Monoclonal Antibodies
• Cancer Vaccines
• Immunomodulators
• Immune Check Point Inhibitors
• Others

Market Breakup by Application

• Prostate Cancer
• Breast Cancer
• Skin Cancer
• Lung Cancer
• Melanoma
• Others

Market Breakup by Distribution Channels

• Hospitals Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

Market Breakup by End Use

• Hospitals and Clinics
• Cancer Research Centres

Cancer Immunotherapy Market Breakup by Region

North America

• United States of America
• Canada

Europe

• United Kingdom
• Germany
• France
• Italy
• Others

Asia Pacific

• China
• Japan
• India
• ASEAN
• Australia
• Others

Latin America

• Brazil
• Argentina
• Mexico
• Others

Middle East and Africa

• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Cancer Immunotherapy Market Scenario

The growth of the cancer immunotherapy market can be attributed to several factors. First, there is a growing incidence of cancer worldwide, which is driving the demand for effective and innovative cancer treatments. Second, the development of new immunotherapies, such as checkpoint inhibitors, CAR-T cell therapy, and cancer vaccines, is fuelling the growth of the market. Third, there is a significant investment in research and development activities in the field of cancer immunotherapy, which is resulting in the discovery of new targets and therapies.

North America is the largest market for cancer immunotherapy, followed by Europe and Asia Pacific. The high prevalence of cancer in North America, coupled with the availability of advanced healthcare infrastructure, is driving the growth of the market in the region. In Europe, the market growth is driven by the increasing government funding for cancer research and the development of novel immunotherapies. In Asia Pacific, the market is growing rapidly due to the rising incidence of cancer, the increasing adoption of immunotherapies, and the presence of a large patient pool.

However, the high cost of cancer immunotherapy is a major barrier to market growth. Many of the newer immunotherapies are expensive, which limits their adoption in low- and middle-income countries. In addition, the high cost of development and regulatory hurdles are also limiting the number of players entering the market.

Overall, the cancer immunotherapy market is poised for continued growth in the coming years, driven by factors such as the increasing incidence of cancer, the development of new immunotherapies, and the rising investment in research and development activities. However, addressing the high cost of immunotherapy and improving access to these treatments in low- and middle-income countries will be key to ensuring the market's sustained growth.

Key Players in the Global Cancer Immunotherapy Market

The report gives an in-depth analysis of the key players involved in the cancer immunotherapy market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:

• AstraZeneca
• F. Hoffmann-La Roche Ltd
• Amgen Inc
• Astellas Pharma Inc
• Bayer AG
• Bristol-Myers Squibb Company
• Novartis AG
• Genentech, Inc (Roche)
• Lilly
• Johnson & Johnson Services, Inc
• Immunocore, Ltd
• Merck