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Cancer Immunotherapy Market Size - By Product (Monoclonal Antibodies, Cancer Vaccines, Immunomodulators, Oncolytic Viral Therapies, Cytokines), Cancer Type (Lung, Breast, Colorectal, Prostate, Pancreatic), End-use & Forecast, 2024 – 2032
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Cancer Immunotherapy Market
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Premium Report Details
Base Year: 2023
Companies covered: 125
Tables & Figures: 233
Countries covered: 23
Pages: 180
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Cancer Immunotherapy Market Size
Cancer Immunotherapy Market size was valued at USD 125.7 billion in 2023 and is estimated to grow at 9.3% CAGR from 2024 to 2032. Cancer immunotherapy refers to a diverse set of treatments that harness the body's immune system to recognize, attack, and eliminate cancer cells. Unlike traditional cancer treatments such as chemotherapy and radiation therapy, which directly target cancer cells, immunotherapy works by enhancing or restoring the immune system's ability to recognize and destroy cancer cells.
The immune system is equipped with specialized cells, proteins, and mechanisms designed to identify and eliminate foreign invaders, including cancer cells. However, cancer cells can sometimes evade detection or suppression by the immune system, allowing tumors to grow and spread unchecked.
The rising prevalence of cancer is a significant driving factors for the market. For instance, according to the World Health Organization (WHO), in 2022, there were an estimated 20 million new cancer cases and 9.7 million deaths worldwide. Thus, this underscores the urgent need for effective treatments such as cancer immunotherapy, driving its demand and market growth.
Furthermore, advancements in research and development, personalized medicine and biomarker development medicine are the promoting factors fostering the growth of the market.
Cancer Immunotherapy Market Trends
Personalized medicine and cancer biomarkers development have emerged as pivotal pillars in the advancement of cancer immunotherapy. These innovative approaches offer the promise of tailoring treatment strategies to the individual characteristics of each patient, thereby optimizing therapeutic efficacy while minimizing potential adverse effects. By leveraging the unique genetic makeup, tumor biology, and immune profile of patients, personalized medicine aims to revolutionize cancer care by delivering targeted and precise interventions.
Cancer Immunotherapy Market Analysis
Based on product, the market is divided into monoclonal antibodies, immunomodulators, cancer vaccines, oncolytic viral therapies, and cytokines. Further, immunomodulators are segmented into checkpoint inhibitors, immune checkpoint modulators, and other immunomodulators. The monoclonal antibodies segment is forecasted to reach USD 119.6 billion by 2032, displaying robust growth propelled by several key factors.
Based on cancer type, the cancer immunotherapy market is bifurcated into lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, pancreatic cancer, and other cancer types. The breast cancer segment accounted for USD 19.5 billion in 2023.
Based on end-use, the cancer immunotherapy market is bifurcated into hospitals, specialty clinics, and cancer research centres. The hospitals segment accounted for USD 78.6 billion in 2023.
The U.S. cancer immunotherapy market is forecasted to reach USD 115.2 billion by 2032.
The cancer immunotherapy market in UK is expected to experience significant and promising growth from 2024 to 2032.
Japan cancer immunotherapy market is anticipated to witness lucrative growth between 2024 – 2032.
The cancer immunotherapy market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
Cancer Immunotherapy Market Share
The cancer immunotherapy industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products and services based on different technologies is among a key market strategy. Some of the leading industry players have a notable presence in the market.
Cancer Immunotherapy Market Companies
Some of the eminent market participants operating in the cancer immunotherapy industry include:
Cancer Immunotherapy Industry News
The cancer immunotherapy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Product
Market, By Cancer Type
Market, By End-use
The above information is provided for the following regions and countries: