New York, March 28, 2023 (GLOBE NEWSWIRE) — The Cancer Immunotherapy Market size accounted for USD 191 billion in 2022 and growth is estimated to accelerate at a CAGR of 13.8%, registering an incremental revenue of USD 674 billion by 2032. Cancer immunotherapy is a type of treatment that uses the body’s self-immune system to fight against cancer. It can increase stimulating the body’s natural defenses to attack cancer cells, introducing laboratory-made immune system components, or a combination of both systems.
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- By Technology, Monoclonal antibodies and the Lung Cancer segment accounted for a significant share of the global market in 2022.
- By Application, the lung cancer segment held the largest market share during the forecast period 2023 to 2032.
- By End-User, the hospital segment will account for a significant share of the global cancer immunotherapy market growth during the forecast period.
- In 2022, North America dominated the Market with the highest revenue share of 43.0%.
- Europe held a 25% revenue share in 2022.
Cancer immunotherapy may be used singly or in combination with other treatments, such as surgery, radiation therapy, or chemotherapy. Mainly it can be used to treat many different types of cancer, including breast, lung, and skin cancer. Cancer immunotherapy has been found to be a very effective treatment for different types of cancer, and it is becoming increasingly popular as a way to cure cancer.
Factors Affecting the Growth of the Global Cancer Immunotherapy Market
There are several factors that can affect the growth of the Factors Affecting the Growth of the global cancer immunotherapy industry.
Some of these factors include:
- Increasing Prevalence of Cancer: The prevalence of cancer is rising worldwide due to the high population and lifestyle changes. This is anticipated to be a significant factor driving the growth of the global cancer immunotherapy market.
- Technological Advancements: The introduction of newer treatment techniques in the cancer immunotherapy market, such as chimeric antigen receptor (CAR) T-cell therapy, cancer vaccines, and adoptive cell transfer (ACT) therapy, are expected to fuel the growth of the global cancer immunotherapy market
- Increasing Research and Development Activities: Pharmaceutical and biotechnology companies are investing highly in research and development activities to develop more effective and economical best cancer immunotherapies that are expected to drive the growth of the global cancer immunotherapy market.
- Increasing Government Support: Governments present globally are providing financial and other ways of support to research and development activities in the field of cancer immunotherapy. This is expected to increase the growth of the global cancer immunotherapy market.
- High Cost of Treatment: The cost of cancer immunotherapy is high due to the high price of R&D activities increase in developing cancer immunotherapies.
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Top Trends in the Global Cancer Immunotherapy Market
The global cancer immunotherapy market has significant trends, such as the market companies are majorly collaborating with other firms to develop more effective cancer immunotherapy treatments. These market collaborations are helping to decrease the cost of research and development, which is anticipated to drive the global cancer immunotherapy market. The recent advances in technology are enabling the development of more effective cancer immunotherapy treatments. This contains the development of personalized cancer vaccines and other therapies that target specific genes and proteins related to cancer.
The global cancer immunotherapy market is dominated by the North American region, which is anticipated to hold the largest share during the forecast period (2023-2032) due to factors such as the increasing prevalence of cancer, the availability of advanced healthcare infrastructure, and increasing awareness about the disease. The second largest regional Market is the Europe market for cancer immunotherapy. The Europe market is rapidly expanding due to the rising awareness about cancer immunotherapy treatment options and the increasing availability of drugs. The growing government investments in research and development activities are also driving market growth in the Europe region. The Asia Pacific is anticipated to witness a high growth rate due to the presence of a large geriatric population and the increasing prevalence of cancer in the region. Latin America and, the Middle East & Africa are anticipated to have a moderate growth rate in the global cancer immunotherapy market.
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Scope of the Report
|Market Value (2022)||USD 191 Billion|
|Market Size (2032)||USD 674 Billion|
|CAGR (from 2023 to 2032)||13.8%|
|North America Revenue Share||43.0%|
|Europe Revenue Share||25.0%|
|Historic Period||2016 to 2022|
|Forecast Year||2023 to 2032|
The cancer immunotherapy market is driven by a number of factors, including The rising prevalence of cancer globally. Several new therapies have been developed to treat different types of cancer. The development of new therapies has increased doctors to choose the most effective and safe treatment option for patients with cancer. Additionally, the major pharmaceutical companies are investing highly in the R&D of new cancer immunotherapies, which is anticipated to further drive the growth of the Market.
