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The global immuno-oncology drugs market, valued at USD 80.82 billion in 2024, is projected to reach USD 97.52 billion in 2025 and USD 442.26 billion by 2035, representing a CAGR of 16.3% during the forecast period.
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Immuno-oncology drugs (IO Drugs) industry is gaining traction driven by the rising demand for immune based therapies to treat cancer. It is worth mentioning that cancer has been a major concern across the globe. According to the latest report published by the American Cancer Society, approximately 6,18,000 people are expected to die due to cancer in 2025. Currently, healthcare practitioners are leveraging conventional chemotherapies and conventional drugs that poses several side effects and less efficacy.
Considering the ongoing concerns, pharmaceutical industries increase their focus on the development of immuno-oncology drugs. These drugs harness the patient’s own immune system to treat cancer, offering more precise and targeted approach to overcome the side effects. It is worth noting that several immuno-oncology drugs have been approved by the USFDA to treat cancer patients. For instance, in March 2025, Imfinzi® (durvalumab) developed by AstraZeneca in combination with cisplatin and gemcitabine as neoadjuvant treatment for adults with muscle invasive bladder cancer.
The approval of Imfinzi® offer remarkable opportunities for industrial players to develop novel immuno-oncology drugs to target wide range of cancer. Additionally, several market players are leveraging strategic partnerships to accelerate the development of immuno-oncology drugs. For instance, in February 2025, AbbVie and Xilio Therapeutics announced a strategic collaboration and option-to-license agreement for the development of novel tumor-activated, antibody-based immunotherapies and masked T-cell engagers by using Xilio’s proprietary technology.
Driven by the ongoing initiatives and accelerated approval, we believe that immuno-oncology drugs market will continue to grow at a steady pace during the forecast period.
The market report provides comprehensive information on industrial players who are currently active across various segments of the industry as mentioned in the table below.
| Key Report Attributes | Details | |
| Historical Trend | Since 2020 | |
| Forecast Period | Till 2035 | |
| Market Size 2025 | USD 97.52 Billion | |
| Market Size 2035 | USD 442.26 Billion | |
| CAGR (Till 2035) | 16.3% | |
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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 immuno-oncology drugs 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 market analysis report also features the likely distribution of the current and forecasted opportunity within the market across various segments, such as type of drug (immune checkpoint inhibitors, immune system modulators, monoclonal antibodies, cancer vaccines and others), mode of action (immune checkpoint blockade, immune stimulants, cellular immunotherapy, targeted therapy and regulatory T-cell modulators), route of administration (intravenous (IV), subcutaneous, oral, intramuscular and intralesional), therapeutic area (melanoma, lung cancer, blood cancer, renal cell carcinoma, bladder cancer, and other therapeutic applications), type of distribution channel (hospital pharmacies, retail pharmacies and online pharmacies), end users (hospitals, clinics, ambulatory surgical centers and other end users), geographical regions (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 immuno-oncology drugs 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 drug, the global market is segmented into immune checkpoint inhibitors, immune system modulators, monoclonal antibodies, cancer vaccines and others. Currently, the immune checkpoint inhibitors market segment captures the highest share (50%) of the immuno-oncology drugs market. This can be attributed to the fact that checkpoint inhibitors offer response for longer duration and enhance anti-tumor response, making it ideal for cancer treatment. Additionally, the successful outcomes of immune checkpoint inhibitors, such as Opdivo during clinical trials for renal cell carcinoma, melanoma and lung cancer has further enhanced its acceptance across physicians.
However, in the long run, monoclonal antibodies segment is anticipated to witness a substantial CAGR in the upcoming years. Monoclonal antibodies based therapies, such as rituximab (Mabthera®) and cetuximab (Erbitux®) are widely used for the treatment of chronic lymphocytic leukemia, head and neck cancer. Additionally, the increasing research on wide range of monoclonal antibodies to treat cancer is likely to drive growth of this segment during the forecast period.
The global market is distributed across different modes of action, such as immune checkpoint blockade, immune stimulants, cellular immunotherapy, targeted therapy and regulatory T-cell modulators. According to immuno-oncology drugs market analysis, presently immune checkpoint blockade holds the largest share of the market. This can be attributed to the fact that immune checkpoint blockades show higher efficacy in targeting cancer cells.
Immune checkpoint blockades target the proteins that act as brakes on the immune system, thereby preventing it from targeting cancer cells and allowing T-cells to destroy cancer cells. It is worth mentioning that the immune checkpoint blockade segment will continue to grow at a higher CAGR during the forecast period.
Based on the route of administration, the global market is segmented into intravenous (IV), subcutaneous, oral, intramuscular and intralesional. Presently, the intravenous (IV) segment occupies the highest share of the immuno-oncology drugs market size. This can be attributed to the fact that intravenous methods can bypass the first-pass metabolism and ensure direct administration into the bloodstream for faster response. Driven by the preferred method, this segment is likely to grow at a steady CAGR during the forecast period.
This segment is further sub-divided based on therapeutic applications into melanoma, lung cancer, blood cancer, renal cell carcinoma, bladder cancer, and other therapeutic applications. According to our immuno-oncology drugs market analysis report, lung cancer holds majority of the market share (21%) driven by the increasing diagnosis at early stage and availability of targeted therapies to treat patients.
Furthermore, therapeutic drugs, such as nivolumab and pembrolizumab has shown higher efficacy in treating non-small cell lung cancer. Driven by the availability of therapeutic treatment, this segment is likely to maintain its dominance and is projected to grow at a higher CAGR during the forecast period.
The global market is further categorized across different types of distribution channels, such as hospital pharmacies, retail pharmacies and online pharmacies. Currently, hospital pharmacies hold the highest share (over 40%) of the market for immuno-oncology drugs and the trend of dominance is likely to remain unchanged during the forecast period. This can be attributed to the availability of specialized oncology pharmacists and hospitals that offer direct patient care that streamline the process of treatment outcomes while ensuring the complete safety of the patients. Driven by the preferences of hospitals, this segment will continue to grow at a higher CAGR during the forecast period.
Based on the end user, the global market is segmented into hospitals, clinics, ambulatory surgical centers and other end users. According to immuno-oncology drugs market report, presently the hospitals segment accounts for the largest share (55%) of the market driven by the requirement of specialized oncologist and advanced technological support for delivering immuno-oncology therapies. It is worth mentioning that this segment is likely to grow at a higher CAGR during the forecast period driven by the patient preferences and requirement of controlled conditions for delivering immunotherapies.
This segment highlights the distribution of market opportunities across geographical regions, including North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America. It is worth highlighting that currently North America captures majority (45%) of the global immuno-oncology drugs market share. This dominance is due to the growing incidence of cancer, rising research and development activities by industrial players established in this region.
Further, market for immuno-oncology drugs in Asia-Pacific is expected to grow at a faster CAGR during the forecast period. This can be attributed to the fact that Asian countries, including China, Japan, and India is witnessing a substantial increase in the incidence of cancer that necessitated the demand for advanced treatment approach to improve patient outcomes.
The “Immuno-Oncology Drugs Market: Industry Trends and Global Forecasts, till 2035” market report features an extensive study of the current market landscape, market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics, and future opportunities for immune-oncology drug developers. The market research report lays emphasis on the immuno-oncology drugs that are being developed. Key takeaways of the market report are briefly discussed below.
Currently, the global market landscape is witnessing the presence of a wide array of well-established and new entrants. Of these, well-established market players, such as AstraZeneca, AbbVie Pfizer, Novartis and Rocher are focusing on the development of target specific immuno-oncology drugs to treat different types of cancer.
In order to accelerate drug development, several industrial players are leveraging strategic partnerships. For instance, in October 2024, AbbVie and EvolveImmune (leading immuno-oncology drug manufacturing company) entered into a strategic collaboration and signed an option-to-license agreement to develop next-generation biotherapeutics for patients who have shown resistance to existing immunotherapies. Under this partnership, EvolveImmune’s proprietary T-cell engager platform will be utilized by AbbVie to develop antibody-based therapies integrated with T-cell therapy co-stimulation to treat hematologic malignancies. Driven by expanding partnerships, the market remains competitive throughout the projected period.
The global immuno-oncology drugs market is likely to be propelled by the rising incidence of cancer and increasing awareness about immunotherapies. It is worth mentioning that immune cells are integrated into cancer therapeutics, such as monoclonal antibodies, adoptive cells and checkpoint inhibitors to eliminate cancer cells.
Additionally, the increasing breakthrough innovations in immunotherapies to target cancerous cells is likely to be a key driver for the market. Development of combination therapies will also propel the market. One such example is use of CTLA-4 checkpoint inhibitors for advanced renal cell carcinoma treatment in combination with PD-1 inhibitor. Furthermore, the growing clinical pipeline of immuno-oncology drugs that are currently being evaluated across different stages further propel the market.
Despite of promising growth, the market for immuno-oncology drugs is witnessing several challenges that may restrain the progress. One of the potential challenges includes high cost associated with immune-oncology treatment and stringent guidelines. It is worth mentioning that the cost of infusing one dose of immunotherapy may range from USD 45,000 to USD 1,35,000. Thus, high cost of immuno-oncology drugs may hinder the acceptance across low to middle income countries.
Additionally, the stringent guidelines associated with research, development and approval of immuno-oncology drugs may create challenges for the market players.
Several trends that are driving the industry includes, increasing approval of IO drugs and rising partnerships between industrial players. It is worth mentioning that the FDA has approval multiple immuno-oncology drugs, including tarlatamab (Imdelltra®) to treat extensive-stage small cell lung cancer and cosibelimab (Unloxcyt®) for metastatic or locally advanced cutaneous squamous cell carcinoma. Driven by the growing approval, several market players have shown active interest in this field to develop novel immuno-oncology drugs.
Furthermore, increasing partnerships between industrial players to develop therapies based on immune cells. For instance, in January 2025, BioMed X announced a strategic collaboration with Daiichi Sankyo to initiate the development of novel cancer treatments using multi-specific biologics.
The global immuno-oncology drugs industry is expected to be valued at USD 97.52 billion in 2025 and is projected to reach USD 442.26 billion by 2035, representing a CAGR of 16.3% during the forecast period. Considering the rising concern of cancer, several top companies in immuno-oncology drugs are increasing research on advanced immuno-oncology based drugs, which is expected to drive the market at a steady pace. For instance, in December ESMO Immuno-Oncology Congress 2024 took place in Geneva, Switzerland and online. The event primarily focused on advanced educational program, development of immunotherapies and immuno-oncology drugs to cater diverse needs of cancer patients.
Examples of key players engaged in this domain (which have also been captured in this report) include AstraZeneca, Amgen, AbbVie, Bristol Myers Squibb Company, Bayer, Bluebird, Coloplast, Eli Lilly, Fresenius, Genentech, GSK, Ipsen, Johnson & Johnson, Merck, Novartis, Pfizer, Regeneron Pharmaceuticals, Roche and Sanofi. This market report includes an easily searchable excel database of all the companies focusing on the development of immuno-oncology drugs.
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 field of immuno-oncology drugs. We have outlined some of these recent initiatives below.