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Cancer Immunotherapy Market Research Report Information By Type of Therapy (Monoclonal Antibodies, Adoptive Cell Transfer and others), By Application (Lung Cancer, Childhood Cancer and other), By End User (Hospitals, Clinics & others) - Global Forecast till 2032

ID: MRFR/HC/0124-HCR | 85 Pages | Author: Kinjoll Dey| June 2024

Cancer Immunotherapy Market Overview

Cancer Immunotherapy Market Size was valued at USD 140.68 Billion in 2023. The Global Cancer Immunotherapy industry is projected to grow from USD 160.34 Billion in 2024 to USD 466.30 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.27% during the forecast period (2024 - 2032). Cancer immunotherapy is a cancer treatment that increases the patients' immune system to fight cancer. Many health sectors recently accepted this therapy rather than traditional ones due to its long-term cancer protection. This contains fewer side effects and treats a various range of cancer. The process is used in several types of cancer treatments such as breast cancer, melanoma, prostate cancer, lung cancer, etc. the immunotherapy acts by directing the immune system towards the cancer-specific targets and then activates the immune system to mobilize the target and that triggers a response that is capable of destroying the cancer cells.

Covid-19 analysis

COVID 19 has Impacted the healthcare sector positively. In the first half of the spread, the cancer immunotherapy market was reduced due to the continuous COVID 19 patients increases and the lockdown improvement and ban order on travel. The cancer patients rate was getting high, but the whole attention was on the spread of the virus and was trying to fight the novel coronavirus. Due to that, many cancer treatments were postponed impacting the market value. With the betterment of the condition, the treatment procedure for cancer patients resumed again as it is necessary to give proper treatment to cancer patients. Although everything was resumed due to the virus spread, the market experience loss as the unavailability of doctors, social distancing and less activity in medical except for the covid patients was limited. The market has been growing recently and is expected to get to its real growth, and cancer patients get treatment as soon as possible.

Cancer Immunotherapy Market Trends

  • Key Drivers

Each driving factor has impacted Cancer Immunotherapy Market Value. The major growth factors of the market are various, and they help the market gain marketplace during the forecast period. The growing occurrence of cancer due to bad lifestyle and the young generation getting dependent on the internet and sitting idle at home is driving the market's growth. Growing cancer patients in almost all regions are impacting the market growth and forming new ways for the market. Rising research and development by the pharmaceutical and the government regarding cancer treatment are also boosting the market. Continuous technological development in the healthcare sectors for patients' suitability is accelerating the Cancer Immunotherapy Market Outlook. High efficiency in immunotherapy rather than other treatments are also growth factors.

  • Market Challenges

Rising competition in product development is forming challenges for market growth. Lack of skilled professionals to carry out the process and less information and awareness also impact the market and create challenges decreasing market growth. There are several types of cancer, so it becomes complicated to develop a new drug with high quality, which obstructs the market share.

  • Market Opportunities

The rising adaptation of new therapeutics for cancer treatment and increasing implementation in the healthcare sectors are creating new opportunities for the market and market players. The growing focus of the public organizations on researching diseases and forming new development activities towards immunotherapy is forming abundant opportunities for the Cancer Immunotherapy Market.

  • Market Restraints

The main restrain of the market is much cancer shows resistance to chemotherapy and radiation therapy. In addition to this, the high cost of cancer treatment in several health sectors is hindering market growth. Many people are unaware of immunotherapy, and less information regarding cancer immunobiology limits the cancer immunotherapy market.

Cumulative Evaluation Of The Market

The market shows ample factors that will help further grow the cancer immunotherapy market. Covid 19 has positively affected the cancer immune therapy market  Size and impacted the market revenue. The prominent factors present in the markets also impact the market size. Different drivers and opportunities are opening several successful doors for the market. Whereas the restrains and the challenges affect the revenue of the market. With the rising cancer population and the awareness programs, people are getting more diagnosed than before, which improves the market situation. The Cancer Immunotherapy Market Trends are also followed while depicting the worldwide market situation.

Cancer Immunotherapy Market segment Insights

  • Cancer Immunotherapy type Insights

Based on the segment type therapy, the cancer immunotherapy market is classified into Monoclonal Antibodies, Adoptive Cell Transfer and others. Monoclonal antibodies registered high CAGR in 2020 due to the rising usage of monoclonal antibodies for cancer immunotherapy. It is used because they exhibit different properties where the immune system can be modulated and activate the molecules targeted on the immune system.

  • Cancer Immunotherapy application Insights

The application is analyzed by Lung Cancer, Childhood Cancer and others. Among all the segment net, the lung cancer segment dominated the market and held the largest Cancer Immunotherapy Market Share in 2020. It is getting popular day by day due to the high number of lung cancer globally and the continuous surge in the awareness programs regarding the information about the need for early therapies of lung cancer.

