Immuno-Oncology (IO) Market By Type: Immune Cell Therapy (CAR-T), Monoclonal Antibodies, Checkpoint Inhibitors, Cytokines, Cancer Vaccines,Others By Targets: IDO1i, Oncolytic virus, STING agonist, TLR agonist, TIL, MEKi, TIGIT, CPIGITR agonist,TGF-b trap,

Immuno-Oncology (IO) Market Size and Trends
The global Immuno-Oncology (IO) market size was estimated at USD 43.73 billion in 2023 and is projected to hit around USD 284.29 billion by 2033, growing at a CAGR of 23.12% during the forecast period from 2024 to 2033.

Immuno-Oncology (IO) Market Key Takeaways

North America dominated the market with the largest share in 2023.
By type, the immune checkpoint inhibitors segment dominated in the immuno-oncology market.
By indication, the blood cancer held a significant share of the immuno-oncology market.
By end user, hospitals dominated the immuno-oncology market

Immuno-Oncology (IO) Market Overview
The Immuno-Oncology (IO) market presents a transformative landscape in cancer treatment, characterized by the integration of immunotherapy into standard oncology practices. IO therapies leverage the body's immune system to target and eliminate cancer cells, offering the promise of durable responses and improved outcomes for patients across various cancer types. Key components of the IO market include immune checkpoint inhibitors, adoptive cell therapies, cancer vaccines, and cytokine therapies, each playing a pivotal role in reshaping the treatment paradigm. Immune checkpoint inhibitors, such as PD-1/PD-L1 inhibitors and CTLA-4 inhibitors, have gained widespread adoption due to their ability to unleash the immune system's antitumor response. Additionally, adoptive cell therapies, including CAR-T cell therapy, have demonstrated remarkable efficacy in hematologic malignancies, while ongoing research aims to extend their utility to solid tumors. Cancer vaccines and cytokine therapies are also under active investigation, aiming to stimulate specific immune responses against cancer cells or modulate the tumor microenvironment to enhance immune activity. Despite remarkable progress, challenges persist in maximizing the efficacy and minimizing the toxicity of IO therapies, underscoring the need for continued research and innovation. Moreover, the evolving landscape of combination therapies, biomarker-driven approaches, and the emergence of novel IO targets hold the potential to further optimize treatment outcomes and expand the reach of IO across diverse patient populations. Overall, the IO market represents a dynamic and promising frontier in oncology, driving significant advancements in cancer care and offering hope for patients facing this complex disease.
Immuno-Oncology (IO) Market Growth Factors
The Immuno-Oncology (IO) market has seen significant growth owing to several key factors. Firstly, advancements in biotechnology and immunotherapy research have led to the development of novel IO treatments, expanding the therapeutic options available for cancer patients. Additionally, increasing prevalence and awareness of various types of cancers have spurred demand for more effective and targeted therapies, driving market expansion. Moreover, collaborations between pharmaceutical companies and research institutions have facilitated the rapid translation of scientific discoveries into clinically viable IO treatments. Furthermore, supportive regulatory frameworks and expedited approval processes for IO drugs have contributed to market growth by reducing barriers to market entry for innovative therapies. Lastly, ongoing investments in precision medicine and personalized treatment approaches are expected to further fuel the growth of the IO market as they enable tailored therapeutic strategies based on individual patient profiles.
Immuno-Oncology (IO) Market Report Scope

Report Attribute
Details

Market Size in 2024
USD 43.73 Billion

Market Size by 2033
USD 284.29 Billion

Growth Rate From 2024 to 2033

CAGR of 23.12%

Base Year
2023

Forecast Period
2024 to 2033

Segments Covered
Type, Targets, Indication, End Users, Distribution Channel

Market Analysis (Terms Used)
Value (US$ Million/Billion) or (Volume/Units)

Report Coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Key Companies Profiled
Bristol Myers Squibb Company (US), Novartis AG (Switzerland), F. Hoffmann-LA Roche Ltd. (Switzerland), Merck & Co., Inc. (US), GSK Plc. (UK), Eli Lilly and Company (US), Fresenius Kabi AG (Germany), Pfizer Inc. (US), AbbVie Inc. (US), Genentech Inc. (US), Sanofi (France), and AstraZeneca (UK), among others

Immuno-Oncology (IO) Market Dynamics
Drivers

The rise in cancer cases will bolster the market growth

The market for immuno-oncology drugs is projected to expand due to the increase in cancer diagnoses worldwide. For instance, the American Cancer Society predicts that there will be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US in January 2022, or about 1,670 fatalities every day. Lung, prostate, bowel, and female breast cancer are the top four cancer types globally, making up 43% of all new cancer cases. Lung, prostate, bowel, and female breast cancer account for 43% of all new instances of cancer, making them the four most prevalent cancers worldwide. Therefore, it is projected that the rise in cancer incidence rates worldwide will increase the demand for immune-oncology medications.

