Cancer Immunotherapy Market Overview 2030:
The global cancer immunotherapy market size was valued at $85,603.50 million in 2020, and is projected to reach $309,667.65 million by 2030, registering a CAGR of 14.1% from 2021 to 2030. Cancer immunotherapy is a cancer treatment that enhances the immune system's ability to fight cancer. This therapy is preferable than the old technique because it provides long-term cancer protection, has less side effects, and treats a wider range of cancer. Cancer immunotherapy is used in different types of cancers such as melanoma, prostate cancer, breast cancer, colorectal cancer, lung cancer, head & neck cancer, and more. Immunotherapy works by directing the immune system toward cancer-specific targets, activating the immune system to mobilize the target, and triggering a response capable of destroying cancer cells.
There are many factors, such as increase in healthcare expenditure, rise in incidence of cancer, surge in access to medical insurance, and surge in technological advancements in cancer treatment therapies expected to propel the growth of the global cancer immunotherapy market. According to statistics given by national cancer institute in 2020, an estimated 1,806,590 new cases of cancer were diagnosed in the U.S. and 606,520 people passed away due to the disease. This surge in the incidences of cancer propel the growth of the industry in the coming years. Increase in awareness programs regarding the need for cancer immunotherapy is expected to help the market gain traction during the forecast period. However, the factors such as stringent regulations related to cancer immunotherapy are anticipated to hinder the growth of the cancer immunotherapy market. Government have better supervision over the use of immunotherapy and is also taking care of the clinical trials going on user the government norms, which has made it difficult to the companies to enter the industry and is hence expected to hinder the growth of the market. Also, high product developmental cost is anticipated to impede the growth of the cancer immunotherapy market.
Global Cancer Immunotherapy Market Segmentation
The cancer immunotherapy market is categorized into technology type, application, end-user, and region.
By Technology Type
By technology type, the market is divided into monoclonal antibodies, cytokines & immunomodulators, and others. Monoclonal antibodies held the largest share in 2020, owing to surge in usage of monoclonal antibodies for cancer immunotherapy as they exhibit different properties where immune system can be modulated and hence they can activate or inhibit the molecules targeted on immune system. In addition, monoclonal antibodies also induce the antitumor immune response.
By Product
The Monoclonal Antibodies segment is expected to lead the market throughout the forecast period.
By Application
By application, the cancer immunotherapy market is segmented as lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head & neck cancer, and other applications. The lung cancer market held the largest share in 2020 and is expected to lead the market during the analysis period owing to high incidence of lung cancer worldwide and surge in the awareness program regarding the need for early therapeutics of lung cancer.
By Application
The lung cancer segment is expected to lead the market throughout the forecast period.
By End User
On the basis of end user, the market is categorized into hospitals, cancer research centers and clinics. Hospitals held the largest market share of cancer immunotherapy market in 2020, and this segment is projected to show the highest growth rate during the analysis period due to the extensive use of cancer immunotherapy in the hospitals. Furthermore, higher preference toward hospitals is anticipated to boost the growth of the segment during the forecast period. Furthermore, hospitals segment would gain highest CAGR of about 14.7% in the forecast period.
By End User
The Hospitals segment spearheaded the market in 2020 and is expected to maintain the dominance throughout the forecast period.
By Region
Region wise, the cancer immunotherapy market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor in 2020. This is attributed to the steep rise in amount of expenditure in healthcare, increased focus on maintaining best healthcare system, and increased incidence of cancer worldwide. However, Asia-Pacific is projected to grow with the highest CAGR during the analysis period, owing to rise in healthcare expenditure, surge in per capita income, and improvement in healthcare infrastructure. In addition, Europe is expected to gain second largest revenue share during the forecast period, owing to the development in the infrastructure in the region and rising incidences of cancer.
By Region
North America held a highest revenue share in 2020, whereas, Europe will be the second-largest value contributor, and Asia-Pacififc is expected to register the fastest CAGR during the forecast period.
Competition Analysis
The key players operating in the global cancer immunotherapy market include Amgen, Inc., Astrazeneca, PLC, Bayer AG, Bristol-Myers Squibb Company, Eli Lily And Company, F. Hoffmann-La Roche, Ltd. (Genentech, Inc.), Pfizer, Inc., Johnson & Johnson (Janssen Global Services, LLC), Merck KGAA, and Novartis AG.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global cancer immunotherapy market size along with the current trends and future estimations to elucidate the imminent investment pockets
- It offers market analysis from 2021 to 2030, which is expected to enable stakeholders to capitalize on the prevailing opportunities in the cancer immunotherapy market
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global cancer immunotherapy market growth
Key Market Segments
By Technology Type
- Monoclonal Antibodies
- Cytokines & Immunomodulators
- Others
By Application
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Melanoma
- Prostate Cancer
- Head & Neck Cancer
- Others
By End user
- Hospitals
- Cancer Research Centers
- Clinics
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
List of key players profiled in the report
- Amgen, Inc.
- Astrazeneca, PLC
- Bayer AG
- Bristol-Myers Squibb Company
- Eli Lily And Company
- F. Hoffmann-La Roche, Ltd. (Genentech, Inc.)
- Pfizer, Inc.
- Johnson & Johnson (Janssen Global Services, LLC)
- Merck KGAA
- Novartis AG
Cancer Immunotherapy Market Report Highlights
| Aspects | Details |
 By TECHNOLOGY TYPE |
|
 By APPLICATION |
|
 By END USER |
|
 By Region |
|
 Key Market Players | NOVARTIS AG, ASTRAZENECA, PLC., PFIZER INC., MERCK KGAA, ELI LILY AND COMPANY, BAYER AG, AMGEN, INC., BRISTOL-MYERS SQUIBB COMPANY, F. HOFFMANN-LA ROCHE LTD (GENENTECH, INC.), JOHNSON & JOHNSON (Janssen Global Services, LLC) |
Analyst Review
Cancer immunotherapy, is commonly referred to as biologic therapy, helps in boosting the immunity of body to fight against cancer. In this type of therapy, antibodies and live viruses are introduced in the body that delay the growth of the cancer cells.
Surge in incidence of cancer globally, increase in healthcare expenditure, and rise in geriatric population who are susceptible to suffer from cancer are anticipated to propel the growth of the global cancer immunotherapy market. Surge in awareness programs regarding the need for cancer immunotherapy is expected to help the market gain traction during the forecast period. Rise in the incidences of cancer is anticipated to propel the growth of the industry during the forecast period. However, factor such as stringent regulations related to cancer immunotherapy is expected to inhibit the growth of the cancer immunotherapy market.
North America is expected to remain dominant during the forecast period, owing to increase in demand for cancer immunotherapy, rise in incidences of chronic orthopedic conditions, and presence of major key players along with R&D centers. Moreover, Asia-Pacific and LAMEA are expected to offer significant opportunities to key players during the forecast period, owing to increase in number of hospitals equipped with advanced medical facilities along with increase in utilization of cancer immunotherapy.
Cancer immunotherapy is a method of cancer treatment that helps in boosting immune system in fighting cancer.
Cancer immunotherapy is used for the treatment of cancer with the help of various technologies such as monoclonal antibodies and others and hence in destruction of the tumor cells from the body using immune system response.
The total value of cancer immunotherapy market was $85,603.5 million in 2020.
The forecast period in the report is from 2021-2030.
The market value of opthalmic devices market in 2030 was $3,09,667.5 million.
The base year calculated in the report is 2020.
Increased demand for the cancer immunotherapy and rise in incidences of cancer will drive the market over the near future according to the KOLs.
The market has drawn the interest of the healthcare industry, owing to increasing prevalence of cancer diseases, rise in technological advancements in cancer immunotherapy, and growing awareness among consumers regarding cancer immunotherapy
By technology type, themonoclonal antibodies segment holds the maximum market share.
The market in Asia-Pacific is expected to register lucrative CAGR of 11.00% over the forecast period owing to presence of large population base, increase in awareness regarding cancer immunotherapy, and rise in disposable income
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