Immune Checkpoint Inhibitors Market Expected to Reach $189.4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Immune Checkpoint Inhibitors Market," The immune checkpoint inhibitors market was valued at $40.1 billion in 2022, and is estimated to reach $189.4 billion by 2032, growing at a CAGR of 16.8% from 2023 to 2032.

Immune checkpoint inhibitors are a class of medications revolutionizing cancer treatment by leveraging the body's immune system to fight cancer. These drugs work by blocking specific proteins on immune cells or cancer cells, known as checkpoints, which regulate the immune response. By inhibiting these checkpoints, immune checkpoint inhibitors help the immune system recognize and attack cancer cells more effectively. Immune checkpoint inhibitors have transformed cancer therapy, providing a promising approach for treating different cancers and improving patient outcomes. 

The major factors that foster the immune checkpoint inhibitors market trends are increase in incidences of cancer, rise in adoption of combinational therapies involving immune checkpoint inhibitors, surge in advancements for development of novel immune checkpoint inhibitors industry , and rise in the number of approvals for new indications by regulatory agencies. Continuous rise in diagnosed cancer cases globally, influenced by factors such as aging population, lifestyle changes, and improved diagnostics, drives the demand for more effective and targeted therapies such as immune checkpoint inhibitors. The growing prevalence of various cancer types rises the urgency for innovative treatment modalities to address the expanding burden of the disease.  

Further, researchers and clinicians are exploring combination therapies involving immune checkpoint inhibitors market analysis along with other treatment modalities such as chemotherapy, targeted therapies, radiation therapy, and other immunotherapies. For instance, in August 2023, Merck & Co., Inc., announced that the European Commission (EC) approved KEYTRUDA, Merck’s anti-PD-1 therapy, in combination with trastuzumab, fluoropyrimidine- and platinum-containing chemotherapy, for the first-line treatment of locally advanced unresectable or metastatic human epidermal growth factor receptor 2 (HER2)-positive gastric or gastroesophageal junction (GEJ) adenocarcinoma in adults whose tumors express PD-L1. Thus, synergistic effects observed in some combinations have showcased improved response rates and enhanced efficacy, driving the development and adoption of combination regimens.  

Furthermore, significant advancements in R&D activities drive the immune checkpoint inhibitors market opportunity. Pharmaceutical companies, academic institutions, and research organizations invest heavily on R&D to discover and develop innovative drugs for cancer such as lung cancers, bladder cancer, melanoma, and others. This includes exploration of novel drug targets, identification of biomarkers, and development of immunotherapies. The integration of genomics, proteomics, and immunology in research has led to a better understanding of cancer biology and the development of more effective immune checkpoint inhibitors, thus propelling the market expansion.  

Moreover, rise in the number of approvals for new indications by regulatory agencies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) has significantly propelled the immune checkpoint inhibitors market growth. Regulatory approvals for expanding the use of existing drugs to include additional cancer types or for new checkpoint inhibitors signify a growing confidence in the efficacy and safety profile of these therapies.   

For instance, in March 2021, Merck & Co., Inc., announced that the European Commission (EC) approved an expanded label for KEYTRUDA, Merck’s anti-PD-1 therapy, as monotherapy for the treatment of adult and pediatric patients aged 3 years and older with relapsed or refractory classical Hodgkin lymphoma (cHL) who have failed autologous stem cell transplant (ASCT) or following at least two prior therapies when ASCT is not a treatment option. Thus, the broadening spectrum of indications not only provides patients with more treatment options but also drives the market growth by increasing the potential patient base.  

In addition, rise in awareness for the effective use of immune checkpoint inhibitors plays a pivotal role in driving the growth and adoption of the treatment. In addition, heightened awareness among healthcare professionals, including oncologists, immunologists, and nurses, significantly influences the understanding of immune checkpoint inhibitor mechanisms, clinical efficacy, and safety profiles. Continuous medical education, scientific conferences, and publications spread evolving knowledge, enabling informed decision-making in patient care. This increased understanding enhances confidence in utilizing immune checkpoint inhibitors, leading to greater incorporation of these therapies into treatment plans and clinical practice.  

Further, awareness campaigns targeting patients and caregivers are pivotal in shaping perceptions and utilization of immune checkpoint inhibitors. Patient-centric educational initiatives, advocacy groups, and informational resources empower individuals with knowledge about immunotherapy, its potential benefits, and its role in cancer treatment. Accessible information helps patients engage in informed discussions with healthcare providers, fostering shared decision-making and consideration of immune checkpoint inhibitors as viable treatment options.   

Furthermore, patient testimonials, support groups, and online platforms further spread experiences and information, alleviating concerns and providing crucial emotional support to individuals considering or undergoing immune checkpoint inhibitor therapies. This comprehensive approach to patient education and support fuels awareness, positively impacting the acceptance and uptake of immune checkpoint inhibitors in cancer care. Moreover, governments globally recognize the surge in burden of cancer and its impact on public health. Supportive government initiatives, including research funding, regulatory reforms, and policies promote access to affordable cancer care, and drive the development and availability of immune checkpoint inhibitors. Government support plays a vital role in encouraging pharmaceutical companies to invest in R&D for immune checkpoint inhibitors and ensuring patient access to these treatments.  

However, factors such as advancements in healthcare technologies and infrastructure, including the availability of advanced diagnostic tools & treatment facilities, development of combination therapies, advancements in immunotherapy, and patient-centric approaches are expected to provide growth opportunities to key players of the immune checkpoint inhibitors market.  

On the basis of product type, the immune checkpoint inhibitors market share is categorized into CTLA-4 inhibitor, PD-1 inhibitor, and PD-L1 inhibitor. The PD-1 inhibitor segment accounted for the largest 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, owing to their superior efficacy and durable responses in treating cancers. In addition, expanded approvals of PD-1 inhibitors across multiple cancer types & stages have widened their market presence along with increasing ongoing clinical trials exploring PD-1 inhibitors in combination therapies with other treatments have reinforced their effectiveness, thereby driving the segment growth.   

On the basis of application, the immune checkpoint inhibitors market share is categorized into lung cancer, bladder cancer, melanoma, colorectal cancer, Hodgkin lymphoma, and others. The lung cancer segment accounted for the largest share in terms of revenue in 2022,and is anticipated to witness the fastest CAGR during the forecast period owing to rise in prevalence of lung cancer cases globally, adoption of PD-1/PD-L1 inhibitors in treating lung cancers owing to improved survival rates, and ongoing research focusing on combination therapies & expanding indications for these inhibitors in lung cancer treatment.   

Region-wise, North America accounted for the largest share in 2022 and is expected to remain dominant during the forecast period owing to the region’s robust healthcare infrastructure and advanced research capabilities, which facilitate early adoption and extensive utilization of innovative therapies, including immune checkpoint inhibitors. In addition, well-established clinical trials and research initiatives focusing on immune checkpoint inhibitors in various cancers, coupled with favorable regulatory policies is anticipated to fuel the market growth.   

However, Asia-Pacific is anticipated to witness notable growth owing to prevailing cancer cases and growing development in healthcare infrastructure with rise in adoption and demand for immune checkpoint inhibitors industry, thereby driving the growth of the market during the forecast period.  

 Key findings of the study  

• 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 immune checkpoint inhibitors market 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.