Cancer Immunotherapy Market Size, Share, Report By 2032

The global cancer immunotherapy market reached USD 100 billion in 2022 and is expected to hit around USD 275.11 billion by 2032, poised to grow at a CAGR of 10.70% from 2023 to 2032.

Key Points:

By products, the monoclonal antibodies segment has held revenue share of over 71.51% in 2022.
By distribution channel, the hospital pharmacy segment has held revenue share of 58.2% in 2022.
By end-use, the hospital segment has held largest revenue share of 67% in 2022.
The North America region has contributed 42% revenue share in 2022
The Asia Pacific market is expected to grow at a fastest CAGR over the forecast period.

The rising prevalence of various cancer such as colorectal cancer, bowel cancer, breast cancer, and lungs cancer among the global population and rising adoption of the immunotherapy to treat cancer is boosting the growth of the global cancer immunotherapy market. The rising awareness regarding the advantages of the cancer immunotherapy over the conventional chemotherapies is further driving the demand for the cancer immunotherapy among the cancer patients. The rising disposable income, availability of advanced healthcare facilities, and rising consumer expenditure on healthcare is positively impacting the growth of the global cancer immunotherapy market. Cancer Immunotherapy has less side effects and have long term treatment affects, which boosts the demand for the cancer immunotherapy across the globe.

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Regional Snapshot

North America dominated the global cancer immunotherapy market in 2020. This is primarily due to the increased prevalence of cancer in the region. According to the American Cancer Society, over 1.8 million new cancer cases and 606,520 deaths were reported in the US in 2020. The lungs cancer, colorectal cancer, breast cancer, and prostate cancer are the top four cancers that prevails in the US. Further, the increased disposable income, increased awareness regarding the benefits of the cancer immunotherapy among the population, and presence of strong and advanced healthcare infrastructure in the region is augmenting the market growth.

Europe is estimated to be the fastest-growing market during the forecast period. The high disposable income, rising healthcare expenditure, and rising awareness regarding the cancer immunotherapy is expected to drive the market growth in this region. Further, rising cancer cases and cancer deaths in the region is further fueling the market growth.According to the European Commission, around 2.7 million new cancer cases and around 1.3 million cancer deaths were reported in 2020. The geriatric population of aged 65 years or above were the most affected by cancer in Europe. Breast cancer has been recorded as the most diagnosed cancers across the European countries in 2020.

Report Highlights

Based on the technology type, the monoclonal antibodies segment dominated the market in 2020. Monoclonal antibodies specifically target the effected cells and helps in the better treatment. Moreover, the less toxicity and low risks of side-effects as it does not affects the normal cells is a major factor that boosted the demand for the monoclonal antibodies across the globe.
Based on the application, the breast cancer segment is estimated to be the most opportunistic segment during the forecast period. The rapidly growing cases of breast cancer among the global women population is the primary factor behind this. According to the International Agency for Cancer Research, breast cancer has become the most diagnosed type of cancer across the globe and this alarming rise in the growth rate of breast cancer is anticipated to boost this segment.
Based on the end user, the hospitals segment dominated the market in 2020. The rising number of hospital admissions owing to the surging growth in the number of cancer cases and deaths has boosted the growth of this growth. The rising government expenditure on the development of the healthcare infrastructure especially in the developed nations is further expected to fuel the market growth.

Table of Contents

Scope of the Cancer Immunotherapy Market Report

Report Highlights	Details
Market Size	USD 275.11 Billion by 2032
Growth Rate	CAGR of 10.70% From 2023 to 2032
Largest Market	North America
Fastest Growing Market	Asia Pacific
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	Technology, Cancer Type, End User, Region

Cancer Immunotherapy Market Dynamics

Driver

Rising awareness regarding the cancer immunotherapy

The technological advancements in the biologics has encouraged the development of the cancer immunotherapy. Moreover, certain inconveniences associated with the conventional chemotherapy such as reoccurrence of cancer, organ failure, and high costs have compelled the patients to opt for improved cancer treatment solutions. Hence, the less side-effects and improved treatment offered by the cancer immunotherapy is expected to drive the market growth.

Restraints

High cost of the therapy

The high costs associated with the acquisition of the cancer immunotherapy may restrict the low and middle income patients to afford the cancer immunotherapy and hence may hinder the market growth in the forthcoming years.

Opportunities

The rising adoption of healthcare insurance

The high healthcare costs and rising burden of diseases across the globe has compelled the population to buy a healthcare insurance. The medical and financial assistance provided by the healthcare insurances is expected to drive the adoption of the cancer immunotherapy among the cancer patients across the globe.

Challenges

Lack of awareness among the population

The major challenge for the market players is to spread the awareness regarding the benefits of getting the cancer immunotherapy. However, the lack of awareness in the developing and the underdeveloped regions regarding the availability of cancer immunotherapy is restricting the growth of the market.