The global cancer immunotherapy market size was valued at USD 115.01 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.7% from 2023 to 2030. Increasing prevalence of oncology across the globe coupled with a surge in R&D efforts for the development of novel oncology therapeutics are the major driving factors for the market. Moreover, the presence of various organizations that support immunotherapy research is also expected to fuel market growth. For instance, Parker Institute for Cancer Immunotherapy collaborated with researchers and industry leaders to develop breakthrough immune therapies for cancer. According to the Global Cancer Observatory, the U.S. reported around 2,281,658 cancer cases in 2020, and 612,390 cancer related deaths. The most common type of malignancies affecting the U.S. population is breast, prostate, lung, and colorectal. In addition, according to the Cancer Council, Australia reported 150,000 new cancer cases with 50,000 deaths in 2020. Thus, the surge in prevalence of malignant tumor cases is anticipated to accelerate market expansion in the coming years.
The presence of various government and non-government organizations that create awareness and promote research is augmenting market expansion. For instance, Cancer Research Institute funded more than 120 clinical trials and invested around USD 474 million in research. Moreover, the Society for Immunotherapy of Cancer (SITC) is engaged in improving patient outcomes by advancing the science and application of oncology immunotherapy. These organizations are working with scientists and researchers to discover novel treatment regimens of immune therapy.
Furthermore, increasing funding for the development of novel treatments is expected to boost R&D activities to develop cancer immunotherapy. For instance, in June 2022, a group of Stanford scientists received funding of USD 13 million from Cancer Grand Challenges, a funding initiative by Cancer Research UK and the U.S. National Cancer Institute. This funding is awarded for the development of next-generation immunotherapies, the study of extrachromosomal DNA, and the investigation of early-stage malignancies.
Increasing approval of novel immunotherapies is anticipated to propel the market growth over the forecast period. During 2020-2022, the U.S. FDA has approved various anti-PD-1/L1 antibodies such as nivolumab, atezolizumab, avelumab, dostarlimab, and others for the treatment of NSCLC, renal cell carcinoma, melanoma, breast, prostate malignancies, and others. The higher approvals of immunotherapeutic agents have propelled the market growth.
Various Strategic initiatives undertaken by leading players are also expected to facilitate the market demand. For instance, in August 2022, BioNTech SE and Genmab A/S expanded their strategic collaboration for the development and launch of new immune therapies for the treatment of various cancer forms. Moreover, in March 2022, Merck & Co., Inc announced the approval of KEYTRUDA from the U.S. FDA. KEYTRUDA is an anti-PD-1 therapy for the treatment of advanced endometrial carcinoma.
However, side effects associated with immunotherapy are likely to hamper the prescription rate for cancer treatment. The available therapies are associated with several adverse effects, such as pain, insomnia, fatigue, nausea, and gastrointestinal conditions. These adverse effects impact the overall quality of life of patients and the management of these adverse effects incurs extra costs. In addition, prolonged consumption of immunotherapeutic drugs may cause severe damage to the organs and increase the incidence of organ failure cases.
Among products, the monoclonal antibodies segment held the largest market share of 68.7% in 2022 and is anticipated to grow at a steady rate during the projected period. The growth of the monoclonal antibodies segment is attributed to the high prescription rate of monoclonal antibodies, the targeted effect of monoclonal antibodies, relatively fewer side effects, and the strong commercial performance and sales of leading monoclonal antibodies like Keytruda, Yervoy, and Opdivo. For instance, Bristol-Myers Squibb Company reported a 5% increase in Q1 2022 revenues of Opdivo and Yervoy compared to Q1 2021.
The oncolytic viral therapies & cancer vaccines segment is likely to be the most demanding segment during the forecast period. The rising demand for novel treatment regimens, rise in demand for cancer vaccines, and surge in funding from government and non-government sectors to develop novel oncology vaccines are anticipated to spur segment demand in coming years.
The lung cancer segment dominated the market in 2022 with a share of 19.0%. The rising prevalence of lung malignancies, increasing adoption of immunotherapy, increase in awareness programs, and presence of a robust pipeline of investigational candidates are some of the key factors expected to drive the segment's growth. Furthermore, rising product approval and product launch fueling the demand forward. For instance, in October 2021, the U.S. FDA approved Tecentriq (atezolizumab) for the treatment of stage II and stage III NSCLC.
The breast cancer segment held the second largest share owing to the high prevalence of the disease, ongoing research activities, and rising investments by leading players to develop novel therapeutics for breast malignancies are expected to accelerate segment expansion. However, the prostate cancer segment is anticipated to experience the fastest growth rate over the forecast period.
In 2022, the hospital pharmacy segment led the market with a market share of 56.4%. The factors driving the hospital pharmacies’ growth are the rising demand for immunotherapy in hospitals and increasing hospitalization due to the surge in oncology disorders. The complexity of the treatment and patients aged over 65 years increased the hospitalization rate of cancer patients. Hence, the segment share is high.
However, the online pharmacy segment is anticipated to register the fastest growth rate during the coming years. Factors like, the surge in internet penetration, increasing adoption of telemedicine, rising adoption of technology, and convenience & time efficiency are likely to contribute to online pharmacy segment demand. In addition, the presence of prominent e-pharmacy players and the discounts offered by them are also facilitating segment demand in near future.
