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Immunotherapy is treatment that uses a certain part of a person’s immune system to fight diseases which is done by stimulating one’s own immune system to work harder to attack cancer cells or by giving immune system components, such as man-made immune system proteins. Immunotherapy includes treatments that work in different ways. Some boost the body’s immune system in a very general way and others help train the immune system to attack cancer cells specifically.

The global immuno-oncology market is estimated to account for US$ 12,993.8 Mn in terms of value in 2020 and is expected to reach US$ 37,783.6 Mn by the end of 2027.

Global Immuno-Oncology Market: Drivers

Increasing prevalence of cancer is expected to propel growth of the global immuno-oncology market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, R&D in monoclonal antibodies is also expected to boost demand for immuno-oncology. For instance, in January 2020, researchers from Universidade do Porto, Portugal, reported assessment of the role of O-glycosylation using glycoengineered gastric cancer models in the detection of CD44v9 – a major protein splice variant isoforms expressed in human gastrointestinal cancer cells—by monoclonal antibodies.

Immune Checkpoint Inhibitors held dominant position in the global immuno-oncology market in 2019, accounting for 89.7% share in terms of value, followed by Immune System Modulators and Cancer Vaccines, respectively.

Figure 1. Global Immuno-Oncology Market Share (%), by Value, by Treatment Type, 2019

Global Immuno-Oncology Market: Restraints

High R&D cost is expected to hinder growth of the global immuno-oncology market. The revolution in cancer treatment driven by molecular insights of genomics has moved decisively out of the lab and onto the market, but the R&D success is translating into staggering development costs for companies hoping to bring these innovative therapies to the market.

Moreover, several manufacturing challenges are adversely impacting product availability, thereby limiting the market growth. Limited organizations are able to offer manufacturing solutions, which drug developers seek in order to free up in-house capacity for clinical development material. Additionally, small biotech companies involved in this market rarely possess the infrastructure and capacity for commercial production.

Immuno-Oncology Market Report Coverage Report Coverage Details Base Year: 2019 Market Size in 2019: US$ 11,060.6 Mn Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027 Forecast Period 2020 to 2027 CAGR: 16.5% 2027 Value Projection: US$ 37,783.6 Mn Geographies covered: North America: U.S., Canada

U.S., Canada Latin America: Brazil, Argentina, Mexico, Rest of Latin America

Brazil, Argentina, Mexico, Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe

Germany, U.K., Spain, France, Italy, Russia, Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific

China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific Middle East: GCC Countries, Israel, Rest of Middle East

GCC Countries, Israel, Rest of Middle East Africa: South Africa, North Africa, Central Africa Segments covered: By Treatment Type: Immune Checkpoint Inhibitors: PD-1, PD-L1, CTLA-4. Immune System Modulators, Cancer Vaccines, Oncolytic Virus, Others.

By Disease Type: Melanoma, Lung Cancer, Blood Cancers, Renal Cell Carcinoma, Prostate Cancer, Bladder Cancer, Other Cancers.

Melanoma, Lung Cancer, Blood Cancers, Renal Cell Carcinoma, Prostate Cancer, Bladder Cancer, Other Cancers. By End User: Hospitals, Clinic, Ambulatory Surgical Centers. Companies covered: Amgen, Inc., AstraZeneca Plc, Bristol-Myers Squibb Company, Dendreon Corporation (A Sanpower Group Company), F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Novartis AG, Pfizer, Inc., Sanofi, Agilent Technologies Inc., Agenus Inc., Enzo Biochem, Inc., Lonza Group, Bio-Rad Laboratories, Inc., Avantor, Inc., Spring Bank Pharmaceuticals, Inc., and Ferring Pharmaceuticals Growth Drivers: High prevalence of cancer

Product launches Restraints & Challenges: High costs

Side effects

Global Immuno-Oncology Market: Opportunities

R&D in CAR-T cell production is expected to offer lucrative growth opportunities for players in the global immuno-oncology market. For instance, in May 2020, researchers from University Hospital Heidelberg, Germany, reported that sufficient yield of lymphocytes for CAR-T cell production is feasible also for patients with low peripheral blood counts.

Moreover, increasing investment in immuno-oncology is also expected to aid in growth of the market. For instance, in July 2020, Agenus Inc., an immuno-oncology company, raised US$ 35 million.

The global immuno-oncology market was valued at US$ 11,060.6 Mn in 2019 and is forecast to reach a value of US$ 37,783.6 Mn by 2027 at a CAGR of 16.5% between 2020 and 2027.

Figure 2. Global Immuno-Oncology Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Market Trends/Key Takeaways

Major players in the global immuno-oncology market are focused on approval and launch of new products to expand their product portfolio. For instance, in March 2019, F. Hoffmann-La Roche Ltd. received the U.S. Food and Drug Administration (FDA) approval of the VENTANA PD-L1 (SP142) Assay, as the first companion diagnostic to aid in identifying triple-negative breast cancer (TNBC) patients eligible for treatment with the Roche cancer immunotherapy Tecentriq (atezolizumab) plus chemotherapy.

Major players in the market are also focused on expanding their production capacities. For instance, in August 2018, Enzo Biochem, Inc. announced that it has entered into an agreement to purchase a commercial facility with nearly 36,000 square feet in Farmingdale, NY, to advance its diagnostic and therapeutic growth strategy. The facility is expected to enhance the company’s ability to produce and distribute its growing portfolio of molecular assays, immunohistochemistry, immunoassays and immuno-oncology products and services.

Global Immuno-Oncology Market: Competitive Landscape

Major players operating in the global immuno-oncology market include, Amgen, Inc., AstraZeneca Plc, Bristol-Myers Squibb Company, Dendreon Corporation (A Sanpower Group Company), F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Novartis AG, Pfizer, Inc., Sanofi, Agilent Technologies Inc., Agenus Inc., Enzo Biochem, Inc., Lonza Group, Bio-Rad Laboratories, Inc., Avantor, Inc., Spring Bank Pharmaceuticals, Inc., and Ferring Pharmaceuticals.

Global Immuno-Oncology Market: Key Developments

Major players in the global immuno-oncology market are focused on adopting collaboration and partnership strategies to enhance their market share. For instance, in November 2019, Avantor, Inc. collaborated with National Institute for Bioprocessing Research and Training, Ireland, to address downstream issues with buffer preparation when producing monoclonal antibodies.

Major players in the market are also focused on approval and launch of new products to expand their product portfolio. For instance, in July 2019, Bio-Rad Laboratories, Inc. launched its Bio-Plex Pro Human Immunotherapy Panel 20-plex, a multiplex immunoassay that offers a targeted approach for immunotherapy research.