The global cancer immunotherapy market size was valued at $85,603.50 million in 2022 and is expected to grow $309,667.65 million by 2030 at a compound annual growth rate (CAGR) of 9.6% from 2022 to 2030. North America is the largest market for cancer immunotherapy, followed by Europe and the Asia Pacific region.

The global cancer immunotherapy market refers to the pharmaceutical industry that develops and commercializes treatments that use the body's immune system to fight cancer. Immunotherapy treatments for cancer can include immune checkpoint inhibitors, CAR-T cell therapy, cancer vaccines, and other types of immune-based therapies.

The global cancer immunotherapy market is expected to grow significantly in the coming years, driven by factors such as increasing incidence of cancer, growing demand for personalized medicine, and advancements in immunotherapy research and development.

Some of the major players in the global cancer immunotherapy market include Bristol-Myers Squibb, Merck & Co., Inc., F. Hoffmann-La Roche Ltd., Novartis International AG, and AstraZeneca.

Market Dynamics 

Driving Factors

There are several driving factors contributing to the growth of the global cancer immunotherapy market, including:

Advancements in immunotherapy research and development: There have been significant advancements in immunotherapy research and development in recent years, including the development of immune checkpoint inhibitors, CAR-T cell therapy, and other innovative approaches. As these new therapies continue to be developed and refined, they offer new opportunities for treating cancer and improving patient outcomes.

Favorable regulatory environment: Regulatory agencies around the world have shown a willingness to support the development and approval of cancer immunotherapy treatments, which has helped to drive growth in the market. For example, the U.S. Food and Drug Administration (FDA) has granted accelerated approval to several immunotherapy treatments for cancer in recent years, which has helped to speed up the development and approval process for these treatments.

Restraining Factors

There are several restraining factors that could affect the growth of the global cancer immunotherapy market, including:

Competition from other cancer treatments: There are a variety of cancer treatments available on the market, including chemotherapy, radiation therapy, and targeted therapy. These treatments can also be effective in treating cancer, and their availability may limit the potential market for immunotherapy treatments.

Lack of understanding of the immune system: While scientists have made significant progress in understanding the immune system and how it can be harnessed to treat cancer, there is still much that is not understood. This lack of understanding could limit the development of new and effective immunotherapy treatments.

Challenges Factors

There are several challenges facing the global cancer immunotherapy market, including:

Manufacturing challenges: Producing immunotherapy treatments can be challenging, as these treatments often require specialized manufacturing processes and facilities. Ensuring a consistent and reliable supply of these treatments can be a major challenge for manufacturers.

Reimbursement: The high cost of immunotherapy treatments can make it difficult for patients and healthcare systems to afford them. Ensuring adequate reimbursement for these treatments is a major challenge facing the field. More research is needed to demonstrate the cost-effectiveness of immunotherapy treatments and to develop reimbursement policies that support their use.

Opportunity Factors

The global cancer immunotherapy market presents several opportunities for growth and innovation, including:

Personalized medicine: The development of personalized medicine approaches that use genetic and other biomarkers to tailor treatments to individual patients is a major opportunity for the industry. Immunotherapy treatments offer significant potential for personalized medicine, and developing new tools and approaches to support this could offer significant opportunities for growth.

Emerging markets: The cancer immunotherapy market is already well-established in developed markets such as the US and Europe, but there is significant potential for growth in emerging markets such as China and India. Developing strategies to expand into these markets could offer significant opportunities for growth and innovation in the industry.

Segmentation Analysis

Product Outlook

Monoclonal antibodies are the largest product segment in the cancer immunotherapy market. These products work by targeting specific proteins on the surface of cancer cells, activating the immune system to attack and destroy these cells. Key players in this segment include Bristol-Myers Squibb, Merck, and Roche.

Immune checkpoint inhibitors are a type of cancer immunotherapy that work by blocking certain proteins on cancer cells, preventing them from evading the immune system. Key players in this segment include Bristol-Myers Squibb, Merck, and AstraZeneca.

Cancer vaccines are designed to stimulate the immune system to recognize and attack cancer cells. These vaccines can be used to prevent cancer or to treat existing cancer. Key players in this segment include AstraZeneca and GlaxoSmithKline.

Application Outlook

Lung cancer is the largest application segment in the cancer immunotherapy market. This is due to the high incidence of lung cancer globally and the high response rate of immunotherapy treatments in this indication. Key players in this segment include Bristol-Myers Squibb, Merck, and AstraZeneca.

