IMMUNO-ONCOLOGY DRUGS MARKET ANALYSIS

Immuno-oncology Drugs Market Size and Trends

Global immuno-oncology drugs market is estimated to be valued at USD 27.25 Bn in 2024 and is expected to reach USD 89.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 18.4% from 2024 to 2031.

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Global immuno-oncology drugs market growth is driven by increasing adoption of immune checkpoint inhibitors across various cancer types. Biomarkers and combination therapies have gained popularity, and can drive the market growth in coming years. Further technological advancements to develop novel drug candidates with improved efficacy and faster regulatory approvals are projected to drive the immuno-oncology drugs market during the forecast period.

Rising prevalence of cancer

Rising prevalence of various types of cancers across the world can drive the global immuno-oncology drugs market growth. Cancer has become one of the leading causes of mortality worldwide. According to the data published by WHO, cancer burden is expected to grow exponentially in the future with the global cancer burden expected to reach about 30 million new cancer cases and over 16 million cancer deaths by 2040. This increasing incidence of cancer poses serious public health challenges. The prognosis of many cancers still remains poor due to limited treatment options. Due to significant advancements in immunotherapy and immune-oncology drugs, the treatment landscape of cancer is transforming. Immuno-oncology involves harnessing the power of the patient's own immune system to fight cancer, and it emerges as one of the most promising areas of research in oncology. Drugs which enhance the immune system's ability to recognize and destroy cancer cells like checkpoint inhibitors, monoclonal antibodies, cytokine therapies are demonstrating durable clinical responses in several cancer types including lung cancer, melanoma, kidney cancer, head and neck cancer. For instance, according to Cancer Australia's 2023 Report, approximately 162,163 cancer cases were diagnosed in Australia in 2022. This significant incidence of cancer cases boosted demand for point-of-care diagnostics. According to the data from the International Agency for Research on Cancer,  in 2022, there were approximately 8,600 cases of liver cancer, and this will increase to 11,200 cases by 2030 in Mexico.

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Growing Adoption of Combination Therapies

There has been increased use of combination immunotherapies aimed at targeting multiple immune checkpoints during cancer treatment. Combination therapies have emerged as a promising strategy to optimize clinical response rates and combat resistance to monotherapies. Early studies have shown that combined blockade of PD-1 and CTLA-4 improves survival outcomes over single-agent therapies for many cancer types. Combination regimens are also more effective than sequential therapies in eliciting durable anti-tumor responses. With initial positive clinical data, combination strategies are expected to become first-line options for cancer indications. Drug manufacturers are actively pursuing combination therapies through collaborations and pipeline expansion focused on dual or triple immune checkpoint inhibitors. The clinical benefits of combination immunotherapies over single agents drives physicians and patients to increasingly adopt such treatment approaches.