Australia Cancer Immunotherapy Market Size & Outlook
Australia cancer immunotherapy market, 2018-2030 (US$M)
Related Markets
Australia cancer immunotherapy market highlights
- The Australia cancer immunotherapy market generated a revenue of USD 2,982.2 million in 2023 and is expected to reach USD 5,480.0 million by 2030.
- The Australia market is expected to grow at a CAGR of 9.1% from 2024 to 2030.
- In terms of segment, monoclonal antibodies was the largest revenue generating product in 2023.
- Oncolytic Viral Therapies and Cancer Vaccines is the most lucrative product segment registering the fastest growth during the forecast period.
Cancer immunotherapy market data book summary
| Market revenue in 2023 | USD 2,982.2 million |
| Market revenue in 2030 | USD 5,480.0 million |
| Growth rate | 9.1% (CAGR from 2023 to 2030) |
| Largest segment | Monoclonal antibodies |
| Fastest growing segment | Oncolytic Viral Therapies and Cancer Vaccines |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Monoclonal Antibodies, Check Point Inhibitors, Oncolytic Viral Therapies and Cancer Vaccines |
| Key market players worldwide | Pfizer Inc, AstraZeneca PLC, Merck & Co Inc, Roche Holding AG, Bristol-Myers Squibb Co, Novartis AG ADR, Eli Lilly and Co, Johnson & Johnson, Immunocore Holdings PLC ADR |
Other key industry trends
- In terms of revenue, Australia accounted for 2.4% of the global cancer immunotherapy market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan cancer immunotherapy market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 9,004.2 million by 2030.
Monoclonal antibodies was the largest segment with a revenue share of 68.29% in 2023. Horizon Databook has segmented the Australia cancer immunotherapy market based on monoclonal antibodies, check point inhibitors, oncolytic viral therapies and cancer vaccines covering the revenue growth of each sub-segment from 2018 to 2030.
Checkpoint inhibitors have heralded a new era for cancer treatment in Australia, with Opdivo and Keytruda at the forefront. Among all cancers, cancer immunotherapy was deemed most successful in the treatment of melanoma, which records the highest prevalence in Australia.
Monotherapy or combinatorial immunotherapy has been successfully applied in over 50% of melanoma patients and is likely to demonstrate similar results in lung & kidney cancer over the forecast period. Checkpoint inhibitors have also proved effective in the treatment of HNSCC, bladder cancer, and Hodgkin lymphoma.
Favorable reimbursement schemes in the country is an additional driving factor of the cancer immunotherapy market. A possible alternate strategy being discussed across medical reimbursement forums in Australia is the pay-for-performance scheme, wherein manufacturers are reimbursed only if the drug is successful in patients.
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Cancer Immunotherapy Market Scope
Cancer Immunotherapy Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia cancer immunotherapy market size, by product, 2018-2030 (US$M)
Australia Cancer Immunotherapy Market Outlook Share, 2023 & 2030 (US$M)
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