Cancer Immunotherapy Market Overview
The Cancer Immunotherapy Market is projected to reach USD 215.93 billion by 2030, driven by significant advancements in treatments that use the body’s immune system to fight cancer. This innovative treatment approach has gained widespread attention due to its long-term effectiveness, reduced side effects, and capacity to target various cancers. The growing number of cancer patients globally, along with technological advancements in bioinformatics, is set to fuel the market’s expansion.
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Market Dynamics and Growth Drivers
Chemotherapy and radiation therapy have long been the cornerstone of cancer treatment; however, they are associated with significant side effects that impact patients’ overall well-being. Immunotherapy, with its targeted approach, minimizes these side effects while offering more effective treatment outcomes. Monoclonal antibodies, checkpoint inhibitors, and cell-based therapies are emerging as some of the most popular therapeutic options in cancer immunotherapy.
The increasing adoption of immunotherapy is largely fueled by the growing number of cancer cases worldwide. According to the Maximize Market Research (MMR) report, lung cancer remains one of the most common types of cancer globally, with approximately 2.4 million new cases reported in 2022 alone. Additionally, cancer rates are rising in developing regions such as Asia Pacific and Africa, which now account for nearly 55% of all global cancer cases and 66% of cancer-related deaths.
Technological Innovations Driving the Market
The technological innovations in cancer immunotherapy, particularly the development of advanced monoclonal antibodies and checkpoint inhibitors, are a major catalyst for market growth. Monoclonal antibodies, which accounted for 42% of the market share in 2023, are proteins engineered to mimic the immune system’s ability to fight off harmful pathogens, including cancer cells. These antibodies are particularly effective in treating various types of cancer, including breast cancer, lymphoma, lung cancer, and brain cancer. By recognizing and binding to specific proteins on cancer cell surfaces, monoclonal antibodies can stimulate an immune response that targets and destroys cancer cells.
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Cancer Immunotherapy Market Regional Insights
Mergers & Acquisitions:
Merck recently expanded its oncology portfolio by acquiring Immunomedics, a leader in antibody-drug conjugates (ADCs).
Bayer AG partnered with Novartis in a major deal to enhance the development of new cancer immunotherapies targeting melanoma.
AstraZeneca continues to strengthen its pipeline by acquiring Immunomedics, aiming to build its leadership in cancer treatments globally.
Key Market Developments in Key Regions:
Vietnam & Thailand: Governments are increasing their healthcare investments, driving the adoption of advanced cancer treatments. Collaborations between local hospitals and international pharmaceutical giants like Pfizer and Johnson & Johnson are expected to increase treatment access.
Singapore & South Korea: These countries have become hotspots for cutting-edge cancer research and clinical trials. Bristol-Myers Squibb and Amgen are ramping up their R&D investments in these regions to develop and commercialize immunotherapy treatments.
Japan: Known for its technological advancements, Japan is expected to see rapid growth in the cancer immunotherapy market, with Novartis leading clinical trials focused on lung cancer treatments.
European Union: Countries like Germany, France, and the UK are becoming leaders in the adoption of cancer immunotherapy. AstraZeneca and Hoffmann-La Roche are making significant strides in advancing immunotherapy treatments.
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Cancer Immunotherapy Market Segmentation
by Technology
Monoclonal Antibodies
Cytokines
Others
In terms of technology, monoclonal antibodies held a 42% market share in 2023. They are mostly protective against cancer cells and can replicate, improve, and restore the immune system’s response. Numerous malignancies, including brain, lung, breast, and lymphoma, are treated with them. Based on the proteins on the cell surface of cancer cells and those of healthy cells, they are made to recognize cancer cells and trigger a specific immune response.
Over the course of the forecast period, cytokines are anticipated to rise at a CAGR of 5%. These are microscopic proteins that are crucial in controlling the development and function of blood cells and the immune system.
by Application
Lung Cancer
Breast Cancer
Melanoma
Prostate Cancer
Others
by End-Use
Hospitals
Cancer Research Centers
Cancer Immunotherapy Market Key Players
1. Merck
2. Bayer AG
3. ELI Lilly and Company
4. Novartis
5. Pfizer
6. Janssen Global Service
7. Jhonson and Jhonson
8. Amgen
9. AstraZeneca
10.Hoffmann-La Roche Ltd.
11.Bristol-Mayers Squibb
12.Squibb Company
13.Sun Pharmaceutical Industries Ltd
14.Fresenius Kabi AG
15.Dr. Reddy’s Laboratories Ltd.
16.Bausch Health
17.LUPIN
18.Teva Pharmaceutical Industries Ltd
19.Mylan N.V.
20.Hikma Pharmaceutical Plc.
21.Apotex Inc.
22.Immunomedics Inc.
23.Amneal Pharmaceutical Inc.
24.Aspen Holdings
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Key questions answered in the Cancer Immunotherapy Market are:
- What is Cancer Immunotherapy?
- What is the growth rate of the Cancer Immunotherapy Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Cancer Immunotherapy Market?
- What segments are covered in the Cancer Immunotherapy Market?
- Which are the factors expected to drive the Cancer Immunotherapy Market growth?
- What is the CAGR at which the Cancer Immunotherapy market will grow during the forecast period?
Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- PESTLE Analysis
- PORTER’s analysis
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