Published by Jessica Weisman-Pitts
Posted on February 28, 2025
The global immuno-oncology market is projected to reach a valuation of US$ 24.17 billion in 2024 and is expected to experience robust growth at a CAGR of 16.5% from 2024 to 2034. By the end of the forecast period, the market is anticipated to surpass US$ 111.64 billion.
The increasing global burden of cancer is driving the demand for advanced and effective treatment solutions. Immuno-oncology has emerged as a key therapeutic approach, offering innovative treatments to combat cancer more effectively. Early detection through preventive healthcare measures is further creating opportunities for immuno-oncology therapies.
Advancements in treatment methodologies are shaping the evolution of the immuno-oncology landscape. Emerging approaches such as tumor-infecting viruses and cytokine therapies are diversifying treatment options beyond traditional methods, strengthening the market’s growth potential. Positive patient outcomes and increasing adoption of these therapies are further reinforcing market expansion.
Regulatory support is also playing a crucial role in market development. In response to the rising cancer incidence and the need to reduce mortality rates, regulatory bodies such as the U.S. Food and Drug Administration (FDA) are accelerating the approval process for novel immuno-oncology drugs and treatment strategies. This rapid influx of new therapies is fueling market demand and expanding accessibility to advanced cancer treatments.
With continuous advancements and a strong regulatory push, the immuno-oncology market is set to witness unprecedented growth, revolutionizing cancer treatment worldwide.
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Key Drivers Behind the Global Surge in Immuno-Oncology Demand
Growing Confidence in the Immune System’s Role in Cancer Treatment
Immuno-oncology focuses on harnessing the body’s immune system to fight cancer cells, making it a pivotal advancement in cancer treatment. Increasing scientific evidence supporting the immune system’s ability to detect and eliminate cancer has strengthened confidence in immuno-oncology therapies. As a result, the market is witnessing greater acceptance among healthcare professionals and patients alike.
Integration of Immunotherapy with Traditional Cancer Treatments
Rather than competing with conventional cancer treatments like chemotherapy and radiation, immuno-oncology is increasingly being used in combination therapies. Many cancer cases require a multimodal treatment approach, where immunotherapy enhances the effectiveness of traditional treatments. This synergy is significantly bolstering demand and driving market expansion.
Continuous research and innovation in oncology are leading to new treatment protocols, where doctors leverage the best possible combination of therapies to improve patient outcomes. This approach is positioning immuno-oncology as a complementary and indispensable part of cancer treatment.
Challenges Hindering the Growth of the Immuno-Oncology Market
High Treatment Costs and Manufacturing Constraints
Cancer treatments, including immuno-oncology, are often expensive, making them inaccessible to a large segment of the population. The high costs associated with drug development, clinical trials, and manufacturing limit widespread adoption.
Additionally, while the immuno-oncology field is evolving rapidly, manufacturers face significant challenges in sourcing raw materials and scaling production. The healthcare sector’s infrastructure sometimes struggles to keep pace with rapid advancements, leading to potential delays in drug availability.
Despite these challenges, the overall outlook for the immuno-oncology market remains highly promising, with continued research, regulatory support, and technological advancements expected to drive further growth.
Key Companies Profiled
Country-wise Market Insights:
North America: The Global Leader in Immuno-oncology
North America continues to dominate the global immuno-oncology market, with strong research infrastructure, regulatory support, and high adoption of innovative cancer therapies. In 2024, the region is expected to hold a 71.0% market share, valued at US$ 17.16 billion.
Although North America’s share in the global market is expected to decline, it will remain the largest and most influential region in the industry. The market is set to grow at a CAGR of 13.9%, reaching US$ 62.97 billion by 2034, with a market share of 56.4%.
Category-wise Market Insights:
Dominance of Immune Checkpoint Inhibitors in Immuno-oncology
Based on therapy type, immune checkpoint inhibitors dominate the market, accounting for an overwhelming 91.4% of the market share in 2024. Immune system modulators hold a distant second place, contributing 3.8%.
In terms of therapeutic areas, melanoma leads the market with an estimated 36.9% share in 2024, followed closely by lung cancer at 31.7%.
Why are Immune Checkpoint Inhibitors the Leading Therapy in Immuno-oncology?
Strong Clinical Efficacy Driving Physician Preference
Immune checkpoint inhibitors have emerged as the most widely used immuno-oncology therapy due to their proven efficacy in treating various cancers. In 2024, they are expected to capture 91.4% of the market, with a projected CAGR of 16.8% over the forecast period.
By 2034, checkpoint inhibitors are anticipated to expand their market share even further, reaching 93.7%, solidifying their position as the cornerstone of immuno-oncology treatments.
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Industry News:
In December 2023, Elpiscience Biopharma signed an agreement with Astellas Pharma. The companies will jointly carry out research programs on cancer treatment, with Elpiscience in for monetary rewards of over US$ 1.7 billion in case milestones are met.
In September 2023, South Korean player GI Innovation inked a deal with American clinical trial data solution provider Medidata Solutions. The South Korean company hopes to leverage the American’s AI and big data capabilities for the development of two new drugs- GI-101 and GI-102.
In May 2023, American startup KSQ Therapeutics and Japanese enterprise Takeda expanded the scope of their partnership. KSQ Therapeutics increased its investment in the Japanese player, with further monetary rewards should their common targets be met.
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