Immuno-Oncology Drugs Market Report 2025

The immuno-oncology drugs market size has grown rapidly in recent years. It will grow from $94.16 billion in 2024 to $106.92 billion in 2025 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to rise in the number of cancer cases, strong economic growth in emerging markets, increased healthcare expenditure, and an increase in pharmaceutical R&D expenditure.

The immuno-oncology drugs market size is expected to see strong growth in the next few years. It will grow to $153.16 billion in 2029 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to increasing investment in immuno-oncology, rising focus on immunotherapy drugs for cancer treatment, product innovations. Major trends in the forecast period include investing in developing personalized oncology drugs to treat specific patients, focus efforts on the development of next-generation biologics, focus on the development of antibody-drug conjugates, invest in AI solutions, reduce R&D costs and save development time, immune-oncology combination therapies to boost innovation and establish category leadership, and implement car-t therapies to boost innovations and establish category leadership.

The growth of the immuno-oncology drugs market is expected to be fueled by the global increase in cancer cases. Notably, the American Cancer Society reported in January 2022 that the US alone is projected to witness 1.9 million new cancer diagnoses and 609,360 cancer-related deaths, highlighting the severity of the issue. The most prevalent types of cancer globally, including lung, prostate, bowel, and female breast cancer, collectively account for 43% of all new cancer cases. As cancer incidence rates rise globally, there is an anticipated surge in demand for immuno-oncology drugs in the coming years.

The rising healthcare expenditure is anticipated to drive the growth of the immuno-oncology drugs market. Healthcare expenditure refers to the total funds spent by individuals, organizations, or governments on healthcare-related products and services during a specific timeframe. An increase in healthcare expenditure can enhance the development, accessibility, and use of immuno-oncology drugs, ultimately leading to better cancer treatment outcomes and greater patient access to these innovative therapies. For example, in 2022, the Office for National Statistics, a UK-based national statistics organization, reported that UK healthcare expenditure reached around $354.88 billion (£283 billion), representing a nominal increase of 0.7% compared to 2021. Thus, rising healthcare expenditure is expected to propel the immuno-oncology drugs market forward.

Major companies in the immuno-oncology drugs market are forming collaborations to develop and commercialize a novel checkpoint antibody aimed at improving the effectiveness of cancer treatments. These strategic partnerships promote innovation through the exchange of interdisciplinary knowledge, facilitating the quicker development of combination therapies, personalized treatments, and new drug delivery systems. For example, in March 2023, BioNTech SE, a Germany-based company, joined forces with OncoC4 Inc., a US-based pharmaceutical firm, to co-develop and commercialize a checkpoint antibody, specifically the anti-CTLA-4 monoclonal antibody candidate known as ONC-392. This collaboration seeks to enhance cancer treatment options across various solid tumor indications.

Leading companies in the immuno-oncology drugs market are prioritizing product development, such as Tebentafusp-TEBN, to broaden their product portfolios in cancer therapy. Tebentafusp-TEBN is a novel immuno-oncology drug that consists of a fusion protein combining a T-cell receptor (TCR) with an anti-CD3 antibody fragment. This unique construct is designed to target and engage T cells with cancer cells, especially melanoma, to activate the immune system's response against cancer. For instance, in January 2022, Immunocore, a UK-based biotechnology company, received Food and Drug Administration (FDA) approval for KIMMTRAK (Tebentafusp-TEBN) to treat HLA-A02:01-positive adult patients with unresectable or metastatic uveal melanoma. KIMMTRAK is a bispecific gp100 peptide-HLA-directed CD3 T cell engager that significantly extends overall survival in a randomized clinical trial, making it the first FDA-approved treatment for this condition.

In November 2023, AbbVie Inc., a US-based company, acquired ImmunoGen for $10.1 billion. This acquisition allows AbbVie to expand its portfolio by incorporating ImmunoGen's expertise in providing immuno-oncology drugs. ImmunoGen Inc. is a US-based company that specializes in immune checkpoint inhibitors.

Major companies operating in the immuno-oncology drugs market include F. Hoffmann-La Roche Ltd., Merck & Co., Bristol-Myers Squibb Company, Amgen Inc, Johnson & Johnson, AstraZeneca Plc, Eli Lilly and Company, Novartis International AG, Pfizer Inc., Sanofi S.A., Arlak Biotech, Apikos Pharma, Kolaz biotech, CStone Pharma, CARsgen Therapeutics, JW Therapeutics, BeiGene, Takeda Pharmaceuticals, Astellas Pharma Inc, Otsuka Pharmaceutical Co, Ltd, Legend Biotech Co, Zai Lab, Daiichi Pharmaceutical and Sankyo, AQVIDA GmbH, Baxter International Inc., GlaxoSmithKline plc, Affimed Therapeutics, Autolus Therapeutics, Cellectis, Celyad, GammaDelta Therapeutics, Immunocore, European Medical Center (EMC), Yauza Medical Center, Celon Pharma, Veropharm, Biocad, Selvita, OncoArendi Therapeutics Mabion, Fate Therapeutics, Forty-Seven, Arcus Biosciences, Gritstone Oncology, Rakuten Medical, Rubius Therapeutics, Allogene Therapeutics, Celgene Corporation, Bayer AG, Incyte Corporation, Recepta Biopharma, CSC Pharmaceuticals International, Blanver EN, Sandoz Brazil, Life Pharma, Julphar, NewBridge Pharmaceuticals, Eurolab.

North America was the largest region in the immuno-oncology drugs market in 2024. The regions covered in the immuno-oncology drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the immuno-oncology drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

Immuno-oncology drugs constitute a form of therapy or cancer treatment that utilizes drugs to either enhance or suppress the immune system, aiming to fortify the body's defenses against cancer, infections, and other disorders. These drugs leverage chemicals produced naturally by the body or synthesized in a laboratory to reinforce the immune system's capabilities, aiding the body in identifying and eliminating cancer cells.

The primary categories within the immuno-oncology drugs market include monoclonal antibodies, immune checkpoint inhibitors, immune system modulators, cancer vaccines, and others. Monoclonal antibodies are produced through the cloning of a single white blood cell, with each subsequent antibody traceable back to a single parent cell. Various therapeutic applications encompass melanoma, lung cancer, blood cancer, renal cell carcinoma, prostate cancer, bladder cancer, and others. The application of immuno-oncology drugs spans sectors such as hospitals, clinics, ambulatory surgical centers, and cancer research institutes.

The immuno-oncology drugs market research report is one of a series of new reports that provides immuno-oncology drugs market statistics, including industry global market size, regional shares, competitors with an immuno-oncology drugs market share, detailed immuno-oncology drugs market segments, market trends and opportunities, and any further data you may need to thrive in the immuno-oncology drugs industry. This immuno-oncology drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The immuno-oncology drugs market consists of sales of bevacizumab, alectinib, ibrutinib, imatinib, and palbociclib. Values in this market are factory gate values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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