Melanoma is a type of skin cancer that has traditionally been difficult to treat with conventional therapies. However, immunotherapy treatments have shown promising results in this indication, leading to the development of several new products. Key players in this segment include Bristol-Myers Squibb, Merck, and Roche.

Colorectal cancer is the third-largest application segment in the cancer immunotherapy market. Immunotherapy treatments have shown promise in treating certain types of colorectal cancer, particularly those with high levels of microsatellite instability. Key players in this segment include Bristol-Myers Squibb and Merck.

Breast cancer is a common cancer in women, and immunotherapy treatments have shown promise in treating certain types of advanced breast cancer. Key players in this segment include Roche and AstraZeneca. Other applications of cancer immunotherapy include head and neck cancer, bladder cancer, and prostate cancer. These indications represent smaller segments of the market but are expected to grow in the coming years as new products are developed. Key players in these segments include Merck, Bristol-Myers Squibb, and AstraZeneca.

Regional Analysis

North America is the largest market for cancer immunotherapy, driven by factors such as high incidence of cancer, well-established healthcare infrastructure, and a supportive regulatory environment. The United States is the largest market in the region, accounting for the majority of sales. Key players in the region include Bristol-Myers Squibb, Merck, and Roche.

Europe is the second-largest market for cancer immunotherapy, driven by factors such as rising incidence of cancer, growing awareness of immunotherapy treatments, and favorable regulatory policies. The United Kingdom, Germany, and France are the largest markets in the region. Key players in the region include AstraZeneca, Bristol-Myers Squibb, and Merck.

The Global Cancer Immunotherapy Market has been segmented into:

By Product

• Monoclonal Antibodies
• Immunomodulators
• Oncolytic Viral Therapies and Cancer Vaccines

By Application

• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Melanoma
• Prostate Cancer
• Head and Neck Cancer
• Ovarian Cancer
• Pancreatic Cancer
• Others

By Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

By End-use

• Hospitals & Clinics
• Cancer Research Centers
• Others

Market Players 

The global cancer immunotherapy market is highly competitive and fragmented, with numerous players vying for market share. Some of the key companies in the market are:

• Pfizer Inc.
• AstraZeneca
• Merck & Co., Inc
• F. Hoffmann-La Roche Ltd
• Bristol-Myers Squibb Company
• Genentech, Inc (Roche)
• Novartis AG
• Lilly
• Johnson & Johnson Services, Inc
• Immunocore, Ltd

AstraZeneca is a major player in the cancer immunotherapy market, with a portfolio of products including Imfinzi and Tagrisso. The company has a strong presence in Europe and Asia-Pacific.

Novartis is a leading player in the cancer immunotherapy market, with a portfolio of products including Kymriah and Tafinlar. The company has a strong presence in North America and Europe.

Amgen is a major player in the cancer immunotherapy market, with a portfolio of products including Blincyto and Imlygic. The company has a strong presence in North America and Europe. Gilead Sciences is a leading player in the cancer immunotherapy market, with a portfolio of products including Yescarta and Tecartus. The company has a strong presence in North America and Europe. Other notable players in the cancer immunotherapy market include Kite Pharma, Juno Therapeutics, and GlaxoSmithKline.

Strategic Developments

In 2021, AstraZeneca acquired Alexion Pharmaceuticals in a deal worth $39 billion. This acquisition will expand AstraZeneca's presence in the rare disease market and boost its pipeline of immunology drugs.

In 2021, Bristol-Myers Squibb announced plans to acquire biotech company MyoKardia in a deal worth $13.1 billion. MyoKardia is focused on developing drugs for the treatment of cardiovascular diseases.

In 2020, Gilead Sciences acquired Immunomedics for $21 billion. Immunomedics is focused on developing antibody-drug conjugates for the treatment of cancer.

In 2020, Merck & Co. announced plans to acquire biotech company VelosBio for $2.75 billion. VelosBio is developing antibody-drug conjugates for the treatment of cancer.

In 2019, Bristol-Myers Squibb completed its acquisition of Celgene in a deal worth $74 billion. Celgene is a leading player in the cancer immunotherapy market, with a portfolio of products including Revlimid and Pomalyst.

In 2018, Novartis acquired AveXis for $8.7 billion. AveXis is focused on developing gene therapies for the treatment of rare diseases, including certain types of cancer.

In 2017, Gilead Sciences acquired Kite Pharma for $11.9 billion. Kite Pharma is a leader in the development of CAR-T cell therapies for the treatment of cancer.