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The global cancer immunotherapy market, valued at USD 134.40 billion in 2024, is expected to grow to USD 148.73 billion in 2025 and USD 346.63 billion by 2035, anticipated to grow at a CAGR of 8.8% during the forecast period.
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Cancer immunotherapy is a form of therapeutic area that utilizes the body’s immune system to identify and target cancer cells. It is important to highlight here that cancer has been a major cause of concern for healthcare professionals. A recent study published in National Institute of Health, in 2025, around 2,041,910 new cancer cases and nearly 618,120 cancer deaths are projected to occur in the US. Healthcare experts presently use chemotherapies and radiation therapies to treat a wide range of cancers.
These conventionally available cancer treatment poses a risk of side effects such as nausea, hair loss and severe nerve damage. In addition, the limited therapeutic effects have necessitated the demand for advanced cancer treatment. In this instance, cancer immunotherapy emerged as a potential targeted therapy that helps to fight cancerous cells. Unlike conventionally available treatment, cancer immunotherapy offers high target specificity to recognize and target cancerous cells. Moreover, cancer immunotherapies have shown higher effectiveness in treating patients who have become resistant to chemotherapies.
It is interesting to highlight here that several cancer immunotherapies have received approval from the FDA. For instance, in December 2024, AstraZeneca Imfinzi® (durvalumab) received approval from the FDA in the US for the treatment of adult patients with limited-stage small cell lung cancer.
The approval has been provided by the FDA after security Priority Review and Breakthrough Therapy Designation.
With growing approval from the FDA, several industrial players and cancer research institutes have shown keen interest in the research and development of cancer immunotherapies. For instance, in August 2024, the Cancer Research Institute awarded over USD 22 million to leading cancer immunotherapy researchers, accounting for 64 awards to 42 institutions to enhance research on cancer immunotherapies. Driven by the ongoing initiatives in this field, we believe that the market for cancer immunotherapy will remain progressive and investible during the forecast period.
The market report provides in-depth information on the industrial players who are presently active across various segments of the cancer immunotherapy industry as mentioned in the table below.
| Key Report Attributes | Details | |
| Historical Trend | Since 2019 | |
| Forecast Period | Till 2035 | |
| Current Market Size | USD 148.73 billion | |
| Market Size 2035 | USD 346.63 Billion | |
| CAGR (Till 2035) | 8.8% | |
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| PowerPoint Presentation (Complimentary) |
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| Customization Scope | 15% Free Customization | |
| Excel Data Packs (Complimentary) |
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One of the key objectives of the cancer immunotherapy market report was to estimate the current size, opportunity and the market growth potential, over the forecast period, till 2035. We have provided informed estimates on the likely evolution of the market for the forecast period.
The global cancer immunotherapy analysis report also features the likely distribution of the current and forecasted opportunity within the market across various segments, such as type of product (checkpoint inhibitors, cell therapies, cancer vaccines, immunomodulators, monoclonal antibodies, and oncolytic viral therapies), application (lung cancer, breast cancer, colorectal cancer, melanoma, prostate cancer, head & neck cancer, ovarian cancer, pancreatic cancer and other applications), route of administration (intravenous (IV), intramuscular, and oral), mechanism of action (immune checkpoint inhibitors, tumor antigen targeted therapy, cell signaling modulators and immune modulators), distribution channel (hospital pharmacies, retail pharmacies and online pharmacies), end user (hospitals, & clinics, cancer research centers and other end users), geographical region (North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America) and leading players.
In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of industry’s evolution.
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. The financial figures mentioned in this market report are in USD, unless otherwise specified.
Based on the type of product, the global market for cancer immunotherapy is segmented into immune checkpoint inhibitors, cell therapies, cancer vaccines, immunomodulators, monoclonal antibodies and oncolytic viral therapies. According to our projection, currently monoclonal antibodies segment is dominating the industry and accounting for the highest share (nearly 60%) of the overall market. This can be attributed to the growing usage of monoclonal antibodies, such as bispecific antibodies for treating cancer patients. It is worth noting that monoclonal antibodies have shown high potential in triggering immune system response to destroy cancerous cells. Owing to the higher efficacy, researchers are exploring next generation monoclonal antibodies with adaptive immunity and antigen specificity to target cancer, which further contributed to the highest share of this segment.
