Cancer Immunotherapy Market Set to Reach USD 215.93 Billion by 2030 as Immuno-Oncology Innovation Accelerates

Cancer Immunotherapy Market Overview

The Global Cancer Immunotherapy Market is witnessing strong expansion as healthcare providers increasingly adopt therapies designed to activate, strengthen, or redirect the body's immune system against cancer cells. According to Maximize Market Research, the market was valued at USD 118.12 billion in 2023 and is projected to reach approximately USD 215.93 billion by 2030, growing at a CAGR of 9% from 2024 to 2030. The market's expansion is being supported by the rising global cancer burden, increasing adoption of targeted immunotherapies, advances in biotechnology, and growing clinical evidence supporting improved patient outcomes.

Traditional chemotherapy and radiation therapy remain widely used, but their systemic side effects have increased interest in more targeted treatment approaches. Immunotherapies such as monoclonal antibodies, checkpoint inhibitors, cytokines, and cell-based therapies can stimulate or modify immune responses against malignant cells. Increasing investment in bioinformatics and molecular research is also helping researchers identify therapeutic targets and accelerate drug-development programs. The growing incidence of cancer, particularly lung cancer, represents another major demand driver. The MMR report notes that global lung-cancer cases reached approximately 2.4 million in 2022, reinforcing the need for innovative treatment options.

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U.S. Market Trends and Investment

The United States remains a major center for cancer immunotherapy development, supported by advanced healthcare infrastructure, biotechnology investment, clinical research, and a favorable ecosystem for innovative cancer treatments. In 2025, the FDA eliminated Risk Evaluation and Mitigation Strategies requirements for currently approved BCMA- and CD19-directed autologous CAR-T therapies, reducing administrative requirements for hospitals and associated clinics while maintaining product labeling and safety provisions. The FDA also expanded immuno-oncology treatment options through multiple 2025 approvals, including new indications for pembrolizumab, tafasitamab, and other cancer therapies. Merck further demonstrated its commitment to U.S. oncology manufacturing by beginning construction of a USD 1 billion biologics center in Wilmington, Delaware, intended to support next-generation biologics, antibody-drug conjugates, and future U.S. production of KEYTRUDA.

Market Segmentation

By Technology, Monoclonal Antibodies dominated the Cancer Immunotherapy Market with a 42% share in 2023. Their leading position is attributed to their ability to restore, enhance, or mimic immune responses and selectively recognize cancer-cell targets. Monoclonal antibodies are used across multiple cancer indications, including breast cancer, lymphoma, lung cancer, and brain cancer.

By Application, Lung Cancer dominated with a 44% share in 2023. The segment's leadership is linked to the high global incidence of lung cancer and increasing awareness and adoption of immunotherapy as a treatment option.

By End Use, Hospitals dominated with a 60% share in 2023, supported by the extensive use of cancer immunotherapy in hospital-based treatment settings and patient preference for established healthcare facilities.

Cancer Immunotherapy Market Key Players are:
1. Merck & Co., Inc. (MSD)
2. Bristol Myers Squibb (BMS)
3. F. Hoffmann-La Roche Ltd.
4. AstraZeneca PLC
5. Novartis AG
6. Gilead Sciences, Inc. (Kite Pharma)
7. Johnson & Johnson (Janssen Biotech)
8. Pfizer Inc.
9. Eli Lilly and Company
10. Amgen Inc.
11. Regeneron Pharmaceuticals, Inc.
12. BioNTech SE
13. Moderna, Inc.
14. BeiGene Ltd.
15. Genmab A/S
16. Adaptimmune Therapeutics plc
17. Iovance Biotherapeutics, Inc.
18. Legend Biotech Corporation
19. Immunocore Holdings plc
20. Cellectis S.A.
21. Cartesian Therapeutics, Inc.
22. Allogene Therapeutics, Inc.
23. Arcellx, Inc.
24. Fate Therapeutics, Inc.
25. CRISPR Therapeutics AG
26. Nkarta, Inc.
27. Caribou Biosciences, Inc.
28. Sana Biotechnology, Inc.
29. TCR² Therapeutics Inc.
30. BioAtla, Inc.
31. Xencor, Inc.
32. Incyte Corporation
33. Coherus BioSciences, Inc.
34. Nektar Therapeutics
35. ImmunityBio, Inc.
36. Others

