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  • Published On : Oct 2022
  • Code : CMI5274
  • Industry : Pharmaceutical
  • Pages : 168
  • Formats :

The global cancer immunotherapy market was valued at US$ 93,407.0 Mn in 2021 and is forecast to reach a value of US$ 180,137.7 Mn by 2028 at a CAGR of 9.9% between 2022 and 2028. The global cancer immunotherapy market is experiencing strong growth due to the increase in research and development (R&D) activities across the world. Moreover, increase in prevalence of cancer and increasing effectivity and accuracy of newer therapies is expected to boost growth of the market. However, factors such as high cost of cancer immunotherapy treatment and side effects of cancer treatment are major factors expected to hamper the growth of the market.

Global Cancer Immunotherapy Market: Regional Insights

Based on geography, the cancer immunotherapy market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period due to the increasing incidence of cancer and increase in demand for safe and effective cancer treatment in the region, especially in the United States. For instance, an immunotherapy is a type of cancer treatment that helps the immune system fight cancer. Cancer immunotherapy can work on many different types of cancer. According to the American Cancer Society (ACS), in 2022, there will be an estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States.

Asia Pacific is also expected to witness significant growth in the global cancer immunotherapy market due to the rising incidence of cancer and increase in demand for cancer treatment in the region, especially in India. For instance, according to a recent report by the Indian Council for Medical Research (ICMR), the number of Indians suffering from cancer is expected to rise to 29.8 million in 2025 from 26.7 million in 2021. This in turn is expected to aid in the growth of the global cancer immunotherapy market.

Figure 1. Global Central Nervous System Therapeutics Market Share (%), by Region, 2021

Cancer Immunotherapy  | Coherent Market Insights

Global Cancer Immunotherapy Market Drivers:

Increase in prevalence of cancer around the world is expected to augment growth of the cancer immunotherapy market over the forecast period. For instance, cancer immunotherapy enables the immune system to recognize and target cancer cells, making it a universal answer to cancer. According to the World Cancer Research Fund (wcrf.org), in 2020, around 18,094,716 million cases of cancer were diagnosed worldwide. With the burden growing in almost every country, preventing cancer is the significant public health challenge. This in turn is expected to increase demand for safe and effective cancer treatment, such as immunotherapy.

Increasing effectivity and accuracy of newer therapies is expected to boost growth of the global cancer immunotherapy market during the forecast period. Immunotherapy holds the potential to become more personalized, more precise, and more effective than current cancer treatments. Immunotherapy helps improve outcomes for people with several types of cancer that typically have a poor diagnosis. In April 2022, the U.S. Food and Drug Administration (FDA) approved two immunotherapy drugs to treat advanced melanoma. The combination consists of relatlimab and nivolumab (Opdivo) and will be marketed under the name Opdualag.

Global Cancer Immunotherapy Market Opportunities:

Rise in research and development (R&D) activities are expected to provide significant growth opportunities for players in the cancer immunotherapy market. For instance, increasing R&D is expected to increase number of immune therapeutic drugs approvals as an effective therapies and drives the market growth. In August 2021, UPMC launched Novasenta, a drug discovery and development company seeking novel & effective treatments for cancer. Novasenta focuses on the tumor microenvironment, or the ecosystem that surrounds and constantly interacts with the tumor inside the body, to develop immunotherapies.

Increase in demand or adoption of cancer immunotherapy drugs around the world is expected to offer lucrative growth opportunities for players in the global cancer immunotherapy market. For instance, in May 2022, Bristol Myers Squibb announced that the FDA has approved two Opdivo (nivolumab)-based regimens as first-line treatment for adult patients with unresectable advanced/metastatic esophageal squamous cell carcinoma regardless of PD-L1 status. Opdivo (nivolumab) is a type of cancer treatment drug called an immunotherapy. It is a treatment for a number of different types of cancer.

Global Cancer Immunotherapy Market Trends:

The recent trend in the global cancer immunotherapy market is the continuous development of immunotherapy drugs to fight cancer. Immunotherapy helps improve outcomes for people with several types of cancer that typically have a poor diagnosis. Thus, market players are focusing on developing novel drugs to meet the increase in demand for safe and effective drugs to treat different types of cancer. This in turn is expected to aid in the growth of the market.

With the increasing burden in almost every country, preventing cancer is a significant public health challenge worldwide, and this trend is expected to continue over the forecast period. As the prevalence of cancer is increasing, the demand for safe and effective treatment for cancer is also increasing with a rapid pace worldwide. Immunotherapy holds the potential to become more precise, personalized, and effective than current cancer treatments.

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Cancer Immunotherapy Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 102,122.1 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2028
Forecast Period 2022 to 2028 CAGR: 9.9% 2028 Value Projection: US$ 180,137.7 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Therapy Type: Monoclonal Antibodies, Cancer Vaccines, Immunomodulators, Immune Check Point Inhibitors, and Other Therapy Types
  • By Application: Prostate Cancer, Breast Cancer, Skin Cancer, Lung Cancer, and Other Applications
  • By End Users: Hospitals and Clinics, Cancer Research Centers, and Other End Users
Companies covered:

Novartis AG, Merck & Co. Inc., F-Hoffmann La Roche, Eli Lilly and Company, Bayer AG, AstraZeneca, Astellas Pharma Inc., Amgen Inc., OSE Immunotherapeutics SA, and Bristol- Myers Squibb Company, among others

Growth Drivers:
  • Increase in prevalence of cancer across the globe
  • Increasing effectivity and accuracy of newer therapies 
Restraints & Challenges:
  • High cost of cancer immunotherapy treatment
  • Side effects of cancer treatment

Global Cancer Immunotherapy Market Restraints:

High cost of cancer immunotherapy treatment is expected to hamper the growth of the global cancer immunotherapy market. For instance, cancer immunotherapy is very expensive and can cost more than US$ 100000 per patient. Immunotherapy cost in India ranges from INR 150,000 (US$ 2,091) - 455,000 (US$ 6500) per session. However, the costs can differ depending on various factors that play a major role in deciding the immunotherapy cost in India. The cost of each session varies and ranges according to clinical conditions.

Side effects of cancer treatment are expected to hinder growth of the cancer immunotherapy market. For instance, despite significant advancements in immunotherapy, clinical application of immunotherapy for cancer patients has some challenges associated with safety and efficacy. Some types of cancer immunotherapy may cause severe or even fatal allergic & inflammation-related reactions. However, these reactions are rare.

Figure 2. Global Central Nervous System Therapeutics Market Share (%), by Therapy Type, 2021

Cancer Immunotherapy  | Coherent Market Insights

Global Cancer Immunotherapy Market Segmentation:

The global cancer immunotherapy market report is segmented into Therapy Type, Application, End-User, and Geography.

Based on Therapy Type, the market is segmented into Monoclonal Antibodies, Cancer Vaccines, Immunomodulators, Immune Check Point Inhibitors, and Other Therapy Types. Of which, Monoclonal Antibodies Segment is expected to dominate the cancer immunotherapy market over the forecast period and this is attributed to the increasing research and development activities. Owing to several benefits of monoclonal antibodies (mAbs), they are being studied for treatment of various types of tumors.

Immunomodulators Segment is also expected to witness significant growth in the near future and this is owing to the increase in incidence of cancer across the globe. Immunomodulators such as cytokine modulators and growth factors are nonspecific therapies, and these therapies act as immune stimulating agents leading to improved responses against tumor cells.

Based on Application, the market is segmented into Prostate Cancer, Breast Cancer, Skin Cancer, Lung Cancer, and Other Applications. Out of which, Prostate Cancer Segment is expected to dominate the market over the forecast period and this is attributed to the increase in incidence of prostate cancer. Immunotherapy for prostate cancer works by helping a patient's own immune system fight back against cancer cells.

Breast Cancer Segment is also expected to witness significant growth in the near future and this is owing to the increase in incidence of breast cancer. Immunotherapy helps the immune system do a better job of identifying cancer cells so it can attack and kill them. Immunotherapy is used to treat some types of breast cancer.

Based on End User, the market is segmented into Hospitals and Clinics, Cancer Research Centers, and Other End Users. Out of which, Hospitals and Clinics Segment is expected to dominate the market over the forecast period and this is attributed to the rise in the patient pool and increase demand for safe and effective cancer treatment. Immunotherapy is generally given in hospitals or at physicians’ offices to handle and monitor adverse reactions, if any.

Cancer Research Centers Segment is also expected to witness significant growth in the near future and this is owing to the increase in focus on the development of novel immunotherapy drugs/therapies to treat different types of cancer. There has been a steady increase in the number of cancer research centers for cancer treatment in the past couple of decades.

Global Cancer Immunotherapy Market: Key Developments

In May 2022, UVA Health and Charlottesville-based Focused Ultrasound Center announced the launch of the Focused Ultrasound Cancer Immunotherapy Center, the world’s first center dedicated specifically to advancing a focused ultrasound and cancer immunotherapy treatment approach that could revolutionize 21st-century cancer care.

In August 2020, Amgen Inc. received the U.S. Food and Drug Administration (FDA) approval for the expansion of Kyprolis (Carfilzomib) in combination with Darzalex plus Dexamethasone in two dosing regimens for the treatment of relapsed multiple myeloma.

