Cancer Immunotherapy Market Size, Share & Trends Analysis Report By Product, By Application, By Distribution (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), By End-use, And Segment Forecasts, 2025 - 2030

Cancer Immunotherapy Market Size & Trends

The global cancer immunotherapy market size was valued at USD 226.38 billion in 2024 and is projected to grow at a CAGR of 11.90% from 2025 to 2030. Increasing prevalence of cancer is a major factor contributing to the market growth. According to the American Cancer Society Journal, in the U.S. about 2 million new cancer cases and 611,720 cancer deaths are estimated to occur in the year 2024. Growing R&D activities by pharmaceutical companies, technological advancements, and introduction of novel drugs are factors expected to drive cancer immunotherapy market growth in the forecast period.

Increasing prevalence of cancer is boosting the demand for the cancer immunotherapy market. 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 significant increase in the disease burden on the population is expected to drive the cancer immunotherapy market during the forecast period.

Rising approval of novel immunotherapies is expected to propel the market growth over the forecast period. For instance, in December 2024, AstraZeneca’s immunotherapy drug Imfinzi (durvalumab) became the first and only approved regimen for adult patients with limited-stage small cell lung cancer (LS-SCLC) whose disease has not progressed after platinum-based chemotherapy and radiation therapy. Similarly, the increasing patient preference for subcutaneous drug administration is fueling market growth. In September 2024, the FDA approved Tecentriq Hybreza, the first subcutaneous PD-(L)1 inhibitor, representing a significant breakthrough in cancer immunotherapy. This formulation offers patients a faster treatment option (7 minutes versus 30-60 minutes for intravenous infusion) while maintaining the same safety and efficacy as the intravenous version.

Various strategic initiatives undertaken by major players are also anticipated to facilitate the market demand. For instance, in September 2023, Immatics and Moderna strategically collaborated to develop the Oncology Therapeutics. The collaboration includes an assessment of Immatics' investigational PRAME203 TCRT in combination with the MARTE mRNA cancer vaccine being developed by Moderna. Moreover, in August 2023, FBD Biologics Limited and Shanghai Henlius Biotech, Inc. entered into strategic collaboration to boost the development of new immunotherapies. These aspects are boosting the cancer immunotherapy market.

Market Concentration & Characteristics

The global cancer immunotherapy market has experienced a significant degree of innovation, advancements include targeted therapies, and precision medicine, tailoring treatments to individual genetic profiles. Targeted therapies focus on specific molecules involved in cancer growth, minimizing damage to healthy cells. Precision medicine analyzes genetic alterations, allowing personalized treatment strategies for better efficacy. Additionally, advancements in CAR-T cell therapy showcase the potential of genetically engineered immune cells to specifically target cancer cells.

Several market players, such as Pfizer Inc., AstraZeneca, Merck & Co., Inc, and F. Hoffmann-La Roche Ltd, are involved in merger and acquisition activities. Through M&A activity, these companies expand their geographic reach and enter new territories.

Companies are actively investing substantial resources in clinical trials and regulatory submissions to obtain regulatory approval for pipeline products. This results in increasing the cost of developing novel cancer immunotherapy technologies.

Cancer immunotherapy leverages the body's immune system to fight against cancer. This approach of cancer therapy has witnessed notable product expansion in the recent years. Checkpoint inhibitors like Keytruda and Opdivo lead the way, blocking signals cancer cells use to evade immune detection. CAR-T cell therapies, such as Kymriah and Yescarta, involve modifying a patient's immune cells to target and destroy cancer. Bispecific antibodies, exemplified by Blinatumomab, enhance immune response by connecting immune cells to cancer cells. These innovative products mark a transformative shift in cancer treatment, offering more options and improved patient outcomes.

Product Insights

Monoclonal antibodies segment led the market and accounted for the largest revenue share of 64.97% in 2024. Increasing investment for R&D of monoclonal antibodies-such as bispecific antibodies, conjugated monoclonal antibodies, and naked antigen binding antibodies-has opened new avenues for the growth of companies in the oncology therapeutics space. New-age monoclonal antibodies are designed to impart or possess adaptive immunity, antibody dependent cellular toxicity, and antigen specificity. Monoclonal antibodies are being largely studied for their therapeutic effects against various types of cancers. For instance, in August 2023, FDA has approved Talvey to treat adult patients with relapsed or refractory multiple myeloma who have received at least four prior lines of treatment, including proteasome inhibitors, immunomodulatory agents and an antiCD38 monoclonal antibody.

Oncolytic Viral Therapies and Cancer Vaccines is anticipated to witness a significant market growth over the forecast period. The development of cancer vaccines, which are subject to significant obstacles such as lack of immunogenicity and immunosuppression effects within the tumor microenvironment, must succeed. According to American Association for Cancer Research in June 2023, the US Food and Drug Administration has only approved a limited number of therapeutic vaccines. Some of the choices available include sipuleucel-T (Provenge), which is a vaccine made from cells and is authorized as a treatment for unconventional prostate cancer; laherparepvec talimogene (Imlygic or T-VEC), which is a vaccine derived from a virus and is approved for Bacillus Calmette Guérin and treating metastatic melanoma, a weakened strain of bacteria used to prevent the recurrence of early-stage bladder cancer following surgery. These aspects are boosting the cancer immunotherapy market.

Application Insights

Lung cancer segment accounted for the largest revenue share in 2024, the increasing prevalence of lung malignancies, growing awareness programs, increasing adoption of immunotherapy, and presence of a robust pipeline of investigational candidates are some of the key factors expected to drive the segment's growth. Furthermore, rising product approval and product launches are fueling 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.

The prostate cancer segment is estimated to register a significant CAGR over the forecast period. Increasing prevalence and rising awareness about immunotherapy drugs is estimated to drive the market growth over the coming years. For instance, according to the American Cancer Society journal, an estimated 299.010 cancer cases will be diagnosed in the U.S., and 35,250 men will die in 2024. Additionally, a strong presence of pipeline drugs expected to be commercialized in the coming years is anticipated to boost the overall market growth.

Distribution Insights

Hospital pharmacy segment dominated the market in 2024. The rising demand for immunotherapies in hospitals and the increasing number of hospitalizations due to an increase in cancer diseases drives hospital pharmacy growth. The difficulty of the treatment and patients getting affected aged over 65 years increased the hospitalization rate of cancer patients. This has resulted in a high share of the segment. As a result, the segment's share in this market is large.

Online pharmacy segment is estimated to register the significant CAGR over the forecast period, the growing demand of the internet pharmacy segment is a chief factor, e.g. a surge in internet penetration, an increasing adoption of telemedicine, greater use of technology and convenience & time efficiency. Moreover, in the forecast period, the presence of prominent e-pharmacy players and their discounts also help to increase demand for the segment. These aspects are boosting the cancer immunotherapy market.

End Use Insights

Hospitals & Clinics segment accounted for the largest revenue share in 2024. In addition to rising incidence of diseases, increased treatment rate, higher awareness and malignancy diagnosis as well as a large number of hospitals offering immunotherapies is contributing to an increase in the number of patients treated. To treat cancer, hospitals are adopting immunotherapies. 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.

Cancer Research Centers segment is estimated to register the significant CAGR over the forecast period. Increased research on cancer and ongoing supportive activities carried out by government or national organizations in the form of grant funding have contributed to segment growth with a view to stimulating demand. According to the Becker's Healthcare article published in November 2023, to expand research into cancer, Texas Oncology has recently revealed its Amarillo Comprehensive Cancer Center, a state-of-the-art facility representing a significant investment of USD 150 million. This cutting-edge center is poised to enhance cancer care, providing advanced and comprehensive services in the Amarillo region. These aspects are boosting the cancer immunotherapy market.

Regional Insights

North America cancer immunotherapy drugs market dominated the global market and accounted for 43.88% share in 2024, driven by a rising patient awareness, high disease burden, proactive government measures, technological advancements, and improvements in healthcare infrastructure. The discovery of new immunotherapies and the introduction of various treatment options have contributed to improving the availability of therapies for patients with advanced cancer. For instance, in August 2024, Merck announced that Health Canada had approved KEYTRUDA (pembrolizumab), an anti-PD-1 therapy, in combination with enfortumab vedotin for adult patients with advanced or metastatic urothelial cancer who have not received prior systemic therapy.

U.S. Cancer Immunotherapy Market Trends

The cancer immunotherapy market in the U.S. is expected to witness a significant CAGR during the forecast period, driven by the growing demand for effective treatments for cancer. In December 2024, AstraZeneca’s Imfinzi (durvalumab) received approval in the U.S. for treating adult patients with small cell lung cancer whose disease has not progressed concurrently with platinum-based chemotherapy & radiation therapy. The FDA approved this after the drug secured priority review and breakthrough therapy designation. Such innovations are expected to drive the market.

Europe Cancer Immunotherapy Market Trends

Europe cancer immunotherapy market is expected to experience significant growth, driven by the increasing adoption of immunotherapy over conventional treatment methods. This shift is largely due to the effectiveness of immunotherapy in treating various cancers, along with a growing demand for monoclonal biosimilars. Besides, one of the reasons for the market growth is that a high level of unmet need in cancer that has significantly changed the therapeutic landscape and which have increasingly benefited patients with some cancers, e.g., lung cancer and melanoma.

The cancer immunotherapy market in UK is demonstrating consistent growth, bolstered by advanced healthcare infrastructure, robust pharmaceutical research, and strong collaborations between the public and private sectors. Increased awareness of immunotherapy drugs and their benefits has led to improved treatment rates and a rising demand for effective therapeutic options.

The cancer immunotherapy market in Germany shows stable growth, fueled by advanced healthcare infrastructure and a high prevalence of infectious diseases and cancer, which drives demand for effective therapeutic options.

