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Cancer Immunotherapy Market

Pages: 180 | Base Year: 2024 | Release: July 2025 | Author: Versha V.

Market Definition

Cancer immunotherapy is a form of treatment that stimulates the body’s immune system to detect and destroy cancer cells more effectively, using methods such as monoclonal antibodies, immune checkpoint inhibitors, and cancer vaccines.

The market encompasses a wide range of biologic and targeted therapies, including T-cell therapies, cytokines, oncolytic viruses, and immune modulators, applied across various cancer types such as lung, melanoma, breast, and hematologic malignancies. The scope spans pharmaceutical innovations, hospital treatments, clinical trials, and regulatory landscapes, making it a critical segment within oncology therapeutics. 

Cancer Immunotherapy Market Overview

The global cancer immunotherapy market size was valued at USD 150.12 billion in 2024 and is projected to grow from USD 170.28 billion in 2025 to USD 457.04 billion by 2032, exhibiting a CAGR of 15.15% during the forecast period.

The market growth is attributed to increased investments in research and development enhancing therapeutic innovation, along with advanced technologies being integrated into drug discovery to streamline development and improve treatment precision.   

Major companies operating in the cancer immunotherapy industry are Amgen Inc., AstraZeneca, F. Hoffmann-La Roche Ltd, Bayer AG, Bristol-Myers Squibb Company, Lilly, Janssen Global Services, LLC, Novartis AG, Pfizer Inc., Sanofi, GSK plc., BioNTech SE., Regeneron Pharmaceuticals Inc., Exelixis, Inc., and bluebird bio, Inc. 

Rising prevalence of cancer is significantly propelling the demand for targeted and effective treatment modalities, which is driving the market. The need for therapies offering higher specificity, reduced toxicity, and improved survival outcomes becomes more urgent as incidence rates increase across various cancer types.

Consequently, this demand is driving a clear shift from conventional treatments toward immunotherapy approaches, including monoclonal antibodies, checkpoint inhibitors, and personalized cell-based therapies.

Manufacturers and healthcare providers are actively advancing research and expanding production capabilities to develop and deliver more precise immunotherapy solutions. Moreover, strategic collaborations, clinical trials, and regulatory filings are accelerating innovation pipelines that are aligned with the evolving oncology landscape. As a result, the market is registering sustained expansion, as therapeutic advancements continue to address the growing global cancer burden.

  • In April 2024, the National Center for Biotechnology Information (NCBI) referenced projections from the American Cancer Society (ACS), which estimated approximately 2,001,140 new cancer cases in the U.S. for 2024. This sharp rise in cancer incidence intensified the pressure on healthcare systems to adopt more targeted and less toxic treatment approaches. As a result, the growing disease burden drove the demand for advanced cancer immunotherapies, including immune checkpoint inhibitors, monoclonal antibodies, and chimeric antigen receptor T-cell (CAR-T) therapies. 

Cancer Immunotherapy Market Size & Share, By Revenue, 2025-2032

Key Highlights:

  1. The cancer immunotherapy industry size was valued at USD 150.12 billion in 2024.
  2. The market is projected to grow at a CAGR of 15.15% from 2025 to 2032.
  3. Asia Pacific held a market share of 32.12% in 2024, with a valuation of USD 45.26 billion.
  4. The lung cancer segment garnered USD 40.43 billion in revenue in 2024.
  5. The immune checkpoint inhibitors segment is expected to reach USD 174.83 billion by 2032.
  6. The intravenous segment secured the largest revenue share of 74.00% in 2024.
  7. The research institutes segment is poised for a robust CAGR of 15.93% through the forecast period.
  8. The market in North America is anticipated to grow at a CAGR of 15.72% during the forecast period.

Market Driver

Rising R&D Investments Fueling Therapeutic Innovation

Increasing research and development (R&D) investments by biotech and pharmaceutical companies are significantly driving the cancer immunotherapy market, as they accelerate the creation of advanced and targeted immunotherapeutic solutions.

These investments are directed toward enhancing monoclonal antibodies, immune checkpoint inhibitors, cancer vaccines, and adoptive cell therapies, which collectively improve treatment precision and reduce adverse effects. Moreover, this focus enables quicker clinical advancements and regulatory clearances, meeting the rising need for effective oncology interventions.

Consequently, key manufacturers and biotechnology providers are intensifying their R&D activities by allocating dedicated budgets, forming strategic partnerships with research institutions, and expanding immunotherapy-focused facilities.

These initiatives help companies strengthen innovation pipelines and increase the availability of breakthrough therapies across global markets. Therefore, sustained R&D investment continues to act as a core enabler of market expansion and long-term growth in the cancer immunotherapy landscape.

  • In April 2025, Novartis unveiled a substantial USD 23 billion investment plan in the U.S. over five years, aimed at advancing its research and development capabilities. A key part of this initiative includes establishing a new biomedical R&D hub in San Diego, focused on enhancing biologics and radioligand therapies, essential for driving innovation in immuno-oncology. This strategic move highlights the pharmaceutical industry's growing commitment to expanding research and infrastructure related to cancer immunotherapy.

Market Challenge

High Therapeutic Expenses

High treatment costs continue to pose a significant challenge in the cancer immunotherapy market, as the pricing of advanced therapies such as CAR-T cells and immune checkpoint inhibitors restricts patient access and exerts financial pressure on healthcare systems. These therapies involve complex manufacturing processes and require specialized infrastructure, boosting the cost of development and delivery remains high.

Moreover, limited reimbursement mechanisms and regional affordability gaps constrain market reach and reduce the pace of adoption in emerging and underserved economies.

Manufacturers are actively investing in scalable production methods and adopting process efficiencies to reduce overall manufacturing expenses, while forming collaborations with healthcare providers and payers to implement value-based pricing models and expand reimbursement support.

These combined efforts began to address cost-related challenges by improving affordability and enhancing access to therapies. This has contributed to a gradual increase in treatment availability and market penetration, which continues to strengthen the commercial viability of cancer immunotherapy across global markets.

Market Trend

Technological Integration in Drug Discovery

A key trend shaping the cancer immunotherapy market is the growing integration of Artificial Intelligence (AI) and Machine Learning (ML) in drug discovery and development processes. As these technologies continue to evolve, they are enabling the identification of novel targets, improving immune response predictions, and streamlining therapeutic design with increased accuracy.

Moreover, AI and ML are accelerating preclinical research and clinical trial optimization through data-driven insights. This ongoing technological transition is enhancing the efficiency and success rate of immunotherapy innovations, and consequently strengthening R&D capabilities while supporting the market’s progression toward more personalized and effective cancer treatments. 

  • In June 2024, the National Institutes of Health (NIH) and National Cancer Institute released the LORIS model, a logistic-regression AI tool predicting patient response to immune checkpoint inhibitors using routine clinical data across 2,880 cases. This advancement exemplifies how AI integration is accelerating immunotherapy R&D and precision drug discovery. 

Cancer Immunotherapy Market Report Snapshot

Segmentation

Details

By Cancer Type

Lung Cancer, Breast Cancer, Melanoma, Prostate Cancer, Colorectal Cancer, Blood Cancer (Leukemia, Lymphoma)

By Therapy

Immune Checkpoint Inhibitors, Monoclonal Antibodies, Cancer Vaccines, Adoptive Cell Therapy (CAR-T, TILs), Cytokines & Interleukins

By Route of Administration

Intravenous, Subcutaneous, Oral

By End-User

Hospitals & Clinics, Research Institutes

By Region

North America: U.S., Canada, Mexico

Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe

Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific

Middle East & Africa: Turkey, U.A.E., Saudi Arabia, South Africa, Rest of Middle East & Africa

South America: Brazil, Argentina, Rest of South America

Market Segmentation:

  • By Cancer Type (Lung Cancer, Breast Cancer, Melanoma, Prostate Cancer, Colorectal Cancer, Blood Cancer (Leukemia, Lymphoma)): The lung cancer segment earned USD 40.43 billion in 2024, due to its high global incidence and mortality rates, which are driving significant demand for advanced, targeted immunotherapeutic solutions aimed at improving survival outcomes.
  • By Therapy (Immune Checkpoint Inhibitors, Monoclonal Antibodies, Cancer Vaccines, Adoptive Cell Therapy (CAR-T, TILs) and Cytokines & Interleukins): The immune checkpoint inhibitors segment held 38.00% share of the market in 2024, due to its proven clinical efficacy across multiple cancer types and its widespread adoption as a first-line treatment, supported by ongoing research and regulatory approvals.
  • By Route of Administration (Intravenous, Subcutaneous, and Oral): The intravenous segment is projected to reach USD 339.20 billion by 2032, owing to its high bioavailability, rapid systemic delivery, and suitability for administering complex biologics such as monoclonal antibodies and cell-based therapies.
  • By End-User (Hospitals & Clinics, and Research Institutes): The hospitals & clinics segment earned USD 84.07 billion in 2024, due to the availability of advanced infrastructure, specialized oncology departments, and skilled medical professionals necessary for administering complex immunotherapies and managing patient care.

