Cancer Immunotherapy Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

Cancer Immunotherapy Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

Global Cancer Immunotherapy Market size is expected to surpass around US$ 188.11 Billion by 2030, according to Renub Research. Cancer immunotherapy is a cancer treatment that enhances the immune system's ability to fight cancer. This therapy is preferable to the old technique because it provides long-term cancer protection, has fewer side effects, and treats a broader range of cancer. Cancer immunotherapy is used in cancers such as melanoma, prostate, breast, colorectal, lung, head & neck, etc. Immunotherapy works by directing the immune system towards cancer-specific targets, activating the immune system to mobilize the target, and triggering a response capable of destroying cancer cells.

Cancer Immunotherapy Market is anticipated to grow at a CAGR of 10.02% from 2023 to 2030.

The global landscape of cancer immunotherapy is undergoing a profound shift, propelled by the escalating incidence of cancer and its associated fatalities. In 2020, the International Agency for Research on Cancer noted 19.3 million fresh cancer cases and 10 million cancer-related fatalities worldwide. Projections indicate a 47% surge in global cancer cases from 2020 to 2040, with an estimated 28.4 million cases expected in 2040. Traditional chemotherapy, marred by drawbacks such as organ failure and cancer recurrence, is increasingly yielding ground to adopting pioneering cancer immunotherapy approaches. Technological advancements and the development of novel therapeutic agents are pivotal factors accelerating the growth of the cancer immunotherapy. This innovative approach empowers the immune system to target and eliminate cancer-afflicted cells, offering the dual advantage of minimal side effects and enduring treatment efficacy. Consequently, global demand for cancer immunotherapy is on the ascent.

Cancer immunotherapy is crucial in upholding the immune system's integrity, as it zeroes in on pathogens that could potentially trigger cancer by stimulating antibody production. Although cancer immunotherapy is a relatively recent therapeutic approach, its potential demonstration in recent years has been remarkable. This coupled with the substantial cancer burden and the adverse effects associated with existing treatments, points to a high growth trajectory for the market in the foreseeable future. The introduction of immunotherapy drugs like Keytruda has already exhibited a promising extension in the life expectancy of certain mesothelioma patients in clinical trials, poised to influence the market positively. The escalating effectiveness and precision of these emerging therapies and their reduced side effects compared to traditional chemotherapy are anticipated to be the key drivers of global cancer immunotherapy market expansion in the forecast period. The global cancer immunotherapy market size was valued at US$ 96.40 Billion in 2023.

Monoclonal antibodies versatile immune system modulation properties fuelled their dominance in market share, driven by their growing adoption in cancer immunotherapy

By Products, Global Cancer Immunotherapy Market is segmented into Monoclonal Antibodies, Immunomodulators and Cancer Vaccines. The ascendancy of monoclonal antibodies in market revenue is rooted in their exceptional immune system modulation capabilities, which have found resounding success in cancer immunotherapy. These adaptable antibodies hold a unique power to influence the immune system, either activating or inhibiting specific molecules crucial for immune function. As a result, they have become pivotal players in the field, enjoying increasing adoption rates. Their effectiveness and precision in targeting cancer cells while sparing healthy ones have made them a game-changing force to combat cancer. Monoclonal antibodies continue to steer the course of cancer treatment with their remarkable immune-modulating properties.

Lung cancer is set to dominate the market due to its high global incidence and increased awareness of early therapeutic interventions

By Application, the Global Cancer Immunotherapy Market is divided into Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma Cancer, Prostate Cancer, Head and neck Cancer and Others. With its pervasive global prevalence and the mounting awareness of the critical significance of early therapeutic interventions, lung cancer is positioned to command a prominent market share. The alarming incidence of lung cancer worldwide underscores the urgent need for effective treatments, spurring research and development efforts in this domain. The emphasis on early interventions highlights the importance of timely diagnosis and treatment. It contributes to the significant role lung cancer is expected to play in shaping the market's future, offering hope for improved patient outcomes and a reduction in the burden of this devastating disease.

Hospitals are widely embracing immunotherapy treatments for oncology conditions.

