Cancer Immunotherapy Market
The market for cancer immunotherapy was estimated at US$ 93,407.0 million in 2021 and is anticipated to grow at a CAGR of 9.9% from 2022 to 2028 to reach US$ 180,137.7 million. As research and development (R&D) efforts rise globally, the market for cancer immunotherapy is expanding rapidly. In addition, rising cancer prevalence and improved efficacy and precision of newer medicines are anticipated to promote market expansion. However, the market’s expansion is anticipated to be hampered by reasons including the high cost of cancer immunotherapy treatments and their negative effects.
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Market Regional Insights
The cancer immunotherapy market is divided into five regions based on geography: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Due to the rising prevalence of cancer and the rising need for secure and efficient cancer treatment in the area, particularly in the United States, North America is anticipated to obtain the largest market share over the projection period. An immunotherapy, for instance, is a sort of cancer treatment that supports the immune system’s ability to combat cancer. There are several forms of cancer that can benefit from cancer immunotherapy. The American Cancer Society (ACS) predicts that there will be 609,360 cancer deaths and 1.9 million newly diagnosed cases of cancer in the United States in 2022.
Due to the increased prevalence of cancer and rise in demand for cancer treatment in the area, particularly in India, the Asia Pacific is also anticipated to experience considerable development in the worldwide market for cancer immunotherapy. For instance, a recent research by the Indian Council for Medical Research (ICMR) estimates that by 2025, there would be 29.8 million cancer patients in India, up from 26.7 million in 2021. The market for cancer immunotherapy is thus anticipated to rise as a result.
Market Drivers
Over the course of the projection period, an increase in cancer prevalence is anticipated to fuel market expansion for cancer immunotherapy. For instance, cancer immunotherapy is a universal treatment for cancer because it allows the immune system to identify and target cancer cells. Around 18,094,716 million cancer cases are expected to be identified worldwide in 2020, according to the World Cancer Research Fund (wcrf.org). The major public health concern is avoiding cancer, a burden that is increasing in practically every nation. It is anticipated that this would lead to a rise in demand for secure and successful cancer therapies like immunotherapy.
The worldwide market for cancer immunotherapy is anticipated to increase at a faster rate over the projected period due to newer medicines’ increasing efficacy and precision. Compared to present cancer therapies, immunotherapy has the potential to be more individualised, accurate, and successful. Patients with various forms of cancer who normally have a subpar diagnosis benefit from immunotherapy in terms of their prognosis. The U.S. Food and Drug Administration (FDA) authorised the use of two immunotherapy medications to treat metastatic melanoma in April 2022. Opdualag, the name given to the combination of relatlimab and nivolumab (Opdivo), will be launched.
Market Opportunities
The market for cancer immunotherapy is predicted to provide businesses tremendous growth potential due to an increase in research and development (R&D) efforts. For instance, more R&D will likely result in more immune therapy medications being approved as effective treatments, which would fuel market expansion. A medication discovery and development business called Novasenta, founded by UPMC in August 2021, is looking for innovative and potent cancer therapies. In order to create immunotherapies, Novasenta focuses on the tumour microenvironment, or the ecology that surrounds and interacts with the tumour continually inside the body.
For market participants in the global cancer immunotherapy industry, rising global demand for or acceptance of cancer immunotherapy medications is anticipated to present attractive growth prospects. For example, Bristol Myers Squibb reported in May 2022 that the FDA has authorised two Opdivo (nivolumab)-based regimens for use as first-line therapy for adult patients with unresectable advanced/metastatic esophageal squamous cell carcinoma, independent of PD-L1 status. Nivolumab, the active ingredient of Opdivo, is an immunotherapy medication. It serves as a therapy for a variety of cancers.
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Market Trends
The ongoing development of immunotherapy medications to treat cancer has become a current trend in the worldwide market for cancer immunotherapy. Patients with various forms of cancer who normally have a subpar diagnosis benefit from immunotherapy in terms of their prognosis. As a result, industry players are concentrating on creating new medications to fulfil the rising need for secure and efficient cancer treatments. This is thus anticipated to help the market develop.
Preventing cancer is a serious public health concern globally due to the rising burden in practically every nation, and this trend is anticipated to continue during the projected period. Worldwide, demand for safe and efficient cancer therapy is rising quickly along with the frequency of the disease. Current cancer therapies may not be as accurate, individualised, or successful as immunotherapy.
Market Restraints
The global market for cancer immunotherapy is anticipated to have slow growth due to the high cost of cancer immunotherapy treatments. For instance, the price of cancer immunotherapy might exceed $100,000 per patient. Immunotherapy sessions in India cost between INR 150,000 (US$ 2,091) and 455,000 (US$ 6500). However, prices might vary based on a number of elements that are very important in determining immunotherapy prices in India. Each session’s price fluctuates and ranges depending on the clinical circumstances.