However, it is expected that oncolytic viral therapies and cancer vaccines (a part of the therapeutic vaccines market) segments are likely to register a higher CAGR during the forecast period. This is primarily due to the growing research on oncolytic viral therapies and cancer vaccines to treat wide range of cancer. For instance, in September 2024, Phase 1 trial (first-in-human study of the mRNA cancer immunotherapy (mRNA-4359)) has shown promising outcome in patients with advanced solid cancers. The results has been published by the scientists of UK Chief Investigator of the trial from King’s College London and Guy’s and St Thomas’ NHS Foundation Trust at the European Society of Medical Oncology conference in Barcelona.
This segment highlights the distribution of global cancer immunotherapy market based on the type of application into breast cancer, colorectal cancer, head & neck cancer, lung cancer, melanoma, ovarian cancer, prostate cancer, pancreatic cancer and other applications. Among these, lung cancer presently holds the highest share of the market. This highest share is due to the growing incidence of lung malignancies and rising awareness about significances of immunotherapy. A number of blockbuster drugs are approved for lung cancer including Keytruda, Opdivo, Imfinzi, Tecentriq and Imdelltra. Additionally, the growing pipeline of immunotherapies for targeting metastatic non-small cell lung cancer has contributed to the highest share of this segment.
However, in the long run, breast cancer segment is expected to grow at a substantial CAGR during the forecast period. This is primarily due to the expanding research on breast cancer and advanced immunotherapies to treat breast malignancies.
The global market is further categorized based on route of administration into intravenous (IV), intramuscular, and oral. According to our cancer immunotherapy market analysis, the oral segment currently accounts for the highest share (nearly 50%) of the market. This can be attributed to the growing preferences for oral therapeutics for self-administration by the patients. However, it is important to highlight here that this segment will continue to remain dominant and is expected to grow at a higher CAGR during the forecast period. This can be attributed to the rising demand for non-invasive therapeutic procedures for the treatment of cancer.
Based on the mechanism of action, the global cancer immunotherapy market report is bifurcated into immune checkpoint inhibitors, tumor antigen targeted therapy, cell signaling modulators and immune modulators. According to our projection, presently, immune checkpoint inhibitors currently hold the highest share of the market. Immune checkpoint inhibitors play a significant role in enhancing immune response to cancer cells. However, in the long run, it is expected that immune modulators segment will register a higher CAGR during the forecast period. This can be attributed to the fact that immune modulators have the ability to modify the immune response pathways to target cancerous cells.
The global cancer immunotherapy market is categorized across different types of distribution channels, such as hospital pharmacies, retail pharmacies and online pharmacies. According to our market study, hospital pharmacies account for the largest share (nearly 55%) of the market. This dominance is due to the fact that hospitals are the primary distributors of cancer therapeutics to the wide pool of cancer patients in hospitals.
However, in the long run, online pharmacies segment is likely to grow at a higher CAGR during the forecast period. This is primarily due to the growing penetration of telemedicine to provide timely therapeutic intervention for patients with cancers.
Based on the end user, the global market is distributed across hospitals & clinics, cancer research centers and other end users. According to our cancer immunotherapy market analysis, hospitals & clinics currently occupy the highest share (nearly 70%) of the market. This can be attributed to the growing patient preferences of hospitals & clinics for cancer treatment and availability of advanced healthcare infrastructure and oncologists.
However, in the long run, cancer research centers’ segments is expected to grow at a higher CAGR during the forecast period. This is primarily due to rising research initiatives for the development of cancer treatment.
The global cancer immunotherapy market is distributed across different geographical regions, such as North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America. According to our projection, North America holds the largest share (nearly 45%) of the market. This can be attributed to the growing prevalence of cancer in this region and increasing healthcare expenditure to provide optimal treatment for cancer patients. Additionally, increasing strategic initiatives by industrial players to develop the next generation cancer immunotherapies has further contributed to the highest share of this region.
In Asia-Pacific, the market for cancer immunotherapy is likely to register a higher CAGR during the forecast period. Asian countries like India and China are increasingly taking initiatives to develop advanced immunotherapies-based cancer therapies to treat wide range of cancer. Additionally, the growing investments from the government organizations to support cancer research in this region have contributed to lucrative growth during the forecast period.
The “Cancer Immunotherapy Market: Industry Trends and Global Forecasts, till 2035”: research report features an extensive study of the focus on competitive landscape of strategic initiatives, emerging mega trends, big pharma initiatives, company profiles and key drivers and restraints. The market report highlights the efforts of several stakeholders engaged in this rapidly evolving segment of the biopharmaceutical industry. Key takeaways of the market report are briefly discussed below.
Currently, the market landscape for cancer immunotherapies seems highly competitive featuring the presence of several well-established and new entrants. These industrial players are actively conducting research on cancer therapeutics and expanding clinical pipelines for drug approval. In order to maintain a competitive edge, several industrial players are staking strategic initiatives such as drug development, partnerships and collaborations. For instance, in October 2024, AbbVie and EvolveImmune enter into a strategic collaboration and option-to-license agreement for the development of multispecific biologics or next generation biotherapeutics for multiple targets in oncology. Under this partnership, AbbVie will leverage EvolveImmune’s T-cell engager platform for the development of antibody-based therapies for solid malignancies.
Similar to AbbVie and EvolveImmune, numerous other industrial players are aiming to expand their research and development of advanced cancer immunotherapies, which is expected to maintain a high-level competitiveness in the market.
Some of the potential market drivers that are propelling cancer immunotherapy market growth include rising incidence of cancer across the globe and increasing preferences for targeted therapies. It is worth noting that with increasing prevalence of cancer, healthcare professionals are focusing on target specific therapies to eradicate cancerous cells. Cancer immunotherapy in this instance emerged as a robust solution to treat patients as it directs the immune response to target the cancer cells and eliminate them without impacting normal cells.
Owing to their advantages, the demand for cancer immunotherapies has increased significantly, which is anticipated to be a key growth factor for the market. Additionally, the growing demand for personalized and target specific therapeutics is driving the market over the forecast period.
Despite high demand, the market players are witnessing several challenges that may impede market growth. Some of the potential challenges in the cancer immunotherapy market are high cost associated with cancer immunotherapies, stringent guidelines for approval and tumor heterogeneity. It is important to highlight here that cancerous cells may acquire genetic mutations which result in clonal expansion and tumor heterogeneity. This tumor heterogeneity may impact the efficacy of immunotherapies, creating a challenge for the industrial players in developing therapeutics with higher efficacy. Additionally, the occurrence of immune associated adverse events / immune related adverse events may create a significant barrier for the widespread adoption of cancer immunotherapies for the treatment of cancer.
Some of the notable growth factors that are anticipated to drive the market include rising focus on the development of precise targeting therapies and adoptive cellular therapies. Further, researchers and industrial players are focusing on the development of immune checkpoint inhibitors that are specifically designed to maintain immune homeostasis and avoid autoimmunity. In addition to targeted therapies, the industrial players are leveraging technological innovations including AI in oncology for determining the cancer biomarkers that aid in the development of cancer immunotherapies. Furthermore, the market players are focusing on the development of combination therapies to increase efficacy and target specificity to eradicate cancerous cells.
Currently, the global cancer immunotherapy industry is estimated to be valued at USD 148.73 billion and is poised to reach USD 346.63 billion by 2035. This can be attributed to the growing prevalence of cancer worldwide and rising demand for advanced therapeutics. It is important to highlight here that several industrial players are entering into partnerships and collaborations to meet with growing demand for cancer immunotherapies. For instance, in August 2024, The University of Pennsylvania and the Parker Institute for Cancer Immunotherapy renewed their alliance agreement with an investment of USD 125 million to advance their cancer immunotherapy research at Penn Medicine’s Abramson Cancer Center. Driven by the ongoing strategic initiatives, we believe that the market will remain competitive and grow at a CAGR of 8.8% during the forecast period.
Examples of key players engaged in this cancer immunotherapy industry (which have also been captured in this report) include AstraZeneca, Amgen, Atara Biotherapeutics, AbbVie, Bayer, Bristol-Myers Squibb, Celldex Therapeutics, Cellectis, Gilead Sciences, GSK, Eli Lilly, Immunocore, Incyte, Janssen Pharmaceutical, Merck, Novartis, Pfizer and Roche. This market report includes an easily searchable excel database of all the companies focusing on advanced cancer immunotherapies.
The market report presents an in-depth analysis, highlighting the capabilities of various companies engaged in this domain across different segments. Amongst other elements, the market report includes:
Several recent developments have taken place in the cancer immunotherapy field. We have outlined some of these recent initiatives below.