The hospital & clinics segment is the largest segment in 2022 with a share of 71.8% due to the high prevalence of disease coupled with increasing treatment rates, rising awareness and increased diagnosis of malignancies, and a high number of hospitals that offer immunotherapies treatment. Hospitals are highly adopting immunotherapy treatments to treat oncology conditions. For instance, according to the report published by Elsevier Inc., the number of patients getting treatment in hospitals is increasing for melanoma patients, within 90 days of diagnosis of cancer it raised from 14.5% to 37.7%.
The cancer research centers segment is likely to grow at a rapid pace during the forecast period. The segment growth is accounted for increased oncology research, and ongoing support activities by government and non-government organizations in the form of grants and funding to spur demand forward.
In 2022, North America led the overall market in terms of revenue with a share of 44.23% due to the presence of a large number of leading players coupled with various strategic initiatives undertaken by them. Moreover, the increase in disease prevalence and the presence of various government and non-government organizations that promote research activities for cancer immunotherapy, and the increasing approval of novel drugs are fueling the regional market growth. For instance, in April 2022, the U.S. FDA approved Opdivo (nivolumab) for the treatment of NSCLC in adult patients.
Asia Pacific is projected to witness the fastest growth rate over the forecast period. The increase in the geriatric population, a large patient base of targeted diseases, and improving healthcare infrastructure are some of the primary factors driving the growth. Moreover, the rising regulatory approvals of immune therapies in the region are also contributing to region’s expansion. For instance, during 2020-2022, the National Medical Products Administration of China approved Pembrolizumab and Durvalumab for the treatment of esophageal cancer and SCLC.
Market players are adopting strategies such as new product development, merger & acquisition, and partnership to increase their market share. For instance, In March 2023, the FDA granted accelerated approval to a drug manufactured by Incyte Corporation, Zynyz, for the treatment of recurrent locally advanced or metastatic Merkel cell carcinoma (MCC). MCC is a rare type of skin cancer, and the approval is expected to positively impact the market growth and treatment rate of skin cancer. Some prominent players in the global cancer immunotherapy market include:
Pfizer Inc.
AstraZeneca
Merck & Co., Inc
F. Hoffmann-La Roche Ltd
Bristol-Myers Squibb Company
Novartis AG
Lilly
Johnson & Johnson Services, Inc
Immunocore, Ltd
Report Attribute |
Details |
Market size value in 2023 |
USD 125.7 billion |
Revenue forecast in 2030 |
USD 224.30 billion |
Growth rate |
CAGR of 8.7% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
Report updated |
May 2023 |
Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, application, distribution channel, end use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
U.S.; Canada; UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; India; China; Japan; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; UAE; South Africa; Kuwait |
Key companies profiled |
Pfizer Inc, AstraZeneca, Merck & Co., Inc; F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Novartis AG, Lilly, Johnson & Johnson Services, Inc; Immunocore, Ltd |
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2018 to 2030. For the purpose of this report, Grand View Research has segmented the global cancer immunotherapy market report on the basis of product, application, distribution channel, end use, and region:
Product Outlook (Revenue, USD Million, 2018 - 2030)
Monoclonal Antibodies
Immunomodulators
Oncolytic Viral Therapies & Cancer Vaccines
Application Outlook (Revenue, USD Million, 2018 - 2030)
Lung Cancer
Breast Cancer
Colorectal Cancer
Melanoma
Prostate Cancer
Head & Neck Cancer
Ovarian Cancer
Pancreatic Cancer
Others
Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
End Use Outlook (Revenue, USD Million, 2018 - 2030)
Hospitals & Clinics
Cancer Research Centers
Others
Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Denmark
Sweden
Norway
Asia Pacific
Japan
China
India
South Korea
Australia
Thailand
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
b. Some of the key players in cancer immunotherapy market are Pfizer Inc.; AstraZeneca; Merck & Co., Inc; F. Hoffmann-La Roche Ltd; Bristol-Myers Squibb Company; F. Hoffmann La-Roche Ltd.; Novartis AG; Lilly; Johnson & Johnson Services, Inc; and Immunocore, Ltd, among others.
b. The increasing prevalence of cancer, surge in R&D activities for the development of targeted diseases, and increasing approval of novel immunotherapies for cancer treatment are the major factors driving the cancer immunotherapy market growth over the forecast period.
b. The global cancer immunotherapy market is expected to witness a compound annual growth rate of 8.7% from 2023 to 2030 to reach USD 224.30 billion by 2030.
b. The global cancer immunotherapy market size was valued at USD 115.01 billion in 2022 and is anticipated to reach USD 125.70 billion in 2023.
b. Based on product, the monoclonal antibodies segment accounted for a share of 68.7% in 2022 due to the higher number of approved products and high prescription rate of monoclonal antibodies.
b. North America held the largest share of 38.86% in 2022 and is expected to register a lucrative growth rate over the forecast period. It is attributable to the presence of major market players in the region, increasing introduction of novel immunotherapies, and presence of government and non-government bodies to promote research activities for cancer immunotherapy.
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for COVID-19 as a key market contributor.
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