Cancer Immunotherapy Market Size, Share, and Growth

Overview

The global cancer immunotherapy market is expected to reach a value of USD 141.06 billion by 2024, up from an estimated USD 30.96 billion in 2019. This represents a compound annual growth rate (CAGR) of 23.9% over the forecast period.

Key Factors Driving Growth

• Rising incidence of cancer
• Increased awareness of cancer immunotherapy
• Government funding for cancer research
• Development of new cancer immunotherapy drugs

Regional Analysis

North America is the largest market for cancer immunotherapy, accounting for over 40% of the global market share in 2019. This is due to the high incidence of cancer in the region, as well as the strong research and development infrastructure.

Europe is the second largest market for cancer immunotherapy, with a share of over 30%. The region has a well-developed healthcare system and a strong focus on cancer research.

Asia-Pacific is the fastest growing market for cancer immunotherapy, with a CAGR of over 25% over the forecast period. This growth is being driven by the rising incidence of cancer in the region, as well as the increasing affordability of cancer immunotherapy drugs.

Competitive Landscape

The cancer immunotherapy market is highly competitive, with a number of major players. The key players include:

• Bristol-Myers Squibb
• Merck
• Roche
• Pfizer
• Bayer

Future Outlook

The cancer immunotherapy market is expected to continue to grow in the coming years. This growth will be driven by the rising incidence of cancer, the increasing awareness of cancer immunotherapy, and the development of new cancer immunotherapy drugs.