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Competitive Analysis

The MMR report identifies Merck, Bayer AG, Eli Lilly and Company, Novartis, Pfizer, Janssen Global Service, Johnson & Johnson, Amgen, AstraZeneca, Hoffmann-La Roche Ltd., and Bristol-Myers Squibb, among others, as key participants. The report does not provide individual market-share percentages for the companies on its accessible page; therefore, specific percentage shares are not assigned. The following five companies are among the first leading companies listed in the report rather than being presented as verified top-five market-share holders.

Merck continues to strengthen its position through KEYTRUDA and next-generation immuno-oncology combinations. In 2025, the company reported positive Phase 3 results for KEYTRUDA plus chemotherapy in platinum-resistant recurrent ovarian cancer and received FDA approval for a new perioperative head-and-neck cancer indication. Its USD 1 billion U.S. biologics facility further supports future production of biologics and ADC technologies.

Bayer AG continues to expand its oncology pipeline and pursue a broader, modality-rich pharmaceutical portfolio. Its strategy includes investment across oncology, immunology, and other high-value therapeutic areas, creating opportunities for innovative immune-based cancer treatments.

Eli Lilly and Company expanded its precision-oncology pipeline in 2025 by acquiring Scorpion Therapeutics' STX-478 program, a mutant-selective PI3Kα inhibitor being evaluated for breast cancer and advanced solid tumors. Lilly also announced major U.S. manufacturing investments, including a planned USD 5 billion facility focused on its bioconjugate and monoclonal-antibody portfolio.

Novartis continues to expand oncology capabilities through advanced medicines and technology platforms. Its 2025 U.S. investment plan included USD 23 billion over five years to expand manufacturing and R&D, including gene and cell therapy and radioligand-therapy capabilities and increased domestic production across oncology and other therapeutic areas.

Pfizer is advancing a diversified oncology pipeline, including PF'4404, a PD-1 × VEGF bispecific antibody obtained through its licensing agreement with 3SBio. The company describes the candidate as having potential applications across thoracic, genitourinary, and gastrointestinal cancers.

Regional Analysis

United States: North America dominated the Cancer Immunotherapy Market with a 45% share in 2023, according to MMR. The region benefits from high cancer incidence, access to advanced therapies, a large biotechnology ecosystem, and rapid adoption of technologies such as CRISPR.

China: China represents a significant long-term opportunity as cancer incidence rises alongside healthcare investment and biotechnology development. Increasing demand for affordable treatment and growing pharmaceutical investment can support immunotherapy adoption.

Japan: Japan's advanced healthcare system, aging population, strong pharmaceutical research capabilities, and demand for innovative cancer therapies provide favorable conditions for immunotherapy development and adoption.

Conclusion

The Global Cancer Immunotherapy Market is projected to expand from USD 118.12 billion in 2023 to USD 215.93 billion by 2030, registering a 9% CAGR during 2024–2030.

The strongest future opportunity lies in developing more precise, personalized, and combination-based immunotherapies. Advances in monoclonal antibodies, checkpoint inhibitors, CAR-T therapies, bispecific antibodies, antibody-drug conjugates, and molecular diagnostics can broaden the number of patients who benefit from immune-based treatment. In addition, improvements in manufacturing, regulatory pathways, and treatment accessibility could accelerate adoption. The convergence of biotechnology, artificial intelligence, biomarker discovery, and personalized medicine is likely to remain a major force shaping the next generation of cancer immunotherapy.

About Maximize Market Research

Maximize Market Research Pvt. Ltd. (MMR) is a global market research and consulting firm known for delivering accurate, actionable, and data-driven insights. Our expertise spans diverse industries — including medical devices, pharmaceuticals, technology, automotive, electronics, chemicals, personal care, and consumer goods. We provide services such as market-validated forecasts, competitive intelligence, strategic consulting, and industry impact analysis, helping businesses navigate market complexities and achieve sustainable growth.

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