The cost of cancer immunotherapy research and development is expensive for people from developing organizations, so it can be challenging to obtain funds for treatment. New innovations that improve research requirements of substantial investment. High investment is required for cancer immunotherapy, so significant companies are hesitant to enter this Market because they don’t know if they will make a profit. The above factors are heavily restraining the global cancer immunotherapy market.
The global cancer immunotherapy market expansion is improved by the availability of non-governmental and government organizations that increase awareness and research& development. Moreover, improving patient outcomes through the advancement of science and the application of immunotherapy for cancer. These organizations work with scientists and researchers to develop new treatment options for the global cancer immunotherapy market.
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Report Segmentation of the Global Cancer Immunotherapy Market
The global cancer immunotherapy market is segmented on the basis of technology such as monoclonal antibodies, cytokines & immunomodulators, and other technologies. The monoclonal antibodies segment dominated the global market due to the heavy use of this application during the treatment of cancer. Monoclonal antibodies (mAbs) stimulate the body’s immune system to fight against cancer cells. They are human-made proteins designed to reach out and engulf specific proteins found on the surface of cancer cells, activating the body’s immune system to attack and destroy cancer cells. The Cytokines & Immunomodulators segment are proteins, peptides, or glycoproteins that can help to enhance the body’s ability to fight cancer. Others include vaccines, adoptive cell therapy, and checkpoint inhibitors.
The cancer immunotherapy market is segmented as per applications such as lung cancer, colorectal cancer, breast cancer, prostate cancer, melanoma, head & neck cancer, and others. Lung cancer is the leading cause of all cancers and is the most common cancer immunotherapy application, which furtherly dominates the global cancer immunotherapy market. Breast cancer is the second most common cancer immunotherapy application due to the high number of cases of breast cancer reported to date.
The global market by end-user is segmented into hospitals, clinics, and cancer research centers. The hospital segment dominates the global cancer immunotherapy market during the forecast timeline due to, they have the advanced infrastructure and facilities to provide the latest treatments and therapies. The cancer research centers segment is also a significant cancer end-users of immunotherapy, as they are responsible for developing innovative clinical studies and trials for new treatments and therapies. The last segment clinics are also essential end-users of the cancer immunotherapy market, as they provide cancer treatments and therapies to a variety of patients.
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By Technology Type
- Cancer Research Centers
- North America
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- The Czech Republic
- Rest of Eastern Europe
- South Korea
- Australia & New Zealand
- Rest of APAC
- Latin America
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- Rest of MEA
The competitive landscape of the Market has also been examined in this report. Some of the major players include
- Amgen Inc.
- Bayer AG
- AstraZeneca PLC
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd. (Genentech Inc.)
- Pfizer Inc.
- Eli Lily and Company
- Novartis AG
- Johnson & Johnson (Janssen Global Services LLC)
- Merck KGAA
- Other Key Players.
- 2022 Feb Janssen Pharmaceutical Companies of Johnson & Johnson reported that CARVYKTI was approved by the U.S. Food and Drug Administration for the treatment of adults with relapsed/refractory multiple myeloma.
- 2022 Feb Medigene AG and BioNTech Se collaborated to develop immunotherapies based on T-cell receptors for cancer.
- 2021 April The U.S. Food and Drug Administration approved Opdivo (nivolumab) in collaboration with other chemotherapy for the first treatment of patients with advanced, metastatic, or gastroesophageal cancers, as well as esophageal cancer. This is the FDA’s first approved immunotherapy to treat gastric cancer.
- August 2022, Genmab A/S and BioNTech SE expanded their strategic partnership for the development and launched new immunotherapies for various types of cancer.
- 2022 March Merck & Co., Inc also announced the approval of KEYTRUDA by the U.S. FDA, an anti-PD-1 treatment for advanced endometrial cancer, is available.
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