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2023

Immune Checkpoint Inhibitors Market

Immune Checkpoint Inhibitors Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, By Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

LS : Pharmaceuticals

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Author's: Shreya Mantri | Roshan Deshmukh
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Immune Checkpoint Inhibitors Market Research, 2032

The global immune checkpoint inhibitors market was valued at $40.1 billion in 2022, and is projected to reach $189.4 billion by 2032, growing at a CAGR of 16.8% from 2023 to 2032.The primary driver fueling the immune checkpoint inhibitor market is the rising global prevalence of cancer. Immune checkpoint inhibitor are employed in treating diverse cancer types such as lung cancer, melanoma, bladder cancer, colorectal cancer, renal cancer, and others. According to estimations by Globocan in 2020, around 19.2 million new cases of cancer were diagnosed in the world by 2030, and it is projected that there will be 26 million new cancer cases across the world. This significant increase in cancer incidences underscores the anticipated surge in demand for immune checkpoint inhibitors, positioning them as vital contributors to the ongoing growth of the market.

Immune Checkpoint Inhibitors Market

 

Key Takeaways

  • On the basis of product type, the PD-1 inhibitor segment dominated the immune checkpoint inhibitors market size in terms of revenue in 2022 and is expected to witness highest CAGR during the forecast period. 

  • On the basis of application, the lung cancer segment dominated the immune checkpoint inhibitors market size in terms of revenue in 2022 and is expected to witness highest CAGR during the forecast period. 

  • Region-wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period. 

Immune checkpoint inhibitors industry are a class of immunotherapy drugs that enhance the body's natural defense against cancer. They target specific proteins, such as PD-1 or CTLA-4, which regulate immune responses. By blocking these checkpoints, the inhibitors unleash the immune system to recognize and attack cancer cells more effectively. This innovative approach has shown remarkable success in treating various cancers, offering new hope for patients by bolstering immune responses and promoting durable anti-cancer effects. 

Market Dynamics 

The growth of the immune checkpoint inhibitors market forecast is propelled by continuous advancements in cancer detection and diagnosis. Early cancer detection is crucial for effective treatment, and ongoing progress in imaging technologies such as CT, MRI, and PET has significantly improved metastatic lesion identification. These techniques empower physicians to detect metastasis at earlier stages, facilitating timely interventions and the initiation of appropriate treatments. Moreover, advanced imaging and biomarker analysis methods are pivotal in monitoring treatment response and disease progression in metastatic cancer patients. The integration of these technologies not only enhances patient outcomes but also contributes to the expansion of the immune checkpoint inhibitors market, as timely and precise diagnostics become increasingly integral to the development and implementation of targeted and immunotherapeutic cancer treatments.  

Simultaneously, the pharmaceutical industry's key players are intensively focusing on developing novel cancer treatment drugs. The growing understanding of the molecular and genetic basis of cancers has paved the way for targeted therapies and immunotherapies, offering more effective and tailored treatment options. Immune checkpoint inhibitors, targeted therapies, and gene therapies are among the breakthroughs transforming the landscape of cancer treatment. 

Additionally, the increasing adoption of combinational therapies has become a driving force in the market's growth. Combinational therapies involve the simultaneous use of multiple treatments, such as chemotherapy and immunotherapy, to target cancer through different mechanisms. This approach aims to enhance the efficacy of treatment while potentially reducing side effects. The synergistic effects of combining various therapeutic modalities contribute to a more comprehensive and tailored approach to cancer care. 

The robust presence of drugs in the pipeline underscores the continuous commitment to research and development. Ongoing clinical trials and collaborations between pharmaceutical companies and research institutions are fostering a dynamic environment for drug discovery. This collective effort aims to address unmet medical needs and improve patient outcomes, fostering optimism in the fight against cancer. As the synergy between diagnostics and therapeutics strengthens, the market anticipates sustained growth, offering renewed hope for cancer patients through early detection, precise diagnosis, and innovative treatment options. 

Further, the immune checkpoint inhibitors market growth is experiencing growth owing to the presence of reimbursement policies and heightened awareness leading to increased adoption. Reimbursement policies play a crucial role in facilitating patient access by alleviating financial burdens. In addition, rising awareness about the efficacy of immune checkpoint inhibitor therapies and their applications in various cancer conditions contributes to greater acceptance among healthcare professionals and patients. This increased awareness, coupled with supportive reimbursement frameworks, fosters a favorable environment for immune checkpoint inhibitor adoption, driving sustained market growth. 

