Cancer Immunotherapy Market to hit US$ 261.74 billion by 2033, North America led 41% of global market share | Key players:- Merck, Bristol-Myers Squibb, AstraZeneca, Roche.

Cancer Immunotherapy Market reached US$ 137.70 billion in 2024 and is expected to reach US$ 261.74 billion by 2033, growing at a CAGR of 7.9% during the forecast period 2025-2033.

The Cancer Immunotherapy Market showed resilience and upward growth in its early stages, moving from US$ 118.63billion in 2022 to US$ 126.93 billion in 2023.

The cancer immunotherapy market is experiencing significant growth due to the rising prevalence of cancer, increasing investments in research and development activities, new immunotherapy drug approvals, and expanding applications of approved immunotherapy drugs to new cancer indications, etc. However, the high cost of immunotherapies, patient adherence, and compliance issues can impact their adoption. The emerging markets provide an opportunity for market expansion in the forecast period.

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Key Industry Development-
✅ December 2025: The U.S. FDA approved the combination of nivolumab (Opdivo) and ipilimumab (Yervoy) for the initial treatment of advanced colorectal cancer patients whose tumors are classified as MSI-H or dMMR. This approval, based on updated clinical trial findings, reflects a growing trend towards combination regimens to improve patient outcomes.

✅ October 2025: The U.S. market saw continued focus on overcoming access barriers for high-cost therapies like CAR-T, with ongoing discussions linking reimbursement to patient outcomes. This highlights the industry's strategic response to financial obstacles that can slow the adoption of innovative treatments.

✅ September 2025: Merck received U.S. FDA approval for a new subcutaneous dosage form of Keytruda, branded as Keytruda Qlex. This injectable version reduces administration time from 30 minutes to just one to two minutes, potentially improving patient adherence and clinic efficiency.

✅ June 2025: Bristol Myers Squibb and BioNTech initiated a global partnership valued up to USD 11.1 billion to co-develop BNT327, a bispecific antibody for multiple solid tumors. This collaboration leverages next-wave bispecifics to target challenging cancers and expand therapeutic options.

✅ May 2025: At the ASCO meeting, trial results for Merck's pembrolizumab (Keytruda) showed the drug doubled the average cancer-free time to five years in head and neck cancer patients when administered before and after surgery. CAR-T cell therapy also showed milestone results in solid tumors, shrinking recurrent glioblastoma tumors in 62% of cases.

Cancer Immunotherapy Market Dynamics: Drivers & Restraints
→ The rising incidence and prevalence of cancer are driving the market growth

Cancer is one of the major global health concerns, with a substantially high number of cases worldwide. The incidence and prevalence of cancer are rising due to various factors, including the aging population, changes in lifestyle, environmental factors, etc.

As per the International Agency for Research on Cancer, globally, nearly 20 million incident cases were reported in 2022. In 2030, nearly 24.10 million cases and in 2040, nearly 29.90 million cases were expected.

This alarming rise in cancer cases is driving demand for immunotherapies, which are increasingly seen as an effective alternative to traditional treatments like chemotherapy. As the burden of cancer grows, the need for innovative therapies accelerates, spurring increased investment in research and the development of new immunotherapy options. Thus, the above factor is expected to continue fueling the expansion of the cancer immunotherapy market.

→ High Cost of Immunotherapies may restrain the market growth

Immunotherapies although a promising treatment option for cancer, their high cost can significantly hinder their adoption, especially in low to middle-income countries and among patients with partial or no insurance coverage. For instance, the most popular cancer immunotherapy drug, pembrolizumab, sold under the brand name Keytruda, is available for $11,795.44 for 3 weeks, and $23,590.88 for 6 weeks for each indicated dose. This high cost not only places a significant burden on patients but also strains healthcare systems and insurance providers.

Some immunotherapy treatment regimens require extended treatment periods or multiple doses over time, further increasing overall costs for patients. The ongoing cost burden can be difficult to manage for both individuals and healthcare providers. As a result, the affordability of these treatments may limit their widespread adoption, slow market penetration, and reduce access for patients who could benefit from these advanced therapies. Thus, the above factors could be limiting the global cancer immunotherapy market's potential growth.

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Cancer Immunotherapy Market Segment Analysis
→ The global cancer immunotherapy market is segmented based on type, indication, and region.

Immune checkpoint inhibitors in the type segment accounted for 37.5% of the market share in 2024 in the global cancer immunotherapy market

Immune checkpoint inhibitors (ICIs) are a class of immunotherapy drugs that function by blocking the checkpoint proteins that play a crucial role in the body's immune responses. These checkpoint proteins, such as PD-1, PD-L1, and CTLA-4, prevent the overactivation of T-cells that are engaged in killing the cancerous cells. Inhibition of these checkpoint proteins is a key mechanism for targeting several cancers. The examples of immune checkpoint inhibitors are nivolumab, pembrolizumab, and cemiplimab, which inhibit PD-1, while atezolizumab, avelumab, and durvalumab are PD-L1 inhibitors. Ipilimumab is a CTLA-4 inhibitor.

Immune checkpoint inhibitors lead the immunotherapy market by activating the body's immune system for long-term cancer control. Keytruda, the top-selling drug, generated US$29.82 billion in 2024 and is approved for 40+ cancers, with strong demand in TNBC, RCC, and NSCLC.

Regional insights:-
• North America holds 41% share, driven by world-leading biopharma R&D, high concentration of immuno-oncology clinical trials, broad payer coverage and rapid uptake of checkpoint inhibitors and CAR-T therapies. The U.S. accounts for the lion's share of the region owing to strong biotech activity, frequent product approvals, and robust oncology services.

• Asia-Pacific accounts for 34% share, supported by rapidly expanding oncology patient volumes, growing local pharma/biotech investment (China, Japan, South Korea), faster regulatory approvals for some novel agents, and rising adoption of combination and targeted immunotherapies - APAC is also the fastest-growing region by CAGR in most forecasts.

• Europe holds 18% share, fuelled by well-established public healthcare systems, strong clinical trial networks (UK, Germany, Switzerland), and policy pushes for precision oncology and reimbursement pathways - growth is steady but focused on cost-effective and guideline-backed use of immunotherapies.

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Cancer Immunotherapy Market Major Players:-
→ The major players in the Cancer immunotherapy market are Merck & Co., Inc., Johnson & Johnson Services, Inc., Bristol-Myers Squibb Company, AstraZeneca, Pfizer Inc., F. Hoffmann-La Roche Ltd, Novartis AG, Kite Pharma, Inc., Dendreon Pharmaceuticals, and Amgen Inc., among others.

Key Development:-
→ In April 2025, Akeso, Inc. announced that the China's National Medical Products Administration (NMPA) has approved the supplemental new drug application for ivonescimab. This immunotherapy drug is a first-in-class PD-1/VEGF bispecific antibody approved for use as a monotherapy for the first-line treatment of PD-L1-positive non-small cell lung cancer (NSCLC), who have negative EGFR and ALK gene mutations.

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