As per the current market research conducted by the CMI Team, the global Keytruda Market size is expected to record a CAGR of 8.9% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 20.3 billion. By 2032, the valuation is anticipated to reach USD 54.4 billion.

Keytruda Market: Growth Factors and Dynamics

  • Immunotherapy Progression: Keytruda, also known as pembrolizumab, belongs to the realm of immunotherapy drugs, a prominent force in the fight against various cancers. Its rise was closely linked to its capability to mobilize the body’s immune system against cancer cells, and the ever-expanding comprehension of immunology paved the way for its growth.
  • Clinical Efficacy: Keytruda demonstrated significant clinical efficacy in various cancer types, leading to its approval for multiple indications. Clinical trial results and real-world data showed improved survival rates and response rates in patients, making it an attractive treatment option.
  • Expanded Indications: Keytruda received approvals for new indications over time, expanding its market potential. The drug was continually evaluated in clinical trials for additional cancer types and stages, which helped broaden its use.
  • Competition: While Keytruda was a leading immunotherapy drug, it faced competition from other checkpoint inhibitors like Opdivo (nivolumab) and Tecentriq (atezolizumab). Competition in the immunotherapy market influenced pricing and market share.
  • Biomarker Testing: The use of biomarker testing, such as PD-L1 expression, became crucial in determining which patients were most likely to respond to Keytruda. Biomarker-driven treatment decisions improved patient selection and contributed to its market growth.
  • Regulatory Approvals: Regulatory approvals from agencies like the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) played a significant role in Keytruda’s market expansion. Approvals for new indications or expanded labelling increased its patient pool.
  • Global Expansion: Keytruda’s availability and use expanded globally, reaching patients in different countries. This expansion, along with the drug’s success in clinical trials, drove market growth.
  • R&D Investments: Ongoing research and development efforts by the manufacturer, Merck & Co., and other pharmaceutical companies focused on improving the drug’s efficacy and exploring new indications. These investments aimed to maintain Keytruda’s competitive edge.
  • Patient Access and Affordability: Access to Keytruda and affordability were important factors affecting its market dynamics. Efforts to make the drug accessible to a broader range of patients, including reimbursement strategies and patient assistance programs, influenced its market growth.
  • Pipeline Developments: Developments in the company’s pipeline, including potential combination therapies and new formulations, could impact Keytruda’s market position and future growth.

Keytruda Market: Partnership and Acquisitions

  • 2019 Collaboration with Seagen: In 2019, Merck forged a strategic alliance with Seagen to coalesce the potential of Keytruda and Seagen’s ADC (Antibody-Drug Conjugate) medication, Tukysa. This partnership was aimed at creating a powerful combination therapy for addressing metastatic breast cancer.
  • 2020 Partnership with Pfizer: In the year 2020, Merck entered into a partnership with Pfizer, uniting the strengths of Keytruda with Pfizer’s PD-L1 inhibitor, Bavencio. Their joint endeavor was geared towards devising an innovative treatment approach for non-small cell lung cancer.
  • 2021 Collaboration with Moderna: In 2021, Merck initiated a collaboration with Moderna, marking a strategic union between Keytruda and Moderna’s mRNA-based cancer vaccines. This partnership sought to explore and bring to market combination therapies that leveraged the potential of both entities to combat various forms of cancer effectively.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 23.7 Billion
Projected Market Size in 2032 USD 54.4 Billion
Market Size in 2022 USD 20.3 Billion
CAGR Growth Rate 8.9% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Payer Type, Cancer Type, Distribution Channel and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Keytruda Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Keytruda Market.

  • Impact on Clinical Trials: The COVID-19 pandemic disrupted many ongoing clinical trials across the pharmaceutical industry, including those related to Keytruda. Trials were delayed or modified to ensure the safety of participants and adhere to social distancing measures. This may have affected the timeline for new indications or expanded use of Keytruda.
  • Telemedicine and Remote Monitoring: Due to the pandemic, there was an accelerated adoption of telemedicine and remote patient monitoring in healthcare. This shift allowed oncologists to continue providing care and monitoring Keytruda patients remotely, ensuring continuity of treatment.
  • Supply Chain Disruptions: The pharmaceutical supply chain experienced disruptions early in the pandemic due to lockdowns and restrictions on the movement of goods. These disruptions could have affected the availability of Keytruda and other cancer treatments, potentially leading to temporary shortages or delays.
  • Patient Access Challenges: The pandemic created challenges for cancer patients in accessing treatments like Keytruda. Fear of contracting COVID-19 in healthcare settings, travel restrictions, and overwhelmed healthcare systems impacted patients’ ability to receive timely treatment.
  • Immunotherapy Research: The pandemic underscored the importance of immunotherapy research, as it became evident that the immune system plays a crucial role in responding to viral infections like COVID-19. This heightened focus on immunology research could have indirect benefits for immunotherapy drugs like Keytruda.
  • Healthcare Resource Allocation: Hospitals and healthcare systems had to allocate significant resources to manage COVID-19 patients. This reallocation of resources may have affected the capacity to provide cancer treatments, including immunotherapies like Keytruda.
  • Vaccine Distribution: In 2021, the distribution of COVID-19 vaccines became a global priority. This effort to vaccinate populations against COVID-19 had indirect implications for cancer patients, as it aimed to reduce the spread of the virus and protect vulnerable individuals, including those undergoing cancer treatments.
  • Evolving Treatment Guidelines: Oncology treatment guidelines evolved during the pandemic to consider the specific risks and benefits for cancer patients, including those receiving immunotherapies. These guidelines may have influenced the use of Keytruda and other treatments.
  • Long-Term Effects: Researchers began studying the long-term effects of COVID-19 on cancer patients, including potential interactions with cancer treatments like Keytruda. Understanding these effects was essential for providing comprehensive care.
  • R&D Resilience: Despite the challenges posed by the pandemic, the pharmaceutical industry remained resilient. Companies like Merck, the manufacturer of Keytruda, continued their research and development efforts, potentially leading to new indications or improved formulations.

In summary, the COVID-19 pandemic had multifaceted effects on the Keytruda market, including disruptions in clinical trials, challenges in patient access, and an increased focus on immunology research. The long-term impact of the pandemic on cancer treatment and immunotherapy continues to be an area of active study and adaptation in the healthcare industry.

Global Keytruda Market 2023–2032 (By Billion)

List of the prominent players in the Keytruda Market:

  • Merck & Co. Inc.
  • Bristol-Myers Squibb Company
  • AstraZeneca PLC
  • Roche Holding AG
  • Pfizer Inc.
  • Novartis AG
  • Sanofi S.A.
  • Johnson & Johnson
  • Eli Lilly and Company
  • AbbVie Inc.
  • Others

The Keytruda Market is segmented as follows:

By Payer Type

  • Commercial
  • Medicare
  • Medicaid

By Cancer Type

  • Melanoma
  • Lung cancer
  • Head and neck cancer
  • Hodgkin lymphoma
  • Stomach cancer
  • Urothelial carcinoma

By Distribution Channel

  • Hospital Pharmacies
  • Specialty Pharmacies

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America


  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America