The global cancer immunotherapy market was valued at USD 85 billion in 2021 and expected to surpass around USD 277.1 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 12.6% from 2022 to 2030.
Key Takeaway:
Growth Factors
The global cancer immunotherapy market is primarily driven by the rising prevalence of cancer among the population and rising number of deaths associated with cancer disease. According to the International Agency for Research on Cancer, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe. The global cancer cases are estimated to grow by 47% from 2020 to 2040. It is expected that 28.4 million cases will be recorded in 2040, globally. Furthermore the traditional chemotherapy had certain disadvantages like organ failure and reoccurrence of cancer that drives the adoption of the new cancer immunotherapy among the patients. Furthermore, the technological advancements and development of new drugs has boosted the growth of the cancer immunotherapy market. The cancer immunotherapy directs the immune system to target the cancer affected cells and destroys the cancel cells. This therapy has less side effects and have long term treatment affects, which boosts the demand for the cancer immunotherapy across the globe.
Scope of the Cancer Immunotherapy Market Report
| Report Highlights | Details |
| Market Size | USD 277.1 Billion by 2030 |
| Growth Rate | CAGR of 12.6% From 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Technology, Cancer Type, End User, Region |
| Companies Mentioned | Amgen, Inc., Astrazeneca, PLC, Bayer AG, Bristol-Myers Squibb Company, Eli Lily And Company, F. Hoffmann-La Roche, Ltd, Pfizer, Inc., Johnson & Johnson, Merck KGAA, Novartis AG |
Technology Insights
Based on the technology, the monoclonal antibodies segment dominated the global cancer immunotherapy market in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast period. The monoclonal antibodies are efficient in targeting the specific cancer affected cells and treats that particular cell without harming the normal cells. Therefore, it is considered safer and has low toxicity as compared to that of the chemotherapy. The low toxicity and low side-effects of the monoclonal antibodies is boosting its demand among the cancer patients. Further, a total 73 monoclonal antibodies has been approved by the end of 2017, by EMA and FDA.
On the other hand, the checkpoint inhibitors are estimated to be the fastest-growing segment during the forecast period. This can be attributed to the rising adoption of the checkpoint inhibitors in the treatment of the cancer. The development strategies adopted by the market players like collaborations for the research and development of the checkpoint inhibitors is expected to drive the demand for the checkpoint inhibitors during the forecast period.
Cancer Type Insights
Based on the application, the lungs cancer segment dominated the global cancer immunotherapy market in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast period. This is simply attributed to the increased prevalence of lungs cancer among the global population. According to the International Agency for Research on Cancer, lungs cancer is the leading cause of cancer death across the globe. Around 1.8 million deaths were reported in 2020 due to the lungs cancer. It accounts for 18% of the global cancer deaths.
On the other hand, the breast cancer segment is estimated to be the fastest-growing segment during the forecast period. This can be attributed to the rapidly growing cases of breast cancer among the global women population. According to the International Agency for Cancer Research, breast cancer had surpassed the lungs cancer, by becoming the most diagnosed type of cancer. There were around 2.3 million or 11.7% of the new cancer cases reported as the breast cancer in 2020. Hence, this segment is expected to grow rapidly in the forthcoming years.
End User Insights
Based on the end user, the hospitals segment dominated the global cancer immunotherapy market in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast period. This can be attributed to the increased number of hospital admission related to the treatment of cancer. Furthermore, the increased number of government and private hospitals in across the globe is the first preference of the patients to receive treatment for various types of cancer. The rising penetration of hospitals across the globe along with the rising adoption of the latest treatment technologies is expected to further drive the growth of this segment.
On the other hand, the cancer research institutions is estimated to be the most opportunistic segment during the forecast period. The rising corporate and government investments in the research and development of the cancer treatment therapies and research activities on the immunotherapies is expected to drive the growth of this segment in the upcoming future.
Region Insights
Based on region, North America dominated the global cancer immunotherapy market in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast period. This can be attributed to the increased prevalence of cancer in the region coupled with the increased adoption of the cancer immunotherapy among the population. According to the American Cancer Society, over 1.8 million new cancer cases and 606,520 deaths were reported in the US in 2020. The lungs cancer, colorectal cancer, breast cancer, and prostate cancer are the top four cancers that prevails in the US. However, owing to the increased adoption of the cancer therapies in the region, the number of cancer deaths has declined by 29% since 1991.
On the other hand, Europe is estimated to be the most opportunistic market during the forecast period. This is due to the rising number of cancer cases and cancer deaths across Europe. According to the European Commission, around 2.7 million new cancer cases and around 1.3 million cancer deaths were reported in 2020. The geriatric population of aged 65 years or above were the most affected by cancer in Europe. Breast cancer has been recorded as the most diagnosed cancers across the European countries in 2020.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
Some of the prominent players in the global cancer immunotherapy market include:
Segments Covered in the Report
By Technology Type
By Cancer Type
By End User
By Distribution Channel
By Geography
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