  • Cancer Immunotherapy end-user Insights

The Cancer Immunotherapy Market Forecast shows Hospitals and Clinics, and others are the variables by the segment end-user. Hospital is expected to register high market CAGR  and dominate the cancer immunotherapy market in 2020. As the extensive use of cancer immunotherapy increased in the hospital, the segment showed the highest growth rate. Rising preference towards hospitals is expected to propel the growth segment in the forthcoming years. The segment is estimated to register a growth rate of 14.7% in the forecast period.

Regional analysis

The cancer immunotherapy market is studied in North America, Asia Pacific, Europe, Latin America, the middle east and Africa. In 2020, North America accounted for the largest market share due to the rise of healthcare expenditure. The rising focus on maintaining the best healthcare in the sector and the increasing number of cancer patients worldwide is boosting the market in that region. The presence of high-end medical facilities is one of the growth factors in the region. Asia pacific is also showcasing a high growth rate due to the increase in the per capita income, continuous improvement done by governed of the healthcare system and infrastructure and rise in healthcare expenditure are main factors of the market growth in the Asia region. Rising incidence and rising economy in Europe regions will propel the market in the region. All the mentioned regions and other regions present in the market will form new opportunities for market growth. In the coming years, the market will register a high CAGR.

Competitive Intensity Within The Industry 

several prominent players are present in the cancer immunotherapy market. Some new market players are also interested in investing in the future depending on the Cancer Immunotherapy Market Growth. New Market development is based on the strategies carried out by the market players. The details of the competitor are involved in the report. Other details taken into account by the competitors are market condition, production of the market, the dominance of the market in the global place, revenue, finance, investment and others. The key players are estimated to improve the market value in strategically made ways. The competitive landscape between the different market players will positively impact the market. The major key payers that accumulate the market with the growth are

  • Merck & Co., Inc.,

  • Novartis International AG

  • Seattle Genetics

  • Bristol-Myers Squibb

  • F. Hoffmann-La Roche AG

  • GlaxoSmithKline Plc., Amgen Inc.

  • Eli Lilly and Company

  • Celgene Corporation, , Inc.

  • Spectrum Pharmaceuticals, Inc.

Recent development 

  • Bristol Myers Squibb announced that united states regulators approved the first drug in a new class of cancer immunotherapies as an initial treatment for advanced melanoma, the deadliest form of skin cancer.

  • The united food and drug Administration approved realtime from a class known as LAG-3 inhibitors(lymphocyte-activation gene 3) for use with bristol's blockbuster immunotherapy opdivo as an initial treatment for advanced melanoma.

Report Overview

The cancer immunotherapy market suggests several new variations and strategies that would have an accelerating impact on the market. In the report, several primary and secondary research techniques are included to provide a clear view. The report builds strong capabilities in data collection, interpretation and analysis of data. Many quantitative and qualitative information regarding the market is also included in the report to highlight the current scenario of the Cancer Immunotherapy Market Size. The report consists of market segmentation that increases market share, regions where the market players are present, current developments, and processes to take the market to its peak in the global market.

Cancer Immunotherapy Market Segmentation

Cancer Immunotherapy Type Outlook

  •  Monoclonal Antibodies,

  •  Adoptive Cell Transfer

  •  others

Cancer Immunotherapy Application Outlook

  •  Lung Cancer

  •  Childhood Cancer

  •  Other

Cancer Immunotherapy end-user Outlook

  • Hospitals, Clinics

  • Others

Report Attribute/Metric Details
  Market Size   USD 466.30 billion
  CAGR   14.27%
  Base Year   2021
  Forecast Period   2024-2032
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Conjunctivitis Type, Drug Class, End Users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Merck & Co. Inc., Novartis International AG, Seattle Genetics, Bristol-Myers Squibb, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc., Amgen Inc., Eli Lilly and Company, Celgene Corporation Inc., Spectrum Pharmaceuticals Inc.
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers  Increasing prevalence of bacterial conjunctivitis. growing expenditure on health.

Frequently Asked Questions (FAQ) :

cancer immunotherapy market can touch USD 466.30 million by 2032.

ELI Lilly and Company, Novartis International AG, Celgene Corporation, Merck & Co., Inc., Seattle Genetics, Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline Plc., Amgen Inc., Spectrum Pharmaceuticals, Inc., and Bristol-Myers Squibb are prominent players of the global cancer immunotherapy market.

cancer immunotherapy market can expand at 14.27% CAGR from 2024 to 2032

The APAC can generate revenues at a robust rate in the global cancer immunotherapy market due to a large patient pool and huge healthcare expenditure.

cancer immunotherapy market stood at USD 140.68 billion in 2023.

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