America Cancer Immunotherapy Market - Growth, Trends, and Forecasts (2024- 2029)

America Cancer Immunotherapy Market Analysis

The Americas Cancer Immunotherapy Market size is estimated at USD 70.12 billion in 2024, and is expected to reach USD 96.17 billion by 2029, growing at a CAGR of 8.76% during the forecast period (2024-2029).

The American cancer immunotherapy market is anticipated to witness significant growth opportunities due to the rising burden of cancer, rising R&D activities, and the increasing effectiveness and accuracy of newer therapies. In addition, growing funding activities and several strategic initiatives undertaken by industry participants are projected to accelerate market growth over the study period.

The alarming increase in the burden of cancer across the Americas is expected to bolster the demand for innovative cancer therapies like immunotherapy to treat the condition. For instance, according to the American Cancer Society, the estimated number of new cancer cases ramped up from 1.9 million in 2023 to 2.0 million in 2024. The most common type of cancers diagnosed in 2023 were breast, lung, and hematological malignancies.

Similarly, according to the estimates from the National Cancer Institute of Brazil, around 704 thousand new cancer cases are expected to be diagnosed between 2023 and 2025, except non-melanoma skin cancer. Thus, such an alarming burden of cancer in the region is projected to accelerate the uptake of novel cancer therapies like immunotherapy for the effective treatment of disease.

Thus, the increased burden of cancers has accelerated the adoption of advanced cancer treatment options like immunotherapies. Moreover, several clinical benefits of immunotherapies in cancer and leveraging the role of immunotherapies in cancer management are further expected to accelerate market growth over the study period.

For instance, according to an article published by the International Journal of Molecular Sciences in September 2023, immunotherapy recently emerged as an innovative treatment option for lethal cancers like prostate cancer. It has several clinical benefits, including targeted therapy and improved clinical outcomes. Thus, leveraging the role of immunotherapy in the management of cancers is expected to accelerate market expansion over the study period.

Furthermore, supportive government legislation and growing regulatory approvals are further projected to accelerate industry expansion over the study period. For instance, in March 2024, the United States Food and Drugs Administration (U.S.FDA) approved Bristol Myers Squibb’s Opdivo (nivolumab) in combination with gemcitabine and cisplatin for the first-line treatment of metastatic urothelial carcinoma in adults. This approval marked one of the key immunotherapy-chemotherapy combinations approved for patients with metastatic urothelial carcinoma.

Similarly, in July 2022, the US FDA accepted Genentech’s Biologics License Application (BLA) and granted Priority Review for mosunetuzumab, a T-cell-engaging bispecific antibody. The immunotherapy drug is a first-in-class CD20xCD3 T-cell-engaging bispecific antibody intended for the management of relapsed or refractory (R/R) follicular lymphoma (FL) in adult patients. Thus, such growing regulatory approvals are projected to foster market growth over the study period.

Moreover, in March 2024, Caring Cross and Fundação Oswaldo Cruz collaborated to develop domestic production of stem cell gene therapies and CAR-T cell therapies for various types of cancers, including leukemia, and lymphoma.

America Cancer Immunotherapy Market Trends

Breast Cancer Segment is Expected to Exhibit a Significant Market Growth Over the Forecast Period

America Cancer Immunotherapy Industry Segmentation

As per the scope of the report, immunotherapy is a treatment that uses certain parts of a person’s immune system to fight diseases, such as cancer. This can be done by stimulating one’s immune system to work better to attack cancer cells or by giving one immune system components, such as artificial immune system proteins. America's cancer immunotherapy market is segmented by therapy type, application, end-user, and geography. Based on therapy type, the market is segmented into monoclonal antibodies, cancer vaccines, immunomodulators, immune checkpoint inhibitors, and other therapy types. Based on application, the market is segmented into prostate cancer, breast cancer, skin cancer, lung cancer, and other applications. Based on end users, the market is segmented into hospitals and clinics, cancer research centers, and other end users. The report also covers the market sizes and forecasts for the Americas Cancer Immunotherapy market in major countries across different regions. The market size is provided for each segment in terms of value (USD).