Press release
Global Cancer Immunotherapy Market Edition 2025: Industry Size to Reach 271.2 Billion Metric Tons by 2033, CAGR of 8.6%.
The global cancer immunotherapy market size was valued at USD 129.5 Billion in 2024 and is projected to reach USD 271.2 Billion by 2033, growing at a CAGR of 8.6% during 2025-2033. The market growth is driven by rising cancer incidences, innovative therapies, regulatory support, and increasing clinical trials. North America leads with over 45.2% share, supported by robust R&D and government initiatives.
Study Assumption Years
• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Period: 2025-2033
Cancer Immunotherapy Market Key Takeaways
• Market Size: USD 129.5 Billion in 2024
• CAGR: 8.6%
• Forecast Period: 2025-2033
• North America holds the largest share with over 45.2% in 2024, driven by rising cancer cases and government support.
• Monoclonal antibodies dominate therapy types with approximately 71.2% market share.
• Lung cancer leads the application segment owing to its high prevalence and immunotherapy adoption.
• Hospitals are the primary end users, accounting for around 68.2% market share in 2024.
• Increasing approvals and collaborations, such as BioMed X and Ono Pharmaceutical's partnership, fuel market expansion.
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Market Growth Factors
The cancer immunotherapy market is driven significantly by the increasing prevalence of cancer globally. According to the International Agency for Research on Cancer, there were approximately 19.29 million estimated cancer cases in 2020, expected to rise to 24.58 million by 2030. The surge in cancer incidence directly escalates demand for effective therapies such as immunotherapy. For instance, in the United States, GLOBOCAN reported 2,281,658 new cancer cases and 612,390 deaths in 2020. Similarly, lung cancer remains a leading cancer type globally, including in Canada with around 29,800 cases and 21,200 deaths in 2020, underscoring an urgent need for advanced immunotherapy treatments.
Rising regulatory approvals and ongoing development of novel immunotherapies are also key market growth catalysts. Over 1,000 clinical trials targeting immune-based cancer treatments were ongoing globally as of September 2020. The FDA's approval of Quizartinib (Vanflyta) in July 2023 for acute myeloid leukemia exemplifies expedited drug approval processes aiding market momentum. Additionally, strategic collaborations like the September 2023 partnership between Immatics and Moderna, and BioMed X's December 2023 project with Ono Pharmaceutical, highlight significant R&D investment to advance immunotherapy options.
Further fueling growth are collaborations, mergers, and partnerships among pharmaceutical companies and research institutions. Initiatives like the USD 220 million Partnership for Accelerating Cancer Therapies (PACT) aim to enhance immune therapies through biomarker development and widespread clinical trials. Major industry players including Amgen, AstraZeneca, Bayer, and Eli Lilly actively participate in these strategic activities, fostering innovation and market expansion. Governmental support, technological advancements, and increasing patient and physician awareness further underscore the market's promising outlook.
Market Segmentation
Therapy Type:
• Monoclonal Antibodies: Leading segment with ~71.2% market share in 2024, driven by extensive R&D and therapeutic potential against various cancers. The FDA authorized Talvey in August 2023 for refractory multiple myeloma, emphasizing monoclonal antibodies' prominence.
• Cancer Vaccines
• Checkpoint Inhibitors
• Immunomodulators
• Others
Application:
• Lung Cancer: Largest revenue share, supported by high incidence rates and immunotherapy adoption. The FDA approved Augtyro (Repotrectinib) in November 2023 for refractory/metastatic NSCLC.
• Breast Cancer
• Colorectal Cancer
• Melanoma
• Prostate Cancer
• Head and Neck Cancer
• Others
End User:
• Hospitals: Leading segment with around 68.2% share in 2024 due to growing cancer patient admissions and widespread immunotherapy usage in hospital settings. In 2023, 25% of US cancer patients died in hospitals, with 62% hospitalized in their last month.
• Cancer Research Centers
• Clinics
• Others
Regional Insights
North America dominates the cancer immunotherapy market with a market share exceeding 45.2% in 2024. This dominance is driven by a high incidence of cancer, rapid advancements in bioinformatics, and supportive government initiatives. The United States accounts for 92.70% of the North American market, supported by robust healthcare investments, such as USD 7.22 billion allocated to cancer research in 2024. The region leads globally in innovative clinical trials and receives strong backing from government programs like Cancer Moonshot.
Recent Developments & News
In October 2024, the FDA approved Bristol Myers Squibb's Opdivo for perioperative treatment in resectable NSCLC, based on the CheckMate-77T trial showing a 42% reduction in disease recurrence risk. September 2024 saw Amgen present promising Phase 1b data for its DLL3-targeting BiTE molecule IMDELLTRA combined with PD-L1 inhibitors for extensive-stage small cell lung cancer. July 2024 marked AstraZeneca's positive Phase III ADRIATIC trial results for Imfinzi improving overall survival in limited-stage small cell lung cancer. Additionally, in December 2023, Oxford University Hospitals launched a new mRNA vaccine trial for head and neck cancers, while BioMed X initiated a joint project with Ono Pharmaceutical to develop next-generation neutrophil-targeting immunotherapies.
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Key Players
• Amgen Inc
• AstraZeneca plc
• Bayer AG
• Bristol-Myers Squibb Company
• Eli Lilly and Company
• F. Hoffmann-La Roche Ltd
• GSK plc.
• Johnson & Johnson
• Merck & Co., Inc.
• Merck KGaA
• Novartis AG
• Pfizer Inc.
• Sanofi S.A
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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