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.

CANCER IMMUNOTHERAPY MARKET: REPORT SCOPE & SEGMENTATION

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.

Opportunities:

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.

Restraints:

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

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