Cancer Immunotherapy Market Regional Analysis

Based on region, the market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Cancer Immunotherapy Market Size & Share, By Region, 2025-2032

Asia Pacific cancer immunotherapy market share stood at around 32.12% in 2024, with a valuation of USD 48.22 billion. The market dominance is attributed to expanding healthcare infrastructure, as substantial investments by regional governments, private healthcare providers, and international stakeholders are being directed toward the establishment of advanced hospitals, oncology centers, and diagnostic facilities across Asia Pacific.

This continuous development is strengthening the region’s capacity for early cancer detection and prompt initiation of immunotherapy treatments, which, in turn, is driving a surge in treatment volumes.

Coordinated public and private funding is broadening access to advanced biologics and immunotherapy solutions. Furthermore, collaborations between global pharmaceutical companies and regional healthcare systems are accelerating clinical integration. Together, these interconnected factors firmly establish Asia Pacific as the leading region in the market. 

  • In February 2025, the Indian government revealed plans under the Union Budget 2025–26 to set up 200 Day Care Cancer Centres in district hospitals over the next three years. Furthermore, customs duty was waived on 36 critical cancer drugs, greatly enhancing the availability of immunotherapy treatments. These initiatives reflect a strong governmental resolve to bolster cancer care infrastructure and advance nationwide cancer control efforts.

The cancer immunotherapy industry in North America is poised for significant growth at a robust CAGR of 15.72% over the forecast period. This growth is attributed to the rising cancer incidence and prevalence across North America, which consistently drives the demand for advanced and effective treatment modalities. The need for innovative and targeted immunotherapy solutions is growing rapidly as the number of cancer diagnoses continues to rise.

Consequently, healthcare providers are increasingly integrating immune-based therapies to enhance patient outcomes and survival rates. Moreover, biopharmaceutical companies are intensifying research efforts and accelerating clinical trial activities to meet this demand. Additionally, the presence of a well-established healthcare infrastructure, combined with supportive regulatory policies, accelerates the regional market growth.

Regulatory Frameworks

  • In the U.S., the Food and Drug Administration (FDA), through its Center for Biologics Evaluation and Research (CBER), regulates cancer immunotherapies such as vaccines and CAR-T cell therapies by granting approvals via Biologics License Applications (BLAs), as outlined under Section 351 of the Public Health Service Act (PHSA) and Title 21 of the Code of Federal Regulations (CFR).
  • In China, the National Medical Products Administration (NMPA) serves as the primary regulatory authority overseeing cancer immunotherapy, ensuring product safety, efficacy, and quality, while supporting faster approvals through accelerated pathways for innovative therapies like CAR-T cells and checkpoint inhibitors.

Competitive Landscape

The competitive landscape of the cancer immunotherapy industry is characterized by a surge in product launches, reinforced by significant R&D investments and strategic pipeline advancements. 

Companies are securing approvals from the U.S. FDA for innovative immunotherapeutic products, thereby enabling faster market entry and enhancing their competitive positioning. Moreover, collaborations with academic institutions and biotechnology firms, along with expansion into emerging economies, are intensifying competition and accelerating global market growth.

  • In September 2024, Genentech, in collaboration with Halozyme, received the U.S. FDA approval for Tecentriq Hybreza, the first subcutaneous PD-(L)1 inhibitor, reflecting intensified innovation and competitive momentum in immunotherapy.

List of Key Companies in Cancer Immunotherapy Market:

  • Amgen Inc.
  • AstraZeneca
  • Hoffmann-La Roche Ltd  
  • Bayer AG
  • Bristol-Myers Squibb Company
  • Lilly
  • Janssen Global Services, LLC
  • Novartis AG
  • Pfizer Inc.
  • Sanofi
  • GSK plc.
  • BioNTech SE.
  • Regeneron Pharmaceuticals Inc.
  • Exelixis, Inc.
  • bluebird bio, Inc. 

Recent Developments (Certifications)

  • In May 2024, Amgen reported that the U.S. FDA granted accelerated approval to IMDELLTRA for treating adult patients with extensive-stage small cell lung cancer (ES-SCLC) whose disease has progressed following platinum-based chemotherapy. The approval was based on promising clinical data demonstrating a favorable response rate and duration of response (DoR).
  • In October 2023, Merck reported that the U.S. FDA approved KEYTRUDA, its anti-PD-1 therapy, for treating patients with resectable non-small cell lung cancer (NSCLC). The treatment includes platinum-based chemotherapy before surgery and continued use of KEYTRUDA alone after surgery. This marks its sixth approved use in NSCLC across both early and advanced stages.
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