According to Vision Research Reports, the global immunotherapy drugs market size was valued at USD 239.21 billion in 2023 and it is projected to hit around USD 1,063.44 billion by 2032, growing at a CAGR of 18.03% from 2023 to 2032.
According to Vision Research Reports, the global immunotherapy drugs market size was valued at USD 239.21 billion in 2023 and it is projected to hit around USD 1,063.44 billion by 2032, growing at a CAGR of 18.03% from 2023 to 2032. Immunotherapy drugs are medications that work by harnessing the body's own immune system to fight diseases such as cancer, autoimmune disorders, and infectious diseases. These drugs stimulate or enhance the immune response to target and destroy abnormal cells or pathogens.
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Report Highlights
- The cancer segment accounted for the largest revenue share of more than 91.30% in 2023.
- The autoimmune diseases segment is anticipated to register the fastest growth rate during the forecast period.
- The monoclonal antibodies segment accounted for the largest share of more than 76.60% in 2023.
- The vaccines segment is expected to register the fastest CAGR during the forecast period.
- North America dominated the global industry in 2023 and accounted for the largest share of more than 45.10% of the overall revenue.
- Japan is expected to witness a significant CAGR during the forecast period.
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Growth Factors
The key factors contributing to the lucrative growth of the industry include increased awareness about chronic diseases including cancer, autoimmune diseases, inflammatory diseases, and infectious diseases, coupled with supportive government policies for drug approval. The rising adoption of targeted therapies for chronic disease treatment is expected to increase inclination toward immunotherapy drugs, thereby driving the industry during the forecast period.
For instance, in May 2022, AstraZeneca and Daiichi Sankyo’s Enhertu (trastuzumab) received U.S. approval for treating HER2-positive breast cancer. Other targeted immunotherapy drugs include Kadcyla (trastuzumab emtansine) and Tecentriq (atezolizumab). In June 2022, F. Hoffmann-La Roche Ltd. received EU approval for Tecentriq as an adjuvant treatment for NSCLC. In addition, developing healthcare infrastructure in low- and middle-income countries coupled with increased research & development by key players is anticipated to contribute to the industry growth. For instance, in December 2021, Novartis AG collaborated with BeiGene, Ltd. for ociperlimab (BGB-A1217), therefore expanding its R&D activities in immune-oncology.
In August 2022, Pfizer, Inc. shared positive results from phase 2b/3 clinical trial of ritlecitinib for treating alopecia areata. Moreover, the rise in the incidence of cancer cases worldwide is expected to drive the demand for immunotherapy drugs. As per Globocan reports, an estimated 19.3 million new oncology cases were diagnosed in 2020. Moreover, according to the European Society of Medical Oncology, cancer incidence in Europe is anticipated to rise by 21% between 2020 and 2040. Thus, approvals of various immunotherapy drugs for cancer treatment are predicted to increase industry growth.
Importance of Immunotherapy Drugs Market:
- Targeted Treatment: They can specifically target diseased cells or pathogens while sparing healthy cells, reducing the risk of side effects associated with traditional treatments like chemotherapy or radiation.
- Effective Against Resistant Tumors: Immunotherapy drugs have shown effectiveness against certain types of cancer that may be resistant to other treatments, providing new options for patients with limited treatment options.
- Long-Term Response: In some cases, immunotherapy can lead to long-lasting remissions or even cures, as the immune system may continue to recognize and attack cancer cells even after treatment has ended.
- Treatment for Multiple Cancers: Immunotherapy drugs have been approved for use in various types of cancer, offering a broad spectrum of treatment options for patients with different cancer types.
- Reduced Toxicity: Compared to traditional cancer treatments, immunotherapy drugs often have fewer severe side effects, improving the quality of life for patients undergoing treatment.
- Combination Therapies: Immunotherapy drugs can be used in combination with other treatments, such as chemotherapy or targeted therapy, to enhance their effectiveness and provide synergistic benefits.
- Potential for Personalized Medicine: Immunotherapy drugs can be tailored to individual patients based on their immune profiles and the specific characteristics of their disease, leading to more personalized and precise treatment approaches.
Indication Insights
On the basis of drug types, the industry has been further categorized into cancer, autoimmune diseases, infectious diseases, and others. The cancer segment accounted for the largest revenue share of more than 91.30% in 2023 owing to the increased prevalence of cancer, coupled with a rise in the launch of cancer immunotherapies. As per Globocan 2020, breast cancer and lung cancer are the two most predominant cancers with a prevalence of approximately 11.7% and 11.4%. Moreover, in April 2021, the FDA approved Opdivo (nivolumab) in combination with chemotherapy for patients with gastric cancer.
On the other hand, the autoimmune diseases segment is anticipated to register the fastest growth rate during the forecast period. The growth of this segment can be attributed to the increasing cases of autoimmune diseases across the globe and regional approvals of immunotherapy drugs. As per NCBI research, the estimated global prevalence of rheumatoid arthritis is around 0.46% of the global population. Moreover, GSK’s Benlysta (belimumab) received China’s National Medical Products Administration approval for the treatment of active lupus nephritis in February 2022.
Drug Type Insights
On the basis of drug types, the industry has been further divided into monoclonal antibodies, immunomodulators, and vaccines. The monoclonal antibodies segment accounted for the largest share of more than 76.60% in 2022 owing to increased R&D in therapeutic monoclonal antibodies coupled with supportive government initiatives. For instance, in May 2022, the U.S. FDA accepted the supplemental Biologics License Application for priority review of Dupixent (dupilumab) indicated for treating prurigo nodularis. The vaccines segment is expected to register the fastest CAGR during the forecast period.
The growth of this segment is attributed to strategic collaborations among key players and an increase in clinical trials for vaccine development. For instance, in January 2022, Pfizer Inc. and BioNTech SE entered a strategic collaboration to develop an mRNA-based vaccine to prevent shingles. Under this agreement, BioNTech’s mRNA platform technology and Pfizer’s antigen technology will be utilized. In addition, in March 2022, the National Institute of Health launched a Phase 1 trial of three investigational HIV mRNA-based vaccines.
Regional Insights
North America dominated the global industry in 2023 and accounted for the largest share of more than 45.10% of the overall revenue. The launch and regulatory approval of new immunotherapy drugs and favorable reimbursement policies are projected to aid in the region’s growth. For instance, Keytruda, Merck’s anti-PD-1 therapy, was approved by the FDA in October 2021, in combination with chemotherapy for cervical cancer treatment. Moreover, in August 2021, Opdivo (nivolumab) manufactured by Bristol Myers Squibb Co. received FDA approval for the treatment of urothelial carcinoma.
The Centers for Medicare & Medicaid Services provides reimbursement for hospital inpatient treatment with chimeric antigen receptor T-cell therapy. Japan is expected to witness a significant CAGR during the forecast period. The increasing prevalence of cancer in Japan, rising geriatric population, increasing investments in medical research, and well-developed healthcare infrastructure, are some of the major factors boosting the region’s growth. According to the GLOBOCAN report, in 2020, around 27,10,728 people were suffering from cancer in Japan, with about 10,28,658 newly diagnosed cancer cases. Thus, the demand for advanced immunotherapies is expected to be high in this region.
Key Players
- Amgen, Inc.
- Novartis AG
- AbbVie, Inc.
- Pfizer, Inc.
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson Services, Inc.
- AstraZeneca
- GSK
- Sanofi
- Bayer AG
Market Segmentation
By Drug Type
- Monoclonal Antibodies
- Immunomodulators
- Vaccines
By Indication
- Cancer
- Autoimmune Diseases
- Infectious Diseases
- Others
By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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