The Cancer Immunotherapy Market is estimated to grow at a CAGR of 14.7% and would reach a market size equivalent to $152.6 billion by 2028. Cancer immunotherapy is a cancer treatment option that follows an approach to enhance the body’s immune system, which in turn allows it to fight cancer. Some of the common forms of cancer immunotherapy types are monoclonal antibodies, immunomodulators, cancer vaccines, oncolytic viral therapies and cell therapy. This form of treatment is highly preferable due to long-term cancer protection with low side effects and the probability to treat higher forms of cancer types.

Cancer Immunotherapy Market Drivers

The Rise in Geriatric Population Across the Globe:

The geriatric population across the world is on a rise, which substantially aids in the deployment of Cancer Immunotherapy treatment options. Owing to the higher risk of mortality from surgery in old age, immunotherapy as a treatment option provides efficient results to the said age group. As per Cancer.Gov, the incidence of cancer climbs from 25 per 100,000 people under 20 years to more than 1000 per 100,000 in people over the age of 60.

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Growing Prevalence of Cancer Types with High Awareness for Immunotherapy as a Treatment Option:

Cancer cases around the globe have been growing aggressively, specifically in low- and middle-income countries. As per GLOBOCON 2020, 2.21 million cases of lung cancer were diagnosed and nearly 1.09 million cases of stomach cancer were diagnosed. Furthermore, immunotherapy as a treatment option is gaining high credibility due to low risk and comparatively better results. Lastly, around 13 antibody therapeutical drugs were granted approval for cancer treatment between 2019 and 2021 in the EU and the U.S.

Approval and Collaboration

In February 2022, BioNTech and MEDIGENE announced a global collaboration to advance T-Cell Receptor immunotherapies against Cancer. In October 2022, the FDA approved a new immunotherapy drug for advanced liver cancer known as IMJUDO. The drug would be used in conjunction with adults suffering from HCC or Hepatocellular Carcinoma Market.

Major Players in the Market:

The major players in the Cancer Immunotherapy market include Pfizer Inc, Astra Zeneca, Merck and Co, F-Hoffman-La-Roche, Bristol Myers Squibb Company, Novartis AG, Lily, Johnson and Johnson, Immunocore and BioNTech.

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