Rising research and development funding will propel the market growth

Research and development funding is heavily invested in the fight against cancer, particularly precision medicine. Based on a person's genetic profile, precision medicine offers them individualized care. Consequently, the future of cancer treatment is likely to involve a combination of immunotherapy and personalized therapy. Better patient outcomes will surely be observed across a wide range of cancer types due to the advances in cancer management backed by the most recent surgical and radiation technology. These are the certain factors that propel the market growth.
Opportunities

Collaboration and partnerships are a promising opportunity

Companies have long collaborated with academic and research organizations in this industry for a long time through partnerships and in- or out-licensing agreements, and this trend has been accelerating in recent years. For instance, in September 2020, the US-based biopharmaceutical company AbbVie, Inc., which specializes in drug discovery, research, and development, announced its research partnership with I-Mab Biopharma Co. Ltd. This Chinese biopharmaceutical company has made significant advancements in the discovery, development, and commercialization of biological drugs for immunology. Together, the two companies will focus on developing Lemzoparlimab (also known as TJC4), a novel anti-CD47 monoclonal antibody that I-Mab separately discovered and developed to treat a variety of malignancies. The agreement covers its commercialization and development. Additionally, the two parties could opt to continue working together.
Restraints/Challenges

Serious problems with high medical expenses will hamper the market growth

Patients around the world have a serious problem with high medical expenses. There is a lot of pressure to keep expenses down and show value. The absence of affordable medications has affected the health of the populace in less developed countries and contributed to a short average life expectancy. Immunotherapy frequently carries an average annual cost of more than $100,000 per patient, which would increase to $850,000 per patient if the value of medical aid were considered. As a result, it is anticipated that the market for immuno-oncology drugs will experience slow growth due to the high cost of immuno-oncology therapy.
This immuno-oncology (IO) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the immuno-oncology (IO) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Immuno-Oncology (IO) Market Recent Developments

In November 2023, Boehringer Ingelheim expanded its immuno-oncology portfolio through the acquisition of bacterial cancer therapy specialist T3 Pharma.
In February 2024, AbbVie completed its acquisition of ImmunoGen, further strengthening its presence in the immuno-oncology market.
In May 2024, Biogen bolstered its late-stage pipeline and expanded its immunology portfolio through an agreement to acquire Human Immunology Biosciences.
In August 2022, Ipsen and Marengo Therapeutics forged a strategic partnership to advance precision immuno-oncology candidates into clinical development.
In March 2024, Gilead and Xilio entered into an exclusive license agreement for the Tumor-Activated IL-12 Program, aiming to enhance cancer treatment options. In January 2023, Prokarium and Ginkgo Bioworks announced a partnership to explore targets for RNA therapeutics and immuno-oncology.
In February 2024, Astellas and Kelonia Therapeutics initiated a research and license agreement to develop novel immuno-oncology therapeutics.

