Global Cancer Immunotherapy Market Report and Forecast 2024-2032

Global Cancer Immunotherapy Market Outlook

The global cancer immunotherapy market size attained a value of USD 118.97 billion in 2023. The market is likely to grow at a CAGR of 11.6% during the forecast period of 2024-2032 to attain a value of USD 319.45 billion by 2032.

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Increasing Demand for Monoclonal Antibodies to Catalyse the Growth of the Global Cancer Immunotherapy Industry

Based on therapy type, the monoclonal antibodies segment is expected to hold a significant share in the global cancer immunotherapy industry during the forecast period. This growth can be attributed to the heightened implementation of monoclonal antibodies therapy in cancer treatment globally. Monoclonal antibodies are immune system proteins created in the lab. Antibodies help the immune system to identify disease-causing bacteria and viruses and target them. For example, rituximab binds to a protein called CD20 on B cells, a type of white blood cells, and some types of cancer cells, causing the immune system to attack them. These factors are estimated to drive the market growth in the forecast period.

North America to Possess a Substantial Market Share in the Global Cancer Immunotherapy Industry

North America is predicted to hold a considerable market share in the global cancer immunotherapy industry. This surge can be attributed to the increased adoption of cancer immunotherapy in the region. In addition, the growing prevalence of cancer in the region has enhanced the demand for immunotherapies. According to the statistics given by National Cancer Institute, as of January 2019, there were an estimated 16.9 million cancer survivors reported in the United States. Further, the number of cancer survivors is projected to increase to 22.2 million by 2030. These factors are estimated to drive the market growth in the region.

Cancer Immunotherapy: Market Segmentation

Cancer refers to diseases that can originate in any organ or tissue of the body where abnormal cells grow unnaturally and go beyond their usual boundaries to invade nearby body parts, also known as metastasizing. According to WHO, cancer is the second leading cause of death globally. Among men, lung, prostate, colorectal, stomach, and liver cancer are the most common types of cancer. In contrast, breast, colorectal, lung, cervical and thyroid cancer are the most common cancer types among women. In this regard, immunotherapy is a treatment for cancer that helps and supports a patient's immune system to fight cancer by providing a boost to the immune system's natural defences to locate and attack cancer cells in the body.

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By therapy type, the market is distributed into:

• Monoclonal Antibodies
• Cancer Vaccines
• Immunomodulators
• Immune Check Point Inhibitors
• Others

On the basis of application, the industry can be categorised into:

• Prostate Cancer
• Breast Cancer 
• Skin Cancer 
• Lung Cancer
• Others

Based on end use, the market can be segmented into:

• Hospitals and Clinics
• Cancer Research Centres
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Heightened Prevalence of Cancer to Augment the Growth of the Global Cancer Immunotherapy Industry

According to the WHO statistics, cancer is the second leading cause of death globally, with around 9.6 million casualties reported in 2018. In 2020, the number of cancer cases reported was 19.3 million, and this number is estimated to rise to 30.2 million by 2040. Among these, the most commonly found cancer is breast cancer. In 2020, an estimated 2.3 million women were diagnosed with breast cancer and 685 000 deaths globally. Observing the growing prevalence of cancer worldwide, governments and international organisations are increasingly devising strategies and conceptualising initiatives to raise funds and awareness about cancer and its potential prevention. For instance, the WHO initiative, Global Breast Cancer Initiative (GBCI), aims to reduce the mortality rate by 2.5% every year, which would help to prevent 40% of cancer deaths by 2040. Their main objectives include health promotion for early detection, timely diagnosis, and comprehensive breast cancer management. Such developments are expected to drive market growth in the forecast period.

Key Industry Players in the Global Cancer Immunotherapy Market

The report gives a detailed analysis of the following key players in the global cancer immunotherapy market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Amgen Inc.
• Astellas Pharma Inc.
• AstraZeneca plc
• Bayer AG
• Bristol-Myers Squibb Company
• F. Hoffmann-La Roche AG 
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report