Immunotherapy Drugs Market

Global Immunotherapy Drugs Market Size (2024 to 2029)

The size of the global immunotherapy drugs market was worth USD 112.69 billion in 2024. This value is further forecasted to grow to USD 185.65 billion by 2029, growing at a CAGR of 10.5% between 2024 to 2029.

MARKET DRIVERS

The growing prevalence of cancer and increasing awareness among healthcare professionals majorly drive the growth of the immunotherapy drugs market.

The number of people suffering from cancer is on the rise worldwide and as per the predictions of the World Health Organization (WHO), the number of cancer patients is expected to grow by 70% in the next couple of decades. The need for new and effective treatment options has increased significantly in recent years due to the growing cancer patient population. Immunotherapy drugs are one of the promising treatment options for cancer as these are capable enough to boost the immune system of cancer patients to attack the cancer cells and help get promising outcomes for the cancer patients. On the other hand, the awareness among healthcare professionals and patients regarding the potential benefits of immunotherapy drugs and their effectiveness in curing cancer has increased considerably in recent years. Immunotherapy is beneficial compared to traditional treatments such as chemotherapy due to its low toxicity and potential for low-term remission. The increased awareness among healthcare professionals regarding the benefits of immunotherapy drugs led to the growing adoption of immunotherapy drugs as a treatment option for cancer patients.

Technological advancements and a supportive regulatory environment by regulatory agencies such as FDA for immunotherapy drugs favor the growth rate of the immunotherapy drugs market. The growing investments in the R&D activities by the market participants, increasing healthcare expenditure by governments and private organizations, rising prevalence of autoimmune diseases such as rheumatoid arthritis and multiple sclerosis and growing adoption of personalized medicine boost the growth rate of the market.

The growing number of collaborations and partnerships between pharmaceutical companies and research organizations, high success rates of immunotherapy drugs in treating certain types of cancer and other diseases, increasing access to healthcare, especially in developing countries and patent expirations of traditional drugs promote market growth. The development of advanced manufacturing techniques, such as cell culture technology, the growing prevalence of infectious diseases such as HIV/AIDS and hepatitis, increasing demand for combination therapies, growing focus on precision medicine, and rising adoption of immunotherapy in clinical practice and ongoing clinical trials investigating new applications of immunotherapy further accelerate the growth rate of the immunotherapy drugs market.

MARKET RESTRAINTS

With the high cost of the treatment of immunotherapy and high reduction of strength and effectiveness, the rate of the product development cycle is hindering the global immunotherapy drugs market growth. Lack of knowledge of immunotherapy drugs and overall costly treatment is restraining the market. Side effects of immunotherapy on another body are supposed to limit the growth of the global immunotherapy drugs market. The challenge of immunotherapy is to improve the effectiveness and patient response rates. Additional makers would help find a way to address challenges posed by tumor heterogeneity because of the probability of targeting more than one cell type to recognize multiple types of antigens. The high cost of the products is one of the significant challenges to the Global Immunotherapy Drugs Market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Immunotherapy Drugs Market Analysis By Drug Type

Based on drug type, the monoclonal antibodies segment had the dominating share of the global market in 2022 and is predicted to hold the domination in the worldwide market throughout the forecast period. The growing prevalence of chronic diseases such as cancer and other diseases is one of the major factors propelling segmental growth. Technological advancements, rising adoption of personalized medicine and the growing number of approvals and indications for monoclonal antibodies further boost the growth rate of the segment.

The checkpoint inhibitors segment is predicted to account for a substantial share of the global immunotherapy drugs market during the forecast period. The effectiveness of checkpoint inhibitors in treating cancer and the growing number of R&D activities for cancer treatment majorly drive segmental growth.

Global Immunotherapy Drugs Market Analysis By Application

Based on the application, the lung cancer segment held the major share of the global market in 2022 and is expected to grow at a promising CAGR during the forecast period. The growing incidence of lung cancer and the growing number of approvals for immunotherapy drugs that can treat lung cancer such as Keytruda (pembrolizumab) and Opdivo (nivolumab) primarily drive the segmental growth. In addition, factors such as the rising demand for non-invasive cancer treatments, the increasing number of advancements in cancer immunotherapy research and growing healthcare expenditure further promote segmental growth.

The blood cancer segment accounted for the second-largest share of the global market in 2022 and is expected to register a healthy CAGR during the forecast period. Factors such as the growing adoption of CAR-T cell therapy for the treatment of blood cancer, increasing demand for combination therapy for multiple myeloma treatment and the growing number of R&D activities on immune checkpoint inhibitors for blood cancer treatment primarily boost the segmental growth. The high cost of immunotherapy drugs for blood cancer treatment and favorable reimbursement policies for immunotherapy drugs in developed countries further contribute to the growth of the segment.

