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 scenario underscores the significance of developing novel approaches to address the growing burden of cancer globally.
The increasing incidence of cancer serves as a compelling force propelling forward the evolution of the cancer immunotherapy market. This surge in cancer cases not only necessitates the development of cutting-edge treatment solutions but also plays a pivotal role in stimulating innovation and fundamentally reshaping the entire landscape of cancer care.
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Data Bridge Market Research analyzes that the Global Cancer Immunotherapy Market is growing with a CAGR of 14.5% in the forecast period of 2024 to 2031 and is expected to reach USD 231,338.41 million by 2031 from USD 83,575.21 million in 2023.
Key Findings of the Study
Rising Technological Advancements
Continual technological advancements, encompassing gene editing, next-generation sequencing, and bioinformatics, play a central role in propelling the cancer immunotherapy field forward.
Gene editing tools such as CRISPR-Cas9 empower scientists to precisely modify genetic material, creating new possibilities for augmenting the therapeutic capabilities of immunotherapies. Next-generation sequencing enhances our ability to comprehensively analyze the genetic composition of tumors, facilitating the identification of specific genetic alterations that can be targeted by immunotherapeutic approaches. In addition, the utilization of bioinformatics, involving the scrutiny of extensive biological data, aids in discerning patterns and potential therapeutic targets. This, in turn, contributes to the development of tailored and more efficient immunotherapies.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016–2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Product Type (Checkpoint Inhibitors, Monoclonal Antibodies, Vaccines, Cell Therapies, Immunomodulators and Oncolytic Virus), Application (Lung Cancer, Breast Cancer, Melanoma, Multiple Myeloma, Prostate Cancer, Ovarian Cancer, Cervical Cancer, Stomach Cancer, Colorectal Cancer, Head & Neck Cancer, and Others), End User (Hospitals, Oncology Clinics, Homecare, and Others), Form (Intravenous (IV), Intramuscular, and Oral), Distribution Channel (Direct Tenders, Retail Sales, and Pharmacies)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, Italy, Spain, U.K., Switzerland, Netherlands, Russia, Turkey, Poland, Hungary, Lithuania, Austria, Ireland, Norway and Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Indonesia, Philippines, Malaysia, Vietnam and Rest of Asia-Pacific, Brazil, Argentina, Peru and Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Oman, Qatar, Bahrain and Rest of Middle East and Africa
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Market Players Covered
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Merck & Co., Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Bristol-Myers Squibb Company (U.S.), Janssen Global Pharmaceutical (U.S.), AstraZeneca (U.K.), Gilead Sciences, Inc. (U.S.), Lilly. (U.S.), Amgen Inc. (U.S.), Novartis AG (Switzerland), GSK plc. (U.K.), Pfizer Inc. (U.S.), Incyte. (U.S.), Celldex Therapeutics (U.S.), Atara Biotherapeutics, Inc. (U.S.), Cellectis (France), AbbVie Inc. (U.S.), Bayer AG (Germany) and among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis
The global cancer immunotherapy market is segmented into five notable segments based on product type, application, end user, form, and distribution channel.
- On the basis of product type, the market is segmented into checkpoint inhibitors, monoclonal antibodies, Vaccines, Cell Therapies, Immunomodulators, and oncolytic virus
In 2024, the checkpoint inhibitors segment is expected to dominate the global cancer immunotherapy market
In 2024, the checkpoint inhibitors segment is expected to dominate the market with a market share of 65.18% as several checkpoint inhibitors have received regulatory approval for various cancer indications, leading to increased market penetration.
- On the basis of application, the market is segmented into lung cancer, breast cancer, melanoma, Multiple Myeloma, prostate cancer, ovarian cancer, cervical cancer, stomach cancer, colorectal cancer, head & neck cancer, and others
In 2024, the lung cancer segment is expected to dominate the global cancer immunotherapy market
In 2024, the lung cancer segment is expected to dominate the market with a market share of 18.24% due to the rising prevalence of lung cancer worldwide.
- On the basis of end user, the market is segmented into hospitals, oncology clinics, homecare, and others. In 2024, the hospitals segment is expected to dominate the market with a market share of 66.71%
- On the basis of form, the market is segmented into intravenous (IV), intramuscular, and oral. In 2024, the intravenous (IV) segment is expected to dominate the market with a market share of 89.99%
- On the basis of distribution channel, the market is segmented into direct tenders, retail sales, and pharmacies. In 2024, the direct tenders segment is expected to dominate the market with a market share of 64.63%
Major Players
Data Bridge Market Research analyzes Merck & Co., Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Bristol-Myers Squibb Company (U.S.), Janssen Pharmaceutical (U.S.), AstraZeneca (U.K.) as the major players in global cancer immunotherapy market.
Market Developments
- In September 2023, Amgen Inc. launched Amgen Partners of Choice, a global network that collaborates with clinical leaders to advance oncology R&D, aiming to create new treatment options for patients with significant unmet needs
- In July 2023, Celldex Therapeutics announced that the first patient was dosed in a Phase 1 study of CDX-585. CDX-585 combines highly active PD-1 blockade with anti-ILT4 blockade to overcome immunosuppressive signals in T cells. This helped the company strengthen its pipeline portfolio
- In May 2023, according to an article published by Cellectis, cancer immunology research demonstrated preclinical evidence of UCART20x22 product candidate to target a broad spectrum of patients with B-cell malignancies. This helped the company establish its brand image
- In February 2023, AstraZeneca received approval in the European Union (EU) for the tablet formulation of Calquence (acalabrutinib) in the treatment of Chronic Lymphocytic Leukemia (CLL) in adult patients. This helped the company enhance its market presence and contributed to its revenue growth
- In October 2022, AstraZeneca's combination of Imjudo (tremelimumab) and Imfinzi (durvalumab) gained U.S. approval for treating unresectable Hepatocellular Carcinoma (HCC), the most prevalent type of liver cancer in adults. This approval led to increased market share and improved revenue streams and further established AstraZeneca as a key player in the field of cancer therapeutics
Regional Analysis
Geographically, the countries covered in the global cancer immunotherapy market report are U.S., Canada, Mexico, Germany, France, Italy, Spain, U.K., Switzerland, Netherlands, Russia, Turkey, Poland, Hungary, Lithuania, Austria, Ireland, Norway and Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Indonesia, Philippines, Malaysia, Vietnam and Rest of Asia-Pacific, Brazil, Argentina, Peru and Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Oman, Qatar, Bahrain and Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is expected to dominate the global cancer immunotherapy market
North America is expected to dominate the market as it is a major hub for pharmaceutical and biotechnology R&D. Many leading companies and research institutions in the field of cancer immunotherapy are based in North America, leading to the region's dominance in innovation and new treatment development.
Asia-Pacific is estimated to be the fastest-growing region in the global cancer immunotherapy market
Asia-Pacific is estimated to be the fastest-growing region in the market as it has experienced a rising incidence of cancer, partly due to factors such as aging populations, lifestyle changes, and increased exposure to risk factors.
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