Global Cancer Immunotherapy Market to Reach USD 295.61 Billion by 2031 | CAGR of 11.3%
Category : Healthcare | Published Date : Nov 2024 | Type : Press Release
Cancer Immunotherapy Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Cancer Immunotherapy Market size was valued at USD 125.87 billion in 2023 and is projected to grow at a CAGR of 11.3%, reaching USD 295.61 billion by 2031. Cancer immunotherapy utilizes the body's immune system to combat cancer cells, offering a revolutionary approach to treatment with fewer side effects and enhanced efficiency. It includes monoclonal antibodies, immune checkpoint inhibitors, vaccines, and CAR T-cell therapy, addressing various cancer types such as skin, lung, breast, and bladder cancers.
The report comprises the Cancer Immunotherapy Market Share, Size & Industry Analysis, based on Type (Monoclonal Antibodies (MABs), Immune Checkpoint Inhibitors, Vaccines, CAR T-cell Therapy, Others), Application (Skin Cancer, Breast Cancer, Lung Cancer, Bladder Cancer, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Cancer Immunotherapy Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The rising incidence of cancer globally and advancements in immune checkpoint inhibitors are key drivers for market growth, while high costs of therapies remain a significant challenge.
Segmental Analysis :
Based on type, the market is segmented into Monoclonal Antibodies (MABs), Immune Checkpoint Inhibitors, Vaccines, CAR T-cell Therapy, and Others.
- The monoclonal antibodies segment held the largest market share in 2023, driven by their targeted action in combating cancer cells with minimal side effects.
- The immune checkpoint inhibitors segment is anticipated to grow at the fastest CAGR, supported by their effectiveness in treating multiple cancer types, including lung and breast cancers.
Based on application, the market is divided into Skin Cancer, Breast Cancer, Lung Cancer, Bladder Cancer, and Others.
- The skin cancer segment accounted for the largest market share of 38.20% in 2023, driven by the rising adoption of immune checkpoint inhibitors and immunomodulators for treatment.
- The lung cancer segment is projected to register the fastest growth, fueled by advancements in Bispecific T-cell Engager (BiTE) therapy and innovative diagnostics like OncoPrism®-NSCLC.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- North America: Dominated the market in 2023, with the U.S. contributing the highest share due to advanced healthcare infrastructure and FDA-approved therapies.
- Europe: Expected to grow at the fastest CAGR of 11.8% during the forecast period, driven by innovation in cancer vaccines and supportive regulatory frameworks.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 295.61 Billion |
| CAGR (2024-2031) | 11.3%/td> |
| Type | Monoclonal Antibodies (MABs), Immune Checkpoint Inhibitors, Vaccines, CAR T-cell Therapy, Others |
| Application | Skin Cancer, Breast Cancer, Lung Cancer, Bladder Cancer, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Cancer Immunotherapy Industry:
- Bristol-Myers Squibb (United States)
- AstraZeneca (United Kingdom)
- Elicio Therapeutics (United States)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Merck & Co., Inc. (United States)
- Novartis AG (Switzerland)
- Pfizer Inc. (United States)
- Amgen Inc. (United States)
- Eli Lilly and Company (United States)
- Cellectis (France)
Recent Industry Developments :
- June 2024: AstraZeneca’s Imfinzi demonstrated a survival benefit in limited-stage small cell lung cancer during a Phase III trial, reducing the risk of death by 27%.
- May 2024: Pembrolizumab became the first immunotherapy to improve survival rates in kidney cancer patients, approved by the FDA.
- 2021: Boehringer Ingelheim collaborated with Enara Bio to discover novel antigens for cancer immunotherapies targeting lung and gastrointestinal cancers.
