The global immuno-oncology market size was estimated to be USD 40.74 billion in 2023 and is expected to reach USD 396.07 billion by 2034 with a CAGR of 22.94% during the forecast period 2024-2034. Rising cancer incidence, shift towards personalized medicine, increasing R&D investment, growing awareness and adoption, government and regulatory support, rising technological advancements, and increasing focus on combination therapies will drive the market growth.
Traditional cancer therapies, such as chemotherapy, can have severe side effects and are ineffective. Immuno-oncology medicines, on the other hand, provide a more customized treatment option. These medicines can be customized to the precise genetic composition of the tumor by using the patient's immune system to attack cancer, perhaps leading to superior results with fewer side effects. For instance, in December 2023, the FDA gave Breakthrough Therapy designation to Bristol Myers Squibb for the PD-1 inhibitor Opdivo in conjunction with the LAG-3 inhibitor relatlimab for advanced unresectable hepatocellular carcinoma (HCC).
By treatment type, the immune checkpoint inhibitors segment accounted for the highest revenue-grossing segment in the global immuno-oncology market in 2023 owing to the remarkable success of clinically validated drugs targeting key checkpoints such as PD-1 and PD-L1, which have demonstrated unprecedented efficacy in a wide spectrum of cancers. The widespread adoption of these inhibitors as standard-of-care treatments, coupled with their expanding indications across multiple malignancies, further solidified their dominance in the market. For instance, Merck & Co., Inc.'s Keytruda (PD-1 inhibitor) was authorized in December 2023 in combination with chemotherapy for the first-line treatment of advanced esophageal squamous cell carcinoma. Additionally, the immune system modulators segment is predicted to grow at the fastest CAGR during the forecast period owing to continuous evolution of innovative therapeutic approaches, including novel cytokines, co-stimulatory agonists, and other immunomodulatory agents. This dynamic growth is further fueled by ongoing research and development activities aimed at identifying new targets and mechanisms to enhance the immune system's ability to recognize and eliminate cancer cells.
By disease type, the melanoma and lung cancer segment accounted for the highest revenue-grossing segment in the global immuno-oncology market in 2023 owing to the substantial success of immune checkpoint inhibitors and other immunotherapies specifically tailored for these challenging malignancies. For instance, Roche's Tecentriq (PD-L1 inhibitor) was authorized in December 2023 in combination with chemotherapy for the first-line treatment of locally advanced or metastatic urothelial cancer. Additionally, the blood cancers segment is predicted to grow at the fastest CAGR during the forecast period owing to escalating demand for and advancements in chimeric antigen receptor (CAR) T-cell therapies, which have demonstrated remarkable success in the treatment of hematological malignancies such as leukemia and lymphoma.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global immuno-oncology market in 2023 owing to the pivotal role played by hospitals as key distribution points for specialized cancer treatments, including immunotherapies. The complex nature of immuno-oncology drugs, often requiring careful administration and monitoring, aligns with the capabilities of hospital pharmacies in managing and dispensing these advanced therapies. For instance, Eli Lilly and Company's Verzenio (CDK4/6 inhibitor) was authorized for first-line therapy of HR+, HER2- early breast cancer in conjunction with letrozole in December 2023. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend towards digital healthcare solutions, the convenience offered by online platforms, and the rising preference for remote medication access.
North American region is anticipated for the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, robust research and development activities, and high adoption rates of advanced immuno-oncology therapies. The presence of major pharmaceutical companies, academic institutions, and a supportive regulatory environment has facilitated the rapid development, approval, and commercialization of immunotherapeutic drugs. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the expanding healthcare infrastructure, rising prevalence of cancer, increasing investments in research and development, and a growing awareness and acceptance of immuno-oncology therapies. For instance, Regeneron Pharmaceuticals' Libtayo (PD-1 inhibitor) was authorized in December 2023 for the first-line treatment of locally advanced or metastatic urothelial cancer in conjunction with chemotherapy.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Traditional cancer therapies, such as chemotherapy, can have severe side effects and are ineffective. Immuno-oncology medicines, on the other hand, provide a more customized treatment option. These medicines can be customized to the precise genetic composition of the tumor by using the patient's immune system to attack cancer, perhaps leading to superior results with fewer side effects. For instance, in December 2023, the FDA gave Breakthrough Therapy designation to Bristol Myers Squibb for the PD-1 inhibitor Opdivo in conjunction with the LAG-3 inhibitor relatlimab for advanced unresectable hepatocellular carcinoma (HCC).
