Cancer Immunotherapy Market

Cancer Immunotherapy Market Outlook (2021-2031)

The global cancer immunotherapy market garnered US$ 119.4 Bn by 2021, according to Fact.MR- a market research and intelligence provider. The market is expected to exceed US$ 310 Bn by registering a staggering CAGR of 10% by the end of the assessment period 2021-2031. Preference towards immunotherapy treatment along with the rising cases of people being detected with cancer is driving the sales of cancer immunotherapy market. In addition, various key companies are focusing on mergers and acquisitions and are leveraging opportunities.

Key Points Covered in Cancer Immunotherapy Industry Analysis

• Market estimates and forecast 2016-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Cancer Immunotherapy Market and How to Navigate
• Recommendation on Key Winning Strategies

Cancer Immunotherapy Revenue Analysis 2016-2020 in Comparison to Future Outlook 2021-2031

As per Fact.MR’s report, between 2016 and 2020, cancer immunotherapy demand expanded at a staggering 14% value CAGR, surpassing US$ 104 Bn by the end of 2020. Companies are focusing on increasing opportunities by investing in research and development.

During the COVID-19 pandemic, prospects for cancer immunotherapy further expanded. The need to prevent further complications amongst cancer patients infected by the novel coronavirus exacerbated the need for advanced critical care. However, a slight blip was also experienced, given the relegation of non-COVID treatments in the first half of 2020.

Prominent regulatory authorities are realizing the importance of disbursing effective therapeutic approaches for cancer. Consequently, governments and healthcare institutions alike are augmenting healthcare spending. Due to the aforementioned factors, the cancer immunotherapy is expected to reach US$ 310 Bn by registering a stupendous CAGR of 10% by the end of the forecast period 2021-2031.

How is the Increasing Cancer Burden Spurring Cancer Immunotherapy Demand?

The International Agency for Research on Cancer projects that an estimated 19.3 million new cancer cases, excluding 18.1 million non-melanoma skin cancer, and almost 10 million deaths- 9.9 million excluding non-melanoma ones- occurred in 2020. Female breast cancer surpassed lung cancer as the most commonly diagnosed, with an estimated 11.7% new cases.

This global burden is anticipated to reach 28.4 million cases in 2040, a 47% rise from 2020. Hence, efforts to build a sustainable infrastructure for disseminating cancer prevention measures and diagnostics has become critical to achieve a worldwide reduction in cancer numbers.

Therefore, prominence of cancer immunotherapy is increasing with each passing day. Unceasing efforts to augment R&D spending by key healthcare stakeholders, in conjunction with governments, have made major strides in developing advanced immunotherapeutic approaches in recent years.

Capital-Intensive Nature of Immunotherapy to Emerge as Key Dilemma for Manufacturers?

Several studies show that, cancer is an extremely complex disease, and there is no single cure that can prove to be effective for all patients. However, players in the cancer immunotherapy market leverage this opportunity to reach the optimum efficacy level of therapeutics to treat cancer with minimal side-effects.

The key requisite to achieve product innovation is high working capital for experimentation and clinical trials, which poses challenges for manufacturers. Besides this, the risk of drug rejection leads to the wastage of resources.

According to the study, only 5% of anticancer drugs gain commercial license, post the success of Phase III trials, which is indicative of the high rejection rate of therapeutics in the cancer immunotherapy industry.

Country-wise Analysis

How are Various R&D Initiatives Driving Growth for North America?

North America leads the global cancer immunotherapy market. This is owing to favourable dynamics, such as progressive improvements in healthcare infrastructure and government initiatives underpinning the R&D activities of players complement the growth of the cancer immunotherapy markets in these regions. For instance, market players are eligible to receive benefits from the U.S. federal government, such as tax exemptions and market exclusivity, under the Orphan Drug Act.

However, there have been gradual improvements in the quality of healthcare services, increase in accessibility of patients to hospitals and clinics, and growing number of awareness campaigns regarding the diagnosis and treatment of cancer in developing regions. Thus, North America is expected to account for nearly 40% of market share for cancer immunotherapy.

How is Increasing Cancer Prevalence Spurring Immunotherapy Demand in Asia?

Asia accounts for half of the global cancer burden, with case incidences projected to rise to nearly 11 million by 2030. A rapidly ageing population, altering lifestyles and socio-economic changes are likely to be responsible for the purported increase. The most common cancer types include those of the lungs, stomach and liver.

