Cancer Immunotherapy Market (By Product; By Application; By Distribution: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy; By End Use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global cancer immunotherapy market size was estimated at around USD 125.73 billion in 2023 and it is projected to hit around USD 280.11 billion by 2033, growing at a CAGR of 8.34% from 2024 to 2033.

Key Pointers

• North America dominated the market with the largest market share of 45% in 2023.
• Asia Pacific region is poised to witness the fastest CAGR from 2024 to 2033.
• By Distribution Channel, the hospital pharmacy segment held the largest revenue share in 2023.
• By Distribution Channel, the online pharmacy segment is expected to expand at the highest CAGR from 2024 to 2033.
• By Product, the monoclonal antibodies segment generated the maximum market share of 67% in 2023.
• By Application, the lung cancer segment commanded the largest revenue share in 2023.
• By End Use, the hospitals & clinics segment registered the maximum market share in 2023

Cancer Immunotherapy Market Overview

In recent years, the landscape of cancer treatment has undergone a paradigm shift with the emergence of immunotherapy as a groundbreaking approach. Harnessing the power of the body's own immune system to combat cancer, immunotherapy has ushered in new hope for patients worldwide. This article provides a comprehensive overview of the cancer immunotherapy market, highlighting its key components, growth drivers, challenges, and future prospects.

Cancer Immunotherapy Market Growth Factors

The growth of the cancer immunotherapy market is driven by several factors. Firstly, the increasing prevalence of cancer globally fuels the demand for innovative treatment options, driving market expansion. Secondly, growing awareness among patients and healthcare professionals about the benefits of immunotherapy contributes to its adoption. Thirdly, advancements in biotechnology and genetic engineering enable the development of more effective and targeted immunotherapy treatments, driving research and investment in the field. Furthermore, the favorable regulatory environment for drug approvals facilitates the introduction of new immunotherapy drugs into the market. Overall, these factors collectively drive the growth of the cancer immunotherapy market, offering hope for improved outcomes and quality of life for cancer patients.

Cancer Immunotherapy Market Trends:

• Rapid Expansion: The cancer immunotherapy market continues to experience rapid growth, driven by increasing research and development activities, as well as rising investment from pharmaceutical companies and biotech firms.
• Advancements in Checkpoint Inhibitors: Checkpoint inhibitors, such as PD-1 and CTLA-4 inhibitors, remain at the forefront of immunotherapy research. Ongoing advancements in this area aim to enhance the efficacy and safety profile of these drugs, expanding their application across various cancer types.
• Personalized Medicine: The shift towards personalized medicine is driving the development of tailored immunotherapy treatments. This approach involves identifying biomarkers and genetic signatures to match patients with the most suitable immunotherapy regimen, leading to improved treatment outcomes.
• Combination Therapies: Combination therapies, which involve the use of multiple immunotherapy agents or combining immunotherapy with other treatment modalities like chemotherapy or targeted therapy, are gaining traction. These approaches aim to synergistically enhance anti-tumor immune responses and overcome resistance mechanisms.
• Emergence of CAR-T Cell Therapy: CAR-T cell therapy represents a revolutionary approach in cancer immunotherapy, particularly in hematologic malignancies. Ongoing research focuses on optimizing CAR-T cell therapy and expanding its application to solid tumors, promising significant growth potential in the market.
• Biosimilars and Generics: With the expiration of patents for certain immunotherapy drugs, the market is witnessing the entry of biosimilars and generics, offering more affordable treatment options and increasing competition among manufacturers.

Distribution Insights

In 2023, the hospital pharmacy segment emerged as the dominant force in the market. This dominance is attributed to the escalating demand for immunotherapies within hospital settings, coupled with a surge in hospitalizations due to the rising incidence of cancer. Particularly, the challenges associated with cancer treatment and the higher prevalence of patients aged over 65 years have contributed to an increased rate of hospital admissions among cancer patients. Consequently, the Hospital Pharmacy segment commands a significant share of the market, reflecting its substantial presence.

Meanwhile, the online pharmacy segment is poised for remarkable growth, projected to register a substantial compound annual growth rate (CAGR) throughout the forecast period. Several factors underpin this anticipated growth, notably the increasing demand for internet-based pharmacy services. This surge is fueled by factors such as the expanding reach of the internet, a rising adoption of telemedicine practices, and the widespread utilization of technology for healthcare purposes, all of which enhance convenience and time efficiency for consumers.

Product Insights

The monoclonal antibodies segment emerged as the leader in the market, capturing the largest revenue share of 67% in 2023. The increased investment in Research and Development (R&D) of monoclonal antibodies, including bispecific antibodies, conjugated monoclonal antibodies, and naked antigen binding antibodies, has paved the way for growth opportunities within the oncology therapeutics sector. Modern monoclonal antibodies are specifically engineered to confer adaptive immunity, antibody-dependent cellular toxicity, and antigen specificity, making them a focus of extensive research for their therapeutic potential against various cancer types.

Meanwhile, the oncolytic viral therapies and cancer vaccines segment is poised for significant market growth in the forecast period. The development of cancer vaccines, while facing obstacles such as the lack of immunogenicity and immunosuppressive effects within the tumor microenvironment, holds promise for addressing unmet medical needs. According to the American Association for Cancer Research in June 2023, the US Food and Drug Administration has approved only a limited number of therapeutic vaccines.

Application Insights

The lung cancer segment commanded the largest revenue share in 2023. This dominance is fueled by several key factors including the rising prevalence of lung malignancies, heightened awareness programs, increased adoption of immunotherapy, and a robust pipeline of investigational candidates. Additionally, the segment's growth is propelled by the continuous influx of product approvals and launches. For example, in November 2023, the US Food and Drug Administration (FDA) granted marketing authorizations to Augtyro (Bristol, Inc.) for the treatment of locally refractory or metastatic Non-Small Cell Lung Cancer (NSCLC) with Repotrectinib.

On the other hand, the Breast Cancer segment is poised to register a significant compound annual growth rate (CAGR) over the forecast period. This projection is driven by factors such as the high prevalence of the disease, ongoing research and development endeavors, and substantial investments by key industry players to introduce novel therapeutics for breast malignancies. Notably, in November 2023, AstraZeneca received FDA approval for their breast cancer drug capivasertib in combination with fulvestrant, further underscoring the segment's growth prospects.

End Use Insights

The hospitals & clinics segment held the largest revenue share in 2023. This dominance can be attributed to several factors, including the increasing incidence of diseases, higher treatment rates, heightened awareness, improved diagnosis of malignancies, and the availability of immunotherapies in a large number of hospitals. The adoption of immunotherapies by hospitals for cancer treatment is particularly noteworthy. According to an article published by the National Cancer Institute in April 2023, 25% of patients in the United States passed away in a hospital setting, with 62% being hospitalized at least once during the last month of life for cancer treatments.

Meanwhile, the Cancer Research Centers segment is expected to witness a significant compound annual growth rate (CAGR) over the forecast period. This growth trajectory is driven by increased research on cancer and supportive activities conducted by governmental or national organizations in the form of grant funding, aimed at stimulating demand. As reported by Becker's Healthcare in November 2023, Texas Oncology recently unveiled its Amarillo Comprehensive Cancer Center, representing a substantial investment of USD 150 million. This state-of-the-art facility is poised to advance cancer care by offering comprehensive services in the Amarillo region, thereby boosting the market.

Regional Insights

North America asserted its dominance in the market, capturing a significant 45% share in 2023. This stronghold is propelled by several factors, including increasing patient awareness, a high burden of disease, proactive government initiatives, technological advancements, and enhancements in healthcare infrastructure. Moreover, the presence of key industry players in this region significantly contributes to market growth. As reported by Elsevier Ltd. in April 2023, the US National Cancer Institute published its anticipated national cancer plan, outlining a roadmap and a call to action for enhancing all aspects of cancer care, from prevention and detection to diagnosis, treatment, and recovery.

Meanwhile, the Asia Pacific region is poised to witness the fastest compound annual growth rate (CAGR) in the global market. This growth trajectory is fueled by factors such as the burgeoning elderly population, a substantial number of patients with targeted diseases, and improvements in healthcare infrastructure. Additionally, the expansion of this region is facilitated by the increasing legal acceptance of immunotherapeutics. For instance, as per the MJH Life Sciences article published in November 2023, China's National Medical Products Administration approved durvalumab (Imfinzi) in combination with gemcitabine and cisplatin for frontline use in adult patients with locally advanced or metastatic biliary tract cancer, further underscoring the region's growth potential.

Cancer Immunotherapy Market Key Companies

• Pfizer Inc.
• AstraZeneca
• Merck & Co., Inc
• F. Hoffmann-La Roche Ltd
• Bristol-Myers Squibb Company
• Novartis AG
• Lilly
• Johnson & Johnson Services, Inc
• Immunocore, Ltd

Cancer Immunotherapy Market Segmentations:

By Product

• Monoclonal Antibodies
• Immunomodulators
• Oncolytic Viral Therapies & Cancer Vaccines

By Application

• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Melanoma
• Prostate Cancer
• Head & Neck Cancer
• Ovarian Cancer
• Pancreatic Cancer
• Others

By Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

By End Use

• Hospitals & Clinics
• Cancer Research Centers
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa