Cancer Immunotherapy Market Forecasts to 2028 – Global Analysis By Application (Blood Cancers, Ovarian Cancer, Pancreatic Cancer, Liver Cancer), End User (Hospitals & Clinics, Ambulatory Surgical Centres) and By Geography

Cancer Immunotherapy Market Forecasts to 2028 – Global Analysis By Application (Blood Cancers, Ovarian Cancer, Pancreatic Cancer, Liver Cancer), End User (Hospitals & Clinics, Ambulatory Surgical Centres) and By Geography

According to Stratistics MRC, the Global Cancer Immunotherapy Market is accounted for $119.39 billion in 2021 and is expected to reach $337.42 billion by 2028 growing at a CAGR of 16.0% during the forecast period. Cancer immunotherapy is a cancer treatment that enhances the immune system's ability to fight cancer. This therapy is preferable than the old technique because it provides long-term cancer protection, has less side effects, and treats a wider range of cancers.

Market Dynamics:

Driver:

Growing adoption of immunotherapy

The treatment options for cancer, such as chemotherapies and radiation therapy, although have more side effects, are more widely used as compared to immunotherapies. While they can effectively kill or remove cancer cells, the use of these treatments is often limited because they tend to destroy healthy cells in large numbers as well. As immunotherapies involve the mechanism of enhancing the body’s own immunity using man-made proteins such as monoclonal antibodies, they are accepted worldwide over other treatment options.

Restraint:

High product developmental cost

The cost of developing new products for cancer immunotherapy is on the higher side. Due to this, there is a negative impact on the growth of the market.

Opportunity:

Technological developments

The developments in technology and surge in healthcare expenditure positively affect the cancer immunotherapy market. Furthermore, increase in clinical trials against several types of cancers in immunotherapy extends profitable opportunities to the market players in the forecast period.

Threat:

Stringent government regulations

The stringent regulations related to cancer immunotherapy are anticipated to be a major threat for the growth of the cancer immunotherapy market. Government have better supervision over the use of immunotherapy and is also taking care of the clinical trials going on user the government norms, which has made it difficult to the companies to enter the industry and is hence expected to hinder the growth of the market.

The hospitals & clinics segment is expected to be the largest during the forecast period

Hospitals and clinics remain the most favoured medical settings, as these institutions are equipped with advanced facilities to allow for effective diagnosis and treatment. High adoption of advanced diagnostics and treatment equipment, as well as therapeutics, supported by public and private funding, further improves the healthcare quality offered by hospitals. Relatively short wait times and ease of getting appointments are projected to widen the patient base opting for clinic-based healthcare. Progressive growth in the demand for quality cancer therapeutics in clinics is influencing clinicians to focus on offering cancer immunotherapy to patients, which is driving the exponential adoption of cancer therapeutics in clinics.

The monoclonal antibodies segment is expected to have the highest CAGR during the forecast period

Monoclonal antibody based drugs assist in flagging cancer cells, trigger cell-membrane destruction, inhibiting malignant cell proliferation, preventing blood vessel growth, easy chemotherapy delivery and binding cancer and immune cells among other benefits. Their ability to trigger an antitumor immune response makes them highly sought after.

Region with largest share:

North America is projected to hold the largest market share owing to the favourable dynamics, such as progressive improvements in healthcare infrastructure and government initiatives underpinning the R&D activities of players. The rising number of patients suffering from cancer, increasing adoption rate of immunotherapy, and development of bioinformatics tools are enhancing the drug development process also contribute towards the market growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR due to the increasing ageing population, altering lifestyles and socio-economic changes. Consequently, healthcare spending to develop advanced research & development facilities for designing high-grade oncology diagnostics are taking place, a factor which is expected to fuel cancer immunotherapy market growth.

Key players in the market

Some of the key players profiled in the Cancer Immunotherapy Market include Merck & Co., Inc., Bayer AG, F. Hoffmann-La Roche Ltd, GlaxoSmithKline Plc, Bristol-Myers Squibb, ELI Lilly and Company, Dr. Reddy's Laboratories Ltd, Astrazeneca, Amgen Inc., Lupin Limited, Bausch Health Companies Inc., Celgene Corporation, Apotex Inc, Immunomedics Inc, and Hikma Pharmaceutical PLC.

Key developments:

In September 2021: Amgen Plc. announced its first combination study results from its Phase 1b/2 CodeBreaK 101 study, a comprehensive global clinical development program in patients with KRAS G12C-mutated advanced colorectal cancer. It shows that combining LUMAKRASTM (sotorasib) with Vectibix® (panitumumab) demonstrate efficacy and safety.

In September 2021: Bristol-Myers Squibb Company conducted a survey that included 250 oncologists, surgeons and specialists from countries like U.S., Germany and Japan. The survey revealed the potential immunotherapy carries for cancers that are detected at an early stage.

Products Covered:
Cytokines & Immunomodulators
Adoptive Cell Transfer
Vaccines
Monoclonal Antibodies
Cell Therapies
Checkpoint Inhibitors

Applications Covered:
Blood Cancers
Ovarian Cancer
Pancreatic Cancer
Liver Cancer
Breast Cancer
Melanoma
Lung Cancer
Gastric Cancer (Stomach Cancer)
Cervical Cancer
Prostate Cancer
Multiple Myeloma
Head & Neck Cancer
Colorectal Cancer
Other Applications

End Users Covered:
Hospitals & Clinics
Ambulatory Surgical Centres
Cancer Research Centers

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances