Global Immuno Oncology Market Size To Grow USD 154.57 Billion by 2030 | CAGR of 22.9%

 Global immuno-oncology market predicted to exceed $154.57 billion by 2030

According to a research report published by Spherical Insights & Consulting, the global immuno-oncology market size is expected to grow from USD 26.9 billion in 2021 to USD 154.57 billion by 2030, at a compound annual growth rate (CAGR) of 22.9% during the forecast period. The immuno-oncology market is driven by increasing investments in research and development of cancer treatments by governments and several pharmaceutical companies during the forecast period.

 See 200 pages of key industry insights with 120 market data tables and figures from the " Global Immuno-Oncology Market Size, Share, COVID-19 Impact Analysis, By Type (Immune Cell Therapy (CAR-T), Monoclonal Antibodies, Checkpoint Inhibitors, Cytokines, Cancer Vaccines, Others), By Indication (Malignant Tumors, Benign Tumors, Others), By End User (Hospitals, Specialty Clinics, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Analysis and Forecast 2021-2030" report. 

For a detailed report please visit:  https://www.sphericalinsights.com/reports/immuno-oncology-market

The research and development of treatments that utilize the body's immune system to prevent, control, and eliminate cancer is immuno-oncology, also known as cancer immunotherapy. This developmental therapy harnesses the body's immune response, both innate and adaptive, to target cancer cells. This therapy utilizes molecules produced in the body or in a laboratory to boost the immune system to detect and destroy cancer cells. Previously, conventional chemotherapy was used as an alternative to immuno-oncology therapy. Immuno-oncology therapy will drive the growth of the immuno-oncology market during the forecast period.

According to the Cancer Research Institute, the number of active drugs in immuno-oncology, which vary across multiple immunotherapy approaches, has increased by 67% in a year, as evidenced by the natural review of drug discovery. According to industry analysis, the increase in demand for immuno-oncology treatments is driven by changing market trends and is expected to support industry growth and market growth during the forecast period. In the development of thematic research in immuno-oncology, the most important drug is to provide information on the classification of treatments and technologies, regulatory authorities, market access details, product and company profiles.

Owing to the increasing number of cancer patients, the global immuno-oncology market is expected to reach a sizeable market size. The growing number of cancer patients across the globe is fuelling the enormous demand for immuno-oncology treatments. R&D funds are being heavily invested in the fight against cancer, especially precision medicine. Cancer treatment will certainly include a combination of immunotherapy and personalized therapy in the future.

Rising healthcare costs can pose serious challenges to the growth of the market. Lack of affordable medicines is affecting the health of people in developing countries, reducing their life expectancy. Higher cost compared to radiation and chemotherapy, along with various challenges in clinical trials, are expected to restrain the growth of the immuno-oncology industry over the forecast period.

Impact of COVID-19

Due to the COVID-19 pandemic, the market has been adversely affected by shortages and irregular supply of cancer immunotherapy products. This may allow local manufacturers to expand their presence in the market. Moreover, some biopharmaceutical companies such as Merck & Co. Inc. and Eli Lilly and Company have declared delays in clinical trials. For example, in March and April 2020, more than 200 interventional oncology studies were suspended as a result of the COVID-19 pandemic, according to clinical trial government data. Also, 60% of institutions in the US and 86% of institutions in Europe are enrolling new patients at a lower rate. Across the world, companies are focusing on developing drugs and vaccines, especially immunotherapy-based drugs for COVID-19. This is because immunotherapy is highly effective as it stimulates the patient's immune system. This is expected to have a short-term impact on the market growth.

Checkpoint inhibitors will dominate the market during the forecast period.