Consequently, healthcare spending to develop advanced research & development facilities for designing high-grade oncology diagnostics are taking place, a factor which is expected to fuel cancer immunotherapy growth until 2031. On account of this, the region is likely to witness relatively high growth at an average CAGR of 10% across the 2021-2031 assessment period.

Category-wise Insights

How is Lung Cancer Boosting Demand for Cancer Immunotherapy?

According to the American Cancer Society, around 25% of deaths are due to lung cancer. Apart from prostate cancer in men and breast cancer in women, lung cancer is the most common cancer diagnosed in people. This is due to smoking habits of people around the world. In addition, the chances of lung cancer being detected at an early stage are less.

Thus, the prevalence of lung cancer not getting proper treatment has increased. This has led patients to rely on cancer immunotherapy. Thus, by cancer type, lung cancer is expected to account for more than 50% of market share for cancer immunotherapy.  

Why is there Increased Preference for Monoclonal Antibody Cancer Immunotherapy?

Based on therapy, monoclonal antibody based cancer immunotherapy is likely to be most preferred, surging at a CAGR of 9% from 2021 to 2031, according to Fact.MR. Their ability to trigger an antitumor immune response makes them highly sought after.

Monoclonal antibody based drugs assist in flagging cancer cells, trigger cell-membrane destruction, inhibiting malignant cell proliferation, preventing blood vessel growth, easy chemotherapy delivery and binding cancer and immune cells among other benefits.

How are Hospitals Spurring Demand for Cancer Immunotherapy?

Hospitals remain the most favoured medical settings, as these institutions are equipped with advanced facilities to allow for effective diagnosis and treatment. High adoption of advanced diagnostics and treatment equipment, as well as therapeutics, supported by public and private funding, further improves the healthcare quality offered by hospitals.

These factors are collectively expected to lead to hospitals accounting for around 61% share of the cancer immunotherapy market by 2031. Relatively short wait times and ease of getting appointments are projected to widen the patient base opting for clinic-based healthcare. Progressive growth in the demand for quality cancer therapeutics in clinics is influencing clinicians to focus on offering cancer immunotherapy to patients, which is driving the exponential adoption of cancer therapeutics in clinics.

Competitive Landscape

Prominent market players are capitalizing on conducting extensive clinical trials to verify the efficacy of various immunotherapy approaches, including vaccinations and oral drugs. Additionally, players are funding more research studies to ascertain patterns of cancer prevalence across key geographies.

• In September 2021, Amgen Plc. announced its first combination study results from its Phase 1b/2 CodeBreaK 101 study, a comprehensive global clinical development program in patients with KRAS G12C-mutated advanced colorectal cancer. It shows that combining LUMAKRASTM (sotorasib) with Vectibix® (panitumumab) demonstrate efficacy and safety.
• In September 2021, Bristol-Myers Squibb Company conducted a survey that included 250 oncologists, surgeons and specialists from countries like U.S., Germany and Japan. The survey revealed the potential immunotherapy carries for cancers that are detected at an early stage.

Report Scope

Attributes	Details
Market size value in 2021	US$ 119.4 Bn
Market forecast value in 2031	US$ 310 Bn
Growth Rate	CAGR of 10% from 2021 to 2031
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Key Market Segments Covered	Therapy Cancer Type End User Region
Key Companies Profiled	Amgen Inc. Bristol-Myers Squibb Company AstraZeneca PLC Eli Lilly and Company GlaxoSmithKline Plc. F. Hoffmann-La Roche Ltd. Janssen Biotech, Inc. Novartis AG Merck & Co., Inc.   Pfizer, Inc. Spectrum Pharmaceuticals, Inc. Sanofi Takeda Pharmaceuticals

Key Segments Covered

• By Therapy

  • Monoclonal Antibody 
  • Immune Checkpoint Inhibitors
    • PD-1/PD-L1 
    • CTLA-4 
  • Immune System Modulators
  • Cancer Immunotherapy Vaccines
  • Other

• By Cancer Type

  • Lung
  • Colorectal
  • Breast
  • Prostate
  • Melanoma
  • Blood
  • Other

• By End User

  • Hospitals
  • Ambulatory Surgical Centres
  • Cancer Research Centres
  • Clinics

• By Region

  • North America

  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania 
  • Middle East & Africa