Precision Immuno-Oncology Market Size, Share, Growth Analysis, By End use(Hospital, Clinics, research institutes and others), By Cancer type(Lung cancer, breast cancer, prostate cancer, melanoma and others), By Treatment type(checkpoint inhibitors, car T cell therapy, cancer vaccines, and others), By Biomarker(PD-L1, BRCA, KRAS, EGFR), By Region - Industry Forecast 2024-2031

Precision Immuno-Oncology Market size was valued at USD 54.74 billion in 2022 and is poised to grow from USD 60.65 billion in 2023 to USD 137.77 billion by 2031, growing at a CAGR of 10.80% in the forecast period (2024-2031).

In the coming years, the competition in the global precision immuno-oncology market is expected to intensify, with the entry of new players and the increasing number of treatments compatible with precision immuno-oncology. Currently, there are only a few major players operating in the global market. However, this is likely to change in the forecast period as more companies aim to offer their precision immuno-oncology services. The growing demand for precision immuno-oncology treatments and the potential benefits it offers for cancer patients are driving the entry of new players into the market. As a result, established companies in the cancer treatment industry and emerging start-ups are investing in research and development of precision immuno-oncology therapies. The intensifying competition in the precision immuno-oncology market is expected to lead to innovation and new product development, which could result in more effective treatments for cancer patients. 'Adaptimmune Therapeutics plc', 'Agenus Inc.', 'Amgen Inc.', 'AstraZeneca plc', 'Bristol Myers Squibb Company', 'Celgene Corporation', 'Eli Lilly and Company', 'F. Hoffmann-La Roche Ltd.', 'Gilead Sciences, Inc.', 'GlaxoSmithKline plc', 'Iovance Biotherapeutics, Inc.', 'Juno Therapeutics, Inc.', 'Kite Pharma, Inc.', 'Merck & Co., Inc.', 'Neon Therapeutics, Inc.', 'Novartis AG', 'Pfizer Inc.', 'Sanofi SA', 'Seattle Genetics, Inc.', 'Takeda Pharmaceutical Company Limited'

Cancer continues to be a major health concern globally, and the incidence of cancer is increasing. This trend is driving demand for more effective cancer treatments. Traditional cancer treatments, such as chemotherapy and radiation therapy, have limitations and can cause side effects that can be debilitating for patients. Precision immuno-oncology offers a promising approach for improving cancer treatment outcomes by leveraging the patient's own immune system to fight cancer. As the demand for more effective cancer treatments grows, precision immuno-oncology has emerged as a key driver of the market. This approach offers the potential for more precise and targeted therapies that can be tailored to the individual patient's genetic makeup, tumor characteristics, and immune system. This personalized approach has the potential to improve treatment outcomes and reduce side effects compared to traditional cancer treatments that are not personalized.

Precision immuno-oncology treatments are often used in combination with other cancer therapies such as chemotherapy and radiation therapy. This combination approach is becoming increasingly common as it has the potential to enhance treatment efficacy and reduce resistance to treatment. For example, the use of immunotherapy in combination with chemotherapy has shown promising results in treating certain types of cancer such as lung cancer and melanoma. By using both therapies together, the chemotherapy can help to shrink the tumor while the immunotherapy can help the patient's immune system to better recognize and attack cancer cells. In addition, combination therapies can also help to overcome resistance to treatment. Cancer cells are known to develop resistance to specific therapies over time, which can limit their effectiveness. By using combination therapies, doctors can attack cancer cells through multiple pathways, making it more difficult for the cancer cells to develop resistance.

Globally, The precision immuno-oncology market is primarily dominated by North America, which can be attributed to factors such as high healthcare expenditure, favorable reimbursement policies, and a large patient population.