Cancer Immunotherapy Market

Global Cancer Immunotherapy Market Research Report: By Technology Type (Monoclonal Antibodies, Cytokines & Immunomodulators, Others), By Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma, Prostate Cancer, Head & Neck Cancer, Others), By End User (Hospitals, Cancer Research Centers, Clinics), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.

Pharma & Healthcare | December 2023 | Report ID: EMR00370 | Pages: 301

The global cancer immunotherapy market was valued at USD 123.45 billion in 2022 and is estimated to reach approximately USD 236.13 billion by 2031, at a CAGR of 9.76% from 2023 to 2031.


Cancer immunotherapy is a cancer treatment, which improves the immune system's ability to fight cancer. This therapy is desirable than the old technique due to it provides long-term cancer protection, has less side effects, and treats a broader range of cancer. Cancer immunotherapy is used in several types of cancers includes melanoma, prostate cancer, breast cancer, colorectal cancer, lung cancer, head & neck cancer, and more. Immunotherapy works by leading the immune system to cancer-specific targets, activating the immune system to mobilize the target, and activating a response capable of destroying cancer cells.




Report Attribute


Estimated Market Value (2022)

123.45 Billion

Projected Market Value (2031)

236.13 Billion

Base Year


Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Technology Type, By Application, By End User& Region

Segments Covered

By Technology Type, By Application, By End User & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.


Global Cancer Immunotherapy Market Drivers:

Rise in occurrence of cancer diseases

Rising occurrence of cancer diseases. In India cancer cases have increased from around 10 lakhs (1 million) in 2012 to 14.6 lakh in 2022. While increasing disease burden is a concern, the economic burden is similarly a concern given that cancer treatment is between the most expensive compared to other diseases. According to the American Cancer Society journal, in the U.S. about 1,958,310 new cancer cases and 609,820 cancer deaths are projected to occur in the year 2023. Furthermore, according to the International Agency for Research on Cancer (IARC) estimates, in the year 2020, there were about 19.29 million cancer cases which is estimated to increase to 24.58 million cases by 2030. This growth in the disease burden on the population is expected to drive the global cancer immunotherapy market.



Growing awareness programs about the need for cancer immunotherapy

The use of immunotherapy in the management of cancer is rising, and a range of new immunotherapeutic is becoming available. It is significant that people involved in the care of cancer understand how cancer immunotherapies differ from conventional chemotherapy and apply this knowledge to their clinical practice. Furthermore, surge in R&D activities for the development of targeted diseases, and growing approval of new immunotherapies for cancer treatment. This is expected to increasing cancer immunotherapy market growth over the forecast period.



Strict regulations related to cancer immunotherapy

Cancer immunotherapies is the essential to develop agents that are constantly effective in a majority of patients and cancer types. Immunotherapies are commonly constrained by immune-related adverse events impermeable propulsion, and an inflammable reaction toward the host's healthy tissues. Furthermore, cancer immunotherapy causes lowered blood counts, which lead to bleeding, anaemia, and other problems. Lungs immune checkpoint inhibitors cause pneumonitis, which is inflammation of the lungs that can cause a cough and trouble breathing. Pneumonitis is uncommon but may be serious. Thus. Increasing strict regulations related to cancer immunotherapy. These all factor affect the hamper the growth of the global cancer immunotherapy market.


Segment Overview

By Technology Type

Based on technology type, the global cancer immunotherapy market is fragmented into monoclonal antibodies, cytokines & immunomodulators, others. The monoclonal antibodies segment dominated the market in 2022 and is expected to dominating during the cancer immunotherapy market in forecast period, due to increase in the use of monoclonal antibodies for cancer immunotherapy and they have diverse features where the immune system controlled and these activate or inhibit the molecules targeted on the immune system. Furthermore, monoclonal antibodies stimulate the anticancer immune response. Thus, fuel demand of this segment in the global market.


By Application

Based on application, the global cancer immunotherapy market is segmented into lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head & neck cancer, others. The lung cancer segment dominated the market in 2022. This is attributed to high prevalence of lung cancer worldwide, as well as an increase in awareness of the need for early lung cancer therapies. Furthermore, increasing product approval and product launches are driving the demand forward. For instance, in November 2023, the US Food and Drug Administration (FDA) granted marketing authorizations to Augtyro (Bristol, Inc.) for the treatment of locally refractory or metastatic Non-Small Cell Lung Cancer (NSCLC) with Repotrectinib. Therefore, growth of this segment in the market is increasing.