By End User, the Global Cancer Immunotherapy Market is classified into hospitals, Cancer Research Centers and Clinics. The hospital sector has firmly asserted its dominance within the global cancer immunotherapy market. This is attributable to several pivotal factors. Hospitals offer a crucial frontline in delivering these innovative treatments, benefitting from their specialized medical infrastructure and expertise. Moreover, the high incidence of cancer cases has rendered hospitals primary hubs for diagnosis and treatment. Their role is further amplified by the rising recognition of the potential of immunotherapy among healthcare professionals and patients, compelling an increased adoption of these therapies. In essence, hospitals serve as key drivers in shaping the trajectory of the global cancer immunotherapy market.

China is expected to experience significant growth in the upcoming forecast period.

By Region, Global Cancer Immunotherapy Market is split into North America (United States, Canada), Europe (Germany, United Kingdom, France, Italy, Spain, and Switzerland), Asia Pacific (Japan, China, India, Australia, South Korea, and Indonesia), South America (Brazil, Argentina, and Mexico), Middle East & Africa (South Africa, Saudi Arabia and the United Arab Emirates) and Rest of world. China's vast population and high cancer rates offer a lucrative opportunity for cancer immunotherapy. Cancer ranks high among causes of death in China, propelling the rapid growth of its cancer drug market. The industry heavily invests in R&D to develop accessible, highly efficient treatments. Immunotherapy, favoured for its efficacy and specificity, garners substantial investment.

The Chinese government approves various immunotherapeutic approaches for diverse indications. Due to an aging population, robust manufacturing, and government support, China is a prime pharmaceutical investment hub in the Asia Pacific region. Local and international players excel in R&D, with partnerships emerging to develop and commercialize novel drugs. Collaborations also involve harnessing novel technologies for more efficient therapies. Regulatory changes might cause delays, cost accessibility issues, and competition with other treatments, but the NHSA ensures reimbursement and government support for the latest therapies, bolstering access.

Key Player

Prominent global cancer immunotherapy market includes Seattle Genetics Inc., Eli Lilly & Company, Johnson & Johnson, Novartis AG, Pfizer Inc, Bristol-Myers Squibb Company, Bayer AG, AstraZeneca, and Amgen Inc.

Renub Research latest report “Cancer Immunotherapy Market, Global Forecast By Products (Monoclonal Antibodies, Immunomodulators, Cancer Vaccines), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head & Neck Cancer&Others), End Users (Hospital, Cancer Research Center &Clinics), Region (North America (United States, Canada), Europe (Germany, United Kingdom, France, Italy, Spain, and Switzerland), Asia Pacific (Japan, China, India, Australia, South Korea, and Indonesia), South America (Brazil, Argentina, and Mexico), Middle East & Africa (South Africa, Saudi Arabia and United Arab Emirates) and Rest of world), Companies (Seattle Genetics Inc, Eli Lilly & Company, Johnson & Johnson, Novartis AG, Pfizer Inc, Bristol-Myers Squibb Company, Bayer AG, AstraZeneca, and Amgen Inc.)” provides a detailed analysis of Cancer Immunotherapy industry.

Products – Global Cancer Immunotherapy industry have been covered from 3 viewpoints:

1. Monoclonal Antibodies

2. Immunomodulators

3. Cancer Vaccines

Application – Global Cancer Immunotherapy industry have been covered from 7 viewpoints:

1. Lung Cancer

2. Breast Cancer

3. Colorectal Cancer

4. Melanoma Cancer

5. Prostate Cancer

6. Head & Neck Cancer

7. Others

End User – Global Cancer Immunotherapy industry has been covered from 3 viewpoints:

1. Hospital

2. Cancer Research Center

3. Clinics

Country – This report covers the 21 Countries Global Cancer Immunotherapy Market:

1. North America

1.1 United States

1.2 Canada

2. Europe

2.1 Germany

2.2 United Kingdom

2.3 France

2.4 Italy

2.5 Spain

2.6 Switzerland

3. Asia Pacific

3.1 Japan

3.2 China

3.3 India

3.4 Australia

3.5 South Korea

3.6 Indonesia

4. Latin America

4.1 Brazil

4.2 Argentina

4.3 Mexico

5. Middle East & Africa

5.1 Saudi Arabia

5.2 United Arab Emirates

5.3 South Africa

6. Rest of World

Company Insights:

Overview

Recent Development

Financial Insights

Companies Covered:

1. Seattle Genetics Inc

2. Eli Lilly & Company

3. Johnson & Johnson

4. Novartis AG

5. Pfizer Inc

6. Bristol-Myers Squibb Company

7. Bayer AG

8. AstraZeneca

9. Amgen Inc