What is the global market size of Cancer Immunotherapy Market?

Global Cancer Immunotherapy Market size was valued at USD 125.4 billion in 2022 and is poised to grow from USD 135.93 billion in 2023 to USD 259.16 billion by 2031, growing at a CAGR of 8.4% during the forecast period (2024-2031).

Who are the key vendors in the Cancer Immunotherapy Market?

Global cancer immunotherapy market is highly competitive with the existence of several large pool players operating around the globe. The major players of the global market are focusing on few business developing strategies including high investment in research & development activities, increasing product innovation, strategic partnerships, and collaborations for the expansion of their geographical presence and strengthen their market position among competitors. 'Amgen Inc. (US) ', 'AstraZeneca (UK/Sweden) ', 'Bayer AG (Germany) ', 'Bristol-Myers Squibb (US) ', 'Eli Lilly and Company (US) ', 'Janssen Global Services, LLC (Johnson & Johnson) (US) ', 'Merck & Co., Inc. (US) ', 'Novartis (Switzerland) ', 'Pfizer Inc. (US) ', 'F. Hoffmann-La Roche Ltd (Switzerland) ', 'Gilead Sciences, Inc. (US) ', 'GlaxoSmithKline plc (UK) ', 'AbbVie Inc. (US) ', 'Regeneron Pharmaceuticals, Inc. (US) ', 'Adaptimmune Therapeutics plc (UK) ', 'Incyte Corporation (US) ', 'Bluebird bio, Inc. (US) ', 'BioNTech SE (Germany) ', 'Immunocore Limited (UK) ', 'CureVac N.V. (Germany) ', 'BeiGene, Ltd. (China) ', 'Zymeworks Inc. (Canada)'

What is the key driver of Cancer Immunotherapy Market?

Increase in the adoption of immunotherapy treatment over others like radiation therapy and chemotherapies, having more side-effects is the major factor expected to drive the growth of the global cancer immunotherapy market over the forecast period. The former therapies are completely based on destroying cancer cells by irradiation or surgery, the use of these therapies is often limited because they are estimated to kill several healthy cells ae well. Hence, various end-use industries such as hospitals and surgical centers are moving towards immunotherapy treatment, as it enhances the body’s own immunity with the help of man-made proteins, which is fostering the growth of the global market.Besides, there are several cases where cancer patients are beyond the conventional diagnosis and herein patients avail immunotherapy to counter the spread of cancer. In addition, there are solid examples of positive clinical trial results for advanced or metastatic cancer patients.

What is the key market trend for Cancer Immunotherapy Market?

Approval of New Drug Class to Surge Market Growth: Immunotherapies in development are expected to offer more treatment options and better outcomes than existing therapies. Newer drug classes, such as monoclonal antibodies and histone deacetylase (HDAC) inhibitors, designed to target receptors associated with multiple myeloma, are poised to shape the market's future.

Which region accounted for the largest share in Cancer Immunotherapy Market?

Globally, North America dominated the cancer immunotherapy market with a healthy market share in 2021 due to the rising incidence of diseases, adoption to high technology devices, and growing geriatric population. Additionally, growing number of biotechnology companies and continuously rising development activities coupled with the high consumer income, are some other factors projected to drive the growth of the market in the region over the coming years.

Cancer Immunotherapy Market Worldwide

Cancer Immunotherapy Market Regional Insights

Why North America is Dominating Cancer Immunotherapy Market?

North America holds the largest share of the global cancer immunotherapy market, accounting for approximately 44.4% in 2023. This dominance is attributed to robust healthcare infrastructure, significant research funding, and favorable regulatory environments.

U.S. Cancer Immunotherapy Market

The U.S. leads the North American market due to advanced R&D, regulatory support, and biotech hubs. Companies like Merck (Keytruda) and Bristol-Myers Squibb (Opdivo) dominate. In 2023, Merck secured FDA approval for Keytruda in early-stage NSCLC, expanding patient access and strengthening market leadership.

Canada Cancer Immunotherapy Market

Canada benefits from strong government healthcare funding and clinical trial networks. Companies such as Pfizer are prominent here. Recently, Pfizer’s cancer vaccine research received CAD 20 million in Canadian government grants in 2024, accelerating immunotherapy development and increasing regional market penetration.

Why Asia Pacific Leading Cancer Immunotherapy Market in 2024?

The Asia-Pacific region is experiencing the most rapid growth in the cancer immunotherapy sector. Countries like China, Japan, and India are at the forefront, driven by increasing cancer incidences and expanding healthcare investments. Government initiatives, such as China's approval of durvalumab (Imfinzi) for biliary tract cancer, exemplify the region's commitment to enhancing cancer treatment options. Additionally, the establishment of manufacturing facilities by global leaders in these countries is contributing to market expansion.

China Cancer Immunotherapy Market

China is #1 because they are in many ways worlds ahead of the pack due to with the massive diversity of a patient population and a government that truly understands the need for biopharma innovation (ie. growing and diversifying their economy at the same time they treat).

Japan Cancer Immunotherapy Market

Japan dominates with advanced healthcare infrastructure and strong government backing for immunotherapy. Takeda's recent collaboration with Japan’s AMED focuses on developing next-gen immune checkpoint inhibitors, leveraging government grants to accelerate clinical trials and regulatory approvals.

South Korea Cancer Immunotherapy Market

South Korea leads in biopharmaceutical manufacturing with strong government R&D funding. Samsung Biologics recently expanded its cell therapy manufacturing facility, bolstered by government support to promote Korea as a global immunotherapy production hub.

How is Europe Sustaining its Steady Growth in Cancer Immunotherapy Industry?

Europe has maintained a great share of the global market in immunotherapies for cancer, led by Germany, France, and the UK, which have been quick to adopt these therapies. Europe benefits from established healthcare systems and large-scale research funding. For instance, the European Commission's approval of pembrolizumab in combination with chemotherapy for advanced endometrial carcinoma demonstrates the region's forward-thinking attitude towards the integration of new treatments.

Germany Cancer Immunotherapy Market

BASF SE is in the lead due to strong research and development capabilities and its competence in the chemical area that supports new drug formulations. The emphasis on funding from the government has recently speeded their immunotherapy projects and advocated for advanced antibody-drug conjugates to use for resistant cancers.

France Cancer Immunotherapy Market

France's dominant Sanofi is a key player in cancer immunotherapy, with government-funded programs that support cancer immunotherapy and ultimately clinical trials. The collaborative work between Sanofi and INSERM researching to make novel monoclonal antibodies is a good.

UK Cancer Immunotherapy Market

GlaxoSmithKline (GSK) is the big player through its broad immuno-oncology pipeline and partnerships, such as the iSCIB1+ melanoma vaccine clinical trial backed by the NHS. The Cancer Vaccine Launch Pad is another UK government-supported operation intended to support rapid clinical uptake.

FAQs

Global Cancer Immunotherapy Market size was valued at USD 136.4 billion in 2023 and is poised to grow from USD 148.68 billion in 2024 to USD 296.25 billion by 2032, growing at a CAGR of 9.0% during the forecast period (2025-2032).

The competitive environment surrounding cancer immunotherapy is rife with partnerships, research and R&D funding, and the government has become an innovation accelerator. The bigger market players (i.e., Merck, Bristol-Myers Squibb, Novartis) are branching out into new discovery pipelines through public-private partnerships. In 2024, the Biomedical Advanced Research and Development Authority (BARDA) provided funding of approximately USD 50 million as part of the advanced immunotherapies initiative. Multiple governments around the world including Japan MINERVA (Japan Agency for Medical Research and Development) are also funding clinical trials with advanced next generation therapies, bispecific antibodies and personalized vaccines. We are also witnessing international regulatory harmonization in the international regulatory harmonization through the International Council for Harmonisation (ICH) leading to enhanced timelines on drug approval processes alongside competitive opportunities in an international environment.'Merck & Co., Inc. (USA)', 'Bristol-Myers Squibb Company (USA)', 'F. Hoffmann-La Roche AG (Switzerland)', 'AstraZeneca plc (UK)', 'Regeneron Pharmaceuticals, Inc. (USA)', 'Gilead Sciences, Inc. (USA)', 'Novartis AG (Switzerland)', 'Pfizer Inc. (USA)', 'Amgen Inc. (USA)', 'Johnson & Johnson (USA)', 'BioNTech SE (Germany)', 'Moderna, Inc. (USA)', 'Exelixis, Inc. (USA)', 'Alnylam Pharmaceuticals, Inc. (USA)', 'Incyte Corporation (USA)', 'Sanofi S.A. (France)', 'BeiGene, Ltd. (China)', 'Zai Lab Limited (China)', 'Fate Therapeutics, Inc. (USA)', 'Kura Oncology, Inc. (USA)'

The expansion of the global cancer immunotherapy market is fueled by the rising worldwide occurrence of diverse cancers. This surge in cancer prevalence is a key factor driving the need for inventive and efficient treatment strategies. With cancer remaining a primary cause of global morbidity and mortality, encompassing various types such as lung, breast, colorectal, melanoma, and hematological malignancies, the demand for innovative solutions is paramount. This situation highlights the significance of developing novel approaches to address the growing burden of cancer globally.

Why North America is Dominating Cancer Immunotherapy Market?

Cancer Immunotherapy Market

Report ID: SQMIG35H2344

Cancer Immunotherapy Market Regional Analysis