By treatment type, the immune checkpoint inhibitors segment accounted for the highest revenue-grossing segment in the global immuno-oncology market in 2023 owing to the remarkable success of clinically validated drugs targeting key checkpoints such as PD-1 and PD-L1, which have demonstrated unprecedented efficacy in a wide spectrum of cancers. The widespread adoption of these inhibitors as standard-of-care treatments, coupled with their expanding indications across multiple malignancies, further solidified their dominance in the market. For instance, Merck & Co., Inc.'s Keytruda (PD-1 inhibitor) was authorized in December 2023 in combination with chemotherapy for the first-line treatment of advanced esophageal squamous cell carcinoma. Additionally, the immune system modulators segment is predicted to grow at the fastest CAGR during the forecast period owing to continuous evolution of innovative therapeutic approaches, including novel cytokines, co-stimulatory agonists, and other immunomodulatory agents. This dynamic growth is further fueled by ongoing research and development activities aimed at identifying new targets and mechanisms to enhance the immune system's ability to recognize and eliminate cancer cells.
By disease type, the melanoma and lung cancer segment accounted for the highest revenue-grossing segment in the global immuno-oncology market in 2023 owing to the substantial success of immune checkpoint inhibitors and other immunotherapies specifically tailored for these challenging malignancies. For instance, Roche's Tecentriq (PD-L1 inhibitor) was authorized in December 2023 in combination with chemotherapy for the first-line treatment of locally advanced or metastatic urothelial cancer. Additionally, the blood cancers segment is predicted to grow at the fastest CAGR during the forecast period owing to escalating demand for and advancements in chimeric antigen receptor (CAR) T-cell therapies, which have demonstrated remarkable success in the treatment of hematological malignancies such as leukemia and lymphoma.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global immuno-oncology market in 2023 owing to the pivotal role played by hospitals as key distribution points for specialized cancer treatments, including immunotherapies. The complex nature of immuno-oncology drugs, often requiring careful administration and monitoring, aligns with the capabilities of hospital pharmacies in managing and dispensing these advanced therapies. For instance, Eli Lilly and Company's Verzenio (CDK4/6 inhibitor) was authorized for first-line therapy of HR+, HER2- early breast cancer in conjunction with letrozole in December 2023. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend towards digital healthcare solutions, the convenience offered by online platforms, and the rising preference for remote medication access.
North American region is anticipated for the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, robust research and development activities, and high adoption rates of advanced immuno-oncology therapies. The presence of major pharmaceutical companies, academic institutions, and a supportive regulatory environment has facilitated the rapid development, approval, and commercialization of immunotherapeutic drugs. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the expanding healthcare infrastructure, rising prevalence of cancer, increasing investments in research and development, and a growing awareness and acceptance of immuno-oncology therapies. For instance, Regeneron Pharmaceuticals' Libtayo (PD-1 inhibitor) was authorized in December 2023 for the first-line treatment of locally advanced or metastatic urothelial cancer in conjunction with chemotherapy.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Treatment Type, Disease Type, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Immuno-oncology Market Report 2023 - 2034
Immuno-oncology Market Analysis & Forecast by Treatment Type 2023 - 2034 (Revenue USD Bn)
- Immune Checkpoint Inhibitors
- Immune System Modulators
- Cancer Vaccines
- Oncolytic Virus
- Others
Immuno-oncology Market Analysis & Forecast by Disease Type 2023 - 2034 (Revenue USD Bn)
- Melanoma
- Lung Cancer
- Blood Cancer
- Renal Cell Carcinoma
- Prostate Cancer
- Bladder Cancer
- Others
Immuno-oncology Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Immuno-oncology Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Immuno-oncology Market: Treatment Type Estimates & Trend Analysis
8. Immuno-oncology Market: Disease Type Estimates & Trend Analysis
9. Immuno-oncology Market: Distribution Channel Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Immuno-oncology Market
12. Europe Global Immuno-oncology Market
13. Asia Pacific Global Immuno-oncology Market
14. Latin America Global Immuno-oncology Market
15. MEA Global Immuno-oncology Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Bristol Myers Squibb
- Merck & Co. Inc.
- Roche (Genentech)
- AstraZeneca
- Novartis
- Pfizer
- Amgen
- Gilead Sciences
- Regeneron Pharmaceuticals
- Eli Lilly and Company
- Sanofi
- GlaxoSmithKline (GSK)
- AbbVie
- Johnson & Johnson (Janssen Biotech)
- Seattle Genetics.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 40.74 Billion |
| Forecasted Market Value ( USD | $ 396.07 Billion |
| Compound Annual Growth Rate | 22.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