By End user

Based on end user, the global cancer immunotherapy market is segmented into hospitals, cancer research centers, clinics. The hospitals segment leading in the cancer immunotherapy market in 2022. This is due to cancer immunotherapy is widely used in hospitals. Additionally, increased preference for hospitals is expected to drive category growth during the projection period. According to the National Cancer Institute article published in April 2023, in the U.S. 25% of patients died in a hospital, with 62% hospitalized at least once in the last month of life for the cancer treatments. This is expected to propel the demand of this segment in the global cancer immunotherapy market.


Global Cancer Immunotherapy Market Overview by Region

North America dominated the cancer immunotherapy market in 2022. This is owing to the sharp growth in healthcare spending, the increased importance on maintaining the best healthcare system, and the increase in cancer incidence. In addition, increasing patient awareness, high disease burden, proactive government measures, technological advancements, and improvements in healthcare infrastructure in the region. According to Elsevier Ltd. article published in April 2023, The US National Cancer Institute has published its anticipated national cancer plan, a roadmap, and call to action on improving all stages of care for those suffering from cancer, including prevention, detection, diagnosis through the course of treatment and recovery. As a result, driving demand of cancer immunotherapy market in this region.



Global Cancer Immunotherapy Market Competitive Landscape

In the global cancer immunotherapy market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global cancer immunotherapy market include Pfizer Inc.; AstraZeneca; Merck & Co. Inc; F. Hoffmann-La Roche Ltd; Bristol-Myers Squibb Company; Novartis AG; Lilly; Johnson & Johnson Services, Inc; Immunocore, Ltd., and others.


Global Cancer Immunotherapy Market Recent Developments

  • In October 2023, Merck's anti-PD-1 therapy KEYTRUDA was approved for the treatment of patients with respectable non-small cell lung cancer (NSCLC) as neoadjuvant treatment and adjuvant treatment following surgery.
  • In October 2023, Pfizer has gained approval from the U.S. Food and Drug Administration (FDA) for the use of MEKTOVI (binimetinib) in combination with BRAFTOVI (encorafenib) to treat metastatic non-small cell lung cancer (NSCLC) in adults who possess a BRAF V600E mutation. Detection of this mutation is confirmed through an FDA-approved test.
  • In December 2023, the xU.S. FDA approved the FRUZAQLA (fruquintinib) for Previously Treated Metastatic Colorectal Cancer by Takeda


Scope of the Global Cancer Immunotherapy Market Report

Cancer Immunotherapy Market Report Segmentation



By Technology Type

  • Monoclonal Antibodies
  • Cytokines & Immunomodulators
  • Others

By Application

  • Lung Cancer
  • Breast Cancer
  • Colorectal Cancer
  • Melanoma
  • Prostate Cancer
  • Head & Neck Cancer
  • Others

By End User 

  • Hospitals
  • Cancer Research Centers
  • Clinics

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request


  • Available upon request


Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Cancer Immunotherapy Market Size and Forecast: To identify and estimate the market size for the global cancer immunotherapy market segmented by technology type, by application, by end user& region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of cancer immunotherapy between 2019 and 2031.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global cancer immunotherapy market
  • Market Influencing Factors: To find out the factors which are affecting the sales of cancer immunotherapy among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global cancer immunotherapy market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • Business Executives
  • Industry Professionals
  • Academic and Research Institutions
  • Startups and Entrepreneurs
  • Governments, Associations, and Industrial Bodies
  • Investors and Trade Experts

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The global cancer immunotherapy market forecast period is 2023 - 2031.
According to cancer immunotherapy market research, the market is expected to grow at a CAGR of 9.76% over the coming years.
Asia-Pacific is expected to register the highest CAGR during 2023 - 2031
North America held the largest share in 2022.
The major players operating in the global cancer immunotherapy market include Pfizer Inc.; AstraZeneca; Merck & Co. Inc; F. Hoffmann-La Roche Ltd; Bristol-Myers Squibb Company; Novartis AG; Lilly; Johnson & Johnson Services, Inc; Immunocore, Ltd., and others.

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