Press release
Cancer Immunotherapy Market Size 2023 | Growth, Revenue, Industry Analysis and Forecast 2028
Cancer Immunotherapy Market 2023
The global cancer immunotherapy market size reached US$ 106.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 182.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2023-2028.
What is Cancer Immunotherapy?
Cancer Immunotherapy is an approach that utilizes the natural defense mechanisms of the body to combat cancer cells effectively. It comprises various techniques, such as monoclonal antibodies, checkpoint inhibitors, and therapeutic vaccines, to stimulate the response of the immune system against cancer. It aims to bolster the ability of the immune system to recognize and target cancer cells selectively compared to traditional treatments like chemotherapy and radiation therapy. As it is widely utilized to treat breast, bladder, cervical, melanoma, lung, kidney, thyroid, and liver cancers among individuals, the demand for cancer immunotherapy is increasing around the world.
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What are the growth prospects and trends in the cancer immunotherapy industry?
At present, the rising commercialization of novel immunotherapies across the globe represents one of the key factors strengthening the market growth. Apart from this, the increasing adoption of immunotherapy, as it provides targeted treatment and addresses the specific genetic and molecular characteristics of tumors, is bolstering the growth of the market.
Moreover, the rising development of more effective and less invasive treatment options is providing a lucrative growth opportunity to industry players. In line with this, the introduction of new immunotherapeutic agents that provide improved patient outcomes is contributing to the growth of the market.
Besides this, the rising popularity of personalized medicines among individuals is supporting the growth of the market.
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Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Therapy Type:
• Monoclonal Antibodies
• Cancer Vaccines
• Checkpoint Inhibitors
• Immunomodulators
• Others
Breakup by Application:
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Melanoma
• Prostate Cancer
• Head and Neck Cancer
• Others
Breakup by End User:
• Hospitals
• Cancer Research Centers
• Clinics
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Some of the Top Key players in the Cancer Immunotherapy Market
Amgen Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, GSK plc, Johnson & Johnson, Merck KGaA, Novartis AG, Pfizer Inc., Sanofi S.A, Seagen Inc.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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About us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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