However, the immune checkpoint inhibitors industry faces challenges due to adverse effects, as these drugs may lead to immune-related adverse events, causing concerns among patients and healthcare providers. In addition, intense competition among pharmaceutical companies vying for market share further complicates matters, potentially impacting pricing and accessibility. Further, uncertainties in the long-term efficacy of immune checkpoint inhibitors contribute to cautious adoption, as the durability of treatment responses remains a key consideration. These combined factors create a complex landscape, restraining the market's growth and necessitating ongoing efforts to address safety concerns, foster collaboration, and establish clearer understandings of efficacy for sustained market success. 

A recession signifies an economic downturn marked by reduced activity and indicators. This often results in diminished research funding, affecting both government and private sources. Economic contraction during a recession leads to lower consumer spending, reduced business investments, and potential job losses, impacting healthcare budgets, including funding for cancer drugs. The pharmaceutical industry faces challenges with decreased R&D funding and market demand. Affordability concerns for cancer drugs may heighten, prompting calls for pricing reforms. Clinical trial disruptions during recessions impede the introduction of new cancer drugs, affecting market growth. The ongoing global recession has significantly impacted pharmaceutical industries, causing fluctuations in demand as companies adjust spending priorities. Despite economic challenges, the market may see growth due to increased adoption of personalized medicine, advancements in cell research, and rising cancer cases. 

Segmental Overview 

The immune checkpoint inhibitors market is segmented based on product type, application, and region. Based on product type, the market is categorized into CTLA-4 inhibitor, PD-1 inhibitor and PD-L1 inhibitor. On the basis of application, the market is classified into lung cancer, bladder cancer, melanoma, colorectal cancer, Hodgkin lymphoma and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, and rest of LAMEA). 

By Product Type 

The immune checkpoint inhibitors market is segmented into CTLA-4 inhibitor, PD-1 inhibitor and PD-L1 inhibitor. The PD-1 inhibitor segment accounted for largest immune checkpoint inhibitors market share in terms of revenue in 2022 and is expected to witness fastest CAGR during the forecast period. This is attributed to rise in adoption of PD-1 inhibitors in various cancers, including melanoma, lung, and bladder cancers. In addition, its advantages including superior efficacy and durable responses in treating cancers are further contributing to the growth. 

Immune Checkpoint Inhibitors Market by Type

By Application 

The immune checkpoint inhibitors market is segmented into lung cancer, bladder cancer, melanoma, colorectal cancer, Hodgkin lymphoma and others. The lung cancer segment accounted for largest immune checkpoint inhibitors market share in terms of revenue in 2022 and is anticipated to witness fastest CAGR during the forecast period owing to an increase in the use of immune checkpoint inhibitors for the treatment of lung cancer and a surge in the prevalence of lung cancer globally. In addition, ongoing research focusing on combination therapies & expanding indications for these inhibitors in lung cancer treatment.  

Immune Checkpoint Inhibitors Market by Application

 By Region 

The immune checkpoint inhibitor market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest share in terms of revenue in 2022 and is expected to remain dominant during the forecast period owing to factors such as a well-developed healthcare infrastructure, a notable prevalence of cancer diseases requiring immune checkpoint inhibitor therapies, and the region's proactive adoption of advanced medical treatments. The established healthcare framework enables efficient delivery of immune checkpoint inhibitor therapies, contributing to the region's robust market position. However, Asia-Pacific is anticipated to witness notable immune checkpoint inhibitors market opportunity, owing to a sizable population base, heightened healthcare awareness, and a surge in cases of cancer. These factors collectively drive the demand for immune checkpoint inhibitors in the region. Additionally, pharmaceutical market expansion, government initiatives, and a surge in research and development activities contribute to the region's accelerated growth. 

Furthermore, a rise in research activities as well as the well-established presence of domestic companies in the region are expected to provide notable opportunities for market growth. 

Immune Checkpoint Inhibitors Market by Region

Competition Analysis 

Competitive analysis and profiles of the major players in the immune checkpoint inhibitor market that operate in the market are provided in the report, such as Merck & Co., Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd., Merck KGaA, Regeneron Pharmaceuticals, Inc., Bristol-Myers Squibb Company, BeiGene, Ltd., Shanghai Junshi Biosciences Co., Ltd., GlaxoSmithKline plc, and Innovent Biologics, Inc. The key players have adopted strategies such as acquisition, agreement, strategic alliance, collaboration, clinical trial, expansion, joint venture, new product development, and product approval to expand their product portfolio. 

Recent Collaboration in Immune Checkpoint Inhibitor Market 

In June 2023, Innovent Biologics, Inc., and RemeGen Co., Ltd. announced that they entered into a clinical trial collaboration and supply agreement with for the combination therapies of TYVYT (sintilimab injection) with RC88, a novel mesothelin(MSLN)-targeting antibody-drug conjugate (ADC), or RC108, a novel c-Met-targeting ADC, respectively, as potential treatment options for advanced solid tumors in‐¯China. 