Asia Pacific Cancer Immunotherapy Market Trends

Asia Pacific cancer immunotherapy market is anticipated to witness the fastest CAGR of 15.18% from 2025 to 2030. One of the primary factors driving this growth is an increase in the elderly population, a high number of patients with targeted diseases and improved healthcare infrastructure. Furthermore, the expansion of this region is being aided by an increasing legal acceptance of immunotherapeutics in these regions. According to the MJH Life Sciences article published in November 2023, durvalumab (Imfinzi) plus gemcitabine and cisplatin for frontline use in adult patients with locally advanced or metastatic biliary tract cancer is approved by China’s National Medical Products Administration.

The cancer immunotherapy market in China is expected to grow at the fastest rate due to rising demand for effective cancer treatments and advancements in healthcare infrastructure. The market is witnessing an increasing adoption of immunotherapy, particularly monoclonal antibodies, which accounted for a substantial market share in recent years. The approval of key immunotherapy drugs, such as Opdivo and Keytruda, has marked a turning point in the treatment landscape, providing new treatment options for various malignancies. In addition, the Chinese government's initiatives to enhance cancer care and promote biomedical research foster a supportive environment for the development of and accessibility to immunotherapy treatments. Despite challenges such as limited awareness among patients and healthcare providers, the overall outlook for the immunotherapy drugs industry in China remains positive, reflecting a commitment to improving cancer treatment and patient outcomes.

Latin America Cancer Immunotherapy Market Trends

Latin America cancer immunotherapy market is expected to experience significant growth, driven by growing entry of established market players. Increasing awareness of diseases, improved healthcare access, and constant therapeutic innovation. Key countries such as Brazil and Argentina are leading the expansion. Argentina is also witnessing growth, driven by growing innovation of prominent immunotherapy and rising requirements for second-line therapy for non-small cell lung cancer.

The cancer immunotherapy market in Brazil is lucratively growing as investors in Brazil are actively funding pharmaceutical development and manufacturing facilities, taking advantage of untapped opportunities in the realm of immunotherapy drugs. Furthermore, patient populations are increasingly seeking effective drug formulations, which is intensifying competition in this area.

MEA Cancer Immunotherapy Market Trends

MEA cancer immunotherapy market is is still developing, with limited awareness and access to healthcare in many areas. However, countries such as the UAE, Saudi Arabia, and South Africa are experiencing gradual growth due to increasing awareness, government healthcare initiatives, improved healthcare infrastructure, and better access to immunotherapy drugs.

The cancer immunotherapy market in South Africa is witnessing growing interest, attributing to growing personalized medicine in tailoring treatment to individual patient needs. The South African immunotherapy market is evolving, with a growing focus on improving patient outcomes despite existing hurdles.

Key Cancer Immunotherapy Company Insights

Some key players in the cancer immunotherapy market are Pfizer Inc., AstraZeneca, and Merck & Co., Inc. These companies focus on research & development, partnerships, and product launches to expand their market presence. They invest in targeted therapies and personalized medicine for oncology and autoimmune diseases. Acquisitions and collaborations are also part of their strategy, allowing access to technologies & expanding their product portfolios. Moreover, investment in clinical trials and regulatory approvals supports market growth.

Recent Developments

• In January 2025, AbbVie and Simcere Zaiming announced partnership for the development of new trispecific antibody candidate for treatment of multiple myeloma.

• In November 2024, Dr. Reddy's Laboratories launched Zytrovi, which is an immunotherapy drug for treatment of metastatic nasopharyngeal carcinoma (NPC).

• In October 2023, MEKTOVI (binimetinib) + BRAFTOVI (encorafenib) for the treatment of adult patients with metastatic non-small cell lung cancer (NSCLC) with a BRAF V600E mutation, as detected by an FDA-approved test has received approval from U.S. Food and Drug Administration (FDA).

• In October 2023, Merck's anti-PD-1 therapy KEYTRUDA was approved by the U.S. Food and Drug Administration (FDA) for the treatment of patients with resectable non-small cell lung cancer (NSCLC) as neoadjuvant treatment and adjuvant treatment following surgery.

• In December 2023, the xU.S. FDA approved the FRUZAQLA  (fruquintinib) for Previously Treated Metastatic Colorectal Cancer by Takeda.

Cancer Immunotherapy Market Report Scope

 Global Cancer Immunotherapy Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global cancer immunotherapy market report on the basis of product, application, distribution, end use, and region:

• Product Outlook (Revenue in USD Million, 2018 - 2030)

  • Monoclonal Antibodies

  • Immunomodulators

  • Oncolytic Viral Therapies & Cancer Vaccines

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Lung Cancer

  • Breast Cancer

  • Colorectal Cancer

  • Melanoma

  • Prostate Cancer

  • Head and Neck Cancer

  • Ovarian Cancer

  • Pancreatic Cancer

  • Others

• Distribution Outlook (Revenue, USD Million; 2018 - 2030)

  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Pharmacy

• End Use Outlook (Revenue, USD Million; 2018 - 2030)

  • Hospitals & Clinics

  • Cancer Research Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait