Immunotherapy in Oncology Market Report and Forecast 2024-2032

Immunotherapy in Oncology Market Size

The immunotherapy in oncology market size was valued at USD 119 billion in 2023, driven by personalized medicine and combination therapies, as well as the rising prevalence of cancer across the 8 major markets. The market is anticipated to grow at a CAGR of 11.6% during the forecast period of 2024-2032 to achieve a value of USD 319.5 billion by 2032.

Immunotherapy in Oncology Market Outlook

• Technological advancements, rising incidences of cancer diseases, and rising demand for personalized forms of cancer therapy are expected to boost market growth for immunotherapy in oncology.

• In September 2023, Moderna and Immatics entered a strategic partnership to develop and progress immunotherapies for cancer treatment. Partnerships aimed at advancing various technologies and developing new treatments are some of the major market trends.

• North America is expected to dominate the market owing it the presence of technically advanced infrastructure while the Asia-Pacific market is experiencing growth driven by the rising incidence of cancer and the demand for effective treatment.

Immunotherapy in Oncology Market Overview

Immunotherapy is one of the latest advancements in the cancer treatment process that involves using the body’s immune system to identify and eliminate cancer cells. It is safer and probably more effective than chemotherapy and radiation treatment which are common in managing cancer. It includes monoclonal antibodies, immune checkpoint inhibitors, CAR-T cell therapy and cancer vaccines. The rise in cancer incidence and the adoption of modern technologies are boosting the market demand for immunotherapy in oncology.

Immunotherapy in Oncology Market Growth Drivers

Rising Prevalence of Cancer Significantly Drives the Market Growth

The American Cancer Society revealed that the United States alone recorded around 1.958,310 new cancer cases while 609,820 cancer-related deaths were observed in 2023. The increasing incidence and prevalence of cancer along with the growing number of patients who display failure to multiple therapies fuel the immunotherapy market growth. More cases of cancer are being diagnosed in both geriatric and pediatric patients, bolstering the demand for effective and healthier treatment to enhance the quality of the patient.

Partnerships and Collaborations between Pharmaceuticals and Research Institutes to Meet Rising Immunotherapy in Oncology Market Demand
 
Major players are taking various strategic initiatives to launch new products, creating a positive outlook for the overall market. For instance, in September 2023, Moderna, Inc. and Immatics N.V. partnered in a strategic research and development collaboration to develop cutting-edge cancer treatments for patients with important medical requirements. The collaboration brought Immatics' TCR platform with Moderna's mRNA technology together, which included bispecifics, cell therapy, and cancer vaccines. Preclinical research and a Phase 1 clinical trial are scheduled to assess both safety and efficacy.

Moreover, in August 2023, Shanghai Henlius Biotech, Inc. and FBD Biologics Limited, a subsidiary of HanchorBio, established a strategic partnership to merge their knowledge and technologies in the field of cancer immunotherapy. This joint effort sought to create new cancer immunotherapies, specifically for tumors that do not respond to current treatments. These companies are broadening their geographical presence and accessing new regions through mergers and acquisitions. This is expected to increase revenue in the cancer immunotherapy market during the forecast period.

Immunotherapy in Oncology Market Trends

Increasing Focus on Personalized Medicine

The immunotherapy market is striving towards the use of personalized medicines that are based on the patient’s genetic makeup, their disease, and their behavior. This approach improves the effectiveness of therapy by establishing the type of cancer treatment that will work best for a particular patient based on biomarkers and genomic sequencing.

Expansion of Combination Therapies

Oncology is witnessing the trend of combination therapies where immunotherapy is given alongside other forms of treatment such as chemotherapy, radiation, or targeted therapies. This approach is improving the effectiveness of treatment and countering the actions of tumor resistance mechanisms. The use of immune checkpoint inhibitors in conjunction with targeted therapy already demonstrates effectiveness in specific types of cancer, increasing treatment outcomes and survival rates.

Rising Approval of Novel Immunotherapies

Numerous important companies are heavily focusing on research and development efforts to create and introduce more advanced and efficient immunotherapies. For instance, in July 2023, VANFLYTA® (quizartinib) received approval from the FDA for use in adults with newly diagnosed AML with FLT3-ITD. VANFLYTA was the first FLT3 inhibitor approved for FLT3-ITD positive acute myeloid leukemia (AML) and it became available by prescription in the U. S. after its approval. Such developments are expected to fuel the growth of the cancer immunotherapy market in the forecast period.

Advancements in Immunotherapy Technologies

A growing investment in cancer research and an increasing number of customers opting for immunotherapy are major factors driving market expansion. Modern treatment methods include enhancing initial medical therapies, advances in which are now combining CAR T-cell therapy and immune checkpoint inhibitors to differentiate existing treatments for blood cancers and immune checkpoint inhibitors for different types of cancer.