Recent Agreement in Immune Checkpoint Inhibitor Market 

In January 2020, Nektar Therapeutics and Bristol-Myers Squibb Company announced the companies have agreed to a new joint development plan to advance bempegaldesleukin (bempeg) plus Opdivo (nivolumab) into multiple new registrational trials. 

Recent Product Approval in Immune Checkpoint Inhibitor Market 

In November 2023, Merck & Co., Inc., received U.S. Food and Drug Administration (FDA) approval for KEYTRUDA, anti-PD-1 therapy, in combination with fluoropyrimidine- and platinum-containing chemotherapy, for the first-line treatment of adults with locally advanced unresectable or metastatic human epidermal growth factor receptor 2 (HER2)-negative gastric or gastroesophageal junction (GEJ) adenocarcinoma. 

In November 2022, AstraZeneca’s IMFINZI (durvalumab) in combination with IMJUDO (tremelimumab) plus platinum-based chemotherapy has been approved in the US for the treatment of adult patients with Stage IV (metastatic) non-small cell lung cancer (NSCLC). 

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the immune checkpoint inhibitors market analysis from 2022 to 2032 to identify the prevailing immune checkpoint inhibitors market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the immune checkpoint inhibitors market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global immune checkpoint inhibitors market trends, key players, market segments, application areas, and market growth strategies.

Immune Checkpoint Inhibitors Market Report Highlights

Aspects Details
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Market Size By 2032

USD 189.4 billion

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Growth Rate

CAGR of 16.8%

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Forecast period

2022 - 2032

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Report Pages

248

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By Type
  • CTLA-4 inhibitor
  • PD-1 inhibitor
  • PD-L1 inhibitor
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By Application
  • Lung Cancer
  • Bladder Cancer
  • Melanoma
  • Colorectal Cancer
  • Hodgkin lymphoma
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Rest of LAMEA)
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Key Market Players

Regeneron Pharmaceuticals, Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, BeiGene, Ltd., Merck KGaA, GlaxoSmithKline plc, Merck & Co., Inc., Shanghai Junshi Biosciences Co., Ltd., Innovent Biologics, Inc.

Analyst Review

The increase in demand for novel drugs and rise in investments for development of therapeutic agents for cancer globally are expected to offer profitable opportunities for the expansion of the market. In addition, favorable government initiatives and higher spending for cancer have piqued the interest of several companies to develop therapeutics for cancer treatment. Furthermore, increase in adoption of targeted drug therapy for cancer owing to enhanced efficacy, improved survival rates, and reduced toxicity as compared to conventional chemotherapy is expected to boost the growth of the market. In addition, personalized medicine approaches, on the basis of individual patient characteristics and tumor profiling have gained prominence in cancer treatment.Furthermore, North America accounted for the largest share in 2022 and is expected to remain dominant during the forecast period, owing to presence of large population suffering from various types of cancer, strong 
presence of key players offering novel drugs, and favorable reimbursement policies in healthcare system. However, Asia-Pacific is anticipated to witness notable growth, owing to increase in investments for development of anti-cancer agents, surge in number of cancer cases, and rise in awareness related to available treatment options. 

Author Name(s) : Shreya Mantri | Roshan Deshmukh
Frequently Asked Questions?

The total market value of immune checkpoint inhibitors market is $40,126.3 million in 2022.

The forecast period for immune checkpoint inhibitors market is 2023 to 2032

The market value of immune checkpoint inhibitors market in 2032 is $189,379.51 million.

The base year is 2022 in immune checkpoint inhibitors market.

Top companies such as Merck & Co., Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd., Merck KGaA and Regeneron Pharmaceuticals, Inc. held a high market position in 2022. These key players held a high market position owing to the strong geographical foothold in North America, Europe, Asia-Pacific, and LAMEA.

"The PD-1 inhibitor segment is the most influencing segment in immune checkpoint inhibitors market owing to rise in adoption of PD-1 inhibitors in various cancers, including melanoma, lung, and bladder cancers, owing to their superior efficacy and durable responses in treating cancers.

The major factor that fuels the growth of the immune checkpoint inhibitors market are increase in incidences of cancer across the globe, rise in geriatric population and supportive reimbursement policies for immune checkpoint inhibitors drive the growth of the global immune checkpoint inhibitors market .

Immune checkpoint inhibitors are a class of immunotherapy drugs that enhance the body's immune system to fight cancer. They work by blocking certain proteins, called checkpoints, that inhibit the immune response, allowing T cells to recognize and attack cancer cells more effectively.

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Immune Checkpoint Inhibitors Market

Global Opportunity Analysis and Industry Forecast, 2023-2032