The glioblastoma segment is anticipated to register a prominent CAGR during the forecast period. The growing research on adoptive cell transfer therapy for glioblastoma treatment, emergence of combination therapy for glioblastoma treatment and limited treatment options for recurrent glioblastoma drive the segmental growth. The high mortality rate of glioblastoma and favorable reimbursement policies for immunotherapy drugs in developed countries further boost the growth rate of the segment.

The breast cancer segment is predicted to register a notable CAGR during the forecast period owing to the emergence of targeted therapy for HER2-positive breast cancer, increasing demand for immune checkpoint inhibitors for advanced breast cancer and rising use of immunotherapy in combination with chemotherapy for breast cancer treatment.

REGIONAL ANALYSIS

The North American immunotherapy drugs market had the largest share of the global market in 2022 and the domination of the North American region is anticipated to continue during the forecast period. The growing cancer patient population in North America, strong support from the North American governments for the R&D of cancer treatments and the presence of several market participants and academic institutions primarily propel the North American market growth. The growing adoption of advanced therapies and technologies, favorable reimbursement policies for immunotherapy drugs, and growing investments from public and private organizations for immunotherapy drugs in North America further boost the growth rate of the North American market. The U.S. accounted for the major share of the North American market in 2022, followed by Canada and the domination of the U.S. market is expected to continue throughout the forecast period owing to the growing prevalence of cancer and increasing healthcare expenditure in the U.S.

The European immunotherapy drugs market was the second-largest regional market for immunotherapy drugs worldwide in 2022. The European immunotherapy drugs market is predicted to register a notable CAGR during the forecast period owing to the growing aging population, rising incidence of cancer and increasing adoption of immunotherapy drugs as a first-line treatment option in Europe. Favorable regulatory environment for drug approval and commercialization, a growing number of collaborations between pharmaceutical companies and academic institutions and the emergence of personalized medicine for cancer treatment further support the regional market growth.

The APAC immunotherapy drugs market is one of the lucrative regional markets for immunotherapy drugs and is estimated to grow at the highest CAGR during the forecast period owing to factors such as the rising incidence of cancer in some countries of the Asia-Pacific region especially lung and gastric cancer, increasing demand for advanced cancer treatments and growing investments for the development of healthcare infrastructure and RD in the Asia-Pacific region. Favorable regulatory environment for drug approval and commercialization in some countries, the emergence of local players offering affordable immunotherapy drugs, increasing healthcare expenditure and growing healthcare awareness further support the growth rate of the regional market. Japan held the major share of the APAC market in 2022 and India is estimated to witness the fastest growth during the forecast period.

The Latin American immunotherapy drugs market accounted for a considerable share of the global market in 2022 and is expected to grow at a healthy CAGR during the forecast period. The growing cancer patient population in Latin America, the increasing adoption of immunotherapy drugs as a treatment option and the emergence of biosimilars for cancer treatment support the regional market growth.

The MEA immunotherapy drugs market captured a moderate share of the global market in 2022 and is expected to grow steadily during the forecast period owing to the high incidence of breast cancer and cervical cancer in the MEA countries and limited access to advanced cancer treatments and technologies in some regions.

KEY PLAYERS IN THE GLOBAL IMMUNOTHERAPY DRUGS MARKET 

Some of the notable companies leading the global immunotherapy drugs market profiled in this report are Merck, Roche, Eli Lilly, Amgen, Novartis, Celgene, AstraZeneca, Bristol Myers Squibb, GlaxoSmithKline PLC, and Seattle Genetics.

RECENT HAPPENINGS IN THE MARKET

• In January 2019, Alligator Biosciences announced a novel concept in bispecific antibody formats RUBY. The ability to give generative therapeutic antibodies that are both efficient and highly manufacturable. 
• In November 2019, Myriad Genetics announced that Japan’s Health, Welfare, and Labor had approved the BRAS Analysis Diagnostic system to help physicians determine which women with breast cancer and have Hereditary Breast and Ovarian Cancer syndrome. 
• In December 2019, The US FDA approved AstraZeneca Lynparza and Myriad Genetics’ CDx for BRCA as a maintenance treatment for certain metastatic pancreatic cancer patients. 
• In November 2019, Myriad Genetics presents new test Data in the Autoimmune system at Annual Meeting in Atlanta, GA. 
• In October 2019, The U.S. FDA expanded the approval for GSKs as a fourth or later-line treatment option for advanced ovarian, fallopian tube, or primary peritoneal cancer patients who have homologous recombination deficiency. 

DETAILED SEGMENTATION OF GLOBAL IMMUNOTHERAPY DRUGS MARKET  INCLUDED IN THIS REPORT

This research report on the global immunotherapy drugs market has been segmented and sub-segmented based on the drug type, application, and region.

By Drug Type

• Monoclonal Antibodies
• Interferons
• Interleukins
• Vaccines
• Checkpoint Inhibitors

By Application

• Blood Cancer
• Cervical Cancer
• Breast Cancer
• Glioblastoma
• Lung Cancer
• Gastric Cancer
• Prostate Cancer
• Melanoma

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa