Novel Modes of Treatment and Drugs Spur the Demand in the Immuno-oncology Market: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, March 13, 2025 /EINPresswire.com/ -- The global immuno-oncology market is estimated to have a value of US$ 24.17 billion in 2024. The market is projected to grow at a robust clip through 2034, with a CAGR of 16.5%. The demand for immuno-oncology is projected to hit a valuation of US$ 111.64 billion by 2034.

As with other oncology-related fields, the growing incidence of cancer is seeing the demand for immuno-oncology accelerate. Significant growth in cigarette smokers, genetic diseases, excess sun exposure, and changing eating habits are leading factors in cancer growth, which further necessitates the use of immuno-oncology. The effectiveness of the treatment is a further boost for the market.

Immuno-oncology is a dynamic field, and newer modes of treatment and drugs keep the product line fresh. Significant sums of money and time are devoted to research and development for the introduction of new drugs. As governments all over the world look to curb death rates due to cancer, there is encouragement for the development of novel products from public health institutions.

As part of a more positive outlook towards immuno-oncology, regulatory bodies are approving newer products at a frequent pace. As companies in the market rely on approval from regulatory bodies like the United States Food and Drug Administration (FDA) to get their products moving, this positive tendency is a boon for the market.

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Key Takeaways from the Market Study

The global immuno-oncology market is projected to expand at a CAGR of 16.5% through 2034.
The East Asia immuno-oncology market is expected to evolve at a CAGR of 15.2% through the forecast period.
The immuno-oncology industry is expected to register a CAGR of 15.2% in China over the forecast period.
The immuno-oncology industry in Japan is expected to rise at a CAGR of 15.5% through 2034.
Based on therapy type, immune checkpoint inhibitors lead the market, with an expected market share of 86.3% in 2024.

“Doctors often use immuno-oncology in combination with other cancer treatments. Immuno-oncology’s boosting of the immune system is paired up with other effective treatments to battle cancer cells. Thus, the market is growing in conjunction with other oncological markets.” says a Fact.MR analyst.

Leading Players Driving Innovation in the Immuno-Oncology Market

Key companies in the market are Bristol Myers Squibb Company, Novartis AG, F. Hoffmann-LA Roche Ltd., Merck & Co., Inc., GSK Plc., Eli Lilly and Company, Fresenius Kabi AG, Pfizer Inc., AbbVie Inc., Genentech Inc., Sanofi, and AstraZeneca.

Companies are Pairing Together to Combine Technological Capabilities in the Pursuit of More Effective Products

The market is fertile ground for the inking of partnerships, sometimes even between direct competitors. Startups and established giants alike are taking the opportunities provided by collaboration. Some prominent companies in the market are Bristol Myers Squibb Company, Novartis AG, F. Hoffmann-LA Roche Ltd., and Merck & Co.

Some recent developments in the market are:

In December 2023, Elpiscience Biopharma joined forces with Astellas Pharma for research programs on cancer treatment.
In September 2023, GI Innovation partnered up with Medidata Solutions for the development of two new drugs- GI-101 and GI 102.

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Immuno-Oncology Industry News:

Elpiscience Biopharma and Astellas Pharma inked a contract in December 2023. Together, the businesses will conduct cancer treatment research projects, with Elpiscience eligible to receive financial incentives totalling more than US$1.7 billion should milestones be reached.
American clinical trial data solution company Medidata Solutions signed an agreement with South Korean player GI Innovation in September 2023. In order to develop two new medications, GI-101 and GI-102, the South Korean company intends to take advantage of the American's AI and big data skills.
The agreement between Japanese company Takeda and American startup KSQ Therapeutics was extended in May 2023. With further financial incentives if their shared goals are reached, KSQ Therapeutics raised its investment in the Japanese player.

Segmentation of Immuno-oncology Market Research

By Therapy Type:
Immune Checkpoint Inhibitors
Immune System Modulators
Cancer Vaccines
Oncolytic Virus
Others
By Therapeutic Area:
Melanoma
Lung Cancer
Blood Cancers
Renal Cell Carcinoma
Prostate Cancer
Bladder Cancer
Other Cancers
By End User:
Hospitals
Clinics
Ambulatory Surgical Centers
By Region:
North America
Europe
Latin America
East Asia
South Asia & Oceania
The Middle East & Africa

Check out More Related Studies Published by Fact.MR:

The global cancer immunotherapy market is expected to reach US$ 159.2 billion in 2024 and grow at a 10% CAGR, hitting US$ 412.8 billion by 2034 (Fact.MR).

The global immune checkpoint inhibitor market is set to reach US$ 26.8 billion in 2024, with a 14.7% CAGR through 2034, hitting US$ 106.2 billion by 2034.

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