In July 2020, Daiichi Sankyo Company Ltd. entered into a development and commercialization agreement with AstraZeneca for Daiichi Sankyo’s DS-1062, a TROP2 directed DXd antibody drug conjugate (ADC), currently in phase 1 clinical development for non-small cell lung cancer (NSCLC) and triple negative breast cancer (TNBC).

Global Cancer Immunotherapy Market: Key Companies Insights

The global cancer immunotherapy market is highly competitive. This is attributed to the rise in incidence of cancer worldwide, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global cancer immunotherapy market are:

Novartis AG, Merck & Co. Inc., F-Hoffmann La Roche, Eli Lilly and Company, Bayer AG, AstraZeneca, Astellas Pharma Inc., Amgen Inc., OSE Immunotherapeutics SA, and Bristol- Myers Squibb Company among others.

*Definition: Immunotherapy for cancer is a cancer treatment that uses body's immune system to combat the disease. Immunotherapy helps the immune system fight cancer. Immunotherapy helps improve the outcomes for people with several types of cancer that typically have a poor diagnosis. Cancer immunotherapy can work on many different types of cancer.

Immunotherapy enables the immune system to recognize and target cancer cells, making it a universal answer to cancer. Immunotherapy is a type of cancer treatment that helps the body’s immune system fight cancer. Cancer immunotherapy work on many different types of cancer. Immunotherapy help improve outcomes for people with several types of cancer that typically have a poor diagnosis. In some cases, such as lung cancer and melanoma skin cancer, cancer immunotherapy has been successful at treating even advanced cancers.

Market Dynamics:

Increase in incidence/prevalence of cancer, increase in awareness among people about cancer, immunotherapy, rise in effectivity and accuracy of newer therapies, and increase in research and development activities are major factors expected to boost the growth of the global cancer immunotherapy market during the forecast period.

For instance, in May 2022, UVA Health and Charlottesville-based Focused Ultrasound Center announced the launch of the Focused Ultrasound Cancer Immunotherapy Center, the world’s first center dedicated specifically to advancing a focused ultrasound and cancer immunotherapy treatment approach that could revolutionize 21st-century cancer care.

Moreover, in May 2021, Astellas Pharma announced the approval of the XTANDI therapy (enzalutamide) by the European Commission. XTANDI is the only available approved oral treatment for three kinds of prostate cancer, including non-metastatic, metastatic hormone sensitive, and metastatic castration resistant.

Key features of the study:

  • This report provides in-depth analysis of the global cancer immunotherapy market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
  • This report profiles key players in the global cancer immunotherapy market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
  • Key companies covered as a part of this study include Novartis AG, Merck & Co. Inc., F-Hoffmann La Roche, Eli Lilly and Company, Bayer AG, AstraZeneca, Astellas Pharma Inc., Amgen Inc., OSE Immunotherapeutics SA, and Bristol- Myers Squibb Company among others.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
  • The global cancer immunotherapy market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cancer immunotherapy market.

Detailed Segmentation:

  • Global Cancer Immunotherapy Market, By Therapy Type:
    • Monoclonal Antibodies
    • Cancer Vaccines
    • Immunomodulators
    • Immune Check Point Inhibitors
    • Other Therapy Types
  • Global Cancer Immunotherapy Market, By Application:
    • Prostate Cancer
    • Breast Cancer
    • Skin Cancer
    • Lung Cancer
    • Other Applications
  • Global Cancer Immunotherapy Market, By End Users:
    • Hospitals and Clinics
    • Cancer Research Centers
    • Other End Users
  • Global Cancer Immunotherapy Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Middle East and Africa
    • South America
  • Company Profiles:
    • Novartis AG
    • Merck & Co. Inc.
    • F-Hoffmann La Roche
    • Eli Lilly and Company
    • Bayer AG
    • AstraZeneca
    • Astellas Pharma Inc.
    • Amgen Inc.
    • OSE Immunotherapeutics SA
    • Bristol- Myers Squibb Company

Frequently Asked Questions

The global cancer immunotherapy market size is estimated to be valued at US$ 102,122.1 Million in 2022 and is expected to exhibit a CAGR of 9.9% between 2022 and 2028.
Increase in prevalence of cancer across the globe and increasing effectivity and accuracy of newer therapies is fueling the growth of the market.
Monoclonal antibodies segment is the leading therapy type segment in the market.
High cost of cancer immunotherapy treatment and side effects of cancer treatment are major factors restraining growth of the market.
Major players operating in the market are Novartis AG, Merck & Co. Inc., F-Hoffmann La Roche, Eli Lilly and Company, Bayer AG, AstraZeneca, Astellas Pharma Inc., Amgen Inc., OSE Immunotherapeutics SA, and Bristol- Myers Squibb Company among others.

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