Immunotherapy in Oncology Market Segmentation

Market Breakup by Type

• Monoclonal Antibodies

• Cytokines and Immunomodulators

• Checkpoint Inhibitors

• Others

Market Breakup by Indication

• Prostate Cancer

• Melanoma

• Head & Neck Cancer

• Breast Cancer

• Colorectal Cancer

• Lung Cancer

• Others

Market Breakup by Route of Administration

• Oral

• Parenteral

Market Breakup by End User

• Hospitals

• Clinics

• Oncology Centers

• Others

Market Breakup by Region

• United States

• EU-4 and the United Kingdom
  • Germany
  • France 
  • Italy 
  • Spain 
  • United Kingdom
• Japan

• India

Immunotherapy in Oncology Market Share

Monoclonal Antibodies to Hold a Substantial Market Share Based on the Type

Based on the type, the market is divided into monoclonal antibodies, checkpoint inhibitors, cytokines and immunomodulators, among others. Among these, monoclonal antibodies are expected to dominate the market as they have higher specificity towards tumor tissues, thus, while destroying malignant cells, they do not affect the systemically healthy cells.

Market Breakup by Indication to Witness Significant Market Growth

Based on indication, the market is segmented into prostate cancer, melanoma, head and neck cancer, breast cancer, colorectal cancer, lung cancer, and others. Among these, lung cancer is expected to lead the market due to the rising prevalence of lung malignancies. Furthermore, rising product approvals and product launches also provide a positive outlook to the market. For instance, in November 2023, the FDA additionally approved repotrectinib (Augtyro, Bristol-Myers Squibb Company) for patients with metastatic or recurrent ROS1-positive non-small cell lung cancer (NSCLC), making it the first FDA approval for patients receiving prior ROS1 TKI treatment. It was supported by the TRIDENT-1 trial comparing the efficacy among 71 patients who were ROS1 TKI-inexperienced and 56 patients with no previous chemotherapy or immunotherapy.

Immunotherapy in Oncology Market Analysis by Region

Based on the region, the market is divided into the United States, EU-4 (Germany, France, Italy, Spain) the United Kingdom, Japan and India. Among these, the United States dominates the market owing to the availability of established healthcare systems, increased adoption of innovative therapies, and favorable regulatory environments that support clinical trials and product launches.

EU-4 also holds a substantial share of the market as it is equipped with a well-developed infrastructure to conduct research and development activities. Cooperation between universities and industries, and reasonable reimbursement policies also aid market enhancements.

Leading Players in the Immunotherapy in Oncology Market

The key features of the market report include patent analysis, clinical trials analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies are:

Amgen Inc.

The company was established in 1980 and is based in California, USA. Amgen is involved in pursuing advanced immunotherapeutic products for different kinds of cancers. The BiTE is type of T-cell engager that the company offers in the market.

AstraZeneca Plc

This UK-based company was established in 1999. The company provides immune checkpoint inhibitors namely Imfinzi (durvalumab) and Calquence (acalabrutinib) mainly used for treating cancers including lung cancer and hematologic cancers.

F. Hoffmann-La Roche Ltd

Founded in 1896 and headquartered in Switzerland, the company includes immune checkpoint inhibitors like Tecentriq (atezolizumab), and cancer vaccines like Cervarix.

Bayer AG

It was founded in 1863 and is headquartered in Germany. Immunotherapy is a major area of focus for the company. It offers targeted therapies like Stivarga (regorafenib) and other innovative therapies like Vitrakvi (larotrectinib) that are used for the treatment of solid tumors with NTRK gene fusions.

Other companies include Bristol-Myers Squibb Company, Eli Lilly and Company, Takeda Pharmaceutical Company Limited., Pfizer Inc., and Novartis AG.

Kindly note that this only represents a partial list of companies and the complete list has been in the report.

Key Highlights of the Report

Key Questions Answered in the Immunotherapy in Oncology Market

• What was the immunotherapy in oncology market value in 2023?
• What is the immunotherapy in oncology market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is the market segmentation based on type?
• What is the market breakup based on indication?
• What is the market breakup based on the route of administration?
• What is the market segmentation based on end user?
• What are the major factors aiding the immunotherapy in oncology market demand? 
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• What are the major immunotherapy in oncology market trends?
• How does the rise in the geriatric population impact the market size?
• Who are the key players involved in the immunotherapy in the oncology market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?
• What are the different types of immunotherapy treatments dominating the market?
• Which cancer indication are most prominent in the immunotherapy market?
• Which region holds the largest market share for immunotherapy treatments?