The market for cancer immunotherapy is predicted to increase slowly due to side effects of cancer treatment. For instance, clinical immunotherapy for cancer patients has certain difficulties with safety and efficacy despite substantial advances in the field. Some forms of cancer immunotherapy have the potential to result in serious or even deadly allergic and inflammatory responses. These responses, though, are uncommon.
Market Segmentation
The Therapy Type, Application, End-User, and Geography segments are included in the worldwide cancer immunotherapy market study.
The market is divided into Monoclonal Antibodies, Cancer Vaccines, Immunomodulators, Immune Check Point Inhibitors, and Other Therapy Types based on the kind of therapy used. The market for cancer immunotherapy is anticipated to be dominated by the monoclonal antibodies segment throughout the course of the forecast period, which can be ascribed to an increase in research and development efforts. Monoclonal antibodies (mAbs) are being researched for the treatment of many tumour types due to their many advantages.
Due to the rise in cancer incidence globally, the immunomodulators segment is also anticipated to have considerable growth in the near future. Non-specific treatments known as immunomodulators, such as cytokine modulators and growth factors, operate as immune boosting agents to enhance immune responses against tumour cells.
The market is divided into Prostate Cancer, Breast Cancer, Skin Cancer, Lung Cancer, and Other Applications based on application. Due to the rise in prostate cancer incidence, the Prostate Cancer Segment is anticipated to have the largest market share throughout the projection period. Prostate cancer immunotherapy works by assisting the immune system of the patient to combat cancer cells.
Due to the rise in breast cancer incidence, the breast cancer segment is also anticipated to see rapid expansion in the near future. With the aid of immunotherapy, the immune system is better able to recognise cancer cells and target them for assault and eradication. Some forms of breast cancer are treated with immunotherapy.
The market is divided into Hospitals and Clinics, Cancer Research Centers, and Other End Users based on the end user. Out of these, the Hospitals and Clinics Segment is anticipated to dominate the market throughout the course of the forecast period. This development is due to a growth in the number of patients and a rising need for cancer treatments that are both safe and efficient. Immunotherapy is often administered in hospitals or doctor’s offices to manage and track any negative effects.
Due to the increased emphasis on the discovery of innovative immunotherapy medications and therapies to treat various forms of cancer, the Cancer Research Centers Segment is also anticipated to experience considerable expansion in the near future. Over the past two decades, there has been a steady rise in the number of cancer research facilities that also provide cancer treatment.
Key Developments
The Focused Ultrasound Cancer Immunotherapy Center, the first in the world to be specifically dedicated to advancing a focused ultrasound and cancer immunotherapy treatment approach that could revolutionise 21st-century cancer care, was announced to be opening in May 2022 by UVA Health and Charlottesville-based Focused Ultrasound Center.
The United States awarded Amgen Inc. in August 2020. The Food and Drug Administration (FDA) has given Kyprolis (Carfilzomib) permission to be used in two different dose regimens in conjunction with Darzalex and Dexamethasone to treat relapsed multiple myeloma.
The development and marketing of Daiichi Sankyo’s DS-1062, a TROP2 directed DXd antibody drug combination (ADC) that is now in phase 1 clinical research for non-small cell lung cancer (NSCLC) and triple negative breast cancer, will begin in July 2020.
Key Companies Insights
The market for cancer immunotherapy is quite crowded. The market participants are concentrating on introducing unique goods because of the growth in cancer incidence throughout the world.
Bristol-Myers Squibb Company, Novartis AG, OSE Immunotherapeutics SA, Merck & Co. Inc., Amgen Inc., F-Hoffmann La Roche, Astellas Pharma Inc., Eli Lilly and Company, AstraZeneca, and Bayer AG are a few of the major companies in the worldwide market for cancer immunotherapy.
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Table of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Therapy Type
- Market Snapshot, By Application
- Market Snapshot, By End Users
- Market Snapshot, By Geography
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increase in prevalence of cancer around the world
- High cost of cancer immunotherapy treatment
- Rise in research and development (R&D) activities
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Global Cancer Immunotherapy Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global Cancer Immunotherapy Market, By Therapy Type, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Monoclonal Antibodies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Cancer Vaccines
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Immunomodulators
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Immune Check Point Inhibitors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Other Therapy Types
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global Cancer Immunotherapy Market, By Application, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Prostate Cancer
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Breast Cancer
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Skin Cancer
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Lung Cancer
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Other Applications
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global Cancer Immunotherapy Market, By End Users, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Hospitals and Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Cancer Research Centers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Other End Users
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
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