Based on type, the global immuno-oncology market is classified into immune cell therapy (CAR-T), monoclonal antibodies, checkpoint inhibitors, cytokines, cancer vaccines, and others. Of these, checkpoint inhibitors will impact the market with the largest market share during the forecast period. Checkpoint inhibitors captured the largest market share in 2021. Checkpoint inhibitors are produced by various stem cells such as T cells and cancer cells. These inhibitors block checkpoint proteins from binding with companion proteins, allowing T cells to destroy cancer cells. Checkpoint inhibitors are further divided into CTLA-4, PD-1, and PD-L1. Of these, CTLA-4 and PD-1 occur mainly in T cells, while PD-L1 occurs in cancer cells. The drugs nivolumab and pembrolizumab are most commonly used to prevent PD-1. Pembrolizumab is used to treat various types of cancer such as melanoma skin cancer, Hodgkin's lymphoma, and non-small cell lung cancer, as well as some kidney, head, neck, and urinary tract cancers.

Quality products are expected to hold the largest market share during the forecast period

Based on indication, immuno-oncology is classified into malignant tumors, benign tumors, and others. Of these, the benign segment maintained the largest market share growth during the forecast period. Benign tumors grow slowly, do not spread easily, and can become quite large without affecting nearby tissues or spreading to other parts of the body. Examples of benign tumors include fibromas of the uterus and lipomas of the skin. Benign tumors can cause severe pain and other complications when they compress nerves and blood vessels and can cause overproduction of hormones in the endocrine system.

North America will dominate the market during the forecast period

North America is expected to maintain its dominance during the forecast period owing to the growing geriatric population and developed healthcare infrastructure. Rising cancer cases in North America, owing to the presence of major market players, are expected to create opportunities for market growth during the forecast period. The immuno-oncology market in North America is dominated by rising incidence of diseases.

Asia Pacific is expected to witness the highest growth rate during the forecast period owing to the increasing adoption of cancer immunotherapy in terms of cost.The Asia Pacific region will drive the growth of the global market due to factors such as strengthening healthcare infrastructure, increasing disposable income, and rising patient awareness.

Key vendors in the global immuno-oncology market include AstraZeneca, Gilead Sciences, Bristol-Myers Squibb, Sanofi, Biogen, Abbott Laboratories, Pfizer, Amgen, Novo Nordisk, Merck, Johnson & Johnson Services, Novartis, Hoffman, La Roche, Lonza, Celgene, Promega Corporation (US), Sysmex, Olympus, Takara Holdings, Tosoh, and Ortho Clinical Diagnostics.

Main target audience

• Market Players
• End-users
• Government Authorities 
• Investors
• Consulting and research firms
• Venture capitalist
• Value Added Resellers (VARs)

Recent Developments

• In June 2021, GlaxoSmithKline and Aiteos Therapeutics announced that they had accepted to co-develop and co-commercialize EOS-448, an anti-TIGIT monoclonal antibody currently in Phase I development as a potential treatment for patients with cancer. The collaboration will provide GSK with access to antibodies that mutually target all three known CD226 checkpoints (TIGIT, CD96 and PVRIG).

Market Segments

The study forecasts revenue at global, regional and country levels from 2019 to 2030. Spherical Insights segments the global immuno-oncology market based on the following segments:

Global Immuno-Oncology Market, by Type

• Immune Cell Therapy (CAR-T)
•  Monoclonal antibodies
•  Checkpoint inhibitors
•  Cytokines,
•  Cancer Vaccines
•  others

Global Immuno-Oncology Market, by Indication

• Malignant tumor
• Benign tumors
• others

Global Immuno-Oncology Market, by End User

• hospital
•  Specialized Clinic
•  others

Global Immuno-Oncology Market, Regional Analysis

• North America
  • we
  • Canada
  • Mexico
• Europe
  • Germany
  • England
  • France
  • Italy
  • Spain
  • Russia
  • Other Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• south america
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • United Arab Emirates
  • Saudi Arabia
  • Qatar
  • South Africa
  • Other Middle East and Africa
  • Saudi Arabia
  • Qatar
  • South Africa
  • Other Middle East and Africa

About Spherical Insight & Consulting

Spherical Insights  & Consulting  is a market research and consulting firm that delivers actionable market research studies, quantitative forecasts, trend analysis, providing forward-looking insights specifically designed for decision makers to help with ROI.

They serve a variety of industries including the financial sector, industrial sector, government agencies, universities, non-profit organizations, and corporations. Their mission is to partner with companies to achieve their business goals and sustain strategic improvement. 

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