Cancer Immunotherapy Market to Reach USD 110,125.4 Million in 2022 with a 7.51% CAGR

Strategic Insights -

The cancer immunotherapy market size is estimated to be USD 110,125.4 million in 2022, with a significant growth potential due to the surge in oncology incidence around the world and the rise in R&D efforts for novel oncology treatments. Top companies such as Novartis AG, Lilly, and AstraZeneca are implementing strategic measures to fuel market growth. However, adverse effects of immunotherapy may hinder the growth.

Key Takeaways:

  • The cancer immunotherapy market size is estimated to be USD 110,125.4 million in 2022, with a forecasted growth of 7.51% during 2023-2033.
  • Companies such as Novartis AG, Lilly, and AstraZeneca are implementing strategic measures to fuel market growth, including partnerships and collaborations.
  • The creation of new immunotherapies, research into extrachromosomal DNA, and analysis of early-stage cancers have been funded by organizations such as the U.S. National Cancer Institute and Cancer Research UK's Cancer Grand Challenges project.
  • Genmab A/S and BioNTech SE strengthened their partnership for the creation and introduction of novel immune treatments in August 2022.
  • Merck & Co., Inc. reported the approval of KEYTRUDA, an anti-PD-1 therapy for advanced endometrial cancer, in March 2022.
  • The market is segmented by product, distribution channel, application, end use, and region.
  • The U.S. National Cancer Institute and Cancer Research UK's Cancer Grand Challenges project provided USD 13 million in funding to a team of Stanford scientists in June 2022.

Statistics:

  • The cancer immunotherapy market size is estimated to be USD 110,125.4 million in 2022.
  • The forecasted CAGR for 2023-2033 is 7.51%.
  • The market is expected to witness a significant growth due to the rise in oncology incidence and R&D efforts.
  • USD 13 million in funding was provided by the U.S. National Cancer Institute and Cancer Research UK's Cancer Grand Challenges project to a team of Stanford scientists in June 2022.

Sources:

  • ResearchAndMarkets.com
  • U.S. National Cancer Institute
  • Cancer Research UK's Cancer Grand Challenges project