Immuno-Oncology (IO) Market By Type
In the immuno-oncology market, the immune checkpoint inhibitors segment holds sway, emerging as the dominant type of immunotherapy. One such drug targets the checkpoint protein CTLA-4, while others act against PD-1 or its partner protein PD-L1. Immune checkpoint inhibitors represent a pivotal category within immunotherapy, playing a crucial role in thwarting proteins that inhibit the immune system's attack on cancer cells. In April 2022, Regeneron Pharmaceuticals, Inc. finalized its acquisition of Checkmate Pharmaceuticals, Inc., signaling its commitment to advancing cancer therapeutics.
Immuno-Oncology (IO) Market By Indication
In the immuno-oncology market, the blood cancer segment emerges as a pivotal indication, commanding a substantial share. Immunotherapy, also known as biological therapy, harnesses the body's immune system to combat cancer, typically resulting in fewer short-term side effects compared to chemotherapy. Noteworthy immunotherapies employed in blood cancer treatment include Chimeric Antigen Receptor (CAR) T-cell therapy, cytokine treatment, donor lymphocyte infusion, monoclonal antibody therapy, radioimmunotherapy, reduced-intensity allogeneic stem cell transplantation, and therapeutic cancer vaccines. This focus on blood cancer underscores the significance of immunotherapy in addressing diverse malignancies and highlights its pivotal role in reshaping treatment approaches within this indication.
Immuno-Oncology (IO) Market By End User
In the immuno-oncology market, the hospital segment emerged as the dominant end-user segment in 2023. While many immunotherapy cancer treatments can be administered at home orally or through outpatient IV infusions, hospitals play a crucial role in providing comprehensive care for cancer patients. Immunotherapy treatments vary in their mechanisms, with some aiding the immune system in inhibiting or decelerating cancer cell growth, while others facilitate the immune system in eradicating cancer cells or preventing metastasis. This dominance of hospitals underscores their pivotal position in delivering advanced cancer care and highlights the integral role they play in administering immunotherapy treatments to patients.
Immuno-Oncology (IO) Market Regional Insights
In North America, particularly in the United States, the immuno-oncology market reigns supreme due to the escalating incidence of cancer. With the U.S. leading the charge and constituting approximately 46% of total oncology drug spending, the region's dominance is evident. This spending surge is primarily driven by the escalating costs of cancer medications. In Canada, Osler has pioneered an unparalleled immunotherapy program, setting a new standard in patient care with comprehensive education and proactive support for all immunotherapy recipients.

In March 2023, BioNTech and OncoC4 revealed their strategic collaboration to co-develop and commercialize a novel checkpoint antibody for multiple solid tumor indications.
In February 2023, Agilent announced the introduction of cell analysis workflow automation targeting the immuno-oncology, virology, and vaccine development markets.

In the forecast period, the Asia-Pacific region is poised to exhibit the highest growth rate in the immuno-oncology market, attracting biotechnology firms seeking Oncology Contract Research Organization (CRO) services. These companies increasingly seek partnerships with regional CRO specialists, drawn to similar cultural compatibility and flexibility. Challenges such as participant recruitment, lengthy timelines, and high costs are prompting biotechs to expand their drug development efforts into Asia-Pacific. India stands out as a premier destination for immunotherapy, boasting superior medical infrastructure, cutting-edge technologies, skilled physicians, cost-effectiveness, and renowned hospitals like Max Hospital India.
Moreover, Chinese researchers are making significant contributions to immuno-oncology, with the country experiencing a high incidence of malignant tumors, driving extensive research and development efforts in immunotherapy for various cancer types. This regional insight underscores the growing significance of Asia-Pacific in advancing immuno-oncology and its potential to reshape cancer treatment paradigms globally.
Immuno-Oncology (IO) Market Top Key Companies:

Bristol Myers Squibb Company (US),
Novartis AG (Switzerland),
F. Hoffmann-LA Roche Ltd. (Switzerland),
Merck & Co., Inc. (US),
GSK Plc. (UK),
Eli Lilly and Company (US),
Fresenius Kabi AG (Germany),
Pfizer Inc. (US),
AbbVie Inc. (US),
Genentech Inc. (US),
Sanofi (France),
AstraZeneca (UK),
among others

Immuno-Oncology (IO) Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Immuno-Oncology (IO) market.
By Type

Immune Cell Therapy (CAR-T)
Monoclonal Antibodies
Checkpoint Inhibitors
Cytokines
Cancer Vaccines
Others

By Targets

IDO1i
Oncolytic virus
STING agonist
TLR agonist
TIL
MEKi
TIGIT
CPI
GITR agonist
TGF-b trap
A2AR antagonist/CD73i
LAG-3
Anti-CTLA-4
MAGE-A3, VEGF
HDAC
STING
TIM-3
TGF-Beta
OX40
Others

By Indication

Malignant Tumors
Benign Tumors
Others

By End Users

Hospitals
Specialty Clinics
Others

By Distribution Channel

Hospital Pharmacy
Retail Pharmacy
Others

By Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa (MEA)