Drugs for Immunotherapy Global Market Report 2024

The drugs for immunotherapy market size has grown rapidly in recent years. It will grow from $255.14 billion in 2023 to $281.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. During the historical period, growth was primarily propelled by factors like the increasing prevalence of cancer, unfulfilled medical requirements, heightened awareness regarding cancer immunotherapy, greater acceptance and utilization of immunotherapeutic methods, as well as increased investments made by major pharmaceutical companies in this field.

The drugs for immunotherapy market size is expected to see rapidly grown in the next few years. It will grow to $445.12 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. Anticipated growth in the forecast period is expected to stem from the introduction of combination therapies, the rise of personalized medicine, global expansion initiatives, the development of biomarker-driven treatments, and the escalation in clinical trials. Key trends projected for this period encompass progressions in immunology, advancements in CAR-T cell therapies, the emergence of targeted immunotherapies, the exploration of immunotherapy combinations, and the innovation surrounding neoantigen vaccines.

The burgeoning prevalence of cancer worldwide stands as the primary impetus behind the escalating demand for drugs in the immunotherapy market. The proliferation of cancer cases, attributed to factors like obesity, smoking, alcohol consumption, and dietary habits, is projected to soar significantly. Reports from Macmillan Cancer Support in October 2022 estimated a steep rise in cancer cases, predicting 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. With breast, lung, colon, rectum, and prostate cancers ranking as the most widespread types, lifestyle elements such as tobacco use, high BMI, limited fruit and vegetable intake, alcohol consumption, and lack of exercise contribute to roughly one-third of cancer-related deaths. This escalation in cancer incidence is set to drive up the demand for immunotherapy drugs, consequently fueling market growth.

The escalating trajectory of healthcare spending is anticipated to serve as a driving force propelling the growth of the immunotherapy drugs market. Healthcare expenditure encompasses the collective monetary outlay on healthcare services within a specified region or nation over a designated duration, encompassing expenses on medical consultations, hospitalizations, surgical procedures, diagnostics, and treatments. Notably, recent statistics from the Office for National Statistics in May 2023 indicated a substantial surge in healthcare spending within the UK. Figures revealed a nominal increase of 9.4% and a real increase of 9.7%, with total healthcare spending reaching $367.25 billion (£280.7 billion) in 2021. Pharmaceutical spending notably amounted to $51.84 billion (£39.6 billion), while preventive care spending more than doubled to $45.93 billion (£35.1 billion). This upsurge in healthcare expenditure significantly fuels the growth of the immunotherapy drugs market. Prominent entities within the immunotherapy drugs market are strategically focused on innovating novel products such as Keytruda (pembrolizumab), aimed at delivering dependable services to consumers. Keytruda, an immune checkpoint inhibitor categorized under immunotherapy, was launched by Merck & Co., Inc. In January 2023. Approved by the US Food and Drug Administration, this breakthrough therapy assists the immune system in combating cancer cells, notably approved as an adjuvant treatment for non-small cell lung cancer (NSCLC). This development stands as a substantial leap in cancer treatment, poised to positively impact the healthcare industry's landscape.

Manufacturers of drugs for immunotherapy market are increasingly collaborating or partnering with other companies to share technology, resources, and product knowledge and expand the business. For example, Illumina Inc. And Bristol-Myers Squibb (BMS) collaborated to utilize Illumina’s next-generation sequencing (NGS) technology to develop and commercialize in-vitro diagnostic (IVD) assays in support of Bristol-Myers Squibb's oncology portfolio. Allogene Therapeutics Inc. And Pfizer Inc. Entered into an asset contribution agreement to use Pfizer’s portfolio of assets related to allogeneic CAR-T therapy.

In November 2021, Pfizer Inc., a prominent pharmaceutical company based in the US, completed the acquisition of Trillium Therapeutics for a total of $2.22 billion. Through this strategic acquisition, Pfizer aims to broaden its oncology portfolio by incorporating advanced investigational immuno-therapeutics designed for hematological malignancies. Trillium Therapeutics, a biotechnology company headquartered in Canada, specializes in providing immunotherapy drugs, making this acquisition a significant move for Pfizer to expand its offerings in this therapeutic area.

Major companies operating in the drugs for immunotherapy market include F. Hoffmann-La Roche Ltd., Novartis AG, Amgen Inc., AbbVie Inc., Merck & Co. Inc., GlaxoSmithKline PLC, Eli Lilly and Company, Bristol-Myers Squibb, AstraZeneca PLC, Johnson & Johnson, UbiVac, Pfizer Inc., Sanofi SA, Bayer AG, Celgene Corporation, Incyte Corporation, Juno Therapeutics Inc., Bluebird bio, Celldex Therapeutics, BeiGene, BioNTech AG, CytomX Therapeutics, Eisai Co. Ltd., Flexus Biosciences Inc., Genscript Biotech Corporation, Gilead Sciences Inc., Harpoon Therapeutics Inc., Heptares Therapeutics Ltd., Ignyta Inc., Immatics Biotechnologies, Jounce Therapeutics Inc.

North America was the largest region in the immunotherapy market in 2023. Middle East is expected to be the fastest growing region in the drug for immunotherapy market report during the forecast period. The regions covered in the drugs for immunotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the drugs for immunotherapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary classes of immunotherapy drugs encompass monoclonal antibodies, interferons, interleukins, vaccines, checkpoint inhibitors, and other specialized treatments. Monoclonal antibodies, for instance, are produced by replicating a single white blood cell, allowing the lineage of each antibody to be traced back to its originating parent cell. These drugs find application across diverse medical domains such as cancer treatment, autoimmune conditions, inflammatory diseases, and combating infections. They are employed across various healthcare settings including hospitals, clinics, ambulatory surgical centers, and other healthcare facilities.

The drugs for immunotherapy market research report is one of a series of new reports provides drugs for immunotherapy market statistics, including drugs for immunotherapy industry global market size, regional shares, competitors with drugs for immunotherapy market share, detailed drugs for immunotherapy market segments, market trends and opportunities, and any further data you may need to thrive in the drugs for immunotherapy industry. This drug for immunotherapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The drugs for immunotherapy market consist of sales of cytokines, CAR T-cell therapy, and cancer treatment vaccines. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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