The global immunotherapy drugs market size was valued at USD 240.19 billion in 2023 and is projected to surpass around USD 1,300.38 billion by 2033, registering a CAGR of 18.4% over the forecast period of 2024 to 2033.
The market is primarily driven by the rising incidence of chronic diseases globally. The International Diabetes Federation stated that in 2021, an estimated 537 million people aged between 20 and 79 years had diabetes. Moreover, by 2045, this number is expected to rise to 783 million. Key industry players are focusing on new product developments and engaging in strategic collaborations to advance research in the immunotherapy drugs field.
For instance, in March 2022, Nextera AS strategically collaborated with Zelluna Immunotherapy AS for the development of optimized TCRs for cancer immunotherapy. Furthermore, in February 2022, Biomunex Pharmaceuticals collaborated with Institut Curie for the development of an immunotherapy drug candidate for treating hematological malignancies using Biomunex Pharmaceuticals’ BiXAR technology. Moreover, in January 2021, Boehringer Ingelheim International GmbH signed a licensing agreement with Enara Bio for novel cancer immunotherapies by utilizing Enara Bio’s Dark Antigen discovery platform.
In addition, the high adoption of biosimilar drugs in immunotherapy is anticipated to boost growth in market dynamics. For instance, Abevmy, a biosimilar of Avastin, was launched by Biocon Biologics and Viatris Inc. in Canada across four oncology indications, in May 2022. Furthermore, the European Medicines Agency (EMA) accepted the Sandoz application for high concentration formulation of its biosimilar Hyrimoz (adalimumab) indicated for rheumatoid arthritis, plaque psoriasis, Crohn’s disease, and ulcerative colitis. These developments are expected to drive industry growth.
Conversely, high attrition rates and high costs associated with immunotherapy treatment are projected to impede industry growth. According to the American Society of Clinical Oncology, immunotherapy launched between 2009 and 2014 costs above USD 100,000 annually. Moreover, CAR T-cell therapy costs up to approximately USD 500,000 annually. In addition, as per the NCBI, anti-cancer drug prices are two times higher in the U.S. than in Europe.
| Report Attribute | Details |
| Market Size in 2024 | USD 284.38 Billion |
| Market Size by 2033 | USD 1,300.38 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 18.4% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Drug type, indication, region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Companies Profiled | Amgen, Inc.; Novartis AG; AbbVie, Inc.; Pfizer, Inc.; F. Hoffmann-La Roche Ltd.; Johnson & Johnson Services, Inc.; AstraZeneca; GSK; Sanofi; Bayer AG |
On the basis of drug types, the industry has been further categorized into cancer, autoimmune diseases, infectious diseases, and others. The cancer segment accounted for the largest revenue share of more than 94.10% in 2023 owing to the increased prevalence of cancer, coupled with a rise in the launch of cancer immunotherapies. As per Globocan 2020, breast cancer and lung cancer are the two most predominant cancers with a prevalence of approximately 11.7% and 11.4%. Moreover, in April 2021, the FDA approved Opdivo (nivolumab) in combination with chemotherapy for patients with gastric cancer.
On the other hand, the autoimmune diseases segment is anticipated to register the fastest growth rate during the forecast period. The growth of this segment can be attributed to the increasing cases of autoimmune diseases across the globe and regional approvals of immunotherapy drugs. As per NCBI research, the estimated global prevalence of rheumatoid arthritis is around 0.46% of the global population. Moreover, GSK’s Benlysta (belimumab) received China’s National Medical Products Administration approval for the treatment of active lupus nephritis in February 2022.
On the basis of drug types, the industry has been further divided into monoclonal antibodies, immunomodulators, and vaccines. The monoclonal antibodies segment accounted for the largest share of more than 78.11% in 2023 owing to increased R&D in therapeutic monoclonal antibodies coupled with supportive government initiatives. For instance, in May 2022, the U.S. FDA accepted the supplemental Biologics License Application for priority review of Dupixent (dupilumab) indicated for treating prurigo nodularis. The vaccines segment is expected to register the fastest CAGR during the forecast period.
The growth of this segment is attributed to strategic collaborations among key players and an increase in clinical trials for vaccine development. For instance, in January 2022, Pfizer Inc. and BioNTech SE entered a strategic collaboration to develop an mRNA-based vaccine to prevent shingles. Under this agreement, BioNTech’s mRNA platform technology and Pfizer’s antigen technology will be utilized. In addition, in March 2022, the National Institute of Health launched a Phase 1 trial of three investigational HIV mRNA-based vaccines.
North America dominated the global industry in 2023 and accounted for the largest share of more than 48.19% of the overall revenue. The launch and regulatory approval of new immunotherapy drugs and favorable reimbursement policies are projected to aid in the region’s growth. For instance, Keytruda, Merck’s anti-PD-1 therapy, was approved by the FDA in October 2021, in combination with chemotherapy for cervical cancer treatment. Moreover, in August 2021, Opdivo (nivolumab) manufactured by Bristol Myers Squibb Co. received FDA approval for the treatment of urothelial carcinoma.
The Centers for Medicare & Medicaid Services provides reimbursement for hospital inpatient treatment with chimeric antigen receptor T-cell therapy. Japan is expected to witness a significant CAGR during the forecast period. The increasing prevalence of cancer in Japan, rising geriatric population, increasing investments in medical research, and well-developed healthcare infrastructure, are some of the major factors boosting the region’s growth. According to the GLOBOCAN report, in 2020, around 27,10,728 people were suffering from cancer in Japan, with about 10,28,658 newly diagnosed cancer cases. Thus, the demand for advanced immunotherapies is expected to be high in this region.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Immunotherapy Drugs market.
By Drug Type
By Indication
By Region
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers