The global cancer immunotherapy market is expected to reach USD 224.30 billion by 2030, registering CAGR of 8.7% during the forecast period, according to a new report by Grand View Research, Inc. The rising adoption of the immunotherapy over other therapy options for cancer owing to its targeted action is anticipated to increase the adoption during the forecast period. Moreover, increasing regulatory approvals from authoritarian establishments for novel immunotherapy used for oncology is also expected to further fuel the market growth. For instance, in October 2021, the U.S. FDA approved Tecentriq (atezolizumab), of Genentech, Inc for the treatment of NSCLC.
Cancer Immunotherapy Market Report Highlights
- Monoclonal antibodies segment held the largest market share in 2022 owing to rising investments in the R&D of monoclonal antibodies
- By product, the oncolytic viral therapies & cancer vaccines sub-segment is anticipated to grow at the fastest rate owing to their greater clinical benefit to patients with advanced-stage malignancies
- Based on application, lung cancer dominated the market owing to the rise in prevalence of the disease and increasing adoption of immunotherapy for the treatment
- The prostate cancer sub-segment is likely to register the fastest CAGR due to the increasing awareness about prostate cancer and rising product launch
- The hospitals & clinics segment led the market in 2022 owing to the increasing demand for immunotherapeutic medicines in hospitals and increasing hospitalization of cancer patients
- Asia Pacific is expected to exhibit the fastest growth during the forecast period due to the growing establishment of healthcare, and high unmet medical needs
- Key market players are continuously involved in the development of novel treatments and geographical expansion, in order to expand their footprint in the global market
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Cancer immunotherapy is an innovative approach to treating cancer that harnesses the power of the immune system to recognize and attack cancer cells. It involves using various strategies to stimulate the immune system’s response against tumors, enhancing its ability to identify and eliminate cancerous cells. Unlike traditional treatments such as surgery, chemotherapy, or radiation therapy, which directly target cancer cells, immunotherapy focuses on empowering the immune system to mount a precise and targeted attack against cancer. The usage of cancer immunotherapy has revolutionized cancer treatment in recent years. It has shown remarkable effectiveness in a range of cancer types and has become a valuable addition to the existing treatment options. One of the key applications of immunotherapy is in the treatment of advanced or metastatic cancers, where it has demonstrated the ability to induce long-lasting remissions and even complete eradication of tumors in some patients. Additionally, immunotherapy is increasingly being used as a first-line treatment for certain cancers, either as a standalone therapy or in combination with other treatments, to improve outcomes and increase survival rates.
Another important application of cancer immunotherapy is in the prevention of cancer recurrence. By stimulating the immune system to recognize and eliminate any residual cancer cells after initial treatment, immunotherapy helps to reduce the risk of cancer returning and improves long-term survival prospects for patients. Moreover, immunotherapy holds promise as a viable option for patients who have limited treatment options or who do not respond well to other therapies. It has demonstrated effectiveness in cancers that were previously considered difficult to treat, such as melanoma, lung cancer, and certain types of blood cancers. In summary, cancer immunotherapy represents a groundbreaking approach to cancer treatment that exploits the body’s own immune system to combat cancer. Its usage has transformed the field of oncology, offering new hope and improved outcomes for patients with various types of cancer, including advanced and hard-to-treat cases. As research and development in this field continue to progress, it is anticipated that immunotherapy will play an increasingly significant role in the fight against cancer, potentially leading to more personalized and effective treatments in the future.
Chimeric Antigen Receptor T-cell (CAR-T) therapy has shown remarkable success in treating certain types of blood cancers, such as leukemia and lymphoma. CAR-T therapy involves modifying a patient’s own T-cells to express a receptor that recognizes specific proteins on cancer cells, enabling the immune system to target and destroy them. This therapy has received regulatory approval and has demonstrated significant clinical responses in patients who have exhausted other treatment options. Checkpoint inhibitors, such as drugs targeting programmed cell death protein 1 (PD-1) and programmed death-ligand 1 (PD-L1), have been widely used in cancer immunotherapy. These drugs help remove the brakes on the immune system, allowing it to recognize and attack cancer cells more effectively. They have shown success in treating various cancers, including melanoma, lung cancer, bladder cancer, and others. Researchers are exploring the potential of combining different immunotherapies, as well as combining immunotherapy with other treatment modalities such as chemotherapy, radiation therapy, and targeted therapies. These combination approaches aim to enhance the immune response, overcome resistance mechanisms, and improve treatment outcomes.
Personalized cancer vaccines are being developed to stimulate the immune system to target specific tumor antigens. These vaccines are created using a patient’s own tumor cells or genetic material and are designed to elicit an immune response against the unique characteristics of their cancer. Clinical trials are underway to evaluate the efficacy and safety of personalized vaccines in various cancer types. Recent research has focused on the role of the gut microbiome in modulating the response to immunotherapy. Studies suggest that certain gut bacteria can influence the efficacy of cancer immunotherapy by affecting the immune system’s activity and response to treatment. Understanding and manipulating the microbiome may offer new strategies to enhance the effectiveness of immunotherapy.
Moreover, the robust product pipeline of the immunotherapy medicines for oncology is one of the major driving factors for strong growth of the market. For instance, (phase-III), developed by AstraZeneca for the treatment of first-line stage small cell lung malignancy. Immuno-oncology agents have shown promising results with improved survival rates and less toxicity. Such clinical trial results are expected to increase the introduction of novel therapeutic options in the coming years.
Increasing adoption of the combination therapies to treat cancer is further expected to increase demand for the immunotherapy. Combination therapies target multiple pathways within the tumor microenvironment that can potentially increase effectiveness of the immunotherapeutic treatment. Companies are mainly emphasizing development of the targeted treatments as novel regimens for the oncology disorder treatment.
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The introduction of immunotherapy has aided the treatment options for the malignancies of breast, brain, bladder, lymphomas, and others. Although the usage of this therapy is minimal as compared to chemotherapy, radiotherapy, and surgery. Immunotherapy is anticipated to emerge as the leading treatment strategy for the malignancies during the next few years. The alarming rise in oncology incidence rates has provoked global collaboration on oncology drugs and other therapies. For instance, in March 2020, Astellas Pharma and CytomX collaborated to expand pipeline of the next-generation Immuno-oncology treatments. This collaboration has helped companies to strengthen their immune-oncology portfolio.
Furthermore, development and approval of the novel immunotherapy treatments for relapsed and refractory malignancies are accelerating the cancer immunotherapy market expansion. For instance, in February 2022, the Janssen Pharmaceutical Companies of Johnson & Johnson announced the approval of CARVYKTI from the U.S. FDA for treatment of the refractory multiple myeloma after four or more lines of treatment.
Cancer Immunotherapy Market Insights By Region
North America led the overall market in terms of revenue with a share due to the presence of a large number of leading players coupled with various strategic initiatives undertaken by them. Moreover, the increase in disease prevalence and the presence of various government and non-government organizations that promote research activities for cancer immunotherapy, and the increasing approval of novel drugs are fueling the regional market growth. Asia Pacific is projected to witness the fastest growth rate over the forecast period. The increase in the geriatric population, a large patient base of targeted diseases, and improving healthcare infrastructure are some of the primary factors driving the growth. Moreover, the rising regulatory approvals of immune therapies in the region are also contributing to region’s expansion.
Competitive Analysis By Major Players
Market players are adopting strategies such as new product development, merger & acquisition, and partnership to increase their market share. Some prominent players in the global cancer immunotherapy market include:
- Pfizer Inc.
- AstraZeneca
- Merck & Co., Inc
- Hoffmann-La Roche Ltd
- Bristol-Myers Squibb Company
- Novartis AG
Grand View Research has segmented the global cancer immunotherapy market based on the product, application, distribution channel, end-use, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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