Cancer Immunotherapy Market Expected to Surge to $194.64 Billion by 2029, Propelled by Advancements in Treatments and Increasing Prevalence of Cancer
28 Jan, 2025
What Has Been The Development Of the Cancer Immunotherapy Market Historically?
The cancer immunotherapy market has seen significant growth in recent years.
• The market size escalated from $110.91 billion in 2024 to $125.68 billion in 2025, witnessing a CAGR of 13.3%.
This upward trend has been fueled by factors such as the rising prevalence of cancer, increased adoption of immunotherapy over traditional treatment methods, substantial R&D activities for developing targeted therapies, and improved efficacy of new treatment methods.
Is There Promising Growth Forecasted in the Cancer Immunotherapy Market?
The cancer immunotherapy market is anticipated to see remarkable growth in the foreseeable future.
• The market size is projected to expand to $194.64 billion by 2029, with a robust CAGR of 11.6%.
This steady growth stems from increasing approval of novel immunotherapies for cancer treatment, rising demand for personalized medicine, growing incidence of cancer cases, and increased investment in clinical trials.
What Are The Drivers Behind the Growth Of The Cancer Immunotherapy Market?
The surge in cancer incidents worldwide is a significant factor propelling the cancer immunotherapy market. Factors such as tobacco use, alcohol abuse, obesity, sedentary lifestyle, and environmental factors contribute to the surge in cancer cases, escalating the demand for cancer immunotherapies. For instance, the European Union Science Hub reported in October 2023 that new cancer cases had increased by 2.3% in the previous two years, reaching a total of 2.74 million in 2022.
How Is The Cancer Immunotherapy Market Segmented?
The cancer immunotherapy market is segmented –
1) By Product: Monoclonal Antibodies, Checkpoint Inhibitors, Immunomodulators, Vaccines, Cell Therapy
2) By Application: Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Multiple Myeloma
3) By End User: Hospitals, Cancer Research Centers, Clinics
What Trends Are Guiding The Cancer Immunotherapy Market?
Advancements in technology for treating cancer is a pivotal trend in the cancer immunotherapy market. New therapies are emerging that help the immune system identify and treat tumors, such as immuno-oncology, cryoablation, and bone marrow transplant. For instance, in October 2022, AstraZeneca announced the approval of its Capivasertib for breast cancer treatment, which is an immunotherapeutic drug.
What Are The Key Players in The Cancer Immunotherapy Market?
Major players in the industry include:
• Amgen Inc.
• AstraZeneca PLC
• F. Hoffmann-La Roche Ltd
• Bayer AG
• Eli Lilly and Company
Which Region Dominates The Cancer Immunotherapy Market?
North America was the largest region in the cancer immunotherapy market in 2024 and is anticipated to continue its dominance in the forecast period.