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

 The global immuno-oncology market is projected to exceed USD 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 US$ 26.9 billion in 2021 to US$ 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 rising investments in research and development of cancer treatments by governments and several pharmaceutical companies during the forecast period.

 Explore 200 pages of key industry insights with 120 tables and figures of market data from the report " Global Immuno-Oncology Market Size and Share, COVID-19 impact analysis by type (immune cell therapy (CAR-T), monoclonal antibodies, checkpoint inhibitors, cytokines, cancer vaccines and others), by indication (malignant tumors, benign tumors and others), by end user (hospitals, specialty clinics and others), by region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), analysis and forecast for 2021-2030." 

The detailed report can be found at:  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 utilizes the body’s immune response, both innate and adaptive, to target cancer cells. This therapy uses molecules produced in the body or in the lab to enhance 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% year-on-year, as evidenced by the natural drug discovery review. According to the industry analysis, the growth in demand for immuno-oncology therapies is driven by changing market trends and is expected to support the industry and market growth over the forecast period. While developing case studies in immuno-oncology, the most important drug is to provide information on the classification of therapies and technologies, regulatory authorities, market access details, product and company profiles.

With the increasing number of cancer patients, the global immuno-oncology market is expected to reach a significant size. The increasing number of cancer patients worldwide is fueling a huge demand for immuno-oncology treatments. R&D funds are investing heavily in the fight against cancer, especially in precision medicine. Cancer treatment will certainly include a combination of immunotherapy and personalized therapy in the future.

Rising healthcare costs are likely to pose a major challenge to the market growth. Lack of affordable drugs is affecting the health of people in developing countries, reducing their life expectancy. Higher costs compared to radiation and chemotherapy, and various challenges in clinical trials are expected to restrain the growth of the immuno-oncology industry during the forecast period.

Impact of COVID-19

Due to the COVID-19 pandemic, the market has been affected by shortages and irregular supplies of cancer immunotherapy drugs. 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 announced delays in clinical trials. For example, in March and April 2020, more than 200 interventional oncology studies were paused due to the COVID-19 pandemic, according to government clinical trial data. In addition, 60% of institutions in the US and 86% of institutions in Europe are recruiting new patients at a slower rate. Globally, companies are focusing on developing drugs and vaccines, especially immunotherapy-based drugs for COVID-19. This is because immunotherapy is very 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 highest market share during the forecast period. Checkpoint inhibitors have 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 the binding of checkpoint proteins to their companion proteins, allowing T cells to kill cancer cells. Checkpoint inhibitors are further divided into CTLA-4, PD-1, and PD-L1. Of these, CTLA-4 and PD-1 are found mainly in T cells, whereas PD-L1 is found in cancer cells. The drugs nivolumab and pembrolizumab are most often used to prevent PD-1. Pembrolizumab is used to treat various types of cancer, such as skin melanoma, Hodgkin lymphoma, and non-small cell lung cancer, as well as some types of kidney, head, neck, and urinary tract cancer.

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

Based on the indication, immuno-oncology is classified into malignant tumors, benign tumors, and others. Of these, the benign tumor segment maintained the highest 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 uterine fibroids and skin lipomas. Benign tumors can cause severe pain and other complications when they compress nerves and blood vessels, and can also 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 due to the growing geriatric population and advanced healthcare infrastructure. The rising incidence of cancer in North America due to the presence of major players in the market is expected to create opportunities for the market growth during the forecast period. The immuno-oncology market in North America is dominated by the rising incidence of the disease.

The Asia Pacific region is expected to witness the highest growth rate during the forecast period due to the increasing adoption of cancer immunotherapy in terms of costs. 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 suppliers 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 (USA), Sysmex, Olympus, Takara Holdings, Tosoh and Ortho Clinical Diagnostics.

Main target audience

• Market participants
• End users
• Government authorities 
• Investors
• Consulting and research firms
• Venture capitalist
• Value Added Resellers (VAR)

Latest events

• In June 2021, GlaxoSmithKline and Aiteos Therapeutics announced that they had agreed to co-develop and co-commercialise 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 the 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

• Immunocellular therapy (CAR-T)
•  Monoclonal antibodies
•  Checkpoint inhibitors
•  Cytokines,
•  Cancer vaccines
•  other

Global Immuno-Oncology Market by Indication

• Malignant tumor
• Benign tumors
• other

Global Immuno-Oncology Market by End User

• hospital
•  Specialized clinic
•  other

Global Immuno-Oncology Market, Regional Analysis

• North America
  • We
  • Canada
  • Mexico
• Europe
  • Germany
  • England
  • France
  • Italy
  • Spain
  • Russia
  • Another Europe
• Asia Pacific Region
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • The rest of South America
• Middle East and Africa
  • United Arab Emirates
  • Saudi Arabia
  • Line up
  • South Africa
  • Other countries in the Middle East and Africa
  • Saudi Arabia
  • Line up
  • South Africa
  • Other countries in the Middle East and Africa

About Spherical Insight & Consulting

Spherical Insights  & Consulting  is a market research and consulting firm that provides actionable market research, quantitative forecasts, trend analysis, and delivers forward-looking insights tailored to decision makers to improve 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 support strategic improvement. 

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