Global Cancer Immunotherapy Market

Cancer Immunotherapy Market Size, Share, Growth Analysis, By Product Type(Monoclonal Antibodies [Naked Monoclonal Antibodies, Conjugated Monoclonal Antibodies, Bispecific Monoclonal Antibodies], Vaccines [Prophylactic Vaccines), By Cancer Type(Lung Cancer, Breast Cancer, Multiple Myeloma, Colorectal Cancer), By End-User(Hospitals, Clinics & Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35I2296 | Region: Global | Published Date: September, 2024
Pages: 157 | Tables: 120 | Figures: 69

Cancer Immunotherapy Market Regional Insights

Globally, North America dominated the market with a healthy Cancer Immunotherapy 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.

Furthermore, Asia Pacific is witnessing fastest CAGR during the forecast period owing to introduction to new and advanced immunotherapy drugs in countries like India and China with increasing number of clinical trials in the region. Moreover, rising government efforts to improve the healthcare infrastructure and product development especially in emerging economies such as India, China, and Brazil, are also likely to boost the demand for cancer immunotherapy services in the region.

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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).

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)'

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.

Approval of New Drug Class to Surge Cancer Immunotherapy 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.

Globally, North America dominated the market with a healthy Cancer Immunotherapy 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.

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Global Cancer Immunotherapy Market

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