Global Cancer Immunotherapy Market Size, Trends & Growth Opportunity, By Therapy Type (Monoclonal Antibodies, Immune Checkpoint Inhibitors, Immune System Modulators, Cancer Vaccines, Others), By Therapeutic Area (Lung Cancer, Breast Cancer, Colorectal Can

Global Cancer Immunotherapy Market Size, Trends & Growth Opportunity, By Therapy Type (Monoclonal Antibodies, Immune Checkpoint Inhibitors, Immune System Modulators, Cancer Vaccines, Others), By Therapeutic Area (Lung Cancer, Breast Cancer, Colorectal Cancer, Blood Cancers, Others), By End User (Hospitals, Ambulatory Surgical Centers, Cancer Research Centers, Clinics), By Region & Forecast till 2027.

Global Cancer Immunotherapy Market

Global Cancer Immunotherapy Market was valued at US$ 82.8 Bn in 2021 and expected to reach at US$ 251.3 Bn by the end of 2027 with a CAGR of 11.2% from 2022 to 2027. Immunotherapy is a cancer treatment that enhances the immune system's ability to fight cancer. It is a kind of biological treatment. Biological therapy makes use of compounds derived from biological creatures or lab-created copies of these substances.

Cancer Immunotherapy is defined as “a cancer treatment that enhances the immune system's ability to fight cancer.” This therapy is advantageous than the old technique because it provides long-term cancer protection, has fewer side effects, and treats a broad range of cancer. Cancer immunotherapy is used in different types of cancers such as melanoma, prostate cancer, breast cancer, colorectal cancer, lung cancer, head & neck cancer, and more. Immunotherapy works by directing the immune system toward cancer-specific targets, activating the immune system to mobilize the target, and triggering a response capable of destroying cancer cells.

Market Drivers

Novel innovations as a result of rise in the R&D activities are driving the cancer immunotherapy market. For instance, on June 6, 2022, a major clinical breakthrough was witnessed in the treatment of cancer with the development of a drug called dostarlimb, which is effective against the rectal cancer. There are many factors, such as increase in healthcare expenditure, rise in incidence of cancer, surge in access to medical insurance, and surge in technological advancements in cancer treatment therapies expected to project the growth of the global cancer immunotherapy market.

Growing R&D activities, improvements in efficacy & accuracy of newer medicines, surge in adoption of target therapy over standard therapy, and rise in prevalence of cancer are the major factors moving the global cancer immunotherapy market. In addition, increase in incidence of cancer is a key factor driving the global cancer immunotherapy market. Increase in awareness programs regarding the need for cancer immunotherapy is expected to help the market gain traction during the forecast period.

Market Restraints

The global cancer immunotherapy market is concerned about both research and manufacturing costs as well as market price for the end-user. For a developing organization, cancer immunotherapy research & development requires large amounts of resources, which raises worries about receiving finances. Research activities involving new technology development require significant investment, which is expected to be received with significant profits by the innovator. Cancer immunotherapy is a niche segment and requires high investment. This deters companies to enter the market due to uncertainty of receiving expected profit.

Market Segmentation

The global cancer immunotherapy market is segmented into Therapy Type, Therapeutic Area, End User & Region. By Therapy Type market is segmented into Monoclonal Antibodies, Cancer Vaccines, Checkpoint Inhibitors, Immunomodulators, PD-1/PD-L1, CTLA-4, Cancer Vaccines, Others. By Therapeutic Area Market is segmented into Lung Cancer, Breast Cancer, Head and Neck Cancer,

Prostate Cancer, Colorectal Cancer, Melanoma, Blood Cancers Others. By End User Market is segmented into Hospitals, Ambulatory Surgical Centers, Cancer Research Centers, Clinics. By Region Market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.

Regional Analysis

The global cancer immunotherapy market is segmented into five regions such as North America, Europe, Asia Pacific, Latin America, and MEA. North America is projected to be a highly profitable market for cancer immunotherapy during the forecast period. Well-established healthcare infrastructure and increase in government initiatives are the major factors driving the market in the region. North America's large market share can be attributed to rise in number of patients suffering from cancer, increase in adoption rate of immunotherapy, and development of bioinformatics tools that enhance the drug development process. The market in Asia Pacific is expected to experience the fastest growth during the forecast period.

Key Players

Key companies across the global cancer immunotherapy market includes Amgen Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Bristol-Myers Squibb Company (U.S.), Merck & Co., Inc. (U.S.), Seattle Genetics Inc. (U.S.), Celgene Corporation (U.S.), Eli Lilly and Company (U.S.).

Market Taxonomy

By Therapy Type

• Monoclonal Antibodies
• Cancer Vaccines
• Checkpoint Inhibitors
• Immunomodulators
• PD-1/PD-L1
• CTLA-4
• Cancer Vaccines
• Others

• Lung Cancer
• Breast Cancer
• Head and Neck Cancer
• Prostate Cancer
• Colorectal Cancer
• Melanoma
• Blood Cancers
• Others

• Hospitals
• Ambulatory Surgical Centers
• Cancer Research Centers
• Clinics

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