Immunotherapy in Oncology Market to Grow at a CAGR of 11.6% During 2024-2032, Aided by the Rising Prevalence of Cancer Across the 8 Major Markets

Immunotherapy in Oncology Market Overview

Immunotherapy refers to a type of biological therapy that helps the immune system fight against cancer. Immune checkpoint inhibitors are a common type of immunotherapy that works by blocking immune checkpoints and stimulating immune cells to respond strongly to cancer. The rising prevalence of cancer and heightened awareness of immunotherapy as a treatment option are driving the market demand. Further, the expanding pipeline of novel immunotherapy agents and substantial funding for cancer research are expected to bolster market growth. Moreover, rising healthcare expenditure, a shift towards combination therapies, and favorable regulatory environment are some of the factors impacting the immunotherapy in oncology market dynamics.

Key Findings

• It is estimated that 1 in 5 individuals is likely to develop cancer in their lifetime and around 1 in 12 women and 1 in 9 men are projected to die from the disease. The rising burden of cancer is one of the primary drivers of the market.
• In July 2024, the Parker Institute for Cancer Immunotherapy (PICI) announced an investment of USD 125 million to boost its research efforts and expedite the development of novel cancer immunotherapies. Such strategic investment initiatives are poised to propel the market growth.
• The rising shift towards combination therapies, which involve combining immunotherapy with chemotherapy, radiation, or other targeted therapies, is a significant market trend.

Immunotherapy in Oncology Market Demand Drivers

According to the American Cancer Society, 2,001,140 new cases of cancer and 611,720 cancer deaths are predicted to occur in the United States in 2024. Further, the International Agency for Research on Cancer (IARC) revealed that around 1 in 5 individuals develop cancer in their lifetime. The rising burden of cancer is propelling the demand for effective treatments like immunotherapies. Moreover, the robust regulatory support from health agencies such as the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) is anticipated to expedite the market entry of novel immunotherapies, thereby contributing to the market growth.

Immunotherapy in Oncology Market Segmentation Analysis

The Type Segment is Anticipated to Experience Significant Market Growth

Based on type, the market segmentation includes monoclonal antibodies, cytokines and immunomodulators, checkpoint inhibitors, and others. The monoclonal antibody segment holds a high market value which can be attributed to its proven efficacy and established use in the treatment of various types of cancer. Multiple monoclonal antibodies are approved by the regulatory bodies for diverse indications, which also boosts their market demand. Rituximab (for non-Hodgkin lymphoma) and Trastuzumab (for HER2-positive breast cancer) are some common examples of monoclonal antibodies.

The market report also offers insights based on the indication, route of administration, end user, and region.

Immunotherapy in Oncology Market: Competitive Landscape

• In April 2024, United Kingdom-based Pathios Therapeutics Limited, an early-stage drug discovery company, raised USD 25 million in a Series B financing round, witnessing participation from Bristol Myers Squibb and other investors. The company plans to use the funding to support the development of its new approach to cancer immunotherapy focused on GPR65 inhibition, including the advancement of its leading asset PTT-4256 in human clinical trials.
• In April 2024, ImmunityBio, a developer of immunotherapies for oncology and infectious diseases, announced the FDA approval for its cancer immunotherapy Anktiva (an interleukin-15 superagonist) in combination with Bacillus Calmette-Guérin (BCG) vaccine for the treatment of BCG-unresponsive non-muscle-invasive bladder cancer (NMIBC) with carcinoma in situ (CIS).
• Other players involved in the market include Amgen Inc., AstraZeneca Plc, F. Hoffmann-La Roche Ltd, Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, Takeda Pharmaceutical Company Limited, Pfizer Inc., and Novartis AG.

Immunotherapy in Oncology Market Analysis by Region

North America is Projected to Lead the Market Share

The market segmentation by region includes the United States, EU-4 (Germany, France, Italy, Spain), and the United Kingdom, Japan, and India. The United States represents a significant market share owing to the presence of the major pharmaceutical and biotechnology companies focused on immunotherapy in the region. The high prevalence of cancer and regulatory support from the FDA further aid the market growth. Moreover, the rise in the number of clinical trials in immunotherapy and substantial research and development investments to advance cancer care are poised to fuel the market expansion in the region.

Key Offerings of the Report

• The EMR report gives an overview of the market for immunotherapy for oncology for the time span of (2017-2023) and (2024-2032).
• The report also offers historical (2017-2023) and forecast (2024-2032) market information for the type, indication, route of administration, end user, and region of the market.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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