Cancer Immunotherapy Market Growth Accelerates: Strategic Forecast Predicts $194.64 Billion by 2029

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What Will the Cancer Immunotherapy Industry Market Size Be by 2025?
The size of the cancer immunotherapy market has seen a swift expansion in the recent past. Predictions indicate that its growth will escalate from $110.91 billion in 2024 to a substantial $125.68 billion by the year 2025, with a Compound Annual Growth Rate (CAGR) of 13.3%. Factors contributing to the progress in the historic period include an increase in cancer incidence rates, a shift from traditional therapy to immunotherapy, amplified research and development activities for specific disease-targeting treatments, improved efficacy and precision of the latest therapies, and heightened awareness of the shortcomings of conventional cancer treatments.

What's the Long-Term Growth Forecast for the Cancer Immunotherapy Market Size Through 2029?
An impressive surge in growth is anticipated for the cancer immunotherapy market in the forthcoming years. The market is predicted to escalate to $194.64 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 11.6%. This expansion during the projection period is ascribed to several factors such as the increasing approval rates of new immunotherapies for treating cancer, the escalating demand for individualized medicine, the rise in instances of cancer detection, increased financial backing for clinical testing to launch state-of-the-art treatments, and heightened awareness concerning cancer immunotherapy. The upcoming trend within this forecast period includes the emergence of adoptive cell methods like car-t cells, exploration of oncolytic viruses in immunotherapy for cancer, the evolution of personalized cancer vaccines, the incorporation of artificial intelligence in immunotherapy investigations, as well as greater emphasis on real-world evidence and patient outcomes in making treatment decisions.

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What Are the Key Growth Drivers Fueling the Cancer Immunotherapy Market Expansion?
The escalation in occurrences of cancer globally is believed to fuel the cancer immunotherapy market. An increase in cancer instances worldwide can be attributed to factors such as smoking, alcohol, obesity, inactive habits, and environmental influences. As a result of this surge in cancer occurrences, there is predicted to be more demand for cancer immunotherapies. With patients more willingly spending on medical treatments that promise better healing and minimal discomfort, the demand for these therapies increases. As reported by the Belgium-based European Commission's Joint Research Centre, the European Union Science Hub, in October 2023, there was a 2.3% increase in new cases of cancer over the previous two years, reaching a total of 2.74 million in 2022. During the same two-year period, there was also a 2.4% growth in cancer-related deaths. This surge in cancer incidence is thus expected to significantly drive the need for cancer immunotherapy in the years to come.

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What Are the Key Trends Driving Cancer Immunotherapy Market Growth?
The rise of advancing technologies in cancer immunotherapy is an emerging trend observed in the cancer immunotherapy market. An increase in innovative technologies and diverse therapies aimed at enabling the immune system to spot and obliterate tumors is significant. These utilize a variety of treatments and technologies, such as immuno-oncology, cryoablation, bone marrow transplantation, and radiation therapy. These advancements are revolutionizing cancer treatments and increasing the chances of cure. For example, AstraZeneca plc, a pharmaceutical and biotechnology entity based in the UK, received approval for its Capivasertib in combination with Faslodex in October 2022. This drug, designed as a cancer immunotherapeutic, is primarily used to treat breast cancer and shows efficacy post-framework progression or recurrence following endocrine therapy for locally advanced or metastatic breast cancer with low or negative human epidermal growth factor receptor 2 (HER2).

How Is the Cancer Immunotherapy Market Segmented?
The cancer immunotherapy market covered in this report 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

Subsegments:
1) By Monoclonal Antibodies: Chimeric Monoclonal Antibodies, Humanized Monoclonal Antibodies, Fully Human Monoclonal Antibodies
2) By Checkpoint Inhibitors: PD-1 Inhibitors, PD-L1 Inhibitors, CTLA-4 Inhibitors
3) By Immunomodulators: Cytokines, Oncolytic Viruses, Toll-Like Receptor (TLR) Agonists
4) By Vaccines: Preventive Cancer Vaccines, Therapeutic Cancer Vaccines
5) By Cell Therapy: CAR T-Cell Therapy, TCR Therapy, Natural Killer (NK) Cell Therapy

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Which Companies Are Leading the Charge in Cancer Immunotherapy Market Innovation?
Major companies operating in the cancer immunotherapy market include Amgen Inc., AstraZeneca PLC, F. Hoffmann-La Roche Ltd, Bayer AG, Eli Lilly and Company, 3D Signatures Inc., Adaptive Biotechnologies Corp., Argos Therapeutics Inc., Bristol-Myers Squibb Company, Cell Medica Limited, Cellular Biomedicine Group Inc., Gilead Sciences Inc., Gradalis Inc., Immatics Biotechnologies GmbH, Iovance Biotherapeutics Inc., Juno Therapeutics LLC, Kura Oncology Inc., MacroGenics Inc., Merck & Co. Inc., Neon Therapeutics Inc., Neovii Biotech GmbH, Novartis International AG, Pfizer Inc., Pulse Biosciences Inc., Regeneron Pharmaceuticals Inc., Roche Holding AG, Targovax ASA, Tessa Therapeutics Pte Ltd., TILT Biotherapeutics Ltd., Turnstone Biologics Corp., Xencor Inc.

Which Regions Are Leading the Global Cancer Immunotherapy Market in Revenue?
North America was the largest region in the cancer immunotherapy market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the cancer immunotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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