Cancer Immunotherapy Market Size, Share, Analysis, Trends, Growth, 2032

Cancer Immunotherapy Industry Prospective:

The global cancer immunotherapy market size was worth around USD 120.93 billion in 2023 and is predicted to grow to around USD 412.28 billion by 2032, with a compound annual growth rate (CAGR) of roughly 14.60% between 2024 and 2032.

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Cancer Immunotherapy Market: Overview

Cancer immunotherapy refers to a type of medical system specially designed to assist the immune system to fight cancer cells. It is a form of biological therapy where substances made using living organisms are used to fight the fatal disease.

The immune system is responsible for protecting the body by fighting against infections. It is made up of tissues of the lymph system and white blood cells.

According to medical research, the inherent property of the immune system is to protect the body against serious conditions. Immune cells are generally located around the tumor. The presence of the immune cells, also known as tumor-infiltrating lymphocytes (TILs), is an indication that the body is fighting against the tumor.

However, in some cases, the cancer cells may avoid identification and destruction by TILs, resulting in the progression of cancer throughout the organ. Cancer immunotherapy represents a series of medical treatments designed to strengthen the immune system and allow it to fight with higher intensity.

The demand for cancer immunotherapy has been gradually growing due to the increased success rate of the treatment in certain types of cancer.

The cancer immunotherapy industry is expected to face growth restrictions due to the higher cost of treatment and limited medical insurance coverage.

Key Insights:

• As per the analysis shared by our research analyst, the global cancer immunotherapy market is estimated to grow annually at a CAGR of around 14.60% over the forecast period (2024-2032)
• In terms of revenue, the global cancer immunotherapy market size was valued at around USD 120.93 billion in 2023 and is projected to reach USD 412.28 billion by 2032.
• The cancer immunotherapy market is projected to grow at a significant rate due to the growing number of cancer cases across the globe.
• Based on cancer type, the lung cancer segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on end-user industry, the hospital segment is anticipated to command the largest market share.
• Based on region, North America is projected to dominate the global market during the forecast period.

Cancer Immunotherapy Market: Growth Drivers

Growing number of cancer cases across the globe will fuel the market demand rate

The global cancer immunotherapy market is expected to grow due to the rising number of cancer cases worldwide. According to the World Health Organization, more than 400,000 children develop cancer every year. Official reports indicate that cancer is one of the leading causes of medically-induced deaths across the globe.

According to the statistics published by the National Cancer Institute, around 20 million cases of cancer were detected in 2022. Some of the most prevalent cancer conditions include lung cancer, prostate cancer, breast cancer, cervical cancer, colorectal cancer, and stomach cancer.

One of the primary reasons for the lack of effective treatment for cancer is the limited information on the primary causes inducing the condition. Most cancers have certain risk factors that increase the chances of developing the condition.

For instance, lung cancer is predominantly caused by secondhand smoking, exposure to high air pollution, family history of lung cancer, exposure to arsenic & radon, and consumption of high doses of beta-carotene supplements, according to certain studies.

However, cases have emerged in which the patients were not exposed to any form of risk factors, making the condition difficult to treat, especially in advanced stages. There is an urgent need to develop effective cancer treatments to reduce the burgeoning pressure on the global healthcare infrastructure.

Rising awareness among the population about cancer and available treatments will promote positive market adoption

Cancer-related awareness among ordinary people has improved over the years. The increase in awareness initiatives and projects undertaken by governments and healthcare organizations has improved patient awareness, leading to early detection of the disease, which subsequently improves the success rate of the treatment.

In November 2024, the Andhra Pradesh government of India announced the launch of a new initiative through which the region will soon begin a state-wide cancer screening drive for all citizens over the age of 18 years. Such initiatives are likely to help fuel demand in the global cancer immunotherapy market.

Cancer Immunotherapy Market: Restraints

High cost of the treatment and limited medical reimbursements or coverage limit the industry’s expansion rate

The global industry for cancer immunotherapy is projected to be restricted due to the high cost of the treatment. For instance, the average cost of treatment in India is between USD 2000 to USD 6000. The cost increases further with the addition of expensive medicines and additional care.

In addition, medical reimbursements or coverage for cancer immunotherapy are limited as only a certain number of medical insurance companies offer plans, including the treatment program. The cost-related burden may impact acceptance of the treatment in low and middle-income countries.

Cancer Immunotherapy Market: Opportunities

Rising initiatives toward cancer research worldwide will generate extensive growth opportunities

The global cancer immunotherapy market is expected to generate growth opportunities due to the growing cancer research initiatives worldwide.

For instance, recent studies indicate that Chimeric Antigen Receptor (CAR)- T cells have the potential to revolutionize cancer treatment. A recent undertaking in the field involves the integration of CAR-T cells with antigen-based CAR enhancers. This combination will further provide low-affinity Interleukin (IL)-2 signaling, which is expected to limit adverse effects.

In October 2024, major national cancer institute centers in the US joined forces to raise funding for Artificial Intelligence (AI) technology. The centers that have joined hands are the Fred Hutch Cancer Center, Dana-Farber Cancer Institute, The Sidney Kimmel Comprehensive Cancer Center, Memorial Sloan Kettering Cancer Center, and the Whiting School of Engineering at Johns Hopkins.

The joint venture is expected to raise investments for the development of the Cancer AI Alliance (CAIA). Similarly, scientists from The Institute of Cancer Research, London, along with other researchers, are working on a multimillion-pound research program.

The study is focused on understanding the reason for half of the patients failing to respond to immunotherapy, which will help healthcare providers provide better care in the future.

Cancer Immunotherapy Market: Challenges

Selective therapy resistance to challenge the market expansion trends

The global industry for cancer immunotherapy is projected to be challenged by growing concerns over selective therapy resistance.

While some patients respond to the treatment method, over 50% of patients have shown limited or no improvements in their condition after undergoing immunotherapy. Hence, it is crucial for the industry players to learn the reason behind limited treatment resistance.

Cancer Immunotherapy Market: Segmentation

The global cancer immunotherapy market is segmented based on cancer type, technology type, end-user industry, and region.

Based on the cancer type, the global market segments are head & neck cancer, lung cancer, prostate cancer, melanoma, colorectal cancer, and others.

In 2023, the highest growth was in the lung cancer segment. The increasing number of patients with cancer-related to the lung has influenced higher segmental demand.

According to market research, lung cancer accounts for more than 17.9% of all cancer-related deaths worldwide. The growing exposure to toxic and harmful air conditions will lead to an increase in lung cancer patients.

Based on technology type, the global cancer immunotherapy industry is divided into checkpoint inhibitors, cytokines & immunomodulators, monoclonal antibodies, and others.

Based on end-user industry, the global market divisions are cancer research centers, clinics, and hospitals. In 2023, the highest demand was listed in the hospitals segment.

The growing number of cancer patients admitted to hospitals is fueling the segmental growth rate. In addition, the surge in healthcare investments in the form of the development of state-of-the-art cancer-specific hospital facilities will be critical to segmental revenue in the future. In 2020, the European Union spent nearly EUR 102 billion on cancer care, as per market studies.

Cancer Immunotherapy Market: Report Scope

Cancer Immunotherapy Market: Regional Analysis

North America to continue flourishing with highest revenue during the forecast period

The global cancer immunotherapy market is anticipated to be led by North America during the projection period. In 2023, the region was responsible for more than 42% of the global revenue, with the US emerging as the highest revenue generator. The increasing prevalence of cancer patients across North America is responsible for driving the demand for cancer immunotherapy.

According to the American Cancer Society, around 609,360 cancer deaths were reported in the US in 2022. In addition to this, the regional market is home to a world-renowned cancer research and treatment infrastructure attracting cancer patients from across the globe. Canada, for instance, is investing heavy amounts in the latest research & studies to understand the impact of cancer immunotherapy on patients.

In February 2023, the Ottawa Hospital in Canada participated in a breakthrough clinical trial that has shown exceptional results in the treatment of non-small cell lung cancer (NSCLC). The trial includes testing of a combination therapy on 268 patients who were resistant to immunotherapy. The combination included ceralasertib, targeted therapy, and durvalumab.

Cancer Immunotherapy Market: Competitive Analysis

The global cancer immunotherapy market is led by players like:

• Gilead Sciences
• Regeneron Pharmaceuticals
• Bristol Myers Squibb
• Eli Lilly and Company
• Incyte Corporation
• Roche
• Johnson & Johnson
• Bluebird Bio
• AstraZeneca
• Sanofi
• Merck & Co.
• Novartis
• AbbVie
• Pfizer
• Amgen.

The global cancer immunotherapy market is segmented as follows:

By Cancer Type

• Head & Neck Cancer
• Lung Cancer
• Prostate Cancer
• Melanoma
• Colorectal Cancer
• Others

By Technology Type

• Checkpoint Inhibitors
• Cytokines & Immunomodulators
• Monoclonal Antibodies
• Others

By End-User Industry

• Cancer Research Centers